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U.S. Financials Income Fund

 

USF.UN
CLASS U

Portfolio

Monthly Portfolio List as of April 30, 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
AMERICAN EXPRESS CO
BANK OF AMERICA CORP
BERKSHIRE HATHAWAY INC-CL B
CME GROUP INC
INTERCONTINENTAL EXCHANGE INC
JPMORGAN CHASE & CO
LAZARD LTD-CL A
MORGAN STANLEY
PNC FINANCIAL SERVICES GROUP
SCHWAB (CHARLES) CORP
STATE STREET CORP
ALLSTATE CORP
AON PLC
BANK OF NEW YORK MELLON CORP
BLACKROCK INC
GOLDMAN SACHS GROUP INC
ISHARES U.S. BROKER-DEALERS
KKR & CO LP
LOEWS CORP
NORTHERN TRUST CORP
PROLOGIS INC
SPDR S&P REGIONAL BANKING ETF

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 24 Holdings as of March 31, 2018

Sector Allocations
Holding Name % of NAV
Cash      7.5%
The Charles Schwab Corporation      5.7%
PNC Financial Services Group      5.6%
Northern Trust Corporation      5.4%
Berkshire Hathaway Inc.      5.2%
BlackRock, Inc.      5.0%
State Street Corporation      4.9%
Aon PLC      4.8%
Morgan Stanley      4.7%
Citigroup Inc.      4.6%
CME Group Inc.      4.6%
iShares U.S. Broker-Dealers & Securities Exchanges ETF      4.3%
Lazard Ltd      4.0%
Bank of America Corporation      4.0%
American Express Company      4.0%
Intercontinental Exchange, Inc.      3.4%
The Allstate Corp.      3.1%
SPDR S&P Regional Banking ETF      3.0%
JPMorgan Chase & Co.      2.8%
M&T Bank Corporation      2.7%
KKR & Co. L.P.      2.6%
Aflac Incorporated      2.4%
The Bank of New York Mellon Corporation      2.4%
Lincoln National Corporation      1.6%

 

 

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