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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
-7.65%
1 Year Est. Return
-9.97%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$231M
AUM Growth
+$16.2M
Cap. Flow
+$35.9M
Cap. Flow %
15.5%
Top 10 Hldgs %
42.99%
Holding
45
New
5
Increased
31
Reduced
5
Closed
3

Top Buys

Rank Stock Value
1
SAN icon
Banco Santander
SAN
+$5.78M
2
CLMT icon
Calumet Specialty Products
CLMT
+$5.35M
3
MMLP icon
Martin Midstream Partners
MMLP
+$4.87M
4
HCF
NEXPOINT CREDIT STRATEGIES FUND
HCF
+$4.63M
5
PSEC icon
Prospect Capital
PSEC
+$2.79M

Top Sells

Rank Stock Value
1
RGP
REGENCY ENERGY PARTNERS LP COMMON UTS REP LIMITED PART INTS
RGP
+$5.63M
2
PDH
PETROLOGISTICS LP UNIT LTD PARTNERSHIP INT
PDH
+$5.2M
3
DINO icon
HF Sinclair
DINO
+$3.96M
4
ACP
abrdn Income Credit Strategies Fund
ACP
+$1.61M
5
EDD
Morgan Stanley Emerging Markets Domestic Debt Fund
EDD
+$1.05M

Sector Composition

Rank Sector Weight
1 Financials 20.1%
2 Real Estate 18.68%
3 Energy 16.27%
4 Industrials 6.22%
5 Communication Services 5.73%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
IVR icon
26
Invesco Mortgage Capital
IVR
$790M
$4.54M 1.96%
28,910
+3,972
+16% +$679K
EHI
27
Western Asset Global High Income Fund
EHI
$178M
$4.53M 1.96%
371,282
+51,744
+16% +$648K
NKA
28
DELISTED
NISKA GAS STORAGE PARTNERS LLC UNIT LTD LIABILITY CO INTS
NKA
$4.48M 1.94%
359,235
+50,302
+16% +$729K
TNH
29
DELISTED
Terra Nitrogen
TNH
$4.3M 1.86%
29,767
+4,379
+17% +$639K
UAN icon
30
CVR Partners
UAN
$1.24B
$4.23M 1.83%
30,838
+4,131
+15% +$679K
OCSL icon
31
Oaktree Specialty Lending
OCSL
$1.12B
$4.06M 1.75%
147,318
+20,987
+17% +$613K
HYT icon
32
BlackRock Corporate High Yield Fund
HYT
$1.37B
$3.81M 1.65%
321,876
+46,344
+17% +$557K
ACP
33
abrdn Income Credit Strategies Fund
ACP
$634M
$3.38M 1.46%
208,211
-95,007
-31% -$1.61M
SCU
34
DELISTED
Sculptor Capital Management, Inc. Class A Common Stock
SCU
$3.31M 1.43%
30,952
-5,337
-15% -$682K
EDF
35
Virtus Stone Harbor Emerging Markets Income Fund
EDF
$170M
$2.56M 1.1%
132,371
+16,336
+14% +$328K
BRW
36
Saba Capital Income & Opportunities Fund
BRW
$340M
$2.54M 1.1%
+230,896
New +$2.57M
EMD
37
DELISTED
Western Asset Emerging Markets
EMD
$2.47M 1.07%
205,426
+27,720
+16% +$351K
VTA
38
DELISTED
INVESCO DYNAMIC CREDIT OPPORTUNITIES FUND
VTA
$2.45M 1.06%
+198,593
New +$2.52M
STB
39
DELISTED
Student Transportation Inc
STB
$2.41M 1.04%
385,053
+53,462
+16% +$346K
WSR
40
DELISTED
Whitestone REIT
WSR
$2.15M 0.93%
154,593
+21,284
+16% +$318K
OIA icon
41
Invesco Municipal Income Opportunities Trust
OIA
$290M
$529K 0.23%
77,890
-2,000
-3% -$13.7K
PMM
42
Franklin Managed Municipal Income Trust
PMM
$272M
$285K 0.12%
40,270
– –
DINO icon
43
HF Sinclair
DINO
$15.1B
– –
-90,734
Closed -$3.96M
RGP
44
DELISTED
REGENCY ENERGY PARTNERS LP COMMON UTS REP LIMITED PART INTS
RGP
– –
-174,919
Closed -$5.63M
PDH
45
DELISTED
PETROLOGISTICS LP UNIT LTD PARTNERSHIP INT
PDH
– –
-362,416
Closed -$5.2M
1
2

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CCM
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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 Q3 2014 Portfolio in Review

As of Q3 2014, Trust & Fiduciary Management Services held 45 positions worth $231M, up 7.5% from $215M the previous quarter. Its ten largest holdings account for 43% of the portfolio.

Trust & Fiduciary Management Services deployed $35.9M of net new capital in Q3 2014, opening 5 new positions and adding to 31 existing holdings. Its largest new stake was Calumet Specialty Products: 176,919 shares worth $4.86M.

By sector, the portfolio is most concentrated in Financials at 20% of assets, up from 18% a quarter earlier, followed by Real Estate and Energy.

On the sell side, the largest reduction was abrdn Income Credit Strategies Fund, an estimated $1.61M trimmed.

  • Trust & Fiduciary Management Services's largest Q3 2014 buy was Calumet Specialty Products: 176,919 shares worth $4.86M.
  • Trust & Fiduciary Management Services added most to Banco Santander in Q3 2014, an estimated $5.78M increase.
  • Trust & Fiduciary Management Services's biggest Q3 2014 reduction was abrdn Income Credit Strategies Fund, cutting an estimated $1.61M.
  • Trust & Fiduciary Management Services fully exited REGENCY ENERGY PARTNERS LP COMMON UTS REP LIMITED PART INTS in Q3 2014, selling an estimated $5.63M.
  • Trust & Fiduciary Management Services's ten largest holdings make up 43% of its $231M portfolio in Q3 2014.
  • Trust & Fiduciary Management Services opened 5 new positions and closed 3 in Q3 2014.
  • Trust & Fiduciary Management Services's portfolio value rose 7.5% quarter-over-quarter to $231M.

Based on Trust & Fiduciary Management Services's 13F filing for Q3 2014, filed 14 Nov 2014.