Equity Portfolio Activity for the Week Ended July 8, 2016

Equity Portfolio as of July 8, 2016

Commentary: I must say this past week was frustrating and really has me scratching my head. Valuations are stretched and world news is troublesome. Yet the US market is advancing as if the crystal ball shows only good times to come. Do not ignore the upward momentum in this market.

From a valuation perspective I added to short positions, which all suffered during the week. Fortunately, Precious Metals continued to rally, as well as the core equity holdings. I decided to trim a bit of the Gold and Silver miners on Friday, and given some weak price action in the early part of the week I added more First Solar and Synaptics. Celgene has been on my list for quite some time and I added it as well. I may reduce short exposure in this upcoming week, or switch the nature of positions to limit downside results. Check on the Daily action section of this website for real time updates to see whether I make the changes I am thinking about.

Good Luck and have a great week!

New Additions

1. Celgene

Increase in Holdings

1. First Solar
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. Synaptics

Complete Dispositions

1. None

Partial Decrease in Holdings

1. Hecla Mining
2. New Gold

Overall Equity Portfolio holdings

1. Alamos Gold
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
9. Celgene – Opened New Position
10. Chevron
11. Con Ed
13. Corning
14. Daktronics
15. Disney
16. Eastman Chemical
17. Endo Int’l
18. Ericsson
19. First Solar – Increased position
20. Ford
21. General Electric
22. Golar LNG
23. GreatBatch (now Integer Holdings Corp)
24. Greenbrier
25. Halliburton
26. Harmony Gold Mining
27. Hecla Mining – Reduced position
28. Hershey
29. Ingredion
31. Jabil Circuit
32. JP Morgan
33. JP Morgan Preferred D
34. Legg Mason
35. Matson
36. Microsoft
37. MTN Group
38. Mylan
39. Netflix July 15 Put Options
40. Netflix Short Put Options July 22 Expiration
41. New Gold – Reduced position
42. Noble Corp
43. Nokia
44. Nordic American Tanker
45. Norfolk Southern
46. Nucor
47. PayPal
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
56. Square Inc
57. Synaptics – Increased position
58. Ten Cent Holdings
59. Tessera Technologies
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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