Sunday, November 13, 2016

Portfolio overview - October 2016

My top (>2%) positions in no particular order: FRFHF, BRKB, JPM, EXOSF, DISCK, ISTB, LSXMA, NOV, TESB.BE, MKL, AAPL

Fixed income: 5%
Cash: 14%
Sectors (kinda): Insurance(FRFHF, BRK, MKL): 27%, Malone/media: 14%, Banks/financials: 8%, Oil: 4%, Tech: 3%, Various owner-operators (not included in other categories): 15%

New positions: UHAL
Positions increased: Microcap G, LSXMA, LILA
Positions reduced: BAC, AXP
Positions eliminated: GENGF, MCESF, BUD, COST, BATRK, JLL, Nanocap C, NVAFF, DISH, ZPTAF

Stock rally after Trump election victory was a good time to clean up portfolio and raise some cash.

I sold stocks of good businesses that were possibly highly valued: BUD, COST, NVAFF, DISH.
I sold oil stocks: GENGF, MCESF, ZPTAF.
I reduced positions a bit in BAC and AXP. I believe both of them are undervalued and I may buy them in the future.
I sold out of BATRK and JLL. These might be somewhat attractively valued stocks in pretty good businesses. However, I decided that I don't have strong enough conviction to hold them at this time.

I started new position in UHAL. It seems to be good business at a good price.
I added a bit of LSXMA and LILA.

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