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TFMS

Trust & Fiduciary Management Services Portfolio holdings

AUM $126M
1-Year Est. Return 9.97%
This Fund
S&P 500
This Quarter Est. Return
-1.4%
1 Year Est. Return
-9.97%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$126M
AUM Growth
-$6M
Cap. Flow
-$4.29M
Cap. Flow %
-3.41%
Top 10 Hldgs %
45.54%
Holding
46
New
5
Increased
5
Reduced
27
Closed
8

Top Buys

Rank Stock Value
1
ETP
Energy Transfer Partners L.p.
ETP
+$6.53M
2
JPI
Nuveen Preferred Securities & Income Opportunities Fund
JPI
+$5.26M
3
JPS
Nuveen Preferred & Income Securities Fund
JPS
+$5.19M
4
EPD icon
Enterprise Products Partners
EPD
+$5.08M
5
KMI.PRA
Kinder Morgan, Inc.
KMI.PRA
+$4.33M

Top Sells

Rank Stock Value
1
CLMT icon
Calumet Specialty Products
CLMT
+$3.79M
2
NTI
NORTHERN TIER ENERGY LP CLASS A
NTI
+$3.06M
3
KKR icon
KKR & Co
KKR
+$2.86M
4
NRF
NorthStar Realty Finance Corp.
NRF
+$2.49M
5
ARCC icon
Ares Capital
ARCC
+$2.22M

Sector Composition

Rank Sector Weight
1 Real Estate 25.36%
2 Financials 12.98%
3 Energy 11.58%
4 Industrials 6.08%
5 Communication Services 3.83%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
APO icon
26
Apollo Global Management
APO
$69.5B
$2.35M 1.87%
155,115
-2,506
-2% -$42.8K
CLMT icon
27
Calumet Specialty Products
CLMT
$3.73B
$2.35M 1.87%
118,274
-153,495
-56% -$3.79M
UAN icon
28
CVR Partners
UAN
$1.26B
$1.68M 1.33%
20,922
-373
-2% -$33.1K
IVR icon
29
Invesco Mortgage Capital
IVR
$829M
$1.54M 1.22%
12,399
-8,008
-39% -$1.02M
PFX icon
30
PhenixFIN
PFX
$88.7M
$1.34M 1.07%
8,934
-145
-2% -$22.1K
CMO
31
DELISTED
Capstead Mortgage Corp.
CMO
$1.18M 0.93%
134,573
-133,157
-50% -$1.28M
CVRR
32
DELISTED
CVR Refining, LP
CVRR
$1.17M 0.93%
61,647
-103,541
-63% -$2.13M
EHI
33
Western Asset Global High Income Fund
EHI
$179M
$768K 0.61%
88,059
-176,675
-67% -$1.61M
OCSL icon
34
Oaktree Specialty Lending
OCSL
$1.07B
$760K 0.6%
39,709
-68,123
-63% -$1.26M
HYT icon
35
BlackRock Corporate High Yield Fund
HYT
$1.37B
$756K 0.6%
77,287
-151,536
-66% -$1.52M
OIA icon
36
Invesco Municipal Income Opportunities Trust
OIA
$298M
$507K 0.4%
69,538
-5,877
-8% -$41.3K
STB
37
DELISTED
Student Transportation Inc
STB
$334K 0.27%
89,919
-176,053
-66% -$709K
PMM
38
Franklin Managed Municipal Income Trust
PMM
$283M
$257K 0.2%
34,970
-4,500
-11% -$32.6K
ACP
39
abrdn Income Credit Strategies Fund
ACP
$647M
– –
-130,241
Closed -$1.62M
DHC
40
Diversified Healthcare Trust
DHC
$2.22B
– –
-89,454
Closed -$1.44M
NMM icon
41
Navios Maritime Partners
NMM
$2.03B
– –
-19,578
Closed -$2.14M
STAG icon
42
STAG Industrial
STAG
$7.97B
– –
-78,721
Closed -$1.43M
NRF
43
DELISTED
NorthStar Realty Finance Corp.
NRF
– –
-100,917
Closed -$2.49M
NTI
44
DELISTED
NORTHERN TIER ENERGY LP CLASS A
NTI
– –
-134,027
Closed -$3.06M
HCF
45
DELISTED
NEXPOINT CREDIT STRATEGIES FUND
HCF
– –
-322,785
Closed -$1.85M
EMD
46
DELISTED
Western Asset Emerging Markets
EMD
– –
-141,187
Closed -$1.35M
1
2

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RCM
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AIM
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SGH
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THP
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SPC
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QA
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Trust & Fiduciary Management Services's Q4 2015 Portfolio in Review

As of Q4 2015, Trust & Fiduciary Management Services held 46 positions worth $126M, down 4.5% from $132M the previous quarter. Its ten largest holdings account for 46% of the portfolio.

Trust & Fiduciary Management Services withdrew a net $4.29M in Q4 2015, closing 8 positions and reducing 27 holdings. Its most notable exit was NORTHERN TIER ENERGY LP CLASS A, an estimated $3.06M position sold in full.

By sector, the portfolio is most concentrated in Real Estate at 25% of assets, down from 29% a quarter earlier, followed by Financials and Energy.

Against the trend, Trust & Fiduciary Management Services opened a new position in Energy Transfer Partners L.p. worth $5.61M.

  • Trust & Fiduciary Management Services's largest Q4 2015 buy was Energy Transfer Partners L.p.: 166,355 shares worth $5.61M.
  • Trust & Fiduciary Management Services added most to First Trust Intermediate Duration Preferred & Income Fund in Q4 2015, an estimated $2.32M increase.
  • Trust & Fiduciary Management Services's biggest Q4 2015 reduction was Calumet Specialty Products, cutting an estimated $3.79M.
  • Trust & Fiduciary Management Services fully exited NORTHERN TIER ENERGY LP CLASS A in Q4 2015, selling an estimated $3.06M.
  • Trust & Fiduciary Management Services's ten largest holdings make up 46% of its $126M portfolio in Q4 2015.
  • Trust & Fiduciary Management Services opened 5 new positions and closed 8 in Q4 2015.
  • Trust & Fiduciary Management Services's portfolio value fell 4.5% quarter-over-quarter to $126M.

Based on Trust & Fiduciary Management Services's 13F filing for Q4 2015, filed 10 Feb 2016.