Top 10 SAWTOOTH ASSET MANAGEMENT INC Positions in Q3 2015

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Sawtooth Asset Management Inc Holdings Analysis

Sawtooth Asset Management Inc just filed its quarterly 13F. Dated 26/12/2015, the filing shows the investment professional has a portfolio value of $125.71 million, representing a decrease of $81.02 million from the previous quarter when it was $206.74 million. Note: This filling reprents about 58.14% of Sawtooth Asset Management Inc’s assets, which which are listed in the US.

Portfolio Q32015
Market Value:$125,711,000
Previous Mkt Value:$206,735,130
Chg Mkt Value %:-39.19 %
Sentiment:
Turnover %:16.29 %
Stocks Activity
New Purchases:164
Additional Purchases:511
Sold out:538
Reduced:628
Top 10 Holdings %:31.56%

Based on $216.22 million in assets under management, Sawtooth Asset Management Inc’s equity exposure is 58.14% of assets.

New Holdings

During this quarter, Sawtooth Asset Management Inc opened positions in Global Net Lease Inc for $343,000, Kraft Heinz Co for $247,000, Stoneridge Inc (SRI) for $232,000, Proshares Tr (UST) for $224,000 and Ssga Active Etf Tr for $218,000. These were the 5 biggest new positions. In total the investment professional bought 164 new stocks.

Portfolio New Buys

Top 5 New Buys
Global Net Lease Inc0.27%
Kraft Heinz Co0.20%
Stoneridge Inc0.18%
Proshares Tr0.18%
Ssga Active Etf Tr0.17%
13F Sector Allocation
Finance59 %
Health Care9 %
Information Technology6 %
Consumer Discretionary6 %
Industrials5 %

Increased Positions

As revealed in this filing the investment professional increased its stakes in Select Sector Spdr Tr (XLV) by 6% to $5.55 million, Ishares Tr (EFA) by 20% to $4.96 million, Ishares Tr (IVV) by 45% to $4.38 million, Ishares Tr (MBB) by 27% to $3.55 million and Ishares (CLY) by 24% to $1.18 million. Sawtooth Asset Management Inc also acquired smaller stakes in Ishares Tr (SHY) by 249.94% to $3.24 million, Ishares Tr (IEF) by 661.30% to $6.53 million and Ishares Tr (IEI) by 254.34% to $2.99 million. Building positions gradually is well-know strategy for many hedge funds.

Sold Stocks

This fund sold all its stakes in Ishares Tr (IYH), Ishares Tr (IYC), Ishares Tr (IYF), Ishares Tr (IYW) and First Tr Exchange Traded Fd (IFV). These stocks constituted 1.22 %, 1.16 %, 1.14 %, 1.13 % and 0.84 % of the manager’s portfolio, respectively. We can only speculate about the reasons for the dumping but we believe it has to do with either value, momentum or a better place for Sawtooth Asset Management Inc’s capital.

Portfolio Sold All

Reduced Positions

The fund also decreased its postitons in Ishares Tr (IWM) by -95.46%, Ishares Tr (IWB) by -5.61%, Ishares Tr (IJT) by -93.68%, Ishares Tr (IJK) by -94.18% and United Dev Fdg Iv (UDF) by -62.38%.

Top 5 Positions

Ishares Tr (IEF), Select Sector Spdr Tr (XLV) and Ishares Tr (EFA) made up the majority of Sawtooth Asset Management Inc’s total US long portfolio in this quarter. These holdings were top 3 and constitute 13.56% of Sawtooth Asset Management Inc’s US-listed securities. The top 10 holdings make about 31.56% of the fund’s value.

Portfolio Top Holdings

The picture above provides a snapshot of Sawtooth Asset Management Inc’s top 10 US-listed securities in this quarter.

Sector Allocation

Finance Sector Sawtooth Asset Management Inc - Sawtooth Asset Management Inc increased the finance sector from 55 % to 59 %. According to the filing, the investment manager also has securities for 6 % in the consumer discretionary sector. The industrials sector is 5 % of Sawtooth Asset Management Inc’s 13F US-listed securities. The fund decreased the Information Technology, Health Care and Materials sector positions by 6 %, 15 % and 16 %, respectively.

So these are Q3 2015 fund’s sector weights now: finance 59 % for $74.17 million, health care 9 % for $11.31 million, information technology 6 % for $7.54 million, consumer discretionary 6 % for $7.54 million, industrials 5 % for $6.29 million, consumer staples 4 % for $5.03 million, energy 2 % for $2.51 million, utilities & telecommunications 2 % for $2.51 million, materials 1 % for $1.26 million and transports 1 % for $1.26 million.

Important Position Changes

Top 10 Q3 2015 New Positions: Global Net Lease Inc, Kraft Heinz Co, Stoneridge Inc (SRI), Proshares Tr (UST), Ssga Active Etf Tr, Powershares Etf Trust Ii (KBWD), Tier Reit Inc, Baxalta Inc, Paypal Hldgs Inc and Putman High Income Sec Fund (PCF).

Top 10 Q3 2015 Sold Out Completely: Ishares Tr (IYH), Ishares Tr (IYC), Ishares Tr (IYF), Ishares Tr (IYW), First Tr Exchange Traded Fd (IFV), Schwab Strategic Tr (SCHX), First Tr Value Line Divid In (FVD), Hubbell Inc, Schwab Strategic Tr (SCHP) and Vanguard Index Fds (VOO).

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Download the full 13F form in CSV: Q3-2015-Sawtooth-Asset-Management-Inc-13F-Portfolio-Stock-Holdings.csv

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Sawtooth Asset Management Inc – website

13F Filing Link: 000106299315006327

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