Caldwell & Orkin – Gator Capital Long/Short Fund Portfolio
PORTFOLIO GUIDELINES
Fund Guidelines
A long/short fund
Number of positions are generally 40-60 long and 20-40 short
Exposure Guidelines
Gross exposure is limited to 150% of net assets
Typically 70-90% long gross exposure and 40-60% short exposure
TOP FIVE LONG EQUITY HOLDINGS AS OF MARCH 31, 2019
Citizens Financial Group
2.90%
Blackstone Group
2.49%
KKR & Co
2.41%
BankUnited
2.38%
IAC/InterActiveCorp
2.34%
TOP FIVE SHORT EQUITY HOLDINGS
China Biologic Products
-2.15%
Hamilton Lane
-1.76%
VelocityShares 3X Inverse Silver
-1.65%
Tesla
-1.62%
Celestica
-1.50%
INDUSTRY ALLOCATION
Long Portfolio
S&P 500
Short Portfolio
Basic Materials
1.98
4.30
0.00
Communication Services
0.00
1.08
0.00
Consumer Cyclical Insurance
14.14
13.84
-1.43
Consumer Defensive
1.96
5.83
0.00
Energy
2.93
4.56
0.00
Financial Services
55.79
18.45
-19.95
Healthcare
0.00
14.00
-2.87
Industrials
0.52
17.28
0.00
Real Estate
2.86
1.70
-2.76
Technology
4.42
18.45
-1.32
Utilities
0.00
1.91
0.00
Unclassified
0.00
22.64
0.00
Best Performers
Security Name
Return
1Q19 Contribution
SYF
36.94%
0.51
OMF
31.68%
0.49
MLCO
29.07%
0.46
LEN
25.50%
0.45
CVNA
77.50%
0.40
Worst Performers
Security Name
Return
1Q19 Contribution
SRCL
48.32%
-0.42
RLGY
-21.77%
-0.37
CBPO
20.21%
-0.33
BBBY
33.30%
-0.28
HLNE
18.37%
-0.23
Investing involves risk, including loss of principal. The Fund uses aggressive investment strategies (including short positions and options) that have the potential for yielding high returns; however, these strategies may also result in losses. Stocks sold short have unlimited risk. Investment return and principal value will fluctuate so that an investors shares, when redeemed, may be worth more or less than their original cost. Options are not suitable for all investors.
The Fund is distributed by Ultimus Fund Distributors, LLC.
