Freedland Healthcare

Managed by Sparrow Capital Management

3.0% Last 30 days 4.0% Last 90 days 37.1% Last 365 days 3.17 Sharpe Ratio -3.7% Max Drawdown

Freedland Healthcare

Managed by Sparrow Capital Management

3.0% Last 30 days 4.0% Last 90 days 37.1% Last 365 days 3.17 Sharpe Ratio -3.72 Max Drawdown
Risk score
Strategy Stocks
AUM fee 1.0%
Requirements
• Investment minimum: $20,000
• Margin account
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The Freedland Healthcare portfolio invests in healthcare-related stocks. It attemps to identify companies with reasonable valuations and good prospects for growth including ones that offer possible dividends to stockholders. These companies will range from drug, device, retail sales, electronic medical record, prescription services, and HMO/hospital companies. While emphasizing mid cap stocks, large cap and smaller capitalization companies may be included as well as emerging medical treatments/technologies.Companies selected for this portfolio are closely monitored. Stocks are typically acquired slowly. Freedland attempts to limit losses by selling losing positions quickly. In the same way, he will attempt to preserve capital by moving towards a cash position during weak market environments and towards equities during periods of market strength. The market environment will be assessed by observing the price behavior of the individual holdings within the portfolio itself.

Research

Using publicly available sources including Yahoo Finance, Morningstar.com, and Google Finance, this portfolio will try to identify companies with longer-term records of growing revenue, earnings, and free cash flow. Consideration will be given to companies demonstrating improving fundamentals as well as reasonable valuation in terms of commonly available ratios including price/earnings, PEG, and price/sales ratios. Dividend payments will also be considered in a favorable light for investment decisions.

Allocation discipline

A maximum of twenty holdings. These holdings will be of equal weight and represent 50% of the cash available for investing. Subsequent purchases on buy signals. An attempt will be made to provide a diverse group of holdings across the healthcare field. Portions of appreciating stocks will be sold and these sales will be used as "buy signals” until 20 positions reached. This portfolio will hold at least a minimum of 5 positions.

Sell discipline

Positions are closed out only if they decline to preset levels as determined after an initial purchase or after gains in which case sale points are increased to trail the appreciation targets by pre-determined amounts. With each closure of a position on a sale after a decline, this is viewed as a negative signal resulting in a shift to cash unless at minimum portfolio size of 5 positions in which case holding is replaced.

All performance information on this page is based on the performance of the Portfolio Manager’s account. Client performance may differ. This information was calculated on December 13, 2017.

Daily returns
Performance
S&P 500 Health Care ETF
S&P 500
Manager (net of fees )
Last 30 days 3.0% 3.0% 3.3%
Last 90 days 4.0% 6.7% 1.0%
Last 365 Days 37.1% 17.2% 20.4%
Since inception (Annualized) 16.0% 12.2% 15.1%
2017 (YTD) 37.6% 18.9% 21.8%
2016 3.1% 9.5% -4.3%
2015 -3.9% -0.7% 5.3%
2014 23.4% 11.4% 23.3%
2013 49.8% 29.6% 39.0%
2012 18.8% 13.4% 15.0%
2011 -7.8% -0.0% 10.1%
Risk metrics (last 365 days)
S&P 500 Health Care ETF
S&P 500
Manager (net of fees )
Volatility 11.3% 6.7% 8.8%
Sharpe Ratio 3.17 2.37 2.18
Sortino Ratio 5.25 3.14 3.67
Maximum Drawdown -3.7% -2.8% -4.1%
Value-at-risk (95%, 1 week) -2.6% -1.6% -2.0%
Additional metrics (last 365 days)
vs.S&P 500 Health Care ETF
vs. S&P 500
Information Ratio 2.2% 2.1%
Alpha 15.86 14.45
Beta 1.01 0.94
R-Squared 0.4% 0.5%
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About Sparrow Capital Management

Sparrow Capital Management is a registered investment adviser based in Missouri. Gerry Sparrow, an investment professional with more than 20 years of investment management experience, is our President and Founder. He selects stock investments using a proprietary matrix of fundamental, quantitative and technical factors.

