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.
