Fat Pitch Financials Portfolio February and March 2010 Update

I just realized that I didn’t get around to updating you on the performance of the Fat Pitch Financials Portfolio last month. If you haven’t been following along, the Fat Pitch Financials Portfolio is a paper port I created in the fall of 2004 on Marketocracy to track my value stock picks. To make it up to you, I’ll provide a quick update on the performance numbers for the end of February and then I’ll provide similar numbers for the end of March 2010.

As of the close of the market on February 26, 2010, the Fat Pitch Financials Port had a value of $1,248,266.02. That is down 1.03% since I last report on the Fat Pitch Financials Portfolio in January 2010. Of this amount, $152,614.90 was in cash and $1,095,651.12 was invested in stocks.

Returns as of February 26, 2010

RETURNS
Last Week -0.99%
Last Month -1.56%
Last 3 Months 6.27%
Last 6 Months 10.27%
Last 12 Months 75.94%
Last 2 Years -9.46%
Last 3 Years 2.59%
Last 5 Years 23.24%
Since Inception 24.48%
(Annualized) 4.11%
S&P500 RETURNS
Last Week -0.37%
Last Month 0.89%
Last 3 Months 1.70%
Last 6 Months 8.45%
Last 12 Months 50.00%
Last 2 Years -16.03%
Last 3 Years -15.57%
Last 5 Years 1.23%
Since Inception 9.46%
(Annualized) 1.68%
RETURNS VS S&P500
Last Week -0.62%
Last Month -2.45%
Last 3 Months 4.56%
Last 6 Months 1.82%
Last 12 Months 25.94%
Last 2 Years 6.57%
Last 3 Years 18.17%
Last 5 Years 22.01%
Since Inception 15.02%
(Annualized) 2.43%

Positions as of February 26, 2010

Symbol Price Shares Value Gains Current Return
SNS $342.08 134 $45,838.72 $13,514.11 41.81%
MSFT $28.67 8,220 $235,667.40 $43,480.48 21.68%
WEST $8.80 5,658 $49,790.40 $8,076.20 10.76%
BR $21.04 2,600 $54,704.00 $4,524.00 9.02%
BID $24.30 5,540 $134,622.00 $9,477.22 7.57%
EBAY $23.02 2,760 $63,535.20 $3,383.15 5.62%
DEST $22.62 6,710 $151,780.20 $3,074.86 2.07%
KFT $28.43 2,000 $56,860.00 ($3,238.60) -5.39%
LENS $3.90 8,792 $34,043.10 ($2,705.39) -5.85%
MHP $34.20 1,610 $55,062.00 ($15,056.70) -21.47%
WFC $2734 1,400 $38,276.00 ($10,514.60) -21.55%
WU $15.78 2,290 $36,136.20 ($13,807.33) -27.58%
USB $24.61 2,940 $72,353.40 ($27,729.20) -27.71%
PFE $17.55 2,010 $35,275.50 ($14,773.50) -29.52%
USG $13.48 1,080 $14,558.40 ($35,717.76) -71.04%
PRXI $1.26 13,610 $17,148.60 ($42,971.23) -71.48%

On February 19, 2010, I sold 112 shares of  Western Sizzlin Corp (WEST) for $8.96 per share for a net proceeds of $1,003.58. I was hoping to sell my entire holdings at $9.00 but the Marketocracy order filling volume requirements prevented that from happening. The main reason I wanted to sell these shares of Western Sizzlin was because the company had announced that these shares would be converted to debentures as part of the merger with Steak N Shake (SNS). I was unsure that Marketocracy would be able to track the debentures, so I decided for tracking purposes it might be best to sell this position in this portfolio. That didn’t happen, so it will be interesting to see how Marketocracy will handle this.

March 2010 Update

As of the close of the market on March 31, 2010, the Fat Pitch Financials Port had a value of $1,355,298.57. That’s up an amazing 8.57% over the past month! The Fat Pitch Financials Port held $1,202,522.81 in stocks and $152,775.76 in cash at the end of March.

Over the past twelve months, the portfolio was up an amazing 78.09%. Since the portfolio’s inception (September 2004), the portfolio has returned 35.14%. On an annualized basis, the return is a respectable 5.60%.

Current Positions as of March 31, 2010

Symbol Name Price Portion Of Fund Shares Held Value
MSFT MICROSOFT CORP $29.29 17.80% 8,220 $240,743.25
USG USG CORP $17.16 1.40% 1,080 $18,532.80
WU Western Union Co/The $16.96 2.90% 2,290 $38,838.40
PFE PFIZER INC $17.15 2.50% 2,010 $34,471.50
BR Broadridge Financial Solution $21.38 4.10% 2,600 $55,588.00
USB U.S. Bancorp $25.88 5.60% 2,940 $76,087.20
DEST Destination Maternity Corp $25.66 12.70% 6,710 $172,178.60
LENS CONCORD CAMERA $3.96 2.60% 8,729 $34,566.84
WEST Western Sizzilin Corp $8.98 3.70% 5,658 $50,808.84
MHP MCGRAW-HILL COMPANIES $35.65 4.20% 1,610 $57,396.50
PRXI Premier Exhibitions Inc $1.58 1.60% 13,610 $21,503.80
KFT Kraft Foods Inc $30.24 4.50% 2,000 $60,480.00
BID Sotheby’s $31.09 12.70% 5,540 $172,238.60
EBAY EBAY INC $26.97 5.50% 2,760 $74,430.30
WFC WELLS FARGO $31.12 3.20% 1,400 $43,568.00
SNS THE STEAK N SHAKE COMPANY $381.27 3.80% 134 $51,090.18

Fat Pitch Financials Portfolio One Year Price History (as of April 6, 2010)

Fat Pitch Financials Portfolio One Year Price History

As you can see from the graph above, over the past year the Fat Pitch Financials Port has been outperforming the major indexes. I hope I can continue to maintain this trend throughout 2010. No new trades occurred in March, but given the dramatic price rebound the market has experienced over the past 18-months, I am starting to consider selling some positions.

DisclosureI own shares of Western Sizzlin (WEST), Steak N Shake (SNS), Broadridge Financial Solutions (BR), Microsoft (MSFT), Western Union (WU), Kraft Foods (KFT), eBay (EBAY), Concord Camera (LENS), McGraw-Hill (MHP), Destination Maternity (DEST), Sotheby’s (BID), Pfizer (PFE), US Bancorp (USB), Wells Fargo (WFC), USG (USG), and Premier Exhibitions (PRXI).

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