Equity Activity for the Week Ended June 3, 2016

Equity Portfolio as of June 3, 2016

Commentary: The market churned this week without making much progress up or down. There were strong moves lower that reversed during each of the days the declines occurred. It was a week of being patient. As it churned, I rated a number of equities and found a few that rose to the top. I planned to add them after a market pull-back but after some thought decided to nibble at each to establish them in the portfolio for the long-term. I also added meaningfully on Thursday to the gold and silver miners in anticipation of a rise in the physical metals. That move was rewarded on Friday. On the short side, I added strategically to the hedges in place for the perceived risk of a market pull-back in reaction to its over-valued nature and the weak economic data that populates our current environment. A net gain for the week was realized largely driven by the rise in the price of gold.

Good Luck and have a great week!

New Additions

1. Daktronics
2. Jabil Circuit
3. Legg Mason
4. Noble Corp
5. Sarepta Therapeutics
6. S&P 500 July Put options
7. Tessera Technologies
8. Tetra Technologies

Increase in Holdings

1. Alamos Gold
2. Brookfield Total Return
3. Hecla Mining
4. New Gold Inc
5. Proshares UltraPro Short S&P 500
6. Proshares Ultra VIX Short

Complete Dispositions

1. Yahoo!
2. Zimmer Biomet Holdings

Partial Decrease in Holdings

1. Synaptics

Overall Equity Portfolio holdings

1. Alamos Gold – Increased position
2. ASA
3. Arm Holdings
4. Bank of America
5. Bank of America Preferred C
6. BB&T Corp
7. Brocade
8. Brookfield Total Return – Increased position
9. Chevron
10. Con Ed
12. Corning
13. Daktronics – Opened New Position
14. Disney
15. Eastman Chemical
16. Endo Int’l
17. Ericsson
18. First Solar
19. Ford
20. General Electric
21. GLD
22. Golar LNG
23. GreatBatch
24. Greenbrier
25. Halliburton
26. Hecla Mining – Increased position
27. Hershey
28. Ingredion
30. Jabil Circuit – Opened New Position
31. JP Morgan
32. JP Morgan Preferred D
33. Legg Mason – Opened New Position
34. Matson
35. Microsoft
36. MTN Group
37. New Gold – Increased position
38. Noble Corp – Opened New Position
39. Nokia
40. Nordic American Tanker
41. Norfolk Southern
42. Nucor
43. PayPal
44. Phillips 66
45. Pro Shares Ultra Short – Increased position
46. Pro Shares Ultra Vix Short – Increased position
47. Qualcomm
48. Reaves Utility Income Fund
49. S&P E-mini short futures
50. S&P 500 July Put Options – Opened New position
51. Sarepta Therapeutics – Opened New position
52. Square Inc
53. Synaptics – Reduced position
54. Ten Cent Holdings
55. Tessera Technologies – Opened New position
56. Tetra Technologies – Opened New position
57. Travelers
58. Twitter
59. Viacom
60. Wells Fargo
61. Yahoo – Closed position
62. Yum! Brands
63. Zimmer Biomet Holdings – Closed position

Author: Thomas Connolly

Tom possesses a rich and diverse background that includes deep investing experience, senior corporate executive positions, and roles as a Regional Managing Partner and Global Industry Leader within Ernst & Young. He has advised executives on some of the largest acquisitions and dispositions in the Media and Entertainment industry, including clients such as Comcast, Citibank, Sony, Dalian Wanda and Publicis. Tom is a Certified Public Accountant with a Masters Degree from Columbia University. His skills are further accompanied by a personal passion for the study of economic trends and evolving market dynamics.

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