Q3 2014
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| VLO | Buy | VALERO ENERGY CORP NEW | $370,000 | +22.9% | 8,000 | +33.3% | 9.88% | +3.1% |
| XL | New | XL GROUP PLC | $332,000 | – | 10,000 | – | 8.86% | – |
| PFE | New | PFIZER INC | $296,000 | – | 10,000 | – | 7.90% | – |
| ARCC | New | ARES CAP CORP | $162,000 | – | 10,000 | – | 4.33% | – |
| STWD | Sell | STARWOOD PPTY TR INC | $110,000 | -53.8% | 5,000 | -50.0% | 2.94% | -61.2% |
| PGNPQ | New | PARAGON OFFSHORE PLC | $31,000 | – | 5,000 | – | 0.83% | – |
| LE | Exit | LANDS END INC NEW | $0 | – | -2,500 | – | -2.67% | – |
Q2 2014
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| JPM | New | JPMORGAN CHASE & CO | $576,000 | – | 10,000 | – | 18.33% | – |
| VZ | New | VERIZON COMMUNICATIONS INC | $489,000 | – | 10,000 | – | 15.56% | – |
| AUY | New | YAMANA GOLD INC | $329,000 | – | 40,000 | – | 10.47% | – |
| VLO | New | VALERO ENERGY CORP NEW | $301,000 | – | 6,000 | – | 9.58% | – |
| SPR | New | SPIRIT AEROSYSTEMS HLDGS INC | $253,000 | – | 7,500 | – | 8.05% | – |
| ACRE | New | ARES COML REAL ESTATE CORP | $248,000 | – | 20,000 | – | 7.89% | – |
| EWZ | New | ISHARES MSCI BRZ CAP ETFetf | $239,000 | – | 5,000 | – | 7.61% | – |
| STWD | New | STARWOOD PPTY TR INC | $238,000 | – | 10,000 | – | 7.58% | – |
| PFLT | New | PENNANTPARK FLOATING RATE CA | $229,000 | – | 16,000 | – | 7.29% | – |
| EVV | New | EATON VANCE LTD DUR INCOME F | $156,000 | – | 10,000 | – | 4.96% | – |
| LE | New | LANDS END INC NEW | $84,000 | – | 2,500 | – | 2.67% | – |
Q4 2013
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| ECA | Exit | ENCANA CORP | $0 | – | -17,649 | – | -0.09% | – |
| TLM | Exit | TALISMAN ENERGY INC | $0 | – | -27,982 | – | -0.10% | – |
| CIM | Exit | CHIMERA INVT CORP | $0 | – | -116,942 | – | -0.11% | – |
| ARI | Exit | APOLLO COML REAL EST FIN INC | $0 | – | -31,608 | – | -0.15% | – |
| ACRE | Exit | ARES COML REAL ESTATE CORP | $0 | – | -40,452 | – | -0.15% | – |
| FHN | Exit | FIRST HORIZON NATL CORP | $0 | – | -50,000 | – | -0.17% | – |
| MFA | Exit | MFA FINL INC | $0 | – | -90,000 | – | -0.20% | – |
| LMT | Exit | LOCKHEED MARTIN CORP | $0 | – | -6,178 | – | -0.24% | – |
| GTN | Exit | GRAY TELEVISION INC | $0 | – | -105,860 | – | -0.25% | – |
| AWI | Exit | ARMSTRONG WORLD INDS INC NEW | $0 | – | -18,881 | – | -0.32% | – |
| MIG | Exit | MEADOWBROOK INS GROUP INC | $0 | – | -193,251 | – | -0.38% | – |
| JPM | Exit | JPMORGAN CHASE & CO | $0 | – | -37,789 | – | -0.59% | – |
| MA | Exit | MASTERCARD INCcl a | $0 | – | -3,423 | – | -0.70% | – |
