This Weeks Activities
No great change over the last few weeks. Adding cash to my account predominantly and picking up a few shares here and there that suit my plan. Still holding off adding growth stocks.

Income Portfolio: Increased position size in $KR. Collected dividends on $WMB $SCHD $VNQ $GLW $TROW $SCI $AVGO $FAX $DSL .

Growth Portfolio: No action

Speculative: Sold a long term bag of $GTBP and have added that cash into my Growth Portfolio.
Steve Matt's avatar
$10.6m follower assets
My May Returns Are In!... And They're Not Great (Still).
As I said in April, my horizon remains 20+ years out. I see my portfolio getting pummeled right now and generally don't care. I only see opportunity.

Retirement Portfolio
In May, I added to $ABNB, $BIPC, $CHWY, $CRM, $CRWD, $DDOG, $GLOB, $JPM, $MMM, $MPW, $O, $OKTA, $PEP, $PGNY, $PLD, $PUBM, $SHW, $SWAV, $TROW, $U, $UPST, and $ZS. I also added to $AAPL, $COST, $JPM, $O, $SBNY, and $SBUX via DRIP. I exited $SMG and $XYL.

May saw my retirement portfolio retreat by 6.86%, bringing my YTD fall to 37.36%, easily getting beat by $SPY, $QQQ, and $VTI.

I'm still learning this new investment software so my all-time performance below is only through the end of 2021.

It's safe to say QQQ is beating me by at least a couple hundred bps through May 31, 2022. I'm certainly still trouncing SPY though.

My Top 10 holdings by current market value make up ~34% of my portfolio.

Taxable Portfolio
My taxable brokerage is ~10% of my total investments. It's also much more speculative (early stage medtech is a big portion). In May, I added to $SILK, $BTC.X, and $ETH.X. Nothing in my taxable brokerage pays a dividend so no DRIP. I didn't exit anything either.

May saw my taxable portfolio retreat by 9.67%, bringing my YTD fall to 42.22%, easily getting beat by $SPY, $QQQ, and $VTI.

My taxable has gone through 3 different iterations over the past 13-ish years. You can see there was no holdings around 2013 and again around 2017 as I sold out of all positions for different life reasons. The beginning to 2013 iteration was the "I don't know what the fuck I'm doing, let me buy random companies I know with no research and pray" phase. Thankfully it was a bull market and I got lucky. The 2014 to 2017 iteration was "I nailed it last time. I'ma do that again but also play with options as well" phase. You can see how well that worked out.

This iteration is actual research with a what-can-this-company-be-in-a-decade being my main thought. This approach is why I don't mind seeing my this portfolio getting whooped. None of the positions in this portfolio are core holdings, which means I follow them quarter-by-quarter via 10-Q/K, press releases, general news, etc. I have my finger on the pulse and the underlying businesses are performing as I hoped or struggling by with bright spots (looking at you $DMTK, $LMND, and $BIGC).

(Note: I didn't lose almost all my money in 2015 but I can't figure out why the software is calculating it that way. 2015 was a bad year in the taxable portfolio but not that bad. Hopefully I have it corrected for my June update).

My Top 10 holdings by current market value make up ~90% of my portfolio.
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Steve Matt's avatar
$10.6m follower assets
1 of 10
401k Buys
They didn't all map over to Commonstock so here's a breakdown of my monthly 401k buys. I buy the same dollar amount of each once per month. This month equaled ~13% more to each total cost basis.

$BIPC - Added ~12% more shares
$CRM - Added ~20% more shares
$PEP - Added ~12% more shares
$O - Added ~13% more shares
$MMM - Added ~14% more shares
$SHW - Added ~14% more shares
$MPW - Added ~16% more shares
$PLD - Added ~16% more shares
$JPM - Added ~16% more shares
$TROW - Added ~18% more shares
Portfolio Performance - April 2022
Not pretty at all this month, but as a long term investor I feel I picked up some bargains that will see me in good stead in the years to come.

Income portfolio slightly outperformed the SPY, still negative in terms of capital gain but up overall with currency gains.Biggest gainer was $MRK up 10%, biggest loser was $TROW down 20%.

Growth and Value portfolio was in the toilet as expected with this months turmoil. Biggest gainer was $DJP up 10%, biggest loser clearly $TDOC down 50% for the month.

Swings were also hammered, $NOTV down 42%, took profits on $JOB after a 10 month wait. Yes I am a notorious bag holder an I understand the concept of stopping out and getting into other winners - I just can't take the realised loss :)
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$TROW Ihave been adding to since I got in off 85% from 52 week highs. Ring a dividend aristocrat, I would be more than comfortable holding for ten years, or I can sell when it reverts the mean and swings closer to fair value. With one of my top 5 picks like T. Rowe, I’ll keep adding the as long as they want to be this irrational.
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Largest Market Caps >> New Lows
There are some brutal charts out there. Many of them are the largest and most well known companies in the world. Here are some of them:

Visit highsandlows.substack.com to see more
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Portfolio Update: 7 February 2022
The sell-offs this year prompted a lot of action in my portfolio. I've probably done more work this month than I did all year in 2021.

