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, 2021

Navient Corp 4.18%
OneMain Holdings 3.58%
First Bancorp Puerto Rico 3.57%
Realogy 3.13%
Ally Financial 3.09%

TOP FIVE SHORT EQUITY POSITIONS

Duke Realty Corp -1.70%
Capitol Federal Financial -1.52%
American Express -1.03%
Cullen/Frost -1.02%
CVB Financial Corp -0.98%

SECTOR ALLOCATION

  Long Portfolio S&P 500 Short Portfolio
Commodities 0.0% 0.0% 0.0%
Communication Services 2.4% 11.1% 0.0%
Consumer Discretionary 2.5% 12.3% 0.2%
Consumer Staples 0.0% 5.9% 0.0%
Convertibles 0.0% 0.0% 0.0%
Energy 0.0% 2.9% 0.0%
Equity 0.0% 0.0% -6.6%
Financials 65.6% 11.3% -13.9%
Health Care  0.00% 13.0% 0.0%
Industrials 2.5% 8.5% 0.0%
Materials 1.6% 2.6% 0.0%
Non Convertibles 0.0% 0.0% 0.0%
Real Estate 5.0% 2.6% -1.7%
Rights 0.0% 0.0% 0.0%
Utilities 0.0% 2.5% 0.0%
Technology 2.9% 27.4% 0.0%
Total 82.3% 100.0% -22.3%

BEST PERFORMERS AS OF JUNE 30, 2021

Security Name Positioning Contribution
NAVI Long 0.54%
COF Long 0.37%
DPST Short 0.26%
RLGY Long 0.26%
BBXIA Long 0.25%

WORST PERFORMERS AS OF JUNE 30, 2021

Security Name Positioning Contribution
FNMAT Long -0.12%
FNMFN Long -0.11%
LVS Long -0.11%
DRE Short -0.10%
AUD Long -0.09%

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.

PORTFOLIO STATISTICS

AS OF JUNE 30, 2021

Inception August 24, 1992
Total Net Assets $20,940,880
Number of Long Holdings 49
Number of Short Holdings 21

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