My top 10-ish positions in no particular order: UVIC, MHR-C/D, GST-A, GLW, EGY, ARY, DRAGF, MSFT. Changes in top-10: GILD - sold
New positions:
Positions increased: ADVC, CTEL, GRVY, MGDDY, MSFT, GLW, GAME, PWRD, PERI, AGXKF, PMGLF
Positions reduced: IDCC, MHR
Positions eliminated: TSRA, GILD
Flip-flop:
Nothing happening in fixed income area, although this is probably one of the best performing parts of the portfolio. As long as divvies roll in and the prefs don't tank that is. :)
My sales (and some of the buys) were not well timed. Both TSRA and GILD were sold at lowish prices. I decided that spending $10B is not what I bought GILD for and sold my position. TSRA was a low conviction position in the IP area. I missed the big contract renewal though. Another play in IP area - IDCC - still has not sold itself and is living in no-man's land between cheap earnings-based price and rich buyout-based price. It's basically a hold, but it's not clear what the goal of the hold is. :)
I lightened a bit on MHR. Another position with not much conviction.
Not much interesting on the buy side. Increasing positions in cheap and cheaper stocks. Bad news get punished, while good news are mostly ignored. Suits me fine for now. :) |
