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1/ End of June 2020 top holdings:
$AMZN 8.9% of portfolio
$PYPL 8.1%
$SWKS 6.7%
$MSFT 6.5%
$MA 6.2%
$FB 6.0%
$SQ 5.4%
$GOOGL 5.3%
$SHOP 5.1%
$ADBE 4.0%
$HD 3.5%
$DIS 3.1%
$MELI 2.7%
$EA 2.6%
$PAYC 2.5% https://twitter.com/Matt_Cochrane7/status/1245099604888166401
$AMZN 8.9% of portfolio
$PYPL 8.1%
$SWKS 6.7%
$MSFT 6.5%
$MA 6.2%
$FB 6.0%
$SQ 5.4%
$GOOGL 5.3%
$SHOP 5.1%
$ADBE 4.0%
$HD 3.5%
$DIS 3.1%
$MELI 2.7%
$EA 2.6%
$PAYC 2.5% https://twitter.com/Matt_Cochrane7/status/1245099604888166401
2/ Ideally, I start positions small and slowly build them out as my conviction and confidence grow. When I find great companies, I will add to them slowly over years. I think of this as time diversification. These positions are rarely sold.
3/ I do have a number of smaller, speculative positions that I try on for size and either 1) Discard if I don't like after period of time, or 2) Add to them until they grow into core positions.
4/ Remember, I can't share everything as I did previously because of my role with @7investing. Something I can share: This quarter I have made the following sells after holding all of these positions for several years:
$GPN
$JPM
$KMI
Here's why...
$GPN
$JPM
$KMI
Here's why...
5/ Why I sold $JPM - Banks are just too hard w/much depending on macro conditions outside of their control. I think JPM is a great bank but decided I wanted to avoid the entire sector (only exception being $HDB). Sold at almost break even after holding for several yrs.
6/ Why I sold $KMI - Honestly was just holding for sake of diversification. Originally purchased in 2014 in the high $30s (d'oh!) b/c I thought there was little downside and solid dividend growth ahead (double d'oh!). Knew little about the co (pipeline) and sector. Good riddance.
7/ Why I sold $GPN - This was a tough sell and I'm still not sure if it was the right decision. This is a good co, but after coming across some scathing reviews of its "software", I realized it was not quite what I thought it was. Did very well in this name though for several yrs
8/ These sells tightened my portfolio, reducing the positions in my portfolio to 31 companies. I want to reduce this further and am thinking about trimming or selling some names that are looking a bit steep. If I do, I'll share more in my next quarterly portfolio update.
9/ YTD performance: +19.7% vs. S&P -4%
1-yr performance: +31.2% vs. S&P +5.4%
3-yr performance: +104.6% vs. S&P +28%
1-yr performance: +31.2% vs. S&P +5.4%
3-yr performance: +104.6% vs. S&P +28%
