Unit Trusts


Incapital Morningstar Wide Moat Portfolio, 3Q 2014

Portfolio Holdings

Berkshire Hathaway Inc. BRK/BFinancials3.89 %
International Business Machines Corporation (IBM)IBMInformation Technology3.88 %
Exxon Mobil CorporationXOMEnergy3.88 %
Exelon CorporationEXCUtilities3.87 %
HCP INCHCPFinancials3.87 %
Philip Morris International Inc.PMConsumer Staples3.87 %
Express Scripts Holding Company ESRXHealth Care3.87 %
Baxter International Inc.BAXHealth Care3.86 %
Wal-Mart Stores, Inc.WMTConsumer Staples3.85 %
Spectra Energy Partners LPSEPEnergy3.85 %
SYSCO CORPSYYConsumer Staples3.85 %
The Clorox CompanyCLXConsumer Staples3.84 %
The Procter & Gamble CompanyPGConsumer Staples3.84 %
The Western Union CompanyWUInformation Technology3.83 %
Sanofi SNYHealth Care3.83 %
Schlumberger Limited SLBEnergy3.83 %
NTT DOCOMO INC-SPON ADRDCMTelecommunication Services3.82 %
Amazon.com, Inc. AMZNConsumer Discretionary3.82 %
Core Laboratories N.V.CLBEnergy3.81 %
EBAY INCEBAYInformation Technology3.81 %
Rayonier Advanced MaterialsRYAMMaterials3.79 %

Data used for the Portfolio Holdings and Portfolio Allocation Characteristics is from Bloomberg Finance L.P. Portfolio holdings are provided for informational purposes only and should not be deemed as a recommendation to buy or sell individual securities. Portfolio Holdings and Portfolio Allocation Characteristics are as of deposit day and are subject to change and may vary thereafter.

The style and capitalization characteristics are designed to help investors understand how they fit into an overall investment plan. Value, blend and growth are types of investment styles. Growth Investing generally seeks stocks that offer the potential for greater-than-average earnings growth, and may entail greater risk than value or blend investing. Value investing generally seeks stocks that may be sound investments but are temporarily out of favor in the marketplace, and may entail less risk than growth investing. A blend investment combines the two styles. Market capitalization is determined by the following criteria: Large Cap: Greater than $10 billion, Mid Cap: $2 billion-$10 billion, Small Cap: $250 million-$2 billion Micro Cap: Below $250 million.

This material is not intended to be a recommendation or investment advice, does not constitute a solicitation to buy or sell securities, and is not provided in a fiduciary capacity. The information provided does not take into account the specific objectives or circumstances of any particular investor, or suggest any specific course of action. Investment decisions should be made based on an investor’s objectives and circumstances and in consultation with his or her advisors.

Risk Considerations:
There is no assurance that a unit investment trust will achieve its investment objective. An investment in this unit investment trust is subject to market risk, which is the possibility that the market values of securities owned by the trust will decline and that the value of trust units may therefore be less than what you paid for them. This trust is unmanaged. You can lose money investing in this trust.

Common stocks do not assure dividend payments. Dividends are paid only when declared by an issuer's board of directors and the amount of any dividend may vary over time.

A portfolio concentrated in a single market sector may present more risk than a portfolio broadly diversified over several sectors.

This trust is concentrated in the energy sector. There are certain risks specific to the energy sector, including the potential adverse effect of state and federal regulation and increasing costs of natural resources.

Stocks of small companies are often more volatile than those of larger companies as a result of several factors such as limited trading volumes, products or financial resources, management inexperience and less publicly available information.

Investing in foreign securities involves certain risks not typically associated with investing solely in the United States. This may magnify volatility due to changes in foreign exchange rates, the political and economic uncertainties in foreign countries, U.S. or foreign tax treatment, and the potential lack of liquidity, government supervision and regulation.

Many factors can have an impact on the performance of REITs and real estate companies, including cash available for distribution, the credit quality of a particular REIT, or the real estate industry in general. Risks associated with ownership of real estate include global and local economic conditions, decline in real estate values, changes in interest rates, and the strength or weakness of the real estate market.

Most MLPs operate in the energy, natural resources, or real estate sectors and are subject to the risks generally applicable to those sectors, including commodity price risk, supply and demand risk, depletion risk and exploration risk. MLPs are also subject to the risk that U.S. taxing authorities could challenge the tax treatment of MLPs for federal income tax purposes, which could have a negative impact on the after-tax income available for distribution by the MLPs.

Although this trust’s life is approximately 15 months, this strategy should be considered as part of a long-term investment strategy and investors should consider their ability to pursue investing in successive portfolios at the applicable sales charge, if available. There may be tax consequences associated with an investment from one series to the next unless units are purchased in an IRA or other qualified tax-deferred account. Investors should consult their tax advisor or attorney to determine tax consequences associated with an investment from one portfolio to the next.


Incapital Unit Trust, Series 51, is a unit investment trust that consists of the Incapital Morningstar Wide Moat Portfolio, 3Q 2014. Incapital LLC serves as the Sponsor to the Trust.

Morningstar Investment Services, Inc. is a registered investment advisor and wholly owned subsidiary of Morningstar, Inc. The Morningstar name and logo are registered marks of Morningstar, Inc. Incapital LLC and Morningstar Investment Services, Inc. are unaffiliated. Morningstar Investment Services, Inc. provides the trust with portfolio consulting services.

Trust Summary

Trust NameIncapital Morningstar Wide Moat Portfolio, 3Q 2014
Series Name3Q 2014
Trust SymbolWMP3Q14
Nasdaq SymbolINWMIX
Trust StatusTerminated
Initial Offer Date07/10/2014
Termination Date10/09/2015
First Income Record Date12/10/2014
Distibution FrequencySemi-annually
Tax StructureRIC
Liquidation Price1$9.0693
Cash CUSIP45329L102
Reinvest CUSIP45329L110
Fee Cash CUSIP45329L128
Fee Reinvest CUSIP45329L136

1. Represents the value per unit that a unitholder would receive if the unitholder redeemed or sold units. This price is equal to the net asset value per unit plus any remaining organization costs and creation & development fee. This price reflects any remaining non-contingent deferred sales charges payable in connection with a liquidation of units.

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