Taxable Investment Account
My tendency is to remember the "lemon decisions" far longer than the winners. As such, it's cleansing to mention these first. This month's laggards included:
- CLF down 4%. This one should have been sold long ago. Now it's more of an option play as the position has lost so much it's become underweight.
- BA down 6%. Long term hold. No action planned.
- CLVS down 19%. Clearly this one did not recognize the overall strength in the IBB. Still a small long term speculative play with no changes expected.
Luckily the positives this month far outweighed these mishaps and, more importantly, were much heavier weighted than the above. Of the 40 equity positions, the majority were up during the month. The following list represents equities that moved 6% or more:
- AHT 7.9%
- BX 7.6%
- CLDX 11.7%
- CTRL 8.3% (2 weeks)
- EVEP 7.3%
- FB 6.3%
- INSY 20.9%
- KKR 7.0%
- KMR 9.5%
- LAD 19.9%
- LINE 11.4%
- PRU 8.0%
- SGEN 14.6%
- SQNM 26.1%
- TWTR 26.3%
- WYY 10.7%
|February||0.25%||0.27%||3.03 %||3.5%||4.3 %||5.0 %|
|April||0.10%||0.46%||0.77 %||1.3 %||0.6 %||(2.0)%|
|May||0.31%||0.30%||2.92 %||3.5 %||2.1 %||3.1 %|
|June||0.25%||0.33%||6.02 %||6.6 %||1.9 %||3.9 %|
June Activity: One new position this month (NASDAQ:CTRL). The remaining buys were additions to existing positions. Exited ARCP, GILD, HIIQ, RIG and YHOO this month. GILD was a bounce play. HIIQ was an investment on ACA which didn't work out. ARCP and RIG had been long term positions which were consistently under performers. YHOO resulted in a modest trading profit.
- Shares bought (ARCC, BAC, CTRL, HTZ)
- Shares sold (ARCP, CLDX, GILD, HIIQ, HTZ, RIG)
- Puts closed (EBAY, TWTR)
- Puts sold (C, EBAY)
- Calls closed (BX, CLVS, DAL, DLR, FB, KKR, LAD, NPSP)
- Covered calls sold (BX, CLVS, FB, HTZ, KKR, NPSP, PRU, TWTR)
- Stocks assigned (NYSE:HTZ)
Tax Deferred Account
This account is a more conservative yield-only investment account. The average dividend yield is 4.6% across the portfolio. The returns for June were 2.1% bringing the YTD to 8.2%. Currently have 12% in cash after the June calls were assigned. One open call (July $43.50) written against MO at month end.
June activity included:
- Additions (yield): AMGN (2.1%), BGS (4.2%), VZ (4.3%).
- Dispositions (assigned from covered calls sold): AAPL, PAAS.
Disclosure: The author is long ABBV, AHT, AMGN, APU, ARCC, ARLP, BA, BAC, BAX, BMY, BX, C, CBMX, CLDX, CLF, CLVS, CODI, CTRL, DAL, DLR, DOW, EVEP, FB, FCX, GE, HCP, HTZ, HPQ, INSY, JNJ, JPM, KKR, KMR, LAD, LGF, LINE, MMM, MO, MS, MSFT, NPSP, PFE, PRU, QRE, SGEN, SQNM, TSYS, TWTR, VZ, WYY.