XPNNX: The 504 Fund Shs of Benef Interest

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XPNNX The 504 Fund Shs of Benef Interest


Profile

XPNNX - Profile

Vitals

  • YTD Return 2.5%
  • 3 Yr Annualized Return 0.8%
  • 5 Yr Annualized Return 0.2%
  • Net Assets $N/A
  • Holdings in Top 10 66.5%

52 WEEK LOW AND HIGH

$10.02
$9.10
$10.13

Expenses

OPERATING RELATED FEES

  • Expense Ratio N/A

SALES FEES

  • Front Load 1.00%
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover N/A

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $10,000
  • IRA N/A

Fund Classification

  • Primary Caregory N/A
  • Fund Type Closed-end mutual fund
  • Investment Style Bank Loan

Distributions

  • YTD Total Return 2.5%
  • 3 Yr Annualized Total Return 0.8%
  • 5 Yr Annualized Total Return 0.2%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio N/A
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Bluestone Community Development Fund
  • Fund Family Name
    Bluestone Capital Partners LLC
  • Inception Date
    Dec 16, 2013
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Jordan Blanchard

Fund Description

Under normal market conditions, the fund will invest at least 80% of its total assets in 504 First Lien Loans. 504 First Lien Loans are made to small businesses for the purchase or improvement of land and buildings. It is non-diversified.


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Categories

Performance

XPNNX - Performance

Return Ranking - Trailing

Period XPNNX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.5% -17.9% 2.5% 2.38%
1 Yr 2.0% -21.9% 4.2% 4.76%
3 Yr 0.8%* -12.7% 0.8% 2.94%
5 Yr 0.2%* -9.0% 1.4% 6.45%
10 Yr N/A* -2.8% -0.6% N/A

* Annualized

Return Ranking - Calendar

Period XPNNX Return Category Return Low Category Return High Rank in Category (%)
2019 1.5% -4.9% 7.5% 70.00%
2018 -0.7% -18.4% 5.5% 10.00%
2017 -0.1% -4.2% 3.7% 36.36%
2016 -1.8% -65.0% 18.1% 93.75%
2015 0.6% -22.0% 0.6% 3.23%

Total Return Ranking - Trailing

Period XPNNX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.5% -17.9% 2.5% 2.38%
1 Yr 2.9% -21.9% 4.2% 4.76%
3 Yr 0.8%* -12.7% 3.1% 5.88%
5 Yr 0.2%* -9.0% 3.9% 9.68%
10 Yr N/A* -2.8% -0.6% N/A

* Annualized

Total Return Ranking - Calendar

Period XPNNX Return Category Return Low Category Return High Rank in Category (%)
2019 1.5% -4.9% 7.5% 72.50%
2018 -0.7% -18.4% 5.5% 12.50%
2017 -0.1% -4.2% 3.8% 39.39%
2016 -1.8% -65.0% 18.1% 96.88%
2015 0.6% -22.0% 4.8% 9.68%

NAV & Total Return History


Holdings

XPNNX - Holdings

Concentration Analysis

XPNNX Category Low Category High XPNNX % Rank
Net Assets N/A 47.4 M 1.3 B N/A
Number of Holdings 27 27 740 97.37%
Net Assets in Top 10 27.8 M -208 M 609 M 60.53%
Weighting of Top 10 66.53% 7.3% 94.9% 13.51%

Top 10 Holdings

  1. 1999 Otto Family Tr Var. 5.744% 10/16/27 12.37%
  2. Mcdonough Hosptlty Bkdebt 5.25 9/05/24 11.60%
  3. Akt Elevon Ptnrs Llc Var. 4.97% 10/1/2045 9.99%
  4. 1250 Philadelphia Ll Var. 5.93% 10/15/39 5.81%
  5. Bellaire, Llc Bk Ln Var. 5.78% 9/15/2039 5.13%
  6. Ruby View Investmnts Bkdebt6.50 6/26/37 4.70%
  7. Stanley Ave Realty Var 6.0728% 9/15/44 4.55%
  8. Shiv Shakti Invstmts Bkdebt 5.25 12/15/24 4.43%
  9. Marcus & Tracey Chu Var. 6.586% 3/10/40 4.08%
  10. 413 E. 53rd St. Llc Bkdebt5.6805% 2/1/44 3.87%

