My top (>2%) positions in no particular order: BRKB, FB, PSHZF, AAPL, GOOG,
In:
Out: EXXRF - sold part of the position
Fixed income: 9%
Cash: 13%
Sectors (kinda): Insurance (BRK): 12%, Malone/media: 1%, Banks/financials: 7%, Stock funds: 10%, Cars: 0%, Oil: 0%, Medical/pharma: 1%, Tech: 29%, Various owner-operators (not included in other categories): 3%
New positions: IWO, MELI, SSNC, WMICX, AMD, PMD, GBTC, THRY, TCEHY, TOITF, VRTX, RMD
Positions increased: BCSVX, FB, VMW, RILY, CURN, GOOG, SHOP,
Positions reduced: AKREX, JPM, PSTH, PROSY, IAC, ANGI, EXXRF, TWTR, DFS
Positions eliminated: FIGFX, KNOP, INTC, CVS
Flip-flop: BB, CRSR, F
I have not been active on the fixed income side. I have been buying a number of SPACs in the 10.1x-10.3x range and selling above 10.6x. The list of tickers is too long to mention. I have also bought tiny speculative positions in a couple of SPAC warrants. These have fared worse so far than the relatively less risky purchases of SPACs themselves.
In the mutual fund space, I have sold some AKREX since I am not sure if I want to keep the fund after Chuck Akre's semi-retirement. I decided to sell FIGFX due to overlap with my direct holdings and instead to add to BCSVX. I bought a tiny bit of IWO for tracking. I also bought some WMICX since I liked the fund.
I did some buying and selling in the WSB favorite space with BB, CRSR and F. No interesting stories to tell. Clearly my hands are paper and not diamond.
Bought tracking positions in SSNC, AMD and RMD. Although MELI is expensive, I bought a position that is a bit larger than pure tracking. If MELI very high growth rate continues, the stock may still be attractive. It is a big "if" though. Reentered TCEHY while reducing PROSY, since I decided that TCEHY may be more attractive.
I bought some value-and-story stocks: PMD and THRY.
After Constellation distributed Topicus TOITF shares, I bought some more.
VRTX shares have been trending down for some time. The valuation is now attractive if the company can maintain 10-15% growth. I initiated a position.
I have added to FB, VMW, RILY, CURN, GOOG at IMO attractive valuations. Added a bit to SHOP tracking position.
Reduced positions in PSTH, IAC, ANGI, TWTR on runup and valuation. Sold some JPM, DFS and EXXRF. JPM and DFS valuations are not high, but expected returns may not be very attractive. EXXRF is still saddled with rather mediocre businesses that will have difficulties achieving superior results.
Sold tracking position in KNOP. Sold INTC on CEO change. Sold CVS on uncertain future outlook.
