Sirios Long/Short Fund
Name
As of 03/25/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
8.7%
1 yr return
21.5%
3 Yr Avg Return
7.0%
5 Yr Avg Return
6.8%
Net Assets
$30.5 M
Holdings in Top 10
58.4%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 2.46%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 127.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$100,000
IRA
$100,000
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 03/25/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
SLHIX - Profile
Distributions
- YTD Total Return 8.7%
- 3 Yr Annualized Total Return 7.0%
- 5 Yr Annualized Total Return 6.8%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio -0.62%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameSirios Long/Short Fund
-
Fund Family NameSirios
-
Inception DateMay 03, 2018
-
Shares OutstandingN/A
-
Share ClassInstl
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerJohn Brennan
Fund Description
Under normal market conditions, the Fund invests in equity securities and equity-related instruments, including derivatives. In managing the Fund, the Adviser takes long positions in companies that exhibit earnings growth potential combined with attractive valuation and short positions in sector and index hedges, puts (single name and indices), and securities of companies with deteriorating fundamentals and/or valuation. The Adviser intends to focus a significant portion of the Fund’s investments in medium to large capitalization growth companies, but the Fund may invest in or have exposure to companies of any size. Generally, small capitalization companies will have an equity market capitalization up to $1 billion, mid-capitalization companies will typically have an equity market capitalization between $1 billion and $10 billion, and large capitalization companies will typically have an equity market capitalization more than $10 billion. The Adviser seeks to maintain the Fund’s net equity exposure between 0% and 90%. Net equity exposure is the value of the Fund’s long positions minus its short positions (including with respect to swaps, the notional short position). The Adviser expects that the Fund’s gross equity exposure will generally be below 160%. Gross equity exposure is the value of the Fund’s long positions plus its short positions. The Fund is non-diversified, which means that a significant portion of the Fund’s assets may be invested in the securities of a single or small number of companies and/or in a more limited number of sectors than a diversified mutual fund. Although the Fund may not “concentrate” (invest 25% or more of its net assets) in any industry, the Fund may focus its investments from time to time in one or more sectors of the economy or stock market. The Fund is not managed to track the geographic or industry composition of any index, and is not expected to correlate with any index.
The Fund will primarily obtain its short exposure through the use of one or more swaps. The Fund may also sell securities short and/or use derivative instruments, such as options (including listed and over-the-counter options), forwards and swaps or combinations of such derivative instruments, as a substitute for investing directly in an underlying asset, to increase returns, to manage foreign currency risk, as part of a hedging strategy or for other purposes related to the management of the Fund. Subject to the requirements of the Investment Company Act of 1940, there is no limit to the amount of the Fund’s assets that may be invested in derivative instruments.
The Fund’s short exposure may create leverage in the Fund which may amplify changes in the Fund’s net asset value. The Fund may also lend portfolio securities to brokers, dealers and other financial organizations meeting capital and other credit requirements or other criteria established by the Fund’s Board of Trustees. Loans of portfolio securities will be collateralized by liquid securities and cash. The Fund may invest cash collateral received in securities consistent with its principal investment strategy.
The Fund’s portfolio of equity securities may include, without limitation, common and preferred stocks, convertible securities, rights and warrants, depositary receipts, real estate investment trusts, pooled investment vehicles, including other investment companies and exchange-traded funds (“ETFs”). The Fund may invest in fixed income securities and other debt instruments, including, without limitation, corporate bonds, convertible bonds, bank loan participations, government securities and money market instruments. The Fund may invest in securities of issuers of any market capitalization. The Fund’s investments may include securities of U.S. and foreign issuers, including securities of issuers in emerging market countries and securities denominated in a currency other than the U.S. dollar. In addition to any encumbered cash proceeds held from short selling, the Fund will typically maintain a cash or cash equivalent position, generally in the range of 0%-40% of the Fund’s assets. The Fund expects to maintain significant short exposure to equity securities and equity-related instruments, including the derivative instruments described below and shares of ETFs. Although the Fund intends to maintain an overall net long position in its portfolio investments under normal market conditions, during periods of stress and deteriorating fundamentals, the Adviser may increase the Fund’s short exposure to a level approaching or exceeding the value of the Fund’s overall long position, exclusive of the Fund’s cash and cash equivalent positions. In such instances where the Fund maintains a net short exposure in its portfolio investments, the Fund will maintain sufficient asset coverage for its short exposure.
