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, 2020
First Bancorp Puerto Rico
3.22%
OneMain Holdings
3.14%
SLM Corp
2.89%
Realogy Holdings
2.88%
Navient Corp
2.87%
TOP FIVE SHORT EQUITY POSITIONS
Capitol Federal Financial
-1.89%
Duke Realty Corp
-1.67%
CVB Financial Corp
-1.09%
Park National Corp
-1.09%
Lakeland Financial Corp
-0.99%
SECTOR ALLOCATION
Long Portfolio
S&P 500
Short Portfolio
Commodities
2.65%
0.00%
0.00%
Communication Services
0.00%
10.70%
0.00%
Consumer Discretionary
6.73%
12.76%
0.00%
Consumer Staples
0.00%
6.48%
0.00%
Convertibles
0.00%
0.00%
0.00%
Energy
0.00%
2.30%
0.00%
Equity
0.00%
0.00%
4.67%
Financials
78.39%
10.34%
15.45%
Health Care
0.00%
13.35%
0.00%
Industrials
2.50%
8.37%
0.00%
Materials
1.25%
2.63%
0.00%
Non Convertibles
0.00%
0.00%
0.00%
Real Estate
4.30%
2.40%
-1.72%
Rights
0.00%
0.00%
0.00%
Utilities
0.00%
2.73%
0.00%
Technology
4.55%
27.61%
0.00%
Total
100.36%
100.00%
-21.85%
Best Performers
Security Name
Positioning
Contribution
BBX
Long
0.85%
WAL
Long
0.69%
FBP
Long
0.67%
OMF
Long
0.58%
RLGY
Long
0.52%
Worst Performers
Security Name
Positioning
Contribution
DPST
Short
-1.24%
LMND
Short
-0.71%
BVH
Long
-0.57%
BX
Long
-0.19%
UBSI
Short
-0.13%
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.