TBD on whether that's good or bad!

Here's what I've been up to so far this year.

Sold:

$ELP: Nothing wrong with the stock or thesis, just wanted to add more liquidity with other buying opportunities. The stock provided some very juicy dividends, and I was up around 6% when I sold. In addition, I wanted to limit my Brazilian exposure since I bought another very large Brazilian company (see below).

$PAM: Same story as $ELP; wanted to limit risk and lock in a gain. I was up nearly 30% when I sold, and I wanted to limit my exposure to Argentina, which is extremely volatile.

$BAH: I still love this company and didn't want to sell, but it has been aggravating to be a shareholder in this company. Management didn't make bad decisions per se, but I thought they would eliminate some risk by buying down some debt, but it seems their priorities lie elsewhere. Locked in around a 9% gain.

$BEPC: When I bought this stock, I was a bit more bullish than I should have been. This was the classic "did the research over a week and talked myself into it" purchase. There's nothing wrong with the company, I just wanted to invest in a company that I had more confidence in.

I broke even on this trade.

Bought:

$JOUT: Just like a lot of businesses right now, the company is having supply problems and slowing post-pandemic sales, which caused the stock to plummet. Over the last quarter, this company's stock has fallen below $90 a share.

I averaged down a bit during this period, but I haven't bought anymore since it's already a big chunk of my portfolio. I have no concerns here because the management is great.

$PBR: After doing my own research and reading an excellent report from Sven Lorenz at Undervaluedshares.com, I decided to buy some shares of Brazilian oil giant $PBR.

In the next five years, the company seems very well positioned to return tons of cash to shareholders through dividends. While elections in Brazil may prove volatile later this year, I believe I will benefit from shareholder-friendly dividends and a huge demand due to current and future energy shortages.

$FLWS: A week or two ago, $FLWS reported some pretty negative quarterly earnings, and the stock price got pummeled. Just like $JOUT, $FLWS is suffering from short term supply chain and labor costs.

As usual, I took advantage of the downturn by buying more. Management is firing on all cylinders despite supply chain problems.

$TROW: One of the top public asset managers. Due to the market overreacting to somewhat negative earnings, I consider this stock to be a steal under $200 per share. It has a great business model, stable growth, a flawless balance sheet, pays a decent dividend, and buys back its shares.

It may not be going to the moon, but $TROW is a solid cornerstone for any portfolio.

$NVR: similar to $TROW, with the exception of no price declines. It took me a long time to decide to buy stock, but now I'm happy I did. $NVR is the safest and most shareholder friendly homebuilder to take advantage of the housing boom.

$GOOGL: You can see my previous post on this I did last week, but it's the same story as $NVR; great business at a fair price. My fear of big numbers was preventing me from owning one of the best businesses in the world, but I quickly changed course.

$PYPL & $FB: Established (small) positions during the large sell off last week. I like both for the same reason: cash cow networks.

Even if both companies lose market share and their FCF declines, the risks (to my mind) are baked into these valuations. Providing the companies continue to hold decent market share, shareholders will receive significant cash flows for many years to come.

For me, everything else (metaverse, crypto, VR, etc.) is free chicken.
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Eric Pelnik's avatar
$273.9m follower assets
Earnings this week
📞 Which calls are you most excited about?

Monday, April 26th
$RRC Range Resources
$TSLA Tesla
$MSTR Microstrategy

Tuesday, April 27th
$MMM 3M
$GOOGL Alphabet
$AMGN Amgen
$SYK Stryker
$GE General Electric
$CROX Crocs
$CB Chubb
$SHW Sherwin-Williams
$SBUX Starbucks
$MSFT Microsoft
$COF Capital One
$FISV Fiserv
$FEYE FireEye
$HAS Hasbro
$V Visa
$WM Waste Management
$PINS Pinterest
$AMD Advanced Micro Devices

Wednesday, April 28th
$AFL Aflac
$ORLY O'Reilly Automotive
$SWK Stanley Black & Decker
$BA Boeing
$AAPL Apple
$F Ford
$CAKE Cheesecake Factory
$LC Lending Club
$EBAY eBay
$FB Facebook
$TDOC Teladoc
$NOW ServiceNow
$SPOT Spotify
$SHOP Shopify

Thursday, April 29th
$AMZN Amazon
$TEAM Atlassian
$AMT American Tower
$ETH Ethan Allen Interiors
$BMY Bristol-Myers Squibb
$TAP Molson Coors Beverage Co
$HSY Hershey
$PCG PG&E
$CHD Church & Dwight
$MCD McDonald's
$KHC Kraft Heinz
$NOC Northrop Grumman
$CG Carlyle Group
$DPZ Domino's Pizza
$FIVN Five9
$TROW T Rowe Price
$ZEN Zendesk
$TWTR Twitter

Friday, April 30th
$PSX Phillips 66
$ABBV Abbvie
$XOM Exxon Mobil
$CLX Clorox
$CVX Chevron

Sources: Business Insider, Google Finance, and Yahoo Finance
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