Monday, April 16, 2018

Portfolio overview - March 2018

My top (>2%) positions in no particular order: BRKB, FRFHF, ISTB, JPM, EXXRF, LSXMA, DISCK, GLIBA, MKL, AAPL
Out: TESB.BE - sold

Fixed income: 10%
Cash: 7%
Sectors (kinda): Insurance(FRFHF, BRK, MKL): 23%, Malone/media: 15%, Banks/financials: 9%, Cars: 1%, Oil: 2%, Medical/pharma: 1%, Tech: 10%, Various owner-operators (not included in other categories): 14%

New positions: BYDDF, TVPT
Positions increased: FB, BAM
Positions reduced: TESB.BE, Fannie/Freddie prefs
Positions eliminated: MD

Some changes in portfolio.

I decided that TESB.BE is not a great business and may not have great results going forward even with good management at the helm. I sold most of my position. The business is cyclical though and I may have sold before cycle turn.
I exited MD position due to questionable news.
I further reduced Fannie/Freddie pref position as there were no positive news on the regulatory side or on the legal side.

I added to FB and BAM as stocks have dropped.
I bought initial tracking position in BYDDF.
I bought a position in TVPT. It seems to be a good business targeted by activist investor.

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