Equity Portfolio Activity for the week ended April 22, 2016

Equity Portfolio as of April 22, 2016

Commentary: This was a very uneventful week. I did not take any action in the markets for I saw nothing to buy at the current prices. I easily saw things to sell at these prices, but I did not sell as I believe I now reside at the lower threshold of my desired equity allocation. The individual price action as the week came to a close saw meaningful declines in some of the more notable names, and the drumbeat around investing for dividends vs price appreciation is louder than I have heard in a long-time. Given the price risk with equities, I do not advocate buying here, even if dividends offer a better return than fixed income. For me, that is a transient state and I would rather earn great dividends off of great buying opportunities than to chase dividends at any price. Be careful out there.
Good Luck and have a great week!

New Additions
1. None

Increase in Holdings
1. None

Complete Dispositions
1. None

Partial Decrease in Holdings
1. None

Overall Equity Portfolio holdings

1. Alamos Gold
2. ASA
3. Arm Holdings
4. Alibaba
5. BB&T Corp
6. Brocade
7. Brookfield Total Return
8. Chevron
9. Con Ed
10. Costamare
12. Corning
13. Disney
14. Eastman Chemical
15. Endo Int’l
16. Ericsson
17. First Solar
18. Ford
19. Frontline
20. General Electric
21. GLD
22. Golar LNG
23. GreatBatch
24. Greenbrier
25. Halliburton
26. Hecla Mining
27. Hershey
28. Ingredion
29. JP Morgan
30. Matson
31. Microsoft
32. MTN Group
33. New Gold
34. Nokia
35. Nordic American Tanker
36. Norfolk Southern
37. Nucor
38. Olin Corp
39. PayPal
40. Phillips 66
41. Qualcomm
42. Reaves Utility Income Fund
43. Synaptics
44. Ten Cent Holdings
45. Travelers
46. Twitter
47. Viacom
48. Wells Fargo
49. Yum! Brands
50. Zimmer Biomet Holdings

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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