My top 10-ish positions in no particular order: IGK/ISF/IDG, NRF-A/B, UVIC, EBIX, GPOR, FR-J/K, AEH, COPJF, GILD, RINO, UEPS. CSGH fell out due to price decline.
New positions: WUHN, GOOG, NCTY
Positions increased: MSFT, GRVY, FR-J/K, UVIC, SDTH, IACAF
Positions reduced: PKX
Positions eliminated: CF, OSG
More action recently.
New positions widely diverge in style: Buffettology GOOG vs pure cash-net-net NCTY and cheap on P/B and P/S WUHN. :) All are small initial positions. NCTY is similar situation to GRVY except that it is losing cash, but then it is trading at almost 1/2 net cash. WUHN results are not that good and stock is thinly traded, but the company is very cheap if they can perform.
Position increases are pretty much boring adds at better prices. FR-J/K was discussed here extensively.
I decided to sell some PKX, since I am not sure about its valuation and business climate going forward. It's not expensive, but not cheap either. CF is another position where I am not sure where the business is going and how their acquisition integration proceeds. OSG is more of the same - not clear prospects although low valuation. |
