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 SEPTEMBER 30, 2020

Realogy Holdings 3.74%
BBX Capital Corp 3.58%
OneMain Holdings Inc. 3.21%
Credit Suisse – ADR 3.08%
Ameriprise Financial 2.83%

TOP FIVE SHORT EQUITY POSITIONS

Rocket Coos Inc -2.09%
DRX Dly Reg Bank Bull 3x -2.06%
Duk Realty Corp -2.03%
Lemonade Inc -2.01%
Blackstone Group -1.92%

SECTOR ALLOCATION

  Long Portfolio S&P 500 Short Portfolio
Commodities 2.46% 0.00% 0.00%
Communication Services 0.00% 0.00% 10.94%
Consumer Discretionary 8.22% 0.00% 11.25%
Consumer Staples 0.00% 0.00% 6.98%
Convertibles 0.00% 0.00% 0.00%
Energy 0.00% 0.00% 2.46%
ETF’s 0.00% 0.00% 0.00%
Financials 72.51% 17.51% 9.86%
Health Care  0.00% 0.00% 14.31%
Industrials 2.21% 0.00% 8.08%
Information Technology 5.03% 0.00% 27.59%
Materials 1.26% 0.00% 2.58%
Non Convertibles 0.00% 0.00% 0.00%
Real Estate 5.30% 2.74% 2.70%
Rights 0.00% 0.00% 0.00%
Utilities  0.00% 0.00% 2.98%
Total 96.98% 20.25% 99.73%

Best Performers

Security Name Positioning Contribution
PFSI Long 1.25%
OMF Long 0.93%
RLGY Long 0.81%
LMND Short 0.55%
NAVI Long 0.53%

Worst Performers

Security Name Positioning Contribution
BX Long -0.41%
SXC Long -0.29%
HST Long -0.28%
DRE Long -0.26%
NAVI Long -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.

PORTFOLIO STATISTICS

AS OF SEPTEMBER 30, 2020

Inception August 24, 1992
Total Net Assets $13,612,769
Number of Long Holdings 57
Number of Short Holdings 22

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