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U.S. Financials Income Fund

 

USF.UN
CLASS U

Portfolio

Monthly Portfolio List as of September 28, 2018

The following securities were included in the portfolio as at the end of the respective month. For further information on each security please click on the security name.

AFLAC INC
AMERIPRISE FINANCIAL INC
BANK OF AMERICA CORP
BLACKSTONE GROUP LP/THE
CITIGROUP INC
JPMORGAN CHASE & CO
LOEWS CORP
NORTHERN TRUST CORP
SCHWAB (CHARLES) CORP
TORCHMARK CORP
AMERICAN EXPRESS CO
AON PLC
BERKSHIRE HATHAWAY INC-CL B
CAPITAL ONE FINANCIAL CORP
CME GROUP INC
KKR & CO INC -A
MORGAN STANLEY
PNC FINANCIAL SERVICES GROUP
SIMON PROPERTY GROUP INC

Option Strategy

The Fund employs Strathbridge’s proprietary SSO option strategy to generate additional returns above the distributions earned on its equity securities. Click here for a detailed review of the Strathbridge Selective Overwriting (“SSO”) strategy.

Call & Put Options Summary Statistics

The following table provides summary statistics for the level of covered call writing and level of Put buying Year-to-Date for the most recently completed calendar quarter compared to the Prior Fiscal Year ended.

  YTD March 2017
  Average for
the Period
Closing
Percent
Average for
the Period
Closing
Percent
Percent of portfolio subject to covered calls 9.8% 20.0% 4.9% 0.0%
Percent of portfolio hedged with put options 0.0% 0.0% 0.0% 0.0%

Quarterly Portfolio Summary

The quarterly portfolio updates include the top 25 holdings including cash and the percentage for each holding as well as sector or geographic composition.

Top 21 Holdings as of June 30, 2018

Sector Allocations
Holding Name % of NAV
Cash      14.6%
KKR & Co. Inc.      5.9%
JPMorgan Chase & Co.      5.6%
The Charles Schwab Corporation      5.5%
Northern Trust Corporation      5.3%
SPDR S&P Regional Banking ETF      5.2%
Morgan Stanley      5.2%
Aon PLC      5.0%
The Bank of New York Mellon Corporation      4.7%
Bank of America Corporation      4.7%
State Street Corporation      4.4%
Lazard Ltd      4.4%
Prologis, Inc.      4.3%
Aflac Incorporated      4.3%
BlackRock, Inc.      4.1%
iShares U.S. Broker-Dealers & Securities Exchanges ETF      4.0%
American Express Company      3.2%
CME Group Inc.      3.1%
Financial Select Sector SPDR ETF      2.7%
The Carlyle Group L.P.      2.5%
The PNC Financial Services Group, Inc.      2.0%

 

 

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