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Otter Creek Long/Short Opportunity Fund
mutual fund
OTCRX
Payout Change
Pending
Price as of:
$14.94
+0.15
+1.01%
primary theme
N/A
share class
OTCRX (Mutual Fund)
Otter Creek Long/Short Opportunity Fund
Payout Change
Pending
Price as of:
$14.94
+0.15
+1.01%
primary theme
N/A
share class
OTCRX (Mutual Fund)
Otter Creek Long/Short Opportunity Fund
Payout Change
Pending
Price as of:
$14.94
+0.15
+1.01%
primary theme
N/A
share class
Name
As of 12/11/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
18.3%
1 yr return
20.5%
3 Yr Avg Return
6.1%
5 Yr Avg Return
7.1%
Net Assets
$141 M
Holdings in Top 10
44.0%
52 WEEK LOW AND HIGH
$14.8
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 2.47%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 101.00%
Redemption Fee 1.00%
Min Investment
Standard (Taxable)
$2,500
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/11/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
OTCRX - Profile
Distributions
- YTD Total Return 18.3%
- 3 Yr Annualized Total Return 6.1%
- 5 Yr Annualized Total Return 7.1%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 0.99%
- Dividend Yield 2.5%
- Dividend Distribution Frequency None
Fund Details
-
Legal NameOtter Creek Long/Short Opportunity Fund
-
Fund Family NameOtter Creek
-
Inception DateDec 30, 2013
-
Shares Outstanding595663
-
Share ClassInvestor
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerTyler Walling
Fund Description
The Fund employs a long/short investment strategy in an attempt to achieve capital appreciation and manage risk. The Fund takes long positions in securities Otter Creek believes to be undervalued and short positions in securities Otter Creek believes to be overvalued. The Fund’s objective is to provide long-term capital appreciation. Under normal market conditions, the net long exposure of the Fund (gross long exposures minus gross short exposures) is expected to range between -35% and +80% net long. The Fund’s investment objective described in the Summary Section is non-fundamental and may be changed without shareholder approval upon 60 days’ written notice to shareholders. There is no assurance that the Fund will achieve its investment objectives.
Under normal market conditions, the Fund primarily invests in equity securities that are traded on U.S. securities exchanges. Equity securities in which the Fund may invest include common stocks, convertibles, preferred stocks, warrants, exchange-traded funds (“ETFs”), American Depositary Receipts (“ADRs”), European Depositary Receipts (“EDRs”) and Global Depositary Receipts (“GDRs”). In addition, the Fund may purchase options on equity securities or security indexes with respect to 10% of its total assets. The Fund may invest in securities of companies that are offered pursuant to an initial public offering (“IPO”). The Fund may invest up to 30% of its total assets in securities of foreign issuers. The Fund may also invest up to 15% of the Fund’s net assets in Master Limited Partnerships (“MLPs”), and up to 30% of the Fund’s net assets in equity Real Estate Investment Trusts (“REITs”). To the extent the Fund invests in MLPs, its investments will be restricted to holding interests as a limited partner in such investments.
The Fund may also invest up to 60% of the Fund’s net assets in fixed income securities including debt issued by the U.S. Government and its agencies, investment grade corporate debt, sub-investment grade corporate debt (otherwise known as high yield securities or “junk bonds”) and convertible bonds. Of the 60% of the Fund’s net assets which may be invested in fixed income securities, up to 20% of the Fund’s net assets may be invested in securities with either an S&P rating of CCC+ or lower or a Moody’s rating of CAA1 or lower, at the time of purchase.
The Fund may hold up to 100% of its assets in cash or cash equivalents, such as U.S. Government obligations, investment grade debt securities and other money market instruments, for temporary defensive purposes due to economic or market conditions.
The Fund may utilize leverage of no more than 30% of the Fund’s total assets as part of the portfolio management process. From time to time, the Fund may invest a significant portion of its assets in the securities of companies in the same sector of the market. The Fund may also invest up to 10% of its net
assets in derivatives including futures, options, swaps and forward foreign currency contracts. These instruments may be used to modify or hedge the Fund’s exposure to a particular investment market related risk, as well as to manage the volatility of the Fund.
The dollar amount of short sales at any one time (not including short sales against the box) may not exceed 100% of the net assets of the Fund, and it is expected that normally the dollar amount of such sales will not exceed 75% of the net assets of the Fund.
