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I promised I'd do a performance update on my 10 Clean Energy Stocks for 2009 each quarter. Here is the first (although readers got a mini-update in mid February, because I decided I didn't want to use double-shorts.)

Company Ticker

Change 12/27/08 to 3/27/09

Dividend & Interest

The Algonquin Power Income Trust AGQNF.PK +7.14% 5.36%
Cree, Inc. CREE +59.96%
First Trust Global Wind Energy ETF FAN -10.73%
General Electric GE -32.50% 1.94%
Johnson Controls JCI -25.97% 0.77%
New Flyer Industries NFYIF.PK +13.52% 2.31%
Ormat ORA +6.81% 0.23%
Trinity Industries TRN -33.20% 0.47%
Warterfurnace Renewable Energy WFIFF.PK +17.77% 1.05%
-2x S&P Depository Receipts + 3x Cash (was SDS until Feb 13) 3x $ - 2x SPY 4.31% -0.14%
Total Portfolio 1.61%

Benchmarks

S&P 500 -6.51%
iShares S&P Global Clean Energy Index (NASDAQ:ICLN) -7.30%

As you can see, the portfolio has been strongly outperforming both the market index (+8%) and clean energy stocks (+9%). The big gainers were Energy Efficiency Stocks Cree (NASDAQ:CREE) and Waterfurnace Renewable Energy (OTC:WFIFF), and Mass Transit stock New Flyer Industries (OTC:NFYIF). All of these are set to benefit from the American Recovery and Reinvestment Act: New Flyer even received a visit from Vice President Joe Biden.

The inclusion of these stocks in the list was no accident: I chose to emphasize energy efficiency and transit because I was expecting them to be a large part of the stimulus (although I can't claim to have predicted the VP's travel itinerary.)

On the losing side, we see conglomerates (each also involved in clean transportation and / or energy efficiency) which have been knocked down by the continuing financial crisis (NYSE:GE), car industry (Johnson Controls (NYSE:JCI)), or rail industry (Trinity) (NYSE:TRN), all of which have been disproportionately hurt by one aspect or another of the continuing downward slide of the economy. It was for just this contingency that I included the SPY short, since, as I said "I feel there is more downside risk than upside potential for the market as a whole in 2009."

As usual, in hindsight, I feel I should have seen the implications of GE's exposure to finance, or Johnson Controls' exposure to the auto industry, but I can't complain about the overall performance.

Stay tuned for updates on my Ten Clean Energy Gambles for 2009 (on a losing streak, but no more than the benchmarks) and my Quick Clean Energy Mutual Fund Tracking Portfolio (more "turbo-charged" than "tracking") as these come up on 3 months after the articles were published.


DISCLOSURE: The author owns AGQNF, CREE, FAN, GE, JCI, NFYIF, ORA, TRN, WFIFF.

Source: 10 Clean Energy Stocks for 2009: End of Q1 Performance Update