Long/Short Portfolio July 2021 Update

Long/Short Portfolio July 2021 Update

August 01, 2021 - 9:20 am

This portfolio returned 12.2% in the month of July vs 2.8% for the S&P 500 in the same time period.  Year to date we're up almost 53%, and outperforming the long only positions by ~3%. 

We remain 100% long with 2% cash with no trades in July.  The market uptrend still remains in tact, as we've bounced off of the 50 day moving average every time we've touched it. A crack in this streak will prompt us to add short positions to this mix, and until then we will likely rotate out of the losing positions in the next 1-2 months. 

Note that not actively trading these positions, and being patient with the winners like MRNA has been a great strategy.  It would have been easy to take profits on MRNA as we've seen the stock triple since we bought it, but patience and letting winners run has paid off very well. We have two positions in the red, we're ok with FCX down 1.2%, however we continue to be underwhelmed by PENN which has lagged all year.  Yes, we should have sold it earlier, and that will be our next trade as we make adjustments.

 

Total Invested $100,000              
Current Value $152,824              
Gain/Loss 52.82%              
                 
Position Weight Entry Date Shares Entry
Price
Current
Price
Position Cost Position Value Gain/Loss %
CASH 2%         $3,035.98 $3,035.98  
DKNG 3% 1/1/2021 106 $47.00 $48.50 $4,982.00 $5,141.00 3.2%
MSFT 12% 1/1/2021 67 $222.53 $284.91 $14,909.51 $19,088.97 28.0%
PENN 5% 1/1/2021 117 $85.26 $68.38 $9,975.42 $8,000.46 -19.8%
MRNA 22% 1/1/2021 93 $107.23 $353.60 $9,972.39 $32,884.80 229.8%
USO 8% 2/22/2021 242 $41.30 $50.66 $9,994.60 $12,259.72 22.7%
FCX 6% 2/22/2021 259 $38.58 $38.10 $9,992.22 $9,867.90 -1.2%
HMHC 24% 3/5/2021 3250 $6.14 $11.32 $19,955.00 $36,790.00 84.4%
VWAGY 17% 3/5/2021 776 $25.76 $33.19 $19,989.76 $25,755.21 28.8%
                 
                 
TOTAL 100%           $152,824.04 52.82%
                 
            S&P Year to Date Return 19.68%
  Short Position         Dow Year to Date Return 16.62%
            Nasdaq Year to Date Return 18.15%