| TWGP | Exit | TOWER GROUP INTL LTD | $0 | – | -350,000 | – | -0.74% | – |
| CONE | Exit | CYRUSONE INC | $0 | – | -134,781 | – | -0.78% | – |
| SLCA | Exit | U S SILICA HLDGS INC | $0 | – | -118,798 | – | -0.90% | – |
| AEM | Exit | AGNICO EAGLE MINES LTD | $0 | – | -148,559 | – | -1.19% | – |
| NEM | Exit | NEWMONT MINING CORP | $0 | – | -156,032 | – | -1.33% | – |
| V | Exit | VISA INC | $0 | – | -24,824 | – | -1.44% | – |
| GG | Exit | GOLDCORP INC NEW | $0 | – | -203,878 | – | -1.61% | – |
| CKEC | Exit | CARMIKE CINEMAS INC | $0 | – | -288,236 | – | -1.93% | – |
| TWC | Exit | TIME WARNER CABLE INC | $0 | – | -96,363 | – | -3.26% | – |
| TMUS | Exit | T-MOBILE US INC | $0 | – | -415,397 | – | -3.27% | – |
| GDPMQ | Exit | GOODRICH PETE CORP | $0 | – | -456,242 | – | -3.36% | – |
| NBR | Exit | NABORS INDUSTRIES LTD | $0 | – | -729,168 | – | -3.55% | – |
| NWSA | Exit | NEWS CORP NEWcl a | $0 | – | -757,661 | – | -3.69% | – |
| PNK | Exit | PINNACLE ENTMT INC | $0 | – | -493,998 | – | -3.75% | – |
| RHP | Exit | RYMAN HOSPITALITY PPTYS INC | $0 | – | -376,079 | – | -3.93% | – |
| MLCO | Exit | MELCO CROWN ENTMT LTDadr | $0 | – | -431,547 | – | -4.16% | – |
| 3106SC | Exit | SUSSER HLDGS CORP | $0 | – | -269,008 | – | -4.33% | – |
| EBAY | Exit | EBAY INC | $0 | – | -302,717 | – | -5.12% | – |
| COF | Exit | CAPITAL ONE FINL CORP | $0 | – | -274,192 | – | -5.71% | – |
| LTM | Exit | LIFE TIME FITNESS INC | $0 | – | -405,029 | – | -6.32% | – |
| EXP | Exit | EAGLE MATERIALS INC | $0 | – | -293,246 | – | -6.45% | – |
| NCR | Exit | NCR CORP NEW | $0 | – | -564,807 | – | -6.78% | – |
| XL | Exit | XL GROUP PLC | $0 | – | -769,452 | – | -7.19% | – |
| HOT | Exit | STARWOOD HOTELS&RESORTS WRLD | $0 | – | -383,372 | – | -7.72% | – |
| WYND | Exit | WYNDHAM WORLDWIDE CORP | $0 | – | -436,375 | – | -8.06% | – |
Q3 2013
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| WYND | Sell | WYNDHAM WORLDWIDE CORP | $26,606,000 | -3.5% | 436,375 | -9.4% | 8.06% | +26.2% |
| HOT | Sell | STARWOOD HOTELS&RESORTS WRLD | $25,475,000 | -5.6% | 383,372 | -10.3% | 7.72% | +23.4% |
| XL | Sell | XL GROUP PLC | $23,715,000 | -5.4% | 769,452 | -6.9% | 7.19% | +23.8% |
| NCR | Sell | NCR CORP NEW | $22,372,000 | -16.0% | 564,807 | -30.0% | 6.78% | +9.9% |
| EXP | Sell | EAGLE MATERIALS INC | $21,275,000 | -17.1% | 293,246 | -24.3% | 6.45% | +8.4% |
| LTM | Buy | LIFE TIME FITNESS INC | $20,847,000 | +6.6% | 405,029 | +3.8% | 6.32% | +39.4% |
| COF | Sell | CAPITAL ONE FINL CORP | $18,848,000 | -27.5% | 274,192 | -33.8% | 5.71% | -5.2% |
