PORTFOLIO UPDATE JUNE 26:
For new lurkers, I update my portfolio from time to time so you can see how I have distributed my holdings among sectors, and track the winners and losers. This is a real portfolio – no smoke, mirrors, newsletters or other hype jobs. All of my trades are recorded for the thread.
The market is back in drift mode. Since I didn't have much time to trade last week, the 50% Gains portfolio has drifted right along with the major averages.
In dollar terms, the portfolio is now 10% off its high for 1999 – which is more than I can say for a lot of individual stocks.
New additions (since 6/19): CBUK (again), more CRY.TO/CYPLF, GIC Dec 45 calls, CS July 15 calls and more CUST Nov 17.5 puts, KOPN short.
Out (since 6/19): NORE, AIB, AMG, BTGC, USAB, BTIM puts.
Now holding 53% techs and 48% non-tech stocks (with 1.5% margin balance).
Portfolio currently ahead 50% YTD, down from +54% on June 16. Dow is up 15%, NASDAQ 16% and S&P about 7%. The Internet Index is now up 44% YTD.
According to the Bloomberg Mutual Fund Center, the 50% Gains portfolio is now behind the top 25 US mutual funds for YTD performance (though 13 of those are Asia or Russia-based funds). The one-year performance (95%) ranks 19th. bloomberg.com
Core holdings: AOL, BRKB, CMGI, EGRP, FNDTF, FRNT, MFNX, MSFT, MSGI, RNWK, SILK, URBN, VRIO, WCOM: 50.5%.
50% Gains Candidates: BINC, BXM, CBUK (again), CMCSK, CYPLF, HSAC, IFSX, IMCL, LWIN, LPAC, PRVT, RIG, SBTV, SONE, STRM, TGLO, VUSA: 44.5%.
Tradin' Trash: WEIR: 1.5%.
Options: CS July 10 calls, CS July 15 calls, PTEK August 15 calls, HMK Sept 16.6 calls, CUST November 17.5 puts, GIC December 45 calls, WMB January 2001 40 LEAP calls, T January 2001 56.6 LEAP calls: 5%.
Cash: -1.5%.
Current shorts: BWT, KOPN and ICCSA. Equals 6.5% of portfolio value long, up from 4.5% on June 19. All three positions are slightly behind.
SECTORS: Internuts holding the lead from Communications. I dropped several Financials ahead of the expected interest rate increase this weekend. Options holdings are included.
Internet Services: AOL, CMGI, RNWK, VRIO, MSGI, VUSA, TGLO, PRVT, STRM (25.7%)
Broadcasting/Communications: WCOM, MFNX, LWIN, LPAC, T calls, SBTV, HSAC, CMCSK (24.5%)
Financial/Insurance: BRKB, EGRP, IFSX, SONE (18%)
Software: FNDTF, SILK, MSFT (9.2%)
Biotech: BINC, IMCL, BTIM puts, BXM (8.5%)
Retailers: URBN, WEIR, HMK, CBUK (5%)
Energy: WMB calls, RIG (4.7%)
Gaming: CYPLF (4.3%)
Travel: FRNT (1.3%)
Hardware: CS calls (.3%)
Currently 19 winners, 2 break even and 11 losers, or 19, 2 and 14 if you count shorts (options are too volatile to include week to week). Four of the losers are less than 10% in the red.
Comments, questions and suggestions more than welcome as always.
NEW – To level the playing field with mutual funds, I created the Fifty Percent Gains Hypothetical Mutual Fund (FPGHMF) with all my stocks over $100 million market cap, no shorts or options and no margin. The fund was started on June 13, 1999 with a cash balance of $50 million. Stocks are added and deleted at the same time as the real 50% Gains portfolio (except stocks under $100 million market cap).
Performance since inception (-.25%) |
