Close three position and add 5 new positions

Close three position and add 5 new positions

May 18, 2023 - 1:32 pm

Our Long/Short Portoflio has lagged the S&P and Nasdaq YTD, and we're closing our position in FCX, NEM and QFIN and adding 5 new positions.  Similar to our Long Only portfolio we're adding 3 AI names: AI, NVDA and PLTR, and shorting two new positions in TGT and AAP.  Both short stocks have been dropping and are under all of their moving averages that we track, and likely to break down further.  We also see the boom in the used car market as largely over thus pulling back auto part stocks along with car prices.

Here is the portfolio before the trades:

Total Invested $100,000              
Beg Year Balance $218,008              
Current Value $231,289              
YTD Return 6.09%              
                 
Position Weight Entry Date Shares Entry
Price
Current
Price
Position Cost Position Value Gain/Loss %
CASH 56.2%           $130,045.43  
FCX 4% 2/22/2021 259 $38.58 $35.68 $9,992.22 $9,241.12 -7.5%
CRM 18% 12/14/2022 200 $130.90 $213.32 $26,180.00 $42,664.00 63.0%
OKTA 9% 12/14/2022 250 $69.80 $81.19 $17,450.00 $20,297.50 16.3%
QFIN 7% 12/14/2022 1000 $18.00 $16.06 $18,000.00 $16,060.00 -10.8%
NEM 6% 12/14/2022 300 $46.90 $43.27 $14,070.00 $12,981.00 7.7%
                 
                 
                 
                 
                 
TOTAL 100%         Total Value $231,289.05  
            YTD Return $13,281.12 6.09%

 

Here it is after the trades were made removing FCX, QFIN and NEM, and adding the 5 new positions: AI, NVDA, PLTR, and short TGT and AAP.

Total Invested $100,000              
Beg Year Balance $218,008              
Current Value $231,289              
YTD Return 6.09%              
                 
Position Weight Entry Date Shares Entry
Price
Current
Price
Position Cost Position Value Gain/Loss %
CASH 25.4%           $58,845.55  
CRM 18% 12/14/2022 200 $130.90 $213.32 $26,180.00 $42,664.00 63.0%
OKTA 9% 12/14/2022 250 $69.80 $81.19 $17,450.00 $20,297.50 16.3%
AI 17% 5/18/2023 1500 $26.82 $26.82 $40,230.00 $40,230.00 0.0%
NVDA 41% 5/18/2023 300 $316.78 $316.78 $95,034.00 $95,034.00 0.0%
PLTR 13% 5/18/2023 2500 $11.74 $11.74 $29,350.00 $29,350.00 0.0%
TGT -13% 5/18/2023 -200 $154.18 $154.18 ($30,836.00) ($30,836.00) 0.0%
AAP -11% 5/18/2023 -200 $121.48 $121.48 ($24,296.00) ($24,296.00) 0.0%
                 
                 
                 
TOTAL 100%         Total Value $231,289.05  
            YTD Return $13,281.12 6.09%