| EBAY | Sell | EBAY INC | $16,890,000 | -3.5% | 302,717 | -10.6% | 5.12% | +26.2% |
| 3106SC | Sell | SUSSER HLDGS CORP | $14,298,000 | -12.4% | 269,008 | -21.1% | 4.33% | +14.6% |
| MLCO | Buy | MELCO CROWN ENTMT LTDadr | $13,736,000 | +48.6% | 431,547 | +4.4% | 4.16% | +94.4% |
| RHP | Buy | RYMAN HOSPITALITY PPTYS INC | $12,978,000 | -4.4% | 376,079 | +8.0% | 3.93% | +25.0% |
| PNK | Sell | PINNACLE ENTMT INC | $12,375,000 | -47.1% | 493,998 | -58.4% | 3.75% | -30.8% |
| NWSA | New | NEWS CORP NEWcl a | $12,168,000 | – | 757,661 | – | 3.69% | – |
| NBR | Sell | NABORS INDUSTRIES LTD | $11,710,000 | -32.6% | 729,168 | -35.7% | 3.55% | -11.8% |
| GDPMQ | Sell | GOODRICH PETE CORP | $11,082,000 | -31.9% | 456,242 | -64.1% | 3.36% | -10.9% |
| TMUS | Buy | T-MOBILE US INC | $10,788,000 | +34.1% | 415,397 | +28.1% | 3.27% | +75.4% |
| TWC | Buy | TIME WARNER CABLE INC | $10,754,000 | +168.2% | 96,363 | +170.3% | 3.26% | +250.8% |
| CKEC | Sell | CARMIKE CINEMAS INC | $6,364,000 | -28.6% | 288,236 | -37.4% | 1.93% | -6.6% |
| GG | New | GOLDCORP INC NEW | $5,303,000 | – | 203,878 | – | 1.61% | – |
| V | Sell | VISA INC | $4,744,000 | -34.5% | 24,824 | -37.3% | 1.44% | -14.3% |
| NEM | New | NEWMONT MINING CORP | $4,384,000 | – | 156,032 | – | 1.33% | – |
| AEM | New | AGNICO EAGLE MINES LTD | $3,932,000 | – | 148,559 | – | 1.19% | – |
| SLCA | Sell | U S SILICA HLDGS INC | $2,958,000 | -63.0% | 118,798 | -69.1% | 0.90% | -51.6% |
| CONE | Sell | CYRUSONE INC | $2,561,000 | -21.1% | 134,781 | -13.9% | 0.78% | +3.2% |
| TWGP | Sell | TOWER GROUP INTL LTD | $2,450,000 | -76.0% | 350,000 | -61.0% | 0.74% | -68.6% |
| MA | Sell | MASTERCARD INCcl a | $2,303,000 | -67.5% | 3,423 | -72.3% | 0.70% | -57.5% |
| JPM | Sell | JPMORGAN CHASE & CO | $1,953,000 | -92.6% | 37,789 | -92.5% | 0.59% | -90.4% |
| MIG | New | MEADOWBROOK INS GROUP INC | $1,256,000 | – | 193,251 | – | 0.38% | – |
| AWI | New | ARMSTRONG WORLD INDS INC NEW | $1,038,000 | – | 18,881 | – | 0.32% | – |
| GTN | Sell | GRAY TELEVISION INC | $831,000 | -68.7% | 105,860 | -71.3% | 0.25% | -59.0% |
| LMT | Sell | LOCKHEED MARTIN CORP | $788,000 | +2.9% | 6,178 | -12.5% | 0.24% | +35.0% |
| MFA | Buy | MFA FINL INC | $671,000 | +113.7% | 90,000 | +142.2% | 0.20% | +178.1% |
| FHN | New | FIRST HORIZON NATL CORP | $550,000 | – | 50,000 | – | 0.17% | – |
| ACRE | Sell | ARES COML REAL ESTATE CORP | $503,000 | -58.1% | 40,452 | -56.8% | 0.15% | -45.3% |
| ARI | Buy | APOLLO COML REAL EST FIN INC | $483,000 | +4.1% | 31,608 | +8.2% | 0.15% | +36.4% |
