EducationUniversity of Houston; University of Texas at Austin
QualificationsMBA in Finance; BBA in Finance
Investment ExperienceInvestment experience since 1993
MLP Protocol Sprint
For the MLP Protocol Sprint portfolio, I pursue higher risks with higher potential total returns. I use an opportunistic and concentrated approach that leverages MLPs and related C-Corps. I will also invest in recent MLP IPOs.
My investment approach is guided by a relative valuation ranking methodology. I invest in smaller, riskier MLPs to potentially capitalize on their potential for higher yields and overall total returns.
I expect this portfolio to generate portfolio volatility that exceeds the S&P 500 Index. The portfolio may have higher turnover driven by changes in relative valuations and changing projected yields.
I manage positions based upon peer segment MLP Protocol rankings (www.MLPprotocol.com
). The rankings take into account underlying company fundamentals and valuations coupled with projected distribution growth and resulting estimated forward yields.
I use market data taken from www.finviz.com
. I use all underlying company financial data from their respective SEC filings and company press releases.
Also, I use analytical tools that I personally created for MLP Protocol. I use the rankings generated by these analytical tools as the foundation for my investment ideas and views.
For this strategy, I take a non-diversified approach focused in energy related MLPs.
Due to the small portfolio size, the portfolio will typically be concentrated in 12 positions or less and will not have any strict position or concentration limits. Cash is a viable position so I may not be fully invested at all times.
The number of holdings will vary from zero on the low end to approximately a dozen on the high end. The number of holdings is dependent upon investment opportunities in the market and overall valuations.
If in my opinion MLP valuations become excessively exuberant, I will tend to have fewer holdings.
Conversely, if overall MLP valuations remain reasonable, then the number of positions will tend to be on the high end, driven by the pursuit of potential higher relative yield and total return.
I will close positions based on expected or actual deterioration in underlying fundamentals or what I believe are excessively high valuations. When I believe valuations are too high, I will exit positions and redeploy capital into less expensive opportunities that I believe offer better return potential.
The portfolio focuses primarily on non-financial company MLPs (mainly energy related ones) that typically generate a K-1 tax form. I will also invest in MLPs that have elected to be taxed as C Corps and also any C Corp deemed to be related to an underlying MLP (General Partner owners for example).
Other Asset Class
Holdings are only visible to invested clients.
If you'd like to discuss this portfolio, contact client relations at 1.866.825.3005.
Covestor inception June 27, 2012
|as of July 21, 2014
||Manager (net of fees)
|Past 30 days
|Past 90 days
|Past 365 days
|Since Covestor inception (Annualized)
Last 365 days
|as of July 21, 2014
||Manager (net of fees)
|Best 30 days
|Worst 30 days
|Value-at-risk (95%, 1 week)
||vs. Alerian MLP
||vs. S&P 500
Transactions are only visible to invested clients.
If you'd like to discuss this portfolio,
contact client relations at 1.866.825.3005.
Past performance is no guarantee of future results.
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".
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.
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.
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.
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.
Leverage indicates the level of margin utilized and is calculated by dividing gross exposure by portfolio net liquidation value.
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.
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.
Index returns do not reflect any management fees, transaction costs or expenses. Individuals cannot invest directly in an Index.