OTCRX - Performance
Return Ranking - Trailing
| Period | OTCRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 18.3% | -11.6% | 15.8% | 5.00% |
| 1 Yr | 20.5% | -33.0% | 41.7% | 5.83% |
| 3 Yr | 6.1%* | -10.5% | 13.4% | 7.14% |
| 5 Yr | 7.1%* | -4.8% | 11.1% | 44.58% |
| 10 Yr | 4.6%* | -4.6% | 7.6% | 70.13% |
* Annualized
Return Ranking - Calendar
| Period | OTCRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 1.4% | -31.7% | 23.2% | 21.43% |
| 2022 | -8.2% | -20.7% | 10.7% | 19.59% |
| 2021 | 7.0% | -12.4% | 14.7% | 27.78% |
| 2020 | 5.3% | -13.2% | 12.9% | 94.94% |
| 2019 | 3.8% | -11.7% | 7.9% | 75.71% |
Total Return Ranking - Trailing
| Period | OTCRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 18.3% | -11.7% | 15.8% | 5.00% |
| 1 Yr | 20.5% | -33.0% | 41.7% | 5.83% |
| 3 Yr | 6.1%* | -10.5% | 13.4% | 6.12% |
| 5 Yr | 7.1%* | -4.8% | 11.1% | 42.17% |
| 10 Yr | 4.6%* | -4.6% | 7.6% | 83.44% |
* Annualized
Total Return Ranking - Calendar
| Period | OTCRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 4.4% | -31.7% | 23.2% | 21.43% |
| 2022 | -1.9% | -20.7% | 10.7% | 19.59% |
| 2021 | 9.3% | -12.4% | 14.7% | 38.89% |
| 2020 | 7.3% | -12.7% | 12.9% | 94.94% |
| 2019 | 3.8% | -11.5% | 13.2% | 78.57% |
NAV & Total Return History
OTCRX - Holdings
Concentration Analysis
| OTCRX | Category Low | Category High | OTCRX % Rank | |
|---|---|---|---|---|
| Net Assets | 141 M | 105 K | 12.6 B | 45.19% |
| Number of Holdings | 71 | 5 | 2526 | 81.73% |
| Net Assets in Top 10 | 67 M | -619 M | 6.53 B | 25.96% |
| Weighting of Top 10 | 44.04% | 7.6% | 96.1% | 60.98% |
Top 10 Holdings
- Vertiv Holdings Co 9.29%
- Parsons Corp 5.74%
- Baldwin Insurance Group Inc/The 5.09%
- Quanta Services Inc 4.11%
- Tetra Tech Inc 3.38%
- Hubbell Inc 3.35%
- Alphabet Inc 3.33%
- General Electric Co 3.32%
- NEXTracker Inc 3.22%
- Arthur J Gallagher Co 3.20%
Asset Allocation
| Weighting | Return Low | Return High | OTCRX % Rank | |
|---|---|---|---|---|
| Stocks | 53.93% | -57.09% | 325.56% | 34.62% |
| Cash | 46.07% | -225.56% | 102.75% | 42.31% |
| Convertible Bonds | 0.14% | 0.00% | 95.47% | 21.15% |
| Preferred Stocks | 0.00% | 0.00% | 5.67% | 44.23% |
| Other | 0.00% | -11.90% | 43.69% | 52.88% |
| Bonds | 0.00% | -1.04% | 63.30% | 22.12% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | OTCRX % Rank | |
|---|---|---|---|---|
| Industrials | 25.40% | 0.00% | 27.58% | 7.53% |
| Financial Services | 17.91% | 0.00% | 98.37% | 32.26% |
| Technology | 15.52% | 0.00% | 100.00% | 29.03% |
| Communication Services | 11.66% | 0.00% | 33.72% | 68.82% |
| Healthcare | 10.89% | 0.00% | 27.28% | 18.28% |
| Real Estate | 4.83% | 0.00% | 93.91% | 84.95% |
| Utilities | 4.80% | 0.00% | 66.28% | 9.68% |
| Basic Materials | 4.79% | 0.00% | 42.74% | 41.94% |
| Consumer Cyclical | 4.20% | 0.00% | 29.06% | 58.06% |
| Energy | 0.00% | 0.00% | 53.30% | 80.65% |
| Consumer Defense | 0.00% | 0.00% | 30.58% | 77.42% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | OTCRX % Rank | |
|---|---|---|---|---|
| US | 53.93% | -55.82% | 325.56% | 33.65% |
| Non US | 0.00% | -7.09% | 86.98% | 80.77% |
OTCRX - Expenses
Operational Fees
| OTCRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 2.47% | 0.73% | 9.52% | 49.51% |
| Management Fee | 1.35% | 0.13% | 1.65% | 84.62% |
| 12b-1 Fee | 0.25% | 0.00% | 1.00% | 33.90% |
| Administrative Fee | N/A | 0.06% | 0.40% | N/A |
Sales Fees
| OTCRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 2.75% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
| OTCRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | 1.00% | 1.00% | 2.00% | 64.29% |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| OTCRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 101.00% | 30.00% | 483.00% | 32.58% |
OTCRX - Distributions
Dividend Yield Analysis