| CIM | Sell | CHIMERA INVT CORP | $356,000 | -61.5% | 116,942 | -62.1% | 0.11% | -49.5% |
| TLM | Sell | TALISMAN ENERGY INC | $322,000 | -94.8% | 27,982 | -94.8% | 0.10% | -93.1% |
| ECA | New | ENCANA CORP | $306,000 | – | 17,649 | – | 0.09% | – |
| GOLD | Exit | BARRICK GOLD CORP | $0 | – | -19,463 | – | -0.07% | – |
| TLAB | Exit | TELLABS INC | $0 | – | -250,000 | – | -0.11% | – |
| APOL | Exit | APOLLO GROUP INCcl a | $0 | – | -100,000 | – | -0.41% | – |
| BRSWQ | Exit | BRISTOW GROUP INC | $0 | – | -27,549 | – | -0.42% | – |
| A309PS | Exit | DIRECTV | $0 | – | -30,000 | – | -0.43% | – |
| PNNT | Exit | PENNANTPARK INVT CORP | $0 | – | -188,850 | – | -0.48% | – |
| IVR | Exit | INVESCO MORTGAGE CAPITAL INC | $0 | – | -143,108 | – | -0.55% | – |
| BXMT | Exit | BLACKSTONE MTG TR INC | $0 | – | -102,075 | – | -0.58% | – |
| RCL | Exit | ROYAL CARIBBEAN CRUISES LTD | $0 | – | -86,361 | – | -0.67% | – |
| CCL | Exit | CARNIVAL CORPpaired ctf | $0 | – | -88,417 | – | -0.70% | – |
| SBGI | Exit | SINCLAIR BROADCAST GROUP INCcl a | $0 | – | -144,122 | – | -0.98% | – |
| CHSP | Exit | CHESAPEAKE LODGING TRsh ben int | $0 | – | -218,064 | – | -1.05% | – |
| ASCA | Exit | AMERISTAR CASINOS INC | $0 | – | -185,903 | – | -1.13% | – |
| RIG | Exit | TRANSOCEAN LTD | $0 | – | -123,515 | – | -1.37% | – |
| WFC | Exit | WELLS FARGO & CO NEW | $0 | – | -147,583 | – | -1.41% | – |
Q2 2013
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| WYND | New | WYNDHAM WORLDWIDE CORP | $27,570,000 | – | 481,741 | – | 6.39% | – |
| HOT | New | STARWOOD HOTELS&RESORTS WRLD | $26,999,000 | – | 427,272 | – | 6.26% | – |
| NCR | New | NCR CORP NEW | $26,625,000 | – | 807,059 | – | 6.17% | – |
| JPM | New | JPMORGAN CHASE & CO | $26,510,000 | – | 502,172 | – | 6.14% | – |
| COF | New | CAPITAL ONE FINL CORP | $26,008,000 | – | 414,070 | – | 6.02% | – |
| EXP | New | EAGLE MATERIALS INC | $25,673,000 | – | 387,402 | – | 5.95% | – |
| XL | New | XL GROUP PLC | $25,059,000 | – | 826,497 | – | 5.80% | – |
| PNK | New | PINNACLE ENTMT INC | $23,381,000 | – | 1,188,664 | – | 5.42% | – |
| LTM | New | LIFE TIME FITNESS INC | $19,560,000 | – | 390,347 | – | 4.53% | – |
| EBAY | New | EBAY INC | $17,509,000 | – | 338,541 | – | 4.06% | – |
| NBR | New | NABORS INDUSTRIES LTD | $17,364,000 | – | 1,134,153 | – | 4.02% | – |
| 3106SC | New | SUSSER HLDGS CORP | $16,315,000 | – | 340,756 | – | 3.78% | – |
| GDPMQ | New | GOODRICH PETE CORP | $16,267,000 | – | 1,270,832 | – | 3.77% | – |
