Fat Pitch Financials Portfolio May 2009 Update
The Fat Pitch Financials Portfolio has gained a bit more ground in May. The portfolio ended May 29, 2009 with a value of $946,732.78. That is up 1.9% since I last reported on Fat Pitch Financials Portfolio in April. Over the past six months, this portfolio has continued to outpace the S&P 500 and the Dow Jones Industrial Average. However, as you can see in the graph below, the NASDAQ has started to outperform the Fat Pitch Financials Port.
In terms of performance as of the close May 29, 2009, the Fat Pitch Financials Port was up 2.2% in May. The S&P 500 was up 5.5% over the same period. Over the last 12 months, the portfolio is still down 26.52%, but the S&P 500 was also down 32.47% over the same period. Finally, the portfolio is still down an annualized 1.22% since inception back in 2004, versus -2.30% for the S&P 500 over the same period of time.
Value: $946,732.78 Cash: $84,246.68 Stock Value: $862,486.10 Total Shares: 100,000 NAV: $9.47
Returns as of May 31, 2009
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I did not add any new positions in May. I did, however, begin to sell off my position in Concord Camera (LENS). The company is in the process of liquidating. Normally, I would wait for that process to come to completion, but I’m not sure if Marketocracy will properly account for the liquidation payouts after the shares stop trading. For tracking purposes, I decided my best bet would be to sell this position. Due to the volume trading restriction imposed by Marketocracy, it will probably take several weeks for this position to be sold off.
I still have $84,246.68 left in cash in this Marketocracy portfolio that originally started out with $1 million. If the current market recovery falters, I will likely become fully invested. A summary of my current positions in the Fat Pitch Financials Portfolio as of May 29, 2009 are presented in the table below.
| Symbol | Price | Shares | Value | Gains | Current Return |
|---|---|---|---|---|---|
| PAC | $21.07 | 2,460 | $51,832.20 | $1,943.89 | 3.90% |
| WEST | $13.02 | 5,770 | $75,125.40 | $82.02 | 0.11% |
| MSFT | $20.89 | 8,220 | $171,715.80 | ($20,471.12) | -10.21% |
| KFT | $26.11 | 2,000 | $52,220.00 | ($7,878.60) | -13.11% |
| BR | $16.56 | 2,600 | $43,056.00 | ($7,124.00) | -14.20% |
| WU | $17.63 | 2,290 | $40,372.70 | ($9,570.83) | -19.12% |
| EBAY | $17.62 | 2,760 | $48,631.20 | ($11,520.85) | -19.15% |
| LENS | $2.85 | 12,140 | $34,599.00 | ($11,644.69) | -25.18% |
| WFC | $25.50 | 1,400 | $35,700.00 | ($13,090.60) | -26.83% |
| MHP | $30.09 | 1,610 | $48,444.90 | ($21,673.80) | -30.91% |
| DEST | $13.80 | 6,710 | $92,598.00 | ($56,107.34) | -37.73% |
| PFE | $15.19 | 2,010 | $30,531.90 | ($19,517.10) | -39.00% |
| USB | $19.20 | 2,940 | $56,448.00 | ($43,634.60) | -43.60% |
| BID | $10.60 | 5,540 | $58,724.00 | ($66,420.78) | -53.08% |
| USG | $12.00 | 1,080 | $12,960.00 | ($37,316.16) | -74.22% |
| PRXI | $0.70 | 13,610 | $9,527.00 | ($50,592.83) | -84.15% |
Disclosure: I own shares of Western Sizzlin (WEST), Grupo Aeroportuario del Pacifico (PAC), 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), USG (USG), and Premier Exhibitions (PRXI).
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