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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
FTR
1
DELISTED
Frontier Communications Corp.
FTR
$13.3M 5.73%
135,797
+13,856
+11% +$1.32M
BPT
2
DELISTED
BP Prudhoe Bay Royalty Trust
BPT
$10.3M 4.46%
109,491
+15,459
+16% +$1.44M
KKR icon
3
KKR & Co
KKR
$92.1B
$10.1M 4.36%
452,783
+65,206
+17% +$1.53M
SAN icon
4
Banco Santander
SAN
$199B
$9.83M 4.25%
1,139,488
+640,449
+128% +$5.78M
ARCC icon
5
Ares Capital
ARCC
$13.6B
$9.69M 4.19%
599,510
+134,782
+29% +$2.28M
EPR icon
6
EPR Properties
EPR
$4.92B
$9.66M 4.18%
190,688
+25,684
+16% +$1.42M
PSEC icon
7
Prospect Capital
PSEC
$1.13B
$9.54M 4.12%
963,532
+264,207
+38% +$2.79M
VER
8
DELISTED
VEREIT, Inc.
VER
$9.45M 4.08%
156,711
+22,172
+16% +$1.43M
MTGE
9
DELISTED
MTGE Investment Corp. Common Stock
MTGE
$8.84M 3.82%
469,456
+64,160
+16% +$1.28M
SVC
10
Service Properties Trust
SVC
$1.09B
$8.81M 3.81%
66,054
+9,437
+17% +$1.37M
VNR
11
DELISTED
Vanguard Natural Resources, LLC
VNR
$8.72M 3.77%
317,661
+44,506
+16% +$1.34M
NMM icon
12
Navios Maritime Partners
NMM
$2.25B
$7.21M 3.12%
26,956
+3,701
+16% +$1.08M
EDD
13
Morgan Stanley Emerging Markets Domestic Debt Fund
EDD
$378M
$6.52M 2.82%
552,159
-81,218
-13% -$1.05M
STON
14
DELISTED
StoneMor Inc.
STON
$5.56M 2.4%
215,423
+30,301
+16% +$754K
JPC icon
15
Nuveen Preferred & Income Opportunities Fund
JPC
$2.89B
$4.93M 2.13%
535,705
+73,996
+16% +$697K
CVRR
16
DELISTED
CVR Refining, LP
CVRR
$4.91M 2.12%
210,943
+28,338
+16% +$696K
CLMT icon
17
Calumet Specialty Products
CLMT
$3.61B
$4.86M 2.1%
+176,919
New +$5.35M
SFL icon
18
SFL Corp
SFL
$1.61B
$4.77M 2.06%
281,815
+38,281
+16% +$711K
SDRL
19
DELISTED
Seadrill Limited Common Stock
SDRL
$4.75M 2.05%
663
-46
-6% -$435K
ARI
20
Apollo Commercial Real Estate
ARI
$876M
$4.65M 2.01%
296,100
+42,361
+17% +$701K
HCF
21
DELISTED
NEXPOINT CREDIT STRATEGIES FUND
HCF
$4.63M 2%
+435,474
New +$4.63M
MMLP icon
22
Martin Midstream Partners
MMLP
$98.6M
$4.62M 1.99%
+123,799
New +$4.87M
NTI
23
DELISTED
NORTHERN TIER ENERGY LP CLASS A
NTI
$4.6M 1.99%
197,023
+26,565
+16% +$670K
DHC
24
Diversified Healthcare Trust
DHC
$2.23B
$4.59M 1.98%
221,423
+31,105
+16% +$705K
CMO
25
DELISTED
Capstead Mortgage Corp.
CMO
$4.58M 1.98%
374,103
+50,858
+16% +$663K
1
2

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HCM
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CCM
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RCM
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AIM
Ada Investment Management New York $148M AUM
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.