HTO portfolio: June 1-15, Rebound
My High Turnover Portfolio (approx 26 stocks with an average hold of 3 months) did very well the first half of June, beating its benchmark (weighted VT/VTI) by +1.89% to -0.39%. It was especially gratifying to see the consistent outperformance on down days as historically my portfolios have been high beta- outperforming on up days and underperforming on down days.
Since inception (March 1) I am up 9.74% vs +6.52% for my benchmark.
I continue to favor health and financials and also added several automobile related stocks (VC, STRT and TM) this month (I have held SMP since the beginning). In addition I added DTEGY, CSRE, CPA and ICLR so 4 of my 7 adds were from outside the US. Up to this point US stocks have been outperforming foreign stocks and that has been true in the HTO portfolio as well. But I buy where I find the best values and sometimes that leads to a contrarian stance.
I sold HMNF, IP, EAC and PTP. I took a 16% loss on EAC but it has plunged another 12% since I sold it. Another 16% loss on HMNF, the worst of my bank holdings but I gained 16% on PTP and broke even on IP.
The portfolio is now back up to 26 stocks. In addition to the new additions I still hold (listed from most recent to oldest):
PRSC, AIQ, FBRC, VIPS, PRXL, EXH, AMRI, PULB, CRPJY, TLSYY, WX, MX, ADUS, MPC, AHS, LCI, FIBK, SMP, WHR.
CRPJY ("crap-joy"!) is down 27% on very thin trading. I'll probably end up shifting it over to my long-term portfolio and wait for it to come back. MPC, VIPS, TLSYY and PULB are down 6-9% each.
11 of my holdings are up 11% or more, led by SMP, LCI and ADUS, up 45, 52 & 67% respectively.