SLHIX - Performance
Return Ranking - Trailing
Period | SLHIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 8.7% | -10.4% | 17.0% | 22.81% |
1 Yr | 21.5% | -13.3% | 46.3% | 29.24% |
3 Yr | 7.0%* | -21.3% | 30.5% | 27.15% |
5 Yr | 6.8%* | -4.6% | 25.2% | 50.00% |
10 Yr | N/A* | -4.1% | 9.9% | N/A |
* Annualized
Return Ranking - Calendar
Period | SLHIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 12.9% | -17.3% | 43.8% | 16.96% |
2022 | -10.5% | -54.0% | 17.4% | 52.56% |
2021 | 7.0% | -40.0% | 54.1% | 47.33% |
2020 | 1.2% | -47.6% | 88.4% | 59.03% |
2019 | 15.0% | -20.3% | 62.6% | 16.91% |
Total Return Ranking - Trailing
Period | SLHIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 8.7% | -10.4% | 17.0% | 22.81% |
1 Yr | 21.5% | -13.3% | 46.3% | 29.24% |
3 Yr | 7.0%* | -21.3% | 30.5% | 27.15% |
5 Yr | 6.8%* | -4.6% | 25.2% | 50.00% |
10 Yr | N/A* | -4.1% | 9.9% | N/A |
* Annualized
Total Return Ranking - Calendar
Period | SLHIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 12.9% | -14.5% | 43.8% | 30.41% |
2022 | -8.2% | -54.0% | 50.3% | 53.85% |
2021 | 12.1% | -40.0% | 61.6% | 57.33% |
2020 | 1.9% | -29.9% | 91.0% | 63.89% |
2019 | 15.7% | -17.9% | 79.4% | 30.88% |
NAV & Total Return History
SLHIX - Holdings
Concentration Analysis
SLHIX | Category Low | Category High | SLHIX % Rank | |
---|---|---|---|---|
Net Assets | 30.5 M | 1.04 M | 6.15 B | 83.14% |
Number of Holdings | 66 | 2 | 1788 | 67.46% |
Net Assets in Top 10 | 18.8 M | 474 K | 1.98 B | 73.96% |
Weighting of Top 10 | 58.43% | 0.4% | 101.9% | 30.77% |
Top 10 Holdings
- Dreyfus Treasury Obligations Cash Management Fund 26.31%
- Alcon Inc 6.39%
- SP Global Inc 4.12%
- Boston Scientific Corp 3.80%
- Roper Technologies Inc 3.24%
- HEICO Corp 3.05%
- Microsoft Corp 3.02%
- Globus Medical Inc 2.91%
- Carlyle Group Inc/The 2.82%
- General Electric Co 2.77%
Asset Allocation
Weighting | Return Low | Return High | SLHIX % Rank | |
---|---|---|---|---|
Stocks | 67.76% | 0.00% | 102.24% | 49.11% |
Cash | 30.11% | 0.00% | 102.08% | 39.64% |
Other | 2.13% | -45.12% | 99.51% | 15.38% |
Preferred Stocks | 0.00% | 0.00% | 8.72% | 71.01% |
Convertible Bonds | 0.00% | -0.02% | 4.48% | 65.03% |
Bonds | 0.00% | 0.00% | 95.60% | 75.74% |
Stock Sector Breakdown
Weighting | Return Low | Return High | SLHIX % Rank | |
---|---|---|---|---|
Financial Services | 24.44% | 0.00% | 83.83% | 8.45% |
Healthcare | 18.38% | 0.00% | 100.00% | 21.83% |
Industrials | 17.77% | 0.00% | 31.93% | 7.04% |
Technology | 16.22% | 0.00% | 43.24% | 68.31% |
Consumer Cyclical | 12.24% | 0.00% | 88.83% | 27.46% |
Communication Services | 4.12% | 0.00% | 32.32% | 80.99% |
Energy | 3.76% | 0.00% | 32.57% | 54.93% |
Consumer Defense | 2.87% | 0.00% | 33.38% | 80.99% |
Basic Materials | 0.20% | 0.00% | 28.58% | 91.55% |
Utilities | 0.00% | 0.00% | 21.71% | 94.37% |
Real Estate | 0.00% | 0.00% | 10.93% | 94.37% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | SLHIX % Rank | |
---|---|---|---|---|
US | 67.76% | 0.00% | 102.24% | 43.20% |
Non US | 0.00% | -3.09% | 67.69% | 71.60% |
SLHIX - Expenses
Operational Fees
SLHIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 2.46% | 0.42% | 8.51% | 32.56% |
Management Fee | 1.35% | 0.00% | 2.50% | 70.93% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.03% | 1.54% | N/A |
Sales Fees
SLHIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 2.50% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 4.00% | N/A |
Trading Fees
SLHIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 0.50% | 2.00% | N/A |
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.
SLHIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 127.00% | 0.00% | 479.00% | 51.11% |
SLHIX - Distributions
Dividend Yield Analysis
SLHIX | Category Low | Category High | SLHIX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.00% | 0.00% | 26.87% | 91.81% |
Dividend Distribution Analysis
SLHIX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Annual | Annually | Annual | Annual |
Net Income Ratio Analysis
SLHIX | Category Low | Category High | SLHIX % Rank | |
---|---|---|---|---|
Net Income Ratio | -0.62% | -3.33% | 2.16% | 43.53% |
Capital Gain Distribution Analysis
SLHIX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Dec 15, 2022 | $0.276 | OrdinaryDividend |
Dec 14, 2022 | $0.276 | OrdinaryDividend |
Dec 20, 2019 | $0.057 | OrdinaryDividend |
SLHIX - Fund Manager Analysis
Managers
John Brennan
Start Date
Tenure
Tenure Rank
May 03, 2018
4.08
4.1%
John F. Brennan, Jr. Mr. Brennan co-founded Sirios in July 1999 and currently serves as Managing Director. Prior to co-founding Sirios, Mr. Brennan was a senior vice president of MFS Investment Management where he served as portfolio manager and member of the MFS Advisory Board and MFS Equity Management Group. In addition, he completed the Manufacturing Management Program at General Electric from 1981 through 1983. Mr. Brennan received an MBA from the Stanford University Graduate School of Business in 1985 and a Bachelor of Science degree, summa cum laude, from the University of Rhode Island College of Engineering in 1981.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.07 | 23.55 | 6.05 | 7.93 |