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 MARCH 31, 2023
Jackson Financial
4.67%
Ameriprise Financial
3.97%
First Bancorp Puerto Rico
3.72%
Victory Capital Holding
3.41%
Carlyle Group
3.22%
TOP FIVE SHORT EQUITY POSITIONS
United Bankshares Inc
-2.75%
Siteone Landscape
-2.48%
Bank of Hawaii
-2.00%
Empire State Realty Trust
-1.88%
Renasant Corp
-1.87%
SECTOR ALLOCATION
Long Portfolio
S&P 500
Short Portfolio
Commodities
0.0%
0.0%
0.0%
Communication Services
4.3%
8.1%
-0.5%
Consumer Discretionary
2.6%
10.1%
-0.9%
Consumer Staples
0.0%
7.2%
-0.3%
Convertibles
0.0%
0.0%
0.0%
Energy
0.0%
4.6%
0.0%
Equity
0.0%
0.0%
-1.3%
Financials
66.5%
12.9%
-20.1%
Health Care
0.0%
14.2%
0.0%
Industrials
0.3%
8.7%
-2.5%
Materials
3.9%
2.6%
0.0%
Non Convertibles
0.0%
0.0%
0.0%
Real Estate
1.6%
2.6%
-11.0%
Rights
0.0%
0.0%
0.0%
Utilities
0.0%
2.9%
0.0%
Technology
4.8%
26.1%
-0.4%
Total
83.98%
100.0%
-37.04%
BEST PERFORMERS AS OF MARCH 31, 2023
Security Name
Positioning
Contribution
META
Long
0.41%
WBD
Long
0.33%
FRC
Short
0.26%
FCNCA
Long
0.23%
VNO
Short
0.20%
WORST PERFORMERS AS OF MARCH 31, 2023
Security Name
Positioning
Contribution
WAL
Long
-0.53%
BWB
Long
-0.37%
SLM
Long
-0.30%
CFG
Long
-0.19%
WBS
Long
-0.17%
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.
