My top (>2%) positions in no particular order: FRFHF, JPM, LMCA, MHNC, SPND, BKLN, MKL, DRAGF, BRKB.
In:
Out: MGDDY, WDC, CF, GLW, AXS, RE - sold
Fixed income: ~16%
Cash: ~28%
Sectors (kinda):
Insurance (including BRKB and FRFHF): 20%, Malone/media: 10%, Banks: 6%, Cars and parts: 1%, Oil 9%, Agri 1%, Tech 3%
New positions: GDWN.L, KRSL, SFY bonds, BFCF, BBX, ISIG, DNR, PWE
Positions increased: GTE, TESB.BE, BRKB, FRFHF
Positions reduced: PGN, BKLN, MSFT
Positions eliminated: STX, MDT, DVDCY, HYH, ANTM, CF, DNB, DE, AXS, EBAY, GLW, MGDDY, RGA, SMTUF, WDC, WU, TPCA, RGA, OVLY, GS, FMBL, 7399:JP, RE, BBBY
Flip-flop: TLM
Note that some trades were made before my decision to cut active investing.
My current plan is to put most of the money into FRFHF. Since I can't stand concentrated portfolio, there will be "forever" positions in some other stocks, probably BRKB, perhaps some Malone stocks. This is work in progress.
I will keep oil stock positions and may even buy more if oil continues to drop. I believe that some of these positions may double or more in the future. Some may go to zero though.
Going to my buys/sells:
Oil: sold some PGN since it may face default and bankruptcy. Bought GTE, PWE, DNR stocks and SFY bonds. Flip flopped TLM for one day gain.
Sold - pretty much everything in "positions eliminated" category is somewhat attractive, feel free to consider them as long ideas. :) MSFT leftover is in taxable account and is waiting until it hits long-term taxable point.
Bought:
GDWN.L - family operated UK firm with good earnings history. Somewhat cheap, but energy industry exposed.
KRSL - activist investor and unhappy director. Company tried to pay off with $3 divvie. The story might not be finished, but less attractive here.
BFCF/BBX - sum-of-parts investment presented on this thread and other places couple times.
ISIG - Mr. Big from BH retaliated against activist investors trying to proxy fight BH by buying positions in companies where these investors held substantial positions. So now ISIG has two activist investors in it - bring the popcorn! |
