Volume I, Issue XIII "SCIFI" & "SONYX"

THE [SCIFI] Fund

Over the past 30 days the Science Fiction Fund has grown from H$19.92 to H$21.94 (H$2.02, 10.14%, 0.34% dROI). The fund holds a large number of securities for its size (52), with the vast majority of them being Movie Stocks in the 'Development' phase. The fund has Positions on two Movie Stocks in Release, as well as significant investment in [JP3D]. The fund manager has allocated more than 25% of the fund into the Movie Stock and its associated derivatives and the fund's short term outlook will largely depend on how well that movie performs over the coming weeks. The fund's heavy investment in Small-Cap securities is unsurprising given the amount of capital the fund has to work with, and I think the avoidance of any Large-Cap securities at this point is a wise choice. I would expect the fund to move it's assets from [JP3D] into the Large-Cap [OBLVN] after the weekend ,or at some point before April 19th. The fund's holding are shown below. (Not shown are the Derivatives, which account for H$1.7m in holdings) 

Note: The Development, Production, Wrap and Release percentages are representative not of the share of the total fund, but of the share of funds invested in Movie Stocks.

The Fund is 90.3% invested not counting cash tied up in shorted shares. Most of the fund's assests are tied up in the top ten positions; they account for 71.3% of the fund's value. The top 10 investments consist of 4 Star Bonds, 5 Movie Stocks, and 1 Derivative. As mentioned previously, the heavy investment in [JP3D] is a gamble, but looking at BTC and MTC and RS projections for this weekend, the stock seem likely to appreciate in value. I like the choice to continue to hold the [HOST1] shares short, as the Movie Stock has little chance of appreciating much in value. I'm less certain about the decision to hold [SW23D] 'Short' at this point in thime. The film in 6 months away from release, and is priced relatively cheap (H$17.44), I wonder if the film really has a chance to open at less than 6.5 million over it's opening weekend, and worry that this stock might start to grow in value as the film approaches. **EDIT: After revewing the stock's tagged news here, it appears this film will not be released this fall after all. Holding this secuirty short now makes much more sense. Thanks srrichardson** A quick survey of the Star Bonds being held shows health dROI's for all of them. The top ten holdings are detailed below...

If the fund continues to grow at 0.34% dROI, it would delist on 6/16/14. I expect, however, with the large number of high-profile Science Fiction movie being release this year, the fund to achieve at least at 0.50% dROI, which would delist the fund on 1/26/14. A 1.0% dROI would delist the fund on 8/30/13. I would expect the fund to delist sometime in the 4th quarter of this year.

The [SONYX] Fund

The Sony Studio Fund has fallen from H$34.48 to H$34.40 (-H$0.08, -0.23%, -.01%dROI) over the last 30 days. The Fund grew pretty well over the first two weeks of the peroid, but struggle in the middle of March, losing the ground it had made. The fund holds a significant (more than 1,000 shares) stake in an extremely large amount of securiteis (99), with the vast majority being films in the 'Development' phase (77). Most of the fund, in terms of positions and shares, is invested in Small-Cap securities, with The fund seems to be shorting a lot of the 'Development' projects it is invested in, with 9 of the Top ten investments being held Short. The exception, [EVILD], is being held Long. This strategy is a two-edged sword, as missing news on one of the Movie Stocks being held can result in quick losses, but over time, the 'bleeding out' of these projects will provide substantial profits. One concern is that the fund has 98% of it's cash invested, but only owns 40k shares of [EVILD], and hasn't taken a position on the .OW derivative yet.I wonder what investments the fund will choose to abandon to take advantage of the money making opprotunities this weekend. The fund's holding are detailed below...





Note: The Development, Production, Wrap and Release percentages are representative not of the share of the total fund, but of the share of funds invested in Movie Stocks.





The fund is currently 98% invested, and 41.5% of that is represented in the fund's ten most expensive investments. The investment represent and interesting range of securities. Movie Stocks such as [GBUMP] and [EQLIZ] have had news recently, and I wonder if some of the fund's trouble over the middle of march related to the huge jumps in these securities. Most of the other securities seem like projects that the HSX community may be over-valuing considering the lack of news regarding them. Only 1 picture other than [EVILD] has a release date, [ABLNT], but it is eleven months away. The fund's top 10 holdings are detailed below...

While the past couple of week have been rocky for [SONYX], overall the fund has performed very well since IPO, maintaining a 1.23%dROI. If the fund were to maintain this pace, it's delist price would be H$266.73! While that seems like a really, really optimistic outlook, here are a couple of other options. a 1.00% dROI would delist at H$183.59, and a 0.75%dROI would delist at H$121.37. My hope is that the fund ends up over H$100, which would require greater than 0.63% dROI.