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U.S. Financials Income Fund

 

USF.UN
CLASS U

Portfolio

Monthly Portfolio List as of December 29, 2017

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.

AMERICAN EXPRESS CO
BANK OF AMERICA CORP
BLACKROCK INC
CME GROUP INC
ISHARES U.S. BROKER-DEALERS ETF
KKR & CO LP
LINCOLN NATIONAL CORP
MARSH & MCLENNAN COS
MORGAN STANLEY
PNC FINANCIAL SERVICES GROUP
STATE STREET CORP
WELLS FARGO & CO
AMERIPRISE FINANCIAL INC
BERKSHIRE HATHAWAY INC-CL B
CITIGROUP INC
INTERCONTINENTAL EXCHANGE INC
JPMORGAN CHASE & CO
LAZARD LTD-CL A
M & T BANK CORP
METLIFE INC
NORTHERN TRUST CORP
SCHWAB (CHARLES) CORP
TRAVELERS COS INC/THE

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 December 2016
  Average for
the Period
Closing
Percent
Average for
the Period
Closing
Percent
Percent of portfolio subject to covered calls 4.9% 0.0% 9.2% 2.6%
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 24 Holdings as of December 31, 2017

Sector Allocations
Holding Name % of NAV
Ameriprise Financial, Inc.      6.3%
CME Group Inc.      6.2%
The Charles Schwab Corporation      5.4%
BlackRock, Inc.      5.3%
JPMorgan Chase & Co.      5.2%
PNC Financial Services Group      5.1%
Northern Trust Corporation      5.0%
Wells Fargo & Company      4.9%
Morgan Stanley      4.6%
Berkshire Hathaway Inc.      4.5%
Citigroup Inc.      3.9%
The Travelers Companies, Inc.      3.9%
Metlife Inc.      3.9%
Marsh & McLennan Companies, Inc.      3.7%
Bank of America Corporation      3.6%
American Express Company      3.5%
Cash      3.5%
iShares U.S. Broker-Dealers & Securities Exchanges ETF      3.5%
Intercontinental Exchange, Inc.      3.0%
Lincoln National Corporation      3.0%
M&T Bank Corporation      2.9%
KKR & Co. L.P.      2.6%
State Street Corporation      2.4%
Lazard Ltd      2.4%

 

 

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