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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
-9.18%
1 Year Est. Return
-9.97%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$132M
AUM Growth
-$75.7M
Cap. Flow
-$58.7M
Cap. Flow %
-44.5%
Top 10 Hldgs %
44.88%
Holding
46
New
4
Increased
4
Reduced
33
Closed
5

Top Buys

Rank Stock Value
1
FUN icon
Cedar Fair
FUN
+$2.79M
2
FSK icon
FS KKR Capital
FSK
+$2.72M
3
FTR
Frontier Communications Corp.
FTR
+$876K
4
FPF
First Trust Intermediate Duration Preferred & Income Fund
FPF
+$843K
5
JPC icon
Nuveen Preferred & Income Opportunities Fund
JPC
+$694K

Top Sells

Rank Stock Value
1
NRF
NorthStar Realty Finance Corp.
NRF
+$5.13M
2
VNR
Vanguard Natural Resources, LLC
VNR
+$4.67M
3
MEMP
Memorial Production Partners LP Common Units
MEMP
+$4.1M
4
BPT
BP Prudhoe Bay Royalty Trust
BPT
+$3.52M
5
KKR icon
KKR & Co
KKR
+$2.66M

Sector Composition

Rank Sector Weight
1 Real Estate 29.07%
2 Financials 17.66%
3 Energy 8.32%
4 Industrials 7.97%
5 Materials 6.51%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SFL icon
1
SFL Corp
SFL
$1.62B
$7.3M 5.53%
449,114
-155,333
-26% -$2.54M
CLMT icon
2
Calumet Specialty Products
CLMT
$3.72B
$6.6M 5%
271,769
-97,268
-26% -$2.53M
STWD icon
3
Starwood Property Trust
STWD
$6.16B
$6.5M 4.92%
316,585
-121,640
-28% -$2.63M
ARCC icon
4
Ares Capital
ARCC
$13.5B
$6.36M 4.82%
439,339
-162,897
-27% -$2.56M
ARI
5
Apollo Commercial Real Estate
ARI
$862M
$6.31M 4.78%
401,385
-149,901
-27% -$2.49M
SVC
6
Service Properties Trust
SVC
$1.07B
$5.5M 4.17%
43,265
-15,096
-26% -$2.04M
KKR icon
7
KKR & Co
KKR
$90B
$5.43M 4.12%
323,900
-125,254
-28% -$2.66M
JPC icon
8
Nuveen Preferred & Income Opportunities Fund
JPC
$2.88B
$5.41M 4.1%
601,934
+75,637
+14% +$694K
TNH
9
DELISTED
Terra Nitrogen
TNH
$5.04M 3.82%
46,757
-11,209
-19% -$1.24M
MMLP icon
10
Martin Midstream Partners
MMLP
$94.7M
$4.76M 3.61%
194,947
-74,639
-28% -$2.14M
STON
11
DELISTED
StoneMor Inc.
STON
$4.24M 3.22%
155,560
-55,480
-26% -$1.57M
EPR icon
12
EPR Properties
EPR
$4.87B
$4.06M 3.07%
78,646
+1,413
+2% +$76.5K
RITM icon
13
Rithm Capital
RITM
$5.6B
$3.89M 2.95%
296,899
-98,867
-25% -$1.46M
FTR
14
DELISTED
Frontier Communications Corp.
FTR
$3.52M 2.67%
49,449
+11,566
+31% +$876K
CVRR
15
DELISTED
CVR Refining, LP
CVRR
$3.16M 2.39%
165,188
-67,662
-29% -$1.3M
NTI
16
DELISTED
NORTHERN TIER ENERGY LP CLASS A
NTI
$3.06M 2.32%
134,027
-55,992
-29% -$1.41M
FPF
17
First Trust Intermediate Duration Preferred & Income Fund
FPF
$1.07B
$3.06M 2.32%
142,471
+38,939
+38% +$843K
MTGE
18
DELISTED
MTGE Investment Corp. Common Stock
MTGE
$3.03M 2.3%
189,493
-77,800
-29% -$1.23M
VER
19
DELISTED
VEREIT, Inc.
VER
$3.01M 2.28%
77,986
-29,527
-27% -$1.23M
PSEC icon
20
Prospect Capital
PSEC
$1.11B
$2.93M 2.22%
411,407
-147,203
-26% -$1.1M
APO icon
21
Apollo Global Management
APO
$69.6B
$2.71M 2.05%
157,621
-55,198
-26% -$1.1M
FUN icon
22
Cedar Fair
FUN
$1.9B
$2.71M 2.05%
+51,408
New +$2.79M
CMO
23
DELISTED
Capstead Mortgage Corp.
CMO
$2.65M 2.01%
267,730
-101,437
-27% -$1.1M
FSK icon
24
FS KKR Capital
FSK
$3.02B
$2.52M 1.91%
+67,524
New +$2.72M
IVR icon
25
Invesco Mortgage Capital
IVR
$763M
$2.5M 1.89%
20,407
-7,966
-28% -$1.11M
1
2

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Trust & Fiduciary Management Services's Q3 2015 Portfolio in Review

As of Q3 2015, Trust & Fiduciary Management Services held 46 positions worth $132M, down 36% from $208M the previous quarter. Its ten largest holdings account for 45% of the portfolio.

Trust & Fiduciary Management Services withdrew a net $58.7M in Q3 2015, closing 5 positions and reducing 33 holdings. Its most notable exit was Vanguard Natural Resources, LLC, an estimated $4.67M position sold in full.

By sector, the portfolio is most concentrated in Real Estate at 29% of assets, down from 31% a quarter earlier, followed by Financials and Energy.

Against the trend, Trust & Fiduciary Management Services opened a new position in Cedar Fair worth $2.71M.

  • Trust & Fiduciary Management Services's largest Q3 2015 buy was Cedar Fair: 51,408 shares worth $2.71M.
  • Trust & Fiduciary Management Services added most to Frontier Communications Corp. in Q3 2015, an estimated $876K increase.
  • Trust & Fiduciary Management Services's biggest Q3 2015 reduction was NorthStar Realty Finance Corp., cutting an estimated $5.13M.
  • Trust & Fiduciary Management Services fully exited Vanguard Natural Resources, LLC in Q3 2015, selling an estimated $4.67M.
  • Trust & Fiduciary Management Services's ten largest holdings make up 45% of its $132M portfolio in Q3 2015.
  • Trust & Fiduciary Management Services opened 4 new positions and closed 5 in Q3 2015.
  • Trust & Fiduciary Management Services's portfolio value fell 36% quarter-over-quarter to $132M.

Based on Trust & Fiduciary Management Services's 13F filing for Q3 2015, filed 12 Nov 2015.