Fat Pitch Financials Portfolio Third-Quarter 2008 Update

The Fat Pitch Financials Portfolio ended the third quarter battered. This Marketocracy portfolio ended the month down -7.10% versus -8.84% for the S%P 500. Over the past quarter, the portfolio is down -1.77% versus -7.05% for the S%P 500 over the same period. Thankfully, the portfolio is still up 18.51% since inception. The annualized performance of the FPF Portfolio since inception in 2004 is still a positive 4.30% versus 2.75% for the S%P 500 over the same period.

The following table provides a breakdown of my current holdings and their performance:

Fat Pitch Financials Holdings as of September 30, 2008

Symbol  Price  Shares  Value  Portion of Fund  Inception Return
 WU  $24.67  2290  $56,494.30  4.75%  13.09%
 WEST  $14.40  5770  $83,088.00  6.99%  10.72%
 MSFT  $26.69  8220  $219,391.80  18.46%  10.53%
 KFT  $32.75  2000  $65,500.00  5.51%  8.99%
 USB  $36.02  2940  $105,898.80  8.91%  5.81%
 EBAY  $22.38  2760  $61,768.80  5.20%  2.69%
 BID  $20.06  5540  $111,132.40  9.35%  -11.20%
 BR  $15.39  2600  $40,014.00  3.37%  -20.26%
 PFE  $18.44  2010  $37,064.40  3.12%  -25.94%
 MHP  $31.61  1610  $50,892.10  4.28%  -27.42%
 LENS  $2.41  12140  $29,257.40  2.46%  -36.73%
 MWRK  $13.88  6710  $93,134.80  7.84%  -37.37%
 USG  $25.60  1080  $27,648.00  2.33%  -45.01%
 PRXI  $1.80  13610  $24,443.56  2.06%  -59.34%

The total value of this paper portfolio was $1,188,528.29 (11.89 per share) on September 30, 2008. Of that amount, $1,005,728.36 was invested in stocks and $182,799.93 remained in cash.  The cash position still represents 15% of the portfolio.

This past month this portfolio saw quite a bit of activity compared to normal.  On September 17th, I added additional shares of Sotheby’s (BID) to the account at an average cost of $20.79 per share. Then on Septemeber 22nd, I started a new position in eBay (EBAY). I’ve been looking to add a few more stocks given all the chaos in the market.  I’ll let you know how that develops.

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