I run a concentrated value investing fund. I typically only invest in equities and rarely will buy options or debt. Options can give you over-sized returns in a short period, although I think with investing it is difficult to time the return on equities. I typically hold 10-15 shares and I’m not afraid to have most of my funds concentrated in a select few.

My current holdings (in no particular order):

– Oroco Resources (OCO)
– Emerita Resource (EMO)
– Voxtur Analytics (VXTR)
– Glass House Group (GLAS)
– Eastside Distilling
– Mindset Wellness Fund (cannabis focused)
– Poseidon Cannabis ETF
– Millennium Sustainable Ventures (MILC)
– Undisclosed position (private company)

19 responses to “Portfolio”

  1. any comments on ATPG? are u guys adding position at $9?

    more clarity have been issued in the PR this week.

    • As expected, the MC941 #3 is going as planned. ATP is a good buying opportunity at current prices. I would recommend building a position slowly, leave some powder incase it gets even cheaper.

  2. Sun Pharmaceutical announced on December 4, 2010 that they will launch a tender offer for remaining Caraco shares at $4.75 per share.

    I read your article in Seeking Alpha published 8/4/09 in which you commented that Sun would pay double digits to acquire the shares not already owned. Currently, the premium is a measley 5% over Friday’s close. Do you think Sun will be forced to raise the offer based on the current financial position of Caraco?

    • I think the Sun Pharma offer is extremely low. When was the last time you heard that an acquirer was giving a generous 5% premium over the closing price. This is basically an attempt to steal the company. I will be contacting the independent board members of CPD to discuss this offer. I think CPD should demand a higher price or decline the going private idea.

      • It will be interesting to see how the Sun installed directors on Caraco’s board react. 4 of the 7 directors are Sun executives. Media exposure on this is imperative. I doubt Sun wishes anymore negative press in the U.S. market.

  3. What do you think about the new insider buying at HEK? Would you buy the stock at this price? What is your price target?

    Thanks for your help. I enjoy all of your work.

    Bill Craig

    • I am extremely bullish in HEK’s future prospects. I think the company could be worth multi-billions in 3-5 yrs. I was a buyer early in the year, I regret not buying more. I would like to buy more but would wait for any pullback.

  4. Greetings. I have recently started following your blog and am fascinated by your annualized growth rate. I am trying to learn your methodology and appreciate your regular updates. Do you use any formula for position sizing? I mean do you try to keep a single position within certain percentage of your overall portfolio? Thanks

    • I don’t have a formula for position sizing. I like the 10% positioning but I go based on how comfortable I feel with the risk associated with each position. I tend to allocate more as the company executes, so it might start with 5-7% position and then it will increase as the company executes and the risk drops. Right now Oroco is an absurd sized position because it has grown 30x and I’ve added more as management has executed. But Oroco’s position is starting to come down as I allocate to other ideas and other ideas are starting to move much faster than Oroco.

      I think you want to size positions based on the risk and how comfortable you feel with the risk. I don’t believe in set rules (max 5% position or max 10% position or start trimming once a position gets to 20% of portfolio). I think you want your capital allocated to the best idea you have, accounting for both upside and the risks.

      • buy and dca in all these

        – Oroco Resources (OCO)
        – Emerita Resource (EMO)
        – Voxtur Analytics (VXTR)
        – AltiGen Communications (ATGN)
        – MIND Technology (MIND)
        – Techprecision (TPCS)
        – Glass House Group (GLAS)

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