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 POSITIONS AS OF JUNE 30, 2020
BBX Capital
3.52%
PennyMac Financial
3.50%
Credit Suisse – ADR
3.30%
Goldman Sachs GP
3.16%
Realogy
3.05%
TOP FIVE SHORT EQUITY POSITIONS
Blackstone Group
-2.16%
Duke Realty Corp
-2.02%
CVB Financial Corp
-1.43%
City Holdings Co.
-1.14%
Lakeland Financial Corp
-1.06%
SECTOR ALLOCATION
Long Portfolio
S&P 500
Short Portfolio
Commodities
0.0%
0.0%
0.0%
Communication Services
2.1%
10.8%
0.0%
Consumer Discretionary
8.8%
10.8%
0.0%
Consumer Staples
0.0%
7.0%
0.0%
Convertibles
2.2%
0.0%
0.0%
Energy
0.0%
2.8%
0.0%
ETF’s
0.0%
0.0%
-1.1%
Financials
71.0%
10.1%
-16.8%
Health Care
0.0%
14.6%
0.0%
Industrials
0.0%
8.0%
0.0%
Information Technology
5.0%
27.5%
0.0%
Materials
1.1%
2.5%
0.0%
Non Convertibles
4.2%
0.0%
0.0%
Real Estate
4.7%
2.8%
-2.7%
Rights
0.0%
0.0%
0.0%
Utilities
0.0%
3.1%
0.0%
Total
99.2%
100.0%
-20.6%
Best Performers
Security Name
Positioning
Contribution
PFSI
Long
1.77%
RLGY
Long
1.35%
AMP
Long
0.99%
CS
Long
0.80%
BSIG
Long
0.78%
Worst Performers
Security Name
Positioning
Contribution
BX
Short
-0.65%
SXC
Long
-0.65%
HST
Short
-0.26%
DRE
Short
-0.20%
NAVI
Long
-0.14%
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.
