Fat Pitch Financials Profile Picture Individual Investor

Fat Pitch Financials

Fat Pitch Financials

  • Founded2004

Workouts

This portfolio invests in workouts. Workouts are special situations in which a corporate event sets the future value of a security. Such events include mergers, tender offers, going private transactions and liquidations. This portfolio will take advantage of these arbitrage opportunities without using margin or short positions.

Risk score

Risk Score 4
4
15.4%

Best 30 days

-8.8%

Worst 30 days

Performance

  • 1.2%
    30 day
  • 3.1%
    90 day
  • 11.2%
    365 day
    November 01, 2010
Monthly vs S&P500
Fat Pitch Financials - Workouts Monthly vs S&P500
-11.4% 12 months
  • $10,000 investment min
  • 1.5% fee

Replicability

100.0%
  • Replicable

Top 5 Holdings View all

22.1%
20.3%
18.7%
12.4%
11.0%

Portfolio commentary

  1. It's a challenging environment for Workout opportunities

    17 January 2012

    The spread on risk arbitrage opportunities seemed to shrink over 2011, and tender offer opportunities became scarce.

  2. David Einhorn buys Covestor model holding HII (CAH, CIT) 26 July 2011
  3. Four workouts I'm pursuing - George Silva, Fat Pitch Financials (HII, HQL, APF) 22 June 2011
  4. Seeking profit on H&Q Life Sciences Investors' tender offer - Fat Pitch Financials (HQL) 27 May 2011
  5. Targeting merger arbitrage opportunities in Silverleaf Resorts, L-1 Identity Solutions - Fat Pitch Financials (NVS, SVLF, ID) 12 May 2011

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Performance detail

  • Manager (net of fees)

Performance

Covestor inception November 01, 2010

as of August 19, 2014 Manager (net of fees) S&P 500
Past 30 days 1.2% 0.4%
Past 90 days 3.1% 5.5%
Past 365 days 11.2% 22.9%
Since Covestor inception (Annualized) 11.0% 17.0%
2014 (YTD) 4.4% 8.6%
2013 18.0% 32.4%
2012 14.7% 16.0%
2011 8.3% 2.1%

Risk metrics

Last 365 days

as of August 19, 2014 Manager (net of fees) S&P 500
Best 30 days 7.4% 7.9%
Worst 30 days -5.8% -4.8%
Volatility 10.5% 10.4%
Sharpe Ratio 1.06 2.20
Sortino Ratio 1.59 2.99
Maximum Drawdown -7.1% -5.7%
Value-at-risk (95%, 1 week) -2.4% -2.4%
vs. S&P 500
Information Ratio - 1.22
Alpha -1.1%
Beta 0.58
R-Squared 0.33
  • $10,000 investment min
  • 1.5% fee

Latest transactions View all

Average trades per month 1.6
Executed Symbol Security Replicable Type Price
03/14/14 SWY Safeway Inc Yes Buy $38.28
03/06/14 KN Knowles Corp Yes Buy $30.00
12/11/13 ASIA AsiaInfo-Linkage Inc Yes Buy $11.77
10/08/13 WMS WMS Industries Inc Yes Sell $25.96
09/13/13 MPET Magellan Petroleum Corp Yes Sell $1.05
07/03/13 CTB Cooper Tire & Rubber Co Yes Buy $33.16
05/17/13 LIFE Life Technologies Corp Yes Buy $73.51
05/15/13 APF Morgan Stanley Asia-Pacific Fund Inc Yes Buy $17.48

Important Information

  1. Past performance is no guarantee of future results.
  2. Performance of the portfolio manager's account is calculated by Covestor on a daily time-weighted basis, including cash, dividends and earnings distributions and broker commissions. Manager returns include trades and positions that fail Covestor's trading rules, as a result, actual client returns will differ. Covestor advisory fees are simulated and applied retro-actively to present the portfolio return "net-of-fees".
  3. Average client returns are calculated by Covestor and are composed of the average, time-weighted returns of all active client investments (some of which may contain investment restrictions) to the underlying portfolio. These daily average returns are then linked together for the timeframe presented. These returns include cash, dividends, earnings distributions, brokerage commissions and Covestor advisory fees.
  4. All graph data is as of the end of day for the referenced period, unless otherwise specified. The investment minimum is the minimum investment required to follow a particular portfolio. The minimum amount is determined by Covestor, based on the characteristics of the underlying portfolio. It should not be considered as specific investment advice for your investment situation.
  5. The performance charts are provided for informational purposes only, and should not be used as the basis for making an investment decision. Variables such as corporate actions or foreign exchange may affect daily performance displays. We rely on mathematical formulas, computer programs, and pricing information from third-party vendors to provide these returns. Neither Covestor nor any of its data or content providers shall be liable for any errors in this information or any actions taken by you in reliance upon this information.
  6. Benchmark returns have been calculated by Covestor using a time-weighted calculation of daily index valuations. Benchmarks presented are total return and therefore inclusive of cash, dividends and earnings distributions but not transaction costs. More
  7. Leverage indicates the level of margin utilized and is calculated by dividing gross exposure by portfolio net liquidation value.
  8. All Portfolio Manager information including personal data, profiles, strategies, monthly investment reports, and historical results outside of Covestor has been provided by the Portfolio Manager. Covestor makes no representation or warranty of its accuracy, completeness or relevance and it does not represent the opinions of Covestor. Transaction history is available upon request. Portfolio classifications are provided by Covestor, and are intended to serve as a general guide.
  9. Transactions that are marked as "Replicable" passed Covestor's trading rules and were eligible for replication at the time of execution, subject to individual client constraints. Eligibility for replication may change over time. Actual client investment trade activity may vary.
  10. Index returns do not reflect any management fees, transaction costs or expenses. Individuals cannot invest directly in an Index.