My top (>2%) positions in no particular order:
BRKB, FRFHF, LSXMA, JPM, EXXRF, DISCK, LVNTA, TESB.BE, ISTB,
Fannie/Freddie prefs, MKL, AAPL
In:
Out: SRLN - sold
Fixed income: 8%
Cash: 11%
Sectors
(kinda): Insurance(FRFHF, BRK, MKL): 23%,
Malone/media: 16%, Banks/financials: 9%, Oil: 2%, Tech:
6%, Various owner-operators (not included in other
categories): 18%
New positions: NTES, BACPRL, PONDX
Positions increased: MCO, WBMD, LSXMA, BRS bonds, ISTB
Positions reduced:
Positions eliminated: FWP, NOV, SRLN, Nanocap B
Flip-flop:
Quite
a bit of activity in fixed income. Bought more BRS bonds as they fell
below 70% par. Bought a little position in BACPRL. Sold SRLN. On higher
quality side bought more ISTB and some PONDX.
Sold FWP as the
special situation upside became less clear. Sold remainder of NOV - the
company might do well and be bought out or turnaround, but I decided to
move on.
Added some MCO and LSXMA at a bit rising prices. Added a bit more WBMD - still expecting a deal.
Bought a starter position in NTES.
Monday, June 12, 2017
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