Important Information

  1. Past performance is no guarantee of future results, and all investments, including those in this portfolio, involve the risk of loss, including loss of principal and a reduction in earnings.  
  2. All performance information on this page is based on the performance of the Portfolio Manager’s account, using the manager’s own funds. Portfolio Manager’s pre-IB Asset Management performance information may include performance of non-IB Asset Management client accounts. Performance of the Portfolio Manager's account is calculated by IB Asset Management on a daily time-weighted basis, including cash, dividends and earnings distributions and reflects the deduction of broker commissions. Manager returns include trades and positions that fail IB Asset Management's trading rules, as a result, actual client returns will differ. IB Asset Management advisory fees are simulated and applied retroactively to present the portfolio return "net-of-fees".
  3. None of the performance information displayed on this page is based on the actual performance of any IB Asset Management client account investing in this portfolio. The performance in an IB Asset Management client account invested in this portfolio may differ (i.e., be lower or higher) from the Portfolio Manager’s account performance based on any trading restrictions imposed by the client (resulting in different account holdings), time of initial investment, amount of investment, frequency and size of cash flows in and out of the client account, applicable brokerage commissions, and different corporate actions. Clients investing in this portfolio may view the actual performance of their investment in this portfolio by logging into their IB Asset Management account and reviewing their customized dashboard.
  4. 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 IB Asset Management, based on the characteristics of the underlying portfolio. It should not be considered as specific investment advice for your investment situation.
  5. The performance charts are provided for informational purposes only, and should not be used as the basis for making an investment decision. We rely on mathematical formulas, computer programs, and pricing information from third-party vendors to provide these returns. Neither IB Asset Management 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.
  6. Benchmark returns displayed have been calculated by IB Asset Management using daily benchmark prices and do not include dividend income. More information here. For certain portfolios IB Asset Management uses an index as a benchmark, while for others it uses an investable exchange traded fund (ETF) as a benchmark. Index returns do not reflect the deduction of any management fees, transaction costs or expenses. Individuals cannot invest directly in an index. Investable ETF returns reflect the deduction of (i.e., are net of) management fees, transaction costs and expenses.
  7. All Portfolio Manager information including personal data, profiles, strategies, monthly investment reports, and historical results outside of IB Asset Management has been provided by the Portfolio Manager. IB Asset Management makes no representation or warranty of its accuracy, completeness or relevance and it does not represent the opinions of IB Asset Management. Transaction history of Portfolio Managers is available upon request. Portfolio classifications are provided by IB Asset Management, and are intended to serve as a general guide.
  8. Not all transactions listed will appear in accounts due to IB Asset Management's trading rules and individual client constraints. Eligibility of these securities is monitored periodically, and may change over time. Actual client investment holdings may vary.
  9. This portfolio was launched on IB Asset Management on October 06, 2010.
  10. The Portfolio Manager could use short selling to manage this portfolio. Short selling is more complex than simply owning securities, involves a high degree of risk, is highly speculative, and is not suitable for all investors. The risk of loss associated with short selling is virtually unlimited. Short selling may also involve additional expenses and risks, including hard-to-borrow stock charges and buy-in risk. You should only select a portfolio using short selling if you are comfortable with the level of risk involved in short selling.
  11. The Portfolio Manager could use borrowed funds or leverage to fund investments in this portfolio. Leverage indicates the level of margin utilized and is calculated by dividing gross exposure by portfolio net liquidation value. Leverage involves a high degree of risk, is highly speculative, and is not suitable for all investors. Leverage increases both the amount you may lose and the amount you may make in a portfolio, leading to higher returns in the case of favorable market movements but also larger losses under adverse market conditions. You may also incur additional expenses associated with borrowing funds. You should only select a portfolio using leverage if you are comfortable with the level of risk involved in using leverage.