Below are my trades done for the period 7/28/2014 through 9/5/2014
My most compelling "Value" find this month is Security National Financial Corp. (NasdaqGM: SNFCA) - only 0.62x BV, a family owned company. They own a hidden asset in 5 wholly owned cemeteries carried at cost not market and a 5% stock dividend is paid each year too.
Buys
Anglo American plc (OTC Markets: AAUKY) - Upped position by 11%; 22% undervalued by Graham Number valuation. CEO announced that company will entertain all serious offers for all or part of the company.
American Realty Capital Properties, Inc. (NasdaqGS: ARCP) - Followed Grommit & Paul w/ small position into this diversified REIT yielding 7.5%
Art's-Way Manufacturing Co. Inc. (NasdaqCM: ARTW)- started small position 1.16x BV exciting new service division Art's Way Scientific providing mobile/modular Calf & Hog vivarium on-site solutions.
Aurcana Corporation (OTC Markets: AUNFF)- upped current position after 31 day sale for this Jr. Silver miner.
Campus Crest Communities, Inc. (NYSE: CCG) - Upped position by 100% ; new VP of property acquisition hired & huge insider buy in this specialized REIT.
Enzymotec Ltd. (NasdaqGS: ENZY)- upped position by 100% w/ low cost shares will sell high priced shares in 31 days
FX Energy, 9.25% Series B Cumulative Convertible Preferred (NasdaqGS: FXENP)- started new convertible preferred for Polish NG E&O driller
Liberator Medical Holdings, Inc. (NYSE MKT: LBMH)- Upped position by 100%; 4% dividend, PE=growth rate, little LT debt
Miller Energy Resources, 10.5% Series D Fixed/Float Cumul(NYSE: MILL-PD) - started small position in this preferred issue
Phibro Animal Health Corporation (NasdaqGM: PAHC)- upped position by 100%; on target w/ forward PE at 13.46. Good undervalued AG play.
SeaDrill Limited (NYSE: SDRL)- upped position by 50%; sector under performing w/ PE at 10x; 11% dividend stable through 2016
Security National Financial Corp. (NasdaqGM: SNFCA) - only 0.62x BV, family owned company. Hidden asset in 5 wholly owned cemeteries, 5% stock dividend paid each year too.
CVR Partners, LP (NYSE: UAN) - Upped current position by 15% w/ low cost shares
World Point Terminals, LP (NYSE: WPT)- upped current holding by 10% w/ low cost shares
Veresen Inc. (OTC Markets: FCGYF) - added shares to current holdings of this Canadian pipeline company
Ladenburg Thalmann Financial Services, 8.00% Series A (NYSE MKT: LTS-PA) - started small position w/ monthly dividend payments
Neptune Technologies & Bioressources, Inc. (NasdaqCM: NEPT)- upped current position w/ low cost shares
Deep Sea Supply Plc (OTC Markets: DSSPF) - another small add of this Fredriksen company
Sells
Acasti Pharma Inc. (NasdaqCM: ACST) - Sold high cost shares for small loss, may buy back in 31 days.
Achaogen, Inc. (NasdaqGM: AKAO) - closed out position for loss may buy back in 31 days.
Armanino Foods of Distinction Inc. (OTC Markets: AMNF) sold high cost shares booked 15% ST gain
Ainsworth Lumber Co. Ltd. (OTC Markets: ANSBF)- sold 50% of position for small LT loss
Anavex Life Sciences Corp. (OTC Markets: AVXL)- sold 50% to book a st loss will buy back in 31 days to lower avg cost
Bolt Technology Corp. (NasdaqGS: BOLT) - Teledyne will acquire all of the outstanding common shares of Bolt for $22.00 per share payable in cash. - Closed out position 30.5% st gain
Campus Crest Communities, Inc. (NYSE: CCG-PA) - sold high cost shares 2.32% st gain
Crestwood Midstream Partners LP (NYSE: CMLP) - sold high cost shares 2.38% st gain
Physicians Realty Trust (NYSE: DOC) - closed out high priced shares booked 7.27% st gain
Marlin Midstream Partners, LP (NasdaqGM: FISH) - sold high priced shares for 5.25% gain
Golar LNG Ltd. (NasdaqGS: GLNG) closed out position for 71% lt gain
Industrial Services of America, Inc. (NasdaqCM: IDSA)- closed out position for 313% st gain
Louisiana-Pacific Corp. (NYSE: LPX) closed out position for small st loss
Magnum Hunter Resources Corpora (NYSE MKT: MHR-PD) - sold some high cost shares booked 2% gain
OCI Resources LP (NYSE: OCIR)sold high priced shares for 32% gain
Swift Energy Co. (NYSE: SFY) - Closed out position for 21%, 5.53% & 1.47% ST gain(s)
TETRA Technologies, Inc. (NYSE: TTI) closed out position for 1.5% st gain
Vodafone Group Public Limited Company (NasdaqGS: VOD)closed out position for small loss will buy back in 31 days
Waste Management, Inc. (NYSE: WM)- closed out position for 48% gain
Williams Partners L.P. (NYSE: WPZ)- closed out position for 8.6% LT gain and 5.18% st gain
EXCO Resources Inc. (NYSE: XCO) closed out position for 3% st gain
Algonquin Power & Utilities Corp. (OTC Markets: AQUNF) - closed out position booked 22.61% LT gain
Samson Oil & Gas Limited (NYSE MKT: SSN) Sold high priced shares for small st loss will buy back in 31 days
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The strategy over this period was to harvest losses and to raise cash from many of my marginal winners. I also closed out a few long term holds (WM, GLNG, IDSA etc) for much larger gains. 65% of the value of my taxable portfolio represent long term gains that I keep inside the portfolio. I let the gains continue to grow adding higher priced shares along the way. When I do sell, I generally start with my high cost shares and then work down to the lowest cost shares if/when I close out a position.
I am still only at a 5% cash position but do hold another 10% in preferreds that I can use as a source of funds.
My top holdings by market value in the taxable portfolio are:
Chevron Corporation (NYSE: CVX) at 7.23%
ConocoPhillips (NYSE: COP) at 6.12%
BHP Billiton Limited (NYSE: BHP) at 4.62%
El Paso Pipeline Partners, L.P. (NYSE: EPB) at 3.82%
Anglo American plc (OTC Markets: AAUKY) at 3.54%
Marlin Midstream Partners, LP (NasdaqGM: FISH) at 2.97%
Exxon Mobil Corporation (NYSE: XOM) at 2.75%
Kinder Morgan, Inc. (NYSE: KMI) at 2.72%
Crestwood Midstream Partners LP (NYSE: CMLP) at 2.71%
Phillips 66 (NYSE: PSX) at 2.42%
EKS |
