PORTFOLIO UPDATE DECEMBER 24:
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 position trades are recorded for the thread (daytrading is not included – follow the thread for those).
This is a diversified, medium risk portfolio aimed at aggressive growth without undue risk to the original capital. The largest single position is less than 15% of the total portfolio. Position plays are augmented by regular intraday and overnight trades.
In dollar terms, the portfolio is now at an all-time high for 1999.
New additions (since 12/18): Long – ESHR, WM Jan 2002 25 calls, HEAR (again), GENE, INPH (again), PFSW. Short - ZIXI Jan 35 puts.
Out (since 12/18): Long – CNQR, TMNG, ANDN, LOOK, MQST (AOL buyout). Took profits in half-positions in ESHR and GENE.
Now holding 74% techs and 25% non-tech stocks (with 1% cash).
Portfolio currently ahead +131% YTD, up from +125% on December 18. Dow is up 24% (up from 22%), NASDAQ 79% (up from 69%) and S&P about 19 (up from 16%). The Internet Index is now up 175% YTD.
According to the Bloomberg Mutual Fund Center, the 50% Gains portfolio ranks 26th in the top 25 US Technology mutual funds for YTD performance. It takes +133% YTD to make the cut right now. bloomberg.com (select Technology Funds)
Core holdings: AREM, AOL, ASDS, CMGI, COMS, DCLK, FFTI, IMCL, ISWCX, LPAC, MGIC, MSFT, MSGI, NSATF, RNWK, VRIO, WPNE: 56%.
50% Gains Candidates: BINC, BOSC, CYPLF, ESHR, FORTY, GENE, HEAR (again), HUMC, INPH (again), LDP, LINK, OPAY, PFSW, SFP, SGNT, WORK, WAXS: 34.5%.
Tradin' Trash: None
Options: CNC Jan 22.5 calls, ZIXI Jan 35 puts, BTGC April 10 calls, SRCM April 7.5 puts, PETM May 5 calls, THQI June 30 calls, T January 2001 56.6 LEAP calls, WM Jan 2002 25 calls: 8.2%. (Note: I shifted from BTGC common shares to the BTGC April 10 calls)
Cash: 1%.
Current shorts: ZIXI. Equals 2.6% of portfolio value long, down from 3.5% on December 18.
SECTORS: The portfolio is now overweighted with tech stocks and Internet stocks for the year-end rally. Options holdings are included. After January 1, I plan to return to a better tech/non-tech balance and hedge the portfolio with some index puts.
Internet Services: AOL, CMGI, RNWK, VRIO, DCLK, BOSC, MSGI, WPNE, ASDS, ESHR, HEAR, PFSW (32.1%)
Broadcasting/Communications: ISWCX, LPAC, T LEAP calls, NSATF, TMNG, WAXS (20.3%)
Software: HUMC, THQI calls, MGIC, MSFT, AREM, SGNT, FORTY (14.8%)
Biotech: BINC, IMCL, BTGC calls, GENE (9%)
Business Services: FFTI, OPAY, WORK (7.4%)
Hardware: COMS, LINK, INPH (5.1%)
Gaming: CYPLF/CRY.TO (4.2%)
Retailers: PETM calls, SFP (2.2%)
Financial: LDP, CNC calls, WM calls (3.8%)
Currently 28 winners and 6 losers, or 28 and 7 if you count shorts (options are too volatile to include week to week).
Comments, questions and suggestions more than welcome as always.
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