| RHP | New | RYMAN HOSPITALITY PPTYS INC | $13,582,000 | – | 348,162 | – | 3.15% | – |
| TWGP | New | TOWER GROUP INTL LTD | $10,188,000 | – | 896,728 | – | 2.36% | – |
| MLCO | New | MELCO CROWN ENTMT LTDadr | $9,245,000 | – | 413,448 | – | 2.14% | – |
| CKEC | New | CARMIKE CINEMAS INC | $8,917,000 | – | 460,601 | – | 2.07% | – |
| TMUS | New | T-MOBILE US INC | $8,047,000 | – | 324,354 | – | 1.86% | – |
| SLCA | New | U S SILICA HLDGS INC | $7,997,000 | – | 384,850 | – | 1.85% | – |
| V | New | VISA INC | $7,239,000 | – | 39,612 | – | 1.68% | – |
| MA | New | MASTERCARD INCcl a | $7,088,000 | – | 12,338 | – | 1.64% | – |
| TLM | New | TALISMAN ENERGY INC | $6,143,000 | – | 537,431 | – | 1.42% | – |
| WFC | New | WELLS FARGO & CO NEW | $6,091,000 | – | 147,583 | – | 1.41% | – |
| RIG | New | TRANSOCEAN LTD | $5,923,000 | – | 123,515 | – | 1.37% | – |
| ASCA | New | AMERISTAR CASINOS INC | $4,887,000 | – | 185,903 | – | 1.13% | – |
| CHSP | New | CHESAPEAKE LODGING TRsh ben int | $4,534,000 | – | 218,064 | – | 1.05% | – |
| SBGI | New | SINCLAIR BROADCAST GROUP INCcl a | $4,233,000 | – | 144,122 | – | 0.98% | – |
| TWC | New | TIME WARNER CABLE INC | $4,010,000 | – | 35,655 | – | 0.93% | – |
| CONE | New | CYRUSONE INC | $3,246,000 | – | 156,489 | – | 0.75% | – |
| CCL | New | CARNIVAL CORPpaired ctf | $3,032,000 | – | 88,417 | – | 0.70% | – |
| RCL | New | ROYAL CARIBBEAN CRUISES LTD | $2,879,000 | – | 86,361 | – | 0.67% | – |
| GTN | New | GRAY TELEVISION INC | $2,655,000 | – | 368,772 | – | 0.62% | – |
| BXMT | New | BLACKSTONE MTG TR INC | $2,521,000 | – | 102,075 | – | 0.58% | – |
| IVR | New | INVESCO MORTGAGE CAPITAL INC | $2,370,000 | – | 143,108 | – | 0.55% | – |
| PNNT | New | PENNANTPARK INVT CORP | $2,087,000 | – | 188,850 | – | 0.48% | – |
| A309PS | New | DIRECTV | $1,849,000 | – | 30,000 | – | 0.43% | – |
| BRSWQ | New | BRISTOW GROUP INC | $1,800,000 | – | 27,549 | – | 0.42% | – |
| APOL | New | APOLLO GROUP INCcl a | $1,772,000 | – | 100,000 | – | 0.41% | – |
| ACRE | New | ARES COML REAL ESTATE CORP | $1,201,000 | – | 93,719 | – | 0.28% | – |
| CIM | New | CHIMERA INVT CORP | $925,000 | – | 308,368 | – | 0.21% | – |
| LMT | New | LOCKHEED MARTIN CORP | $766,000 | – | 7,063 | – | 0.18% | – |
| TLAB | New | TELLABS INC | $494,000 | – | 250,000 | – | 0.11% | – |
| ARI | New | APOLLO COML REAL EST FIN INC | $464,000 | – | 29,210 | – | 0.11% | – |
| MFA | New | MFA FINL INC | $314,000 | – | 37,158 | – | 0.07% | – |
| GOLD | New | BARRICK GOLD CORP | $306,000 | – | 19,463 | – | 0.07% | – |