May 2023 Long Short Portfolio Update

May 31, 2023 - 2:08 pm

May was a big month as we added a five new positions that have propelled returns ahead of the broader markets.  We have two short positions in Target and Advanced Auto Parts, and five longs.  Portfolio Beta is at 1.52, and we're now about 4% ahead of the Nasdaq's 32% YTD return.  Stellar performance and we expect outperformance in the near term, with a view that we'll get out of the AI positions upon a pullback.

Total Invested	$100,000
Beg Year Balance	$218,008
Current Value	$295,775
YTD Return	35.67%
Position	Weight	Entry Date	Shares	Entry Price	Current Price	Position Cost	Position Value	Gain/Loss %
CASH	19.9%						$58,845.55
CRM	15%	12/14/2022	200	$130.90	$223.38	$26,180.00	$44,676.00	70.6%
OKTA	8%	12/14/2022	250	$69.80	$90.90	$17,450.00	$22,725.00	30.2%
AI	20%	5/18/2023	1500	$26.82	$40.01	$40,230.00	$60,015.00	49.2%
NVDA	38%	5/18/2023	300	$316.78	$378.34	$95,034.00	$113,502.00	19.4%
PLTR	12%	5/18/2023	2500	$11.74	$14.71	$29,350.00	$36,775.00	25.3%
TGT	-9%	5/18/2023	-200	$154.18	$130.93	($30,836.00)	($26,186.00)	15.1%
AAP	-5%	5/18/2023	-200	$121.48	$72.89	($24,296.00)	($14,578.00)	40.0%
TOTAL	100%					Total Value	$295,774.55
						YTD Return	$77,766.62	35.67%
	Short Position					S&P Year to Date Return		10.14%
						Dow Year to Date Return		0.27%
						Nasdaq Year to Date Return		31.78%