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U.S. Financials Income Fund

 

USF.UN
CLASS U

Portfolio

Monthly Portfolio List as of October 31, 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
MORGAN STANLEY
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
MARSH & MCLENNAN COS
PUBLIC STORAGE
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 September 2017
  Average for
the Period
Closing
Percent
Average for
the Period
Closing
Percent
Percent of portfolio subject to covered calls 10.4% 7.8% 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 20 Holdings as of September 30, 2018

Sector Allocations
Holding Name % of NAV
The Blackstone Group L.P.      7.2%
Aon PLC      6.4%
JPMorgan Chase & Co.      6.1%
Cash      5.6%
Berkshire Hathaway Inc. Cl B      5.6%
Ameriprise Financial Inc.      5.4%
American Express Company      5.3%
CME Group Inc.      5.2%
Morgan Stanley      5.1%
Aflac Incorporated      5.0%
Capital One Financial Corporation      5.0%
Northern Trust Corporation      4.9%
Bank of America Corporation      4.9%
The PNC Financial Services Group, Inc.      4.9%
The Charles Schwab Corporation      4.8%
Citigroup Inc.      4.5%
Loews Corporation      4.5%
Torchmark Corp      4.1%
Simon Property Group, Inc.      3.1%
KKR & Co. Inc.      2.5%

 

 

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