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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
+0.84%
1 Year Est. Return
+0.58%
3 Year Est. Return
+11.35%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$357M
AUM Growth
+$24.9M
Cap. Flow
-$128M
Cap. Flow %
-35.93%
Top 10 Hldgs %
39.65%
Holding
147
New
30
Increased
11
Reduced
11
Closed
58

Top Buys

Rank Stock Value
1
NEE.PRR
NextEra Energy, Inc.
NEE.PRR
+$15.1M
2
XLE icon
State Street Energy Select Sector SPDR ETF
XLE
+$9.4M
3
VRTSP
Virtus Investment Partners, Inc. 7.25% Series D Mandatory Convertible Preferred Stock
VRTSP
+$5.95M
4
BMA icon
Banco Macro
BMA
+$4.4M
5
XLF icon
State Street Financial Select Sector SPDR ETF
XLF
+$4.31M

Top Sells

Rank Stock Value
1
AGN.PRA
Allergan plc
AGN.PRA
+$9.54M
2
UNG icon
United States Natural Gas Fund
UNG
+$7.31M
3
TLT icon
iShares 20+ Year Treasury Bond ETF
TLT
+$6.07M
4
FTRPR
Frontier Communications Corporation 11.125% Series A Mandatory Convertible Preferred Stock
FTRPR
+$4.81M
5
GILD icon
Gilead Sciences
GILD
+$3.58M

Sector Composition

Rank Sector Weight
1 Communication Services 1.95%
2 Financials 1.82%
3 Technology 0.64%
4 Materials 0.44%
5 Industrials 0.26%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
DISCK
101
DELISTED
Discovery, Inc. Series C Common Stock
DISCK
– –
-1,209
Closed -$32K
IMMU
102
DELISTED
Immunomedics Inc
IMMU
– –
-5,000
Closed -$18K
DTV
103
DELISTED
DTE Energy Company 2016 Corporate Units
DTV
– –
-60,000
Closed -$3.18M
LEXEA
104
DELISTED
Liberty Expedia Holdings, Inc. Class A Common Stock
LEXEA
– –
-15,148
Closed -$600K
SRCLP
105
DELISTED
Stericycle, Inc
SRCLP
– –
-5,000
Closed -$316K
AGN.PRA
106
DELISTED
Allergan plc
AGN.PRA
– –
-12,500
Closed -$9.54M
SWNC
107
DELISTED
Southwestern Energy Company
SWNC
– –
-15,000
Closed -$383K
CAB
108
DELISTED
Cabela's Inc
CAB
– –
-7,663
Closed -$448K
RAI
109
DELISTED
Reynolds American Inc
RAI
– –
-34,296
Closed -$1.92M
VAL
110
DELISTED
Valspar
VAL
– –
-5,000
Closed -$518K
SWC
111
DELISTED
Stillwater Mining Co
SWC
– –
-76,609
Closed -$1.23M
JPEP
112
DELISTED
JP Energy Partners LP
JPEP
– –
-23,302
Closed -$235K
TMH
113
DELISTED
Team Health Holdings Inc
TMH
– –
-31,464
Closed -$1.37M
STJ
114
DELISTED
St Jude Medical
STJ
– –
-31,782
Closed -$2.55M
UN
115
DELISTED
Unilever NV New York Registry Shares
UN
– –
-8,152
Closed -$334K
WWAV
116
DELISTED
The WhiteWave Foods Company
WWAV
– –
-50,195
Closed -$2.79M
1 2 3 4
5

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Opera Trading Capital's Q1 2017 Portfolio in Review

As of Q1 2017, Opera Trading Capital held 147 positions worth $357M, up 7.5% from $332M the previous quarter. Its ten largest holdings account for 40% of the portfolio.

Opera Trading Capital withdrew a net $128M in Q1 2017, closing 58 positions and reducing 11 holdings. Its most notable exit was Allergan plc, an estimated $9.54M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 1.9% of assets, up from 1.4% a quarter earlier, followed by Financials and Technology.

Against the trend, Opera Trading Capital opened a new position in Virtus Investment Partners, Inc. 7.25% Series D Mandatory Convertible Preferred Stock worth $5.82M.

  • Opera Trading Capital's largest Q1 2017 buy was Virtus Investment Partners, Inc. 7.25% Series D Mandatory Convertible Preferred Stock: 60,000 shares worth $5.82M.
  • Opera Trading Capital added most to NextEra Energy, Inc. in Q1 2017, an estimated $15.1M increase.
  • Opera Trading Capital's biggest Q1 2017 reduction was Frontier Communications Corporation 11.125% Series A Mandatory Convertible Preferred Stock, cutting an estimated $4.81M.
  • Opera Trading Capital fully exited Allergan plc in Q1 2017, selling an estimated $9.54M.
  • Opera Trading Capital's ten largest holdings make up 40% of its $357M portfolio in Q1 2017.
  • Opera Trading Capital opened 30 new positions and closed 58 in Q1 2017.
  • Opera Trading Capital's portfolio value rose 7.5% quarter-over-quarter to $357M.

Based on Opera Trading Capital's 13F filing for Q1 2017, filed 3 May 2017.