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 DECEMBER 31, 2019
OneMain Holdings
3.39%
KKR & Co
3.27%
IAC/InterActive Corp
3.03%
Credit Suiss-Adr
2.75%
Barclays Plc-Adr
2.74%
TOP FIVE SHORT EQUITY POSITIONS
Tesla Inc.
-2.65%
Invitation Homes Inc.
-2.41%
Direxion Daily Gold Bull
-2.30%
DIRXN DLY JR Bull Gold 3x
-1.88%
Volocityshares 3X LNGSLVR
-1.87%
SECTOR ALLOCATION
Long Portfolio
S&P 500
Short Portfolio
Commodities
0.0%
0.0%
-6.0%
Communication Services
5.3%
10.4%
-1.3%
Consumer Discretionary
11.0%
9.8%
-3.8%
Consumer Staples
0.5%
7.2%
-1.1%
Energy
0.0%
4.3%
-1.7%
ETF’s
0.0%
0.0%
-2.6%
Financials
67.6%
13.0%
-17.3%
Health Care
0.0%
14.2%
-1.1%
Industrials
0.0%
9.1%
-2.3%
Information Technology
3.8%
23.2%
-3.1%
Materials
2.5%
2.7%
-5.9%
Non Convertibles
1.9%
0.0%
0.0%
Real Estate
3.4%
2.9%
-8.7%
Rights
0.0%
0.0%
0.0%
Utilities
0.0%
3.3%
0.0%
Total
95.9%
100.0%
-55.0%
Best Performers
Security Name
Positioning
Contribution
VCTR
Long
0.34%
BCS
Long
0.34%
DRIP
Short
0.30%
WAL
Long
0.27%
MLCO
Long
0.26%
Worst Performers
Security Name
Positioning
Contribution
TSLA
Short
-0.60%
JNUG
Short
-0.32%
AIGWS
Long
-0.30%
Z
Short
-0.25%
NUGT
Short
-0.25%
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.
