Canadian Banc Corp T.BK

Good day in NYC

[EdPaquette]

SPY is up half a percent, and the BIGB is up a full percent. This helps the nav of FTN and BK.

[Islesfan]

How so?

[EdPaquette]

BK owns a small number of US bank shares.  Also Canadian banks should now rise in sympathy with US banks. 

[es25]

I thought they own the top 6 banks in Canada?

[EdPaquette]

From the fund documents. Royal Bank of Canada 15.3% Toronto-Dominion Bank 14.4% National Bank of Canada 11.6% Bank of Montreal 10.2% Canadian Imperial Bank of Commerce 8.1% Bank of Nova Scotia 7.5% Bank of America 5.5% Goldman Sachs Group Inc. 3.9% Morgan Stanley 2.8% J.P. Morgan Chase & Co. 2.8% Citigroup Inc. 2.3% Total long positions as a percentage of net assets 84.4