Monday, January 1, 2018

Portfolio overview - December 2017

My top (>2%) positions in no particular order: BRKB, FRFHF, LSXMA, JPM, EXXRF, ISTB, TESB.BE, DISCK, LVNTA, MKL, AAPL
In: DISCK - price went up

Fixed income: 9%
Cash: 7%
Sectors (kinda): Insurance(FRFHF, BRK, MKL): 23%, Malone/media: 16%, Banks/financials: 9%, Oil: 2%, Medical/pharma: 1%, Tech: 9%, Various owner-operators (not included in other categories): 17%

New positions: AMCX, CARS
Positions increased: VEEV, IDT, BRKB, FFXDF
Positions reduced: BACPRL, Fannie/Freddie prefs, Microcap K
Positions eliminated:
Flip-flop: Microcap M (special situation workout)

Sold some BACPRL as the yield is not very attractive anymore. Sold some Fannie/Freddie prefs as they have run up in expectation of political solution that benefits prefholders.

Added to IDT, BRKB, FFXDF at OKish prices. Added a bit to VEEV - not a value stock.
Bought some AMCX - yet another stock in media area.
Bought some CARS - spin-off/IPO from Tegna with an activist shareholder and possibly improving future results.

My 2017 IRR is about 18.8% underperforming SP500 and BRK.

No comments: