X,
Thanks for the information.
Portfolio update:
The GSPN holding is added, since we know with certainty that iCompression is being acquired by them.
The CNSW cost basis is changed to .79 cents per share in accord with the S-1 filing by CNSW.
In case anyone who cares to but doesn't have it, here is the link to the port again:
siliconinvestor.com
Two assumptions are made re iCompression: 1) $15 million initial investment, and 2) LDP owns 5% of company
This is likely conservative in two aspects 1) the initial investment might be lower thereby reducing the cost basis, and 2) the percent ownership might be too low thereby underestimating the shares of GSPN LDP received.
ICompression is being purchased for 4 million shares of GSPN. 4,000,000 x 5% = 200,000 shares received.
$15,000,000/ 200,000 = cost basis of $75.
I have no clue whether LDP will sell the GSPN VTSS or DCLK shares, but they are more likely to sell when they do not have as close a relationship to management, and specific rights regarding board meetings etc., as they do in other investments.
A caveat with this portfolio is that LDP may sell without stating it publicly. One other caveat is that the information is from filings with the SEC and from FBR. To my knowledge, the company has not itself published a list. IMO, FBR has been pretty accurate regarding the holdings, and the research done by them is up to date. I believe they are in fairly close communication with the company. However, there are two differences, DCLK and RAMP. I have a lower number of shares of each.
One mistake LDP has somewhat openly admitted making is that they previously sold investments that they should have held for a much longer term. I think it unlikely any of the positions have changed. The company has no need to generate cash, and they mark to market so there is no pressure to sell periodically to realize quarter to quarter profits.
One more thing that most of you know. Some capital gains in the portfolio are not taxable, some are. The holdings are not categorized in that manner. Consequently, it is not accurate to discount all gains shown in the portfolio for taxes, and even if the portfolio were divided it would be difficult to know what might be available to offset the gains in any specific quarter and at what rate the gains, if any, would be taxed. Everyone can discount it, or project gains, in any manner they deem proper.
I sometimes follow the thread day to day, sometimes I do not due to other obligations. If anyone has information regarding changes please share it with the thread, and I will update the portfolio.
BTW....EXTN, GSPN, NUFO, PKTR, RAMP and SABA all expected to be added to the Russell 3000. Perhaps some of these will be added to other Russell indices. The final indices will be available mid-July.
russell.com |
