PORTFOLIO UPDATE JULY 3:
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 gear with the 50% Gains portfolio taking off along with the major averages.
In dollar terms, the portfolio is now only 2% off its high for 1999 – which is more than I can say for a lot of individual stocks.
New additions (since 6/26): FPAFF, HPK, TACO, MFNX Aug 37.5 calls, BAMM short.
Out (since 6/26): VUSA, RIG, BWT short, BXM, CS July 15 calls.
Now holding 49% techs and 52% non-tech stocks (with 1% margin balance).
Portfolio currently ahead 60% YTD, up from +50% on June 26. Dow is up 22%, NASDAQ 24% and S&P about 13%. The Internet Index is also up 60% 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 12 of those are Asia or Russia-based funds). It takes +62% YTD to make the cut right now. The one-year performance (108) ranks 19th. bloomberg.com
Core holdings: AOL, BRKB, CMGI, EGRP, FNDTF, FRNT, MFNX, MSFT, MSGI, RNWK, SILK, URBN, VRIO, WCOM: 52%.
50% Gains Candidates: BINC, CBUK, CMCSK, CYPLF, HPK, HSAC, IFSX, IMCL, LWIN, LPAC, PRVT, SBTV, SONE, STRM, TACO, TGLO: 41%.
Tradin' Trash: FPAFF, WEIR: 3%.
Options: CS July 10 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%.
Current shorts: BAMM, KOPN and ICCSA. Equals 8% of portfolio value long, up from 6.5% on June 26. Two positions are slightly behind while BAMM is in the black.
SECTORS: Internuts lose out to Communications with VUSA gone. Biotech, Gaming and Retailing are all getting a bit fatter too. Options holdings are included.
Broadcasting/Communications: WCOM, MFNX, LWIN, LPAC, T calls, SBTV, HSAC, CMCSK (24.5%)
Internet Services: AOL, CMGI, RNWK, VRIO, MSGI, TGLO, PRVT, STRM (22.5%)
Financial/Insurance: BRKB, EGRP, IFSX, SONE (18%)
Software: FNDTF, SILK, MSFT (9%)
Retailers: URBN, WEIR, HMK, CBUK, TACO (7.8%)
Biotech: BINC, IMCL (6.4%)
Gaming: CYPLF, HPK (6.3%)
Energy: WMB calls (4.7%)
Travel: FRNT (1.3%)
Asia: FPAFF (1.27%)
Hardware: CS calls (.3%)
Currently 23 winners, 2 break even and 7 losers, or 24, 2 and 9 if you count shorts (options are too volatile to include week to week). Three 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 (+7%)
Current holdings: AOL BRKB CBUK CMCSK CMGI
CS EGRP FNDTF FRNT GIC HPK HSAC IFSX
IMCL LWIN MFNX MSFT MSGI PIXR PRVT PTEK
RIG RNWK SBTV SILK SONE STRM T TACO
TGLO URBN VRIO VUSA WCOM WMB
Holdings range from 1000 BRKB shares to 123,500 CBUK. I will keep RIG for now until I add something new. |
