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Opera Trading Capital Portfolio holdings

AUM $419M
1-Year Est. Return 0.58%
This Fund
S&P 500
This Quarter Est. Return
+1.43%
1 Year Est. Return
+0.58%
3 Year Est. Return
+11.35%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$627M
AUM Growth
+$626M
Cap. Flow
+$29.1M
Cap. Flow %
4.64%
Top 10 Hldgs %
36.72%
Holding
199
New
43
Increased
14
Reduced
23
Closed
33

Top Buys

Rank Stock Value
1
NBR.PRA
Nabors Industries Ltd. 6.00% Mandatory Convertible Preferred Shares, Series A
NBR.PRA
+$13.3M
2
VXX
iPath S&P 500 VIX Short-Term Futures ETN due 1/30/2019
VXX
+$11.6M
3
HES.PRA
Hess Corporation
HES.PRA
+$9.19M
4
SJIU
South Jersey Industries, Inc.
SJIU
+$8.55M
5
DYNC
Vistra Energy Corp.
DYNC
+$8.43M

Top Sells

Rank Stock Value
1
BDXA
Becton, Dickinson and Company Depositary Shares, each Representing a 1/20th Interest in a Share of 6
BDXA
+$18.8M
2
SRE.PRA
Sempra Energy 6% Mandatory Convertible Preferred Stock, Series A
SRE.PRA
+$8.98M
3
DCUD
Dominion Energy, Inc 2016 Series A Corporate Units
DCUD
+$8.95M
4
CCI.PRA
Crown Castle International Corp. 6.875% Mandatory Convertible Preferred Stock, Series A
CCI.PRA
+$7.93M
5
GDX icon
VanEck Gold Miners ETF
GDX
+$6.72M

Sector Composition

Rank Sector Weight
1 Communication Services 2.95%
2 Consumer Discretionary 0.95%
3 Healthcare 0.6%
4 Financials 0.51%
5 Consumer Staples 0.49%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MDLZ icon
51
Mondelez International
MDLZ
$78.3B
$492K 0.08%
12,000
-25,000
-68% -$1M
GLIBA
52
DELISTED
GCI Liberty, Inc. Class A Common Stock (DE)
GLIBA
$468K 0.07%
10,392
– –
HQH
53
abrdn Healthcare Investors
HQH
$1.19B
$450K 0.07%
20,942
– –
MLCO icon
54
Melco Resorts & Entertainment
MLCO
$2.12B
$448K 0.07%
+16,000
New +$490K
BKNG icon
55
Booking.com
BKNG
$141B
$446K 0.07%
+5,500
New +$463K
DELL icon
56
Dell
DELL
$256B
$410K 0.07%
17,271
– –
CENTA icon
57
Central Garden & Pet Co Class A
CENTA
$2.4B
$397K 0.06%
12,255
-5,365
-30% -$164K
XLE icon
58
State Street Energy Select Sector SPDR ETF
XLE
$38.2B
$395K 0.06%
10,400
– –
IWD icon
59
iShares Russell 1000 Value ETF
IWD
$81.9B
$364K 0.06%
3,000
– –
DSU icon
60
BlackRock Debt Strategies Fund
DSU
$595M
$357K 0.06%
31,965
-9,027
-22% -$103K
EDR
61
DELISTED
Education Realty Trust Inc
EDR
$353K 0.06%
+8,500
New +$303K
NWS icon
62
News Corp Class B
NWS
$17.6B
$333K 0.05%
21,049
-46,713
-69% -$751K
JHG
63
DELISTED
Janus Henderson
JHG
$318K 0.05%
10,340
+9,998
+2,923% +$320K
CPB icon
64
Campbell Soup
CPB
$6.58B
$304K 0.05%
+7,500
New +$292K
XLI icon
65
State Street Industrial Select Sector SPDR ETF
XLI
$33.3B
$280K 0.04%
3,905
– –
AMD icon
66
Advanced Micro Devices
AMD
$808B
$270K 0.04%
+18,000
New +$229K
GDL
67
GDL Fund
GDL
$92.2M
$255K 0.04%
27,740
– –
ROST icon
68
Ross Stores
ROST
$74.9B
$254K 0.04%
3,000
-9,500
-76% -$773K
CUK
69
DELISTED
Carnival PLC
CUK
$252K 0.04%
4,377
– –
GRFS
70
Grifois
GRFS
$4.95B
$248K 0.04%
11,551
– –
RACE icon
71
Ferrari
RACE
$66.3B
$247K 0.04%
+1,830
New +$241K
KDP icon
72
Keurig Dr Pepper
KDP
$42.1B
$244K 0.04%
+2,000
New +$240K
AVGO icon
73
Broadcom
AVGO
$1.76T
$243K 0.04%
10,000
-4,140
-29% -$102K
PPLI
74
People Inc
PPLI
$3.31B
$243K 0.04%
+8,930
New +$245K
URBN icon
75
Urban Outfitters
URBN
$6.25B
$241K 0.04%
+5,400
New +$226K
1 2
3
4 5

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Opera Trading Capital's Q2 2018 Portfolio in Review

As of Q2 2018, Opera Trading Capital held 199 positions worth $627M, up 48,375% from $1.29M the previous quarter. Its ten largest holdings account for 37% of the portfolio.

Opera Trading Capital deployed $29.1M of net new capital in Q2 2018, opening 43 new positions and adding to 14 existing holdings. Its largest new stake was Nabors Industries Ltd. 6.00% Mandatory Convertible Preferred Shares, Series A: 270,000 shares worth $12.3M.

By sector, the portfolio is most concentrated in Communication Services at 2.9% of assets, up from 1.6% a quarter earlier, followed by Consumer Discretionary and Healthcare.

On the sell side, the largest reduction was Becton, Dickinson and Company Depositary Shares, each Representing a 1/20th Interest in a Share of 6, an estimated $18.8M trimmed.

  • Opera Trading Capital's largest Q2 2018 buy was Nabors Industries Ltd. 6.00% Mandatory Convertible Preferred Shares, Series A: 270,000 shares worth $12.3M.
  • Opera Trading Capital added most to iPath S&P 500 VIX Short-Term Futures ETN due 1/30/2019 in Q2 2018, an estimated $11.6M increase.
  • Opera Trading Capital's biggest Q2 2018 reduction was Becton, Dickinson and Company Depositary Shares, each Representing a 1/20th Interest in a Share of 6, cutting an estimated $18.8M.
  • Opera Trading Capital fully exited Assurant, Inc. 6.50% Series D Mandatory Convertible Preferred Stock, $1.00 par value in Q2 2018, selling an estimated $16.5K.
  • Opera Trading Capital's ten largest holdings make up 37% of its $627M portfolio in Q2 2018.
  • Opera Trading Capital opened 43 new positions and closed 33 in Q2 2018.
  • Opera Trading Capital's portfolio value rose 48,375% quarter-over-quarter to $627M.

Based on Opera Trading Capital's 13F filing for Q2 2018, filed 10 Aug 2018.