Equity Portfolio Activity for the week ended May 6, 2016

Equity Portfolio as of May 6, 2016

Commentary: The market is providing some indications of value opportunities which caused me to reduce my net overall short hedge position (reduced my E-Mini S&P 500 short, but also added to my Pro-Shares Ultra Short). Having said this, I am troubled by the price action of the broader equities that showed greater weakness than the indexes would imply. Cross-currents are very evident and as a result, for me, this is a very unsteady stock market. In regard to opportunities that I acted upon, price declines made some equities more attractive to me. Small bite sized long trades were the order of the week, and I remain ready to pause in buying and to more aggressively short the overall market. As always, patience is the key here and it will dominate my attitude as I watch each and every move in the upcoming days ahead.
Good Luck and have a great week!

New Additions
1. Google
2. IROBOT
3. Square Inc

Increase in Holdings
1. Apple
2. Brookfield Total Return
3. Endo Int’l
4. Frontline
5. Golar LNG
6. Hecla Mining
7. Matson Inc
8. Pro-Shares Ultra Short
9. Twitter
10. Yahoo

Complete Dispositions
1. Great British Pound Short Position

Partial Decrease in Holdings
1. Alibaba
2. Olin Corp
3. Reaves Utility Income Fund

Overall Equity Portfolio holdings
1. Alamos Gold
2. Apple – Increased position
3. ASA
4. Arm Holdings
5. Alibaba – Reduced position
6. BB&T Corp
7. Brocade
8. Brookfield Total Return – Increased position
9. Chevron
10. Con Ed
11. Costamare
12. CISCO
13. Corning
14. Disney
15. Eastman Chemical
16. Endo Int’l – Increased position
17. Ericsson
18. First Solar
19. Ford
20. Frontline – Increased position
21. General Electric
22. GLD
23. Golar LNG – Increased position
24. Google (Alphabet) – New Position
25. GreatBatch
26. Greenbrier
27. Halliburton
28. Hecla Mining – Increased position
29. Hershey
30. Ingredion
31. IROBOT – New position
32. JP Morgan
33. Matson – Increased position
34. Microsoft
35. MTN Group
36. New Gold
37. Nokia
38. Nordic American Tanker
39. Norfolk Southern
40. Nucor
41. Olin Corp – Reduced position
42. PayPal
43. Phillips 66
44. Pro Shares Ultra Short – Increased position
45. Qualcomm
46. Reaves Utility Income Fund – Reduced position
47. Square Inc – New Position
48. Synaptics
49. Ten Cent Holdings
50. Travelers
51. Twitter – Increased position
52. Viacom
53. Wells Fargo
54. Yahoo – Increased position
55. Yum! Brands
56. 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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