| OTCRX | Category Low | Category High | OTCRX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 2.49% | 0.00% | 0.75% | 25.00% |
Dividend Distribution Analysis
| OTCRX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | None | Annually | Quarterly | Annually |
Net Income Ratio Analysis
| OTCRX | Category Low | Category High | OTCRX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 0.99% | -2.49% | 4.20% | 22.33% |
Capital Gain Distribution Analysis
| OTCRX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 15, 2023 | $0.369 | OrdinaryDividend |
| Dec 15, 2022 | $0.852 | OrdinaryDividend |
| Dec 15, 2021 | $0.295 | OrdinaryDividend |
| Dec 15, 2020 | $0.232 | OrdinaryDividend |
| Dec 17, 2018 | $0.069 | CapitalGainLongTerm |
| Dec 29, 2014 | $0.001 | CapitalGainShortTerm |
| Dec 29, 2014 | $0.006 | CapitalGainLongTerm |
OTCRX - Fund Manager Analysis
Managers
Tyler Walling
Start Date
Tenure
Tenure Rank
Dec 30, 2013
8.42
8.4%
Tyler C. Walling. Mr. Walling is a Principal and Portfolio Manager with Otter Creek Advisors, LLC. Mr. Walling joined the previous investment advisor in May 2011 and serves as an investment professional. Prior to joining the General Partner of Otter Creek Management, Mr. Walling worked at Goldman Sachs & Co., an investment banking and securities firm, in New York, New York, as a Global Investment Research Associate in from August 2009 through May 2011 and as a Global Investment Research Analyst from July 2006 through July 2009. While at Goldman Sachs & Co., Mr. Walling performed in-depth fundamental research and analysis for food, beverage, and tobacco companies, auto manufacturers and auto parts suppliers. Mr. Walling received his BS in Finance from Lehigh University in 2006.
R. Long
Start Date
Tenure
Tenure Rank
Aug 19, 2019
2.78
2.8%
Roger Keith Long founded Otter Creek Management in 1991 and Co-founded Otter Creek Advisors in 2014. Mr. Long is currently President of Otter Creek Management and was a sole portfolio manager. From 1973 to 1979, Mr. Long was employed as a portfolio manager at Lionel D. Edit & Co., Chicago, Illinois. In 1979, Mr. Long joined Delphi Capital Management in Chicago, where he served as a portfolio manager and investment analyst. He joined Kidder Peabody & Co.’s Chicago office in 1981 as a fixed income analyst specializing in arbitrage trading. In 1983, Mr. Long joined Morgan Stanley & Co. in New York, as a fixed income analyst and arbitrage trader. He was promoted to Vice President in 1985 and Principal in 1987. In 1991, Mr. Long left Morgan Stanley to start Otter Creek Management. Mr. Long received a B.S. degree and an M.B.A. degree, both in Finance, from Indiana University. He served in the U.S. Army from 1970 to 1971 as an artillery officer and was honorably discharged with the rank of First Lieutenant.
Cory Reed
Start Date
Tenure
Tenure Rank
Apr 14, 2022
0.13
0.1%
Cory J. Reed, CFA. Mr. Reed is a Principal and Portfolio Manager with the Advisor. Mr. Reed joined the investment advisor in September 2016 and served as an investment professional. Prior to joining Otter Creek Advisors, Mr. Reed worked at Tetrem Capital Management, a Canadian investment firm based in Winnipeg, MB and Boston, MA, as Head of Trading from March 2013 through September 2016. Prior to that Mr. Reed spent time at LPL Financial in the research department, and with Needham and Company. While at Needham and Co. Mr. Reed performed in-depth fundamental research and analysis for Financial Technology, and IT Hardware companies. Mr. Reed started his career with Westfield Capital Management as an Assistant Trader. Mr. Reed received his BS in Business Administration from The University of Maine in 2007. Mr. Reed is also a CFA Charter holder.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 30.59 | 6.3 | 9.42 |
