My top 10-ish positions in no particular order: NRF-A/B, UVIC, IDCC, EBIX, GFRE, GILD, UFPT, MHR-C, NXY, COPJF, DRAGF. Changes in top-10: UFPT, MHR-C, NXY - in due to adds.
New positions: DELL, AFL
Positions increased: FRFHF, PWRD, GLW, NXY, EGY, MSFT, UFPT, CYOU, GFRE, SDTH, FSR, CGPI, MHR-C
Positions reduced: GPOR, NE, UEPS
Positions eliminated: GRMN, HRBN, XCO
Fortunately or not, the market waited for big action until I returned from my vacation. On macro side unrest in Middle East and North Africa plus earthquake and nuclear meltdown in Japan are dominating the market. On smaller side, Chinese small caps are having tough season persuading auditors that they are legit.
Not much action on fixed income side, except for MHR-C add close to par. Unfortunately, MHR-C is probably a gonner come December call date.
Increased positions in cheap (or believed to be cheap - SDTH :/ ) companies.
DELL seems to be attractive here, so I established a small position. Same for AFL.
Yet another sale in GPOR. I am almost out of the stock even with its good earnings this year. Shoulda held more for higher gains, but one never knows.
NE is not really overpriced, but I sold a bit to raise cash.
UEPS has horrible results, but even with these results it's pretty cheap here. Again sale to raise cash.
XCO - sale to raise cash as it's not clear if there's much upside from possible buyout.
HRBN - sale before report to avoid bad headline news. Shoulda done this with other Chinese small caps too. :)
GRMN - gave up on the company even though it's still pretty profitable and cheap. |
