Equity Portfolio Activity for the Week Ended July 22, 2016

Equity Portfolio as of July 22, 2016

Commentary: I have stripped down this portfolio to its bare necessities. It is streamlined for a market correction, with the expectation that new buying opportunities are best pursued in the future after a healthy market decline takes place. In anticipation of the decline I foresee, I have materially increased Put Options on the S&P 500, Volatility through the VIX ETF, shares sold short on Netflix, and a selected short play on Microsoft post their earnings release. Time will tell if these actions were correct.

The push higher in the market and the weakness in Gold and Silver have hurt my YTD performance as I write this, but that is a price I accept in the short term. It is my expectation that the best strategy at this time is to hold Precious Metal interests and Market short hedges.

Good Luck and have a great week!

New Additions

1. MSFT Bought Put Options
2. MSFT Sold Call Options

Increase in Holdings

1. NFLX Shares Sold Short
2. Proshares Ultra Short S&P 500
3. Proshares Ultra Short VIX
4. S&P E-Mini Short Futures Contract September Expiration
5. S&P July Put Options
6. S&P August Put Options
7. Bitcoin

Complete Dispositions

1. Bank of America
2. Bank of America Preferred
3. Celgene
4. Corning
5. Daktronics
6. Ericsson
7. Greenbrier
8. Integer Holdings
9. IRobot
10. Jabil Circuit
11. JP Morgan Preferred
12. Legg Mason
13. MTN Group
14. Matson
15. Mylan
16. Netflix Put Options
17. Noble Corp
18. Nokia
19. Nucor
20. PayPal
21. Sarapeta Therapeutics
22. Square
23. TenCent Holdings
24. Tessera Technologies

Partial Decrease in Holdings

1. Brocade Communications
2. ENDO
3. First Solar
4. Golar LNG
5. Hecla Mining
6. Microsoft
7. New Gold
8. Synaptics

Overall Equity Portfolio holdings

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

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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