My top (>2.5%) positions in no particular order: GLW, MGDDY, JPM, MSFT, DRAGF, CYOU. In: CYOU - price increase; Out: PWRD - reduced position
Fixed income: ~15%
Cash: ~18%
New positions: CENJF, AFSI-A, EVK.DE
Positions increased: CAM.L, AAUKY, JOY, JPM
Positions reduced: PWRD, AMNF, GAME, WU
Positions eliminated: SHOS, MHR, MAUXF
Flip-flop: NOK, CF
2 month update - I was traveling for a part of July. Although I had WiFi in most hotels and looked at positions once in a while, my new "longer term, more Buffetty" portfolio added some perception that I don't have to monitor it all the time. It's good I did not travel during last week - see GAME/etc. below ;)))
Fixed income: bought some AFSI-A for somewhat attractive yield.
Energy companies: Sold MHR after it cleaned up the auditor change mess. Not much gain, just recovering the pref losses during the same time period. Sold MAUXF - at a - substantially reduced - gain due to uncertainty with situation in Nigeria. Bought some CENJF that seemed cheapish.
Chinese MMO companies: stocks finally ran up and then... GAME decided to purchase part of its parent's business for possibly inflated price - dropped 20%. CYOU reported so so numbers - dropped 20%. What will PWRD bring? In any case, I decided to lighten and sold a bunch of PWRD and GAME. Holding CYOU and remainders of PWRD/GAME positions. May sell more depending on prices and other factors. Even with drops, pretty good gains for the year.
Valuation sales and reductions: SHOS, AMNF, WU. WU reported somewhat-OK results, but price is beginning to discount optimistic management story. I am not so sure it can be fully trusted. SHOS results were so so - sold. AMNF continues to go up. Reduced position a bit.
Flip flops: NOK - some good products, but very competitive landscape. No clue how things will end. Bought some, sold some.
CF - Bought more on valuation. Then stock ran up on Dan Loeb position announcement. But fertilizer stocks got hacked by Uralkali move. So I sold some CF just to reduce exposure. It might make sense to sell more CF and MOS, but I will probably hold.
Purchases: Stock prices overall are highish. So I am adding to few things that are still somewhat cheapish. Spekulatius's EVK.DE and CAM.L. AAUKY, JOY and JPM. It might make sense to start keeping cash instead. I can't say that anything is a screaming buy right now. |