Asset Allocation

Weighting Return Low Return High XPNNX % Rank
Bonds
92.39% 44.30% 145.92% 54.55%
Cash
7.22% -45.93% 39.11% 31.58%
Other
0.39% -4.39% 10.44% 39.47%
Stocks
0.00% -14.93% 5.52% 79.55%
Preferred Stocks
0.00% 0.00% 18.91% 50.00%
Convertible Bonds
0.00% 0.00% 7.48% 55.26%

Bond Sector Breakdown

Weighting Return Low Return High XPNNX % Rank
Corporate
92.75% 53.88% 100.00% 60.53%
Cash & Equivalents
7.25% 0.00% 38.95% 31.58%
Derivative
0.00% 0.00% 0.01% 42.11%
Securitized
0.00% 0.00% 30.10% 63.16%
Municipal
0.00% 0.00% 0.26% 47.37%
Government
0.00% 0.00% 3.28% 50.00%

Bond Geographic Breakdown

Weighting Return Low Return High XPNNX % Rank
US
92.39% 0.00% 139.44% 18.42%
Non US
0.00% 0.00% 74.96% 97.37%

Expenses

XPNNX - Expenses

Operational Fees

XPNNX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio N/A 0.73% 10.93% N/A
Management Fee 1.50% 0.00% 1.73% 93.62%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.08% 0.25% N/A

Sales Fees

XPNNX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 1.00% 1.00% 5.75% 90.00%
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

XPNNX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 2.00% 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.

XPNNX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 11.70% 122.00% N/A

Distributions

XPNNX - Distributions

Dividend Yield Analysis

XPNNX Category Low Category High XPNNX % Rank
Dividend Yield 0.00% 0.00% 2.00% 61.22%

Dividend Distribution Analysis

XPNNX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Quarterly Monthly Monthly

Net Income Ratio Analysis

XPNNX Category Low Category High XPNNX % Rank
Net Income Ratio N/A 3.42% 9.15% N/A

Capital Gain Distribution Analysis

XPNNX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Dividend Payout History

View More +

Fund Manager Analysis

XPNNX - Fund Manager Analysis

Managers

Jordan Blanchard


Start Date

Tenure

Tenure Rank

Dec 16, 2013

6.54

6.5%

Robert Judge


Start Date

Tenure

Tenure Rank

Dec 16, 2013

6.54

6.5%

Joe Gladue


Start Date

Tenure

Tenure Rank

May 01, 2019

1.17

1.2%

Joe Gladue is the Chief Financial Officer and a Portfolio Manager of Bluestone Capital Partners. Mr. Gladue has also served as the Director of Research for MCG Securities, LLC, a broker-dealer, since 2015 and the Director of Research for J. Alden Associates, Inc., broker-dealer, since 2018. Mr. Gladue served as Vice President Corporate Development for BofI Federal Bank from 2014 to 2015. He also served as an Analyst for B. Riley & Co., LLC from 2007 to 2012 and Cohen & Company Securities, LLC from 2003 to 2007. Mr. Gladue earned a M.S. in Finance at Loyola University in Maryland and a B.A. in Economics at the University of Notre Dame. Mr. Gladue has also earned the Chartered Financial Analyst (CFA) and the Professional Risk Manager (PRM) designations.

Lee Calfo


Start Date

Tenure

Tenure Rank

May 01, 2019

1.17

1.2%

Lee Calfo co-founded and has served as a principal of Bluestone since 2010. Prior to his time with Bluestone, Mr. Calfo serviced as Chief Investment Officer of Green Mountain Capital, L.P., and a portfolio manager for 1914 Advisors. Prior to that, he was with Cohen & Company where he served as Chief Investment Officer and portfolio manager of the firm's equity hedge fund and prior to that served as director of research. In addition, he helped develop and oversee the firms' bank & trust preferred collateral management program and served on its credit committee. Previously he worked at Miller & Jacobs Capital in the capacity of equity research analyst form the financial services-focused Acadia Research Group and Acadia Hedge Fund divisions. Prior to that he was senior analyst with Emerald Asset Management. Mr. Calfo has a B.S. in Finance from Penn State University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.33 25.19 5.93 0.41