Buy/Sells from last update
The largest move this last week was mid-year tax loss harvesting. I go through the portfolio where I have lots that show losses and are far away from the current price (I build positions over many weeks/months). I tend to buy early at higher prices and sell the high cost shares either as (1) stock rallies or (2) after a period of time and harvest those losses to reduce my cost basis.
I take my largest losses and/or largest position w/ some high cost shares losses, sell those high cost shares and evaluate in 31 days. Do I want to buy back those shares and/or balance position size and/or double down on the position (& value proposition).
I do this again in October/November period to rebalance all positions, clear out small positions and evaluate total gains vs losses. All long term gains are held inside the portfolio for years/decades as long as the companies continue to deliver on their metrics.
(Note: Once high cost share losses are harvested; my average cost basis typically moves much lower.)
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Positions under review and/or losses harvested:
BGS, CAG, UGI, INMD, LEG, INTC, TITN, CNDT
I did by back 20% of the high cost BGS shares sold
I closed out CCRN for a loss and no plans to buy back
Will evaluate CAG, UGI as I continue to like both for div yield & value. Buying back shares will depend on at what price in 31 days. I did harvest losses on both and at higher prices. I tend to sell my high cost shares that were bought 15% (or higher) from the current price. Only 20% of the CAG and BGS qualified for tax loss harvesting. 80% are w/i that 15% price range.
I like INMD and will harvest losses next week. 75% of the position will be harvested and after 31 days may buy those shares back as the value proposition still is attractive. There are some company specific issues like patent litigation which may/could result in a very large gain for the company.
LEG is my largest loser and will be eligible to begin harvesting 6/1/2024. I do like the restructure in process but this will take 24 months if not more. Unexpected a new CEO was announced last week so there may/could be more huge write downs. Maybe 20% more down side but this could eventually be a multi bagger (24 to 36 months) w/ the downsizing of manufacturing facilities, selling that real estate and bringing more efficiency into their systems.
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Other recent Buys: GEF, SJM, JWN (a new position), HBIO (from Richard Speculating In Takeover targets), SOLV (spin off from MMM), ADM, CNHI, MTW, HR, G, AGCO, PYPL, ANMF, BAX (a new position), GOOGL, ORCL, TWI, ZBH
recent Sells; SRE, EIX, LEVI, GOOS, MKSI, NRG, TSN, SYM, KD, ENB, WMB, MMM, PAHC, GILD, QCOM, VNT, FCX, IFF, EPR, GEF, G,
closed out LOCO (nice s/t gain from Richard Speculating In Takeover targets)
closed out LIVN (small gain)
closed out HITI (small gain)
closed out APA (booked a small loss)
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FCX, WMB, KMI, ENB are some of my positions held for over 5 years (and longer) where I started to peel off shares. Not yet at all time highs but getting close.
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Other fun facts; 40% of the taxable portfolio represent long-term capital gains held inside the portfolio.
largest gainers in taxable portfolio; KLAC +1,468%; GLW + 618%; PSX +603%; UAN +598%
FCX +308%; AMNF +300% & CVX +300% largest dollar gainers
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In hindsight, could have had more multi baggers if I invested more in growth & Tech stocks. However, you have to be comfortable with what you own, understand the industry & management and stay diversified w/o huge bets or leverage.
I try to buy 1% positions and let them grow to a 3%-5% holding. AMNF a micro-cap, always paid a dividend and after 14 years is my No 2 position (a 4 bagger & still growing) |
