My 2020 Portfolio Performance YTD as of
Jan +23.79%
Feb +26.86%
Mar +10.12%
Apr +31.49%
May +62.13%
Jun +118.30%
Jul +153.87%
Aug +210.88% (actually, as of midday 9/3)
My Current Allocations
Ticker Curr% Buy/S Mo Ch YTD Ch
FSLY 13.4% -6% -10.2% 331.6%
ZM 12.4% -45% 57.9% 489.3%
CRWD 12.3% -10% 17.5% 166.8%
NET 9.0% NEW -12.8% #DIV/0!
PTON 5.3% 120% 25.7% #DIV/0!
AYX 4.4% 0% -31.1% 20.8%
ETSY 2.5% NEW 1.1% 170.2%
LLNW 1.1% 100% -13.2% 33.3%
ROKU 0.9% -91% 12.4% 30.1%
TCDA 0.6% 87% -13.8% #DIV/0!
PD 0.0% -100% -15.6% 9.9%
LEAPs 4.8%
other options 0.0%
cash 33.4%
New 2020
January - PINS
February - none
March - OKTA
April - ROKU
May - LVGO (again), WORK, FSLY, PLAN
June - DOCU, LLNW
July - PD, PTON, TCDA
August - NET, ETSY
Sold 2020
January - none
February - HUBS
March - SQ, LVGO, MDB
April - OKTA
May - PLAN, PINS, SMAR, DDOG
June - ESTC, WORK
July - DOCU, LVGO
August - PD
Why I did what I did this month
BOUGHT
NET - I listened to their conference call and was just about blown away. They are doing a ton with their edge network – they really seem to see it as a platform to do everything (CDN, security, platform for developers, etc etc etc). Shoutout to WPR101 who did a fantastic writeup: https://discussion.fool.com/cloudflare-conference-call-notes-345… I took a medium sized position immediately and have added to it several times, including today (9/3).
ETSY - Total blowout but I’m not sure how sustainable so this will probably remain a small position for the foreseeable future. https://discussion.fool.com/etsy-q2-blowout-34594594.aspx
SOLD
ROKU - I actually have a tiny ROKU position remaining, and may keep it until 2021 because it’s in a taxable account. I includ ROKU in this “sold” section because it was a large position at the beginning of August, based on their dominant growth. But because of their advertising-based model, that growth slowed a ton. I think it will bounce back a little, but I’ve become aware that ROKU might not control their fate as much as I’d like. I don’t like that they’re having problems getting some streaming services on board. I think they’re holding out for what they call a win-win deal, but if it were clean and simple, the ROI would be obvious to the streaming services who are holding out. Long story short, too complicated for me.
PD - This was a little dalliance. The stock went up for absolutely no reason (just a nonsensical run up before their earnings report) and I sold some. Then they reported, it went back down, and I sold the rest. Timing could have been better, but whatever.
ADDED TO or TRIMMED
ZM - I actually trimmed ZM quite a bit. Look, the quarter was other-worldly, but that’s what I expected. The stock basically doubled from around $230 on Aug 11 to around $460 on Sep 1. It’s a winner, and I’ll hold a large position going forward, but this was a great time to trim.
CRWD - Just trimmed a little before earnings on the crazy run up. It went from $95 on Aug 11 to $158 premarket on 9/2. Wow. Didn’t trim much, though, because this was before the report came out. The stock actually went down (ha!) on a fantastic report, so I bought some back this morning (9/3).
PTON - I more than doubled this position in August, because I think they’ve got huge momentum at their backs. Sure, there is a hardware component, but even those margins are amazing. It won’t be a top position for me, but I think in the next few quarters they will dazzle.
LLNW - Doubled it, but it’s still just “stay on the radar” size.
Wrapping Up
My cash position grew to levels I’d rather it didn’t, as I trimmed some very large positions, almost sold out of ROKU, and closed short term options positions. The thing is, I don’t have a great idea of what to do with the cash. I’m happy with my position sizes. I don’t want to increase the small positions more, because I’m not that confident. And I don’t want to make any of the large positions into crazy 20% allocations right now…because they aren’t what I would call underpriced at the moment. I’m happy with them but I feel they’re large enough. So I’ll hold some cash. It’s not the end of the world, but obviously I’d like to deploy it, so I’ll keep looking.
Stay long, stay safe, be kind, be happy.
Bear
“Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn’t … pays it.” - Attributed to Albert Einstein
Previous Month Summaries
Dec 2016 (contains links to all 2016 monthly posts): http://discussion.fool.com/bear39s-portfolio-at-the-end-of-2016-…
Dec 2017 (contains links to all 2017 monthly posts): http://discussion.fool.com/bear39s-portfolio-through-dec-2017-32…
Dec 2018 (contains links to all 2018 monthly posts): https://discussion.fool.com/bear39s-portfolio-through-dec-2018-3…
Dec 2019 (contains links to all 2019 monthly posts): https://discussion.fool.com/bear39s-portfolio-through-dec-2019-3…
Jan 2020: https://discussion.fool.com/bear39s-portfolio-through-jan-2020-3…
Feb 2020: https://discussion.fool.com/bear39s-portfolio-through-feb-2020-3…
Mar 2020: https://discussion.fool.com/bear39s-portfolio-through-mar-2020-3…
Apr 2020: https://discussion.fool.com/bear39s-portfolio-through-apr-2020-3…
May 2020: https://discussion.fool.com/bear39s-portfolio-through-may-2020-3…
Jun 2020: https://discussion.fool.com/bear39s-portfolio-through-jun-2020-3…
Jul 2020: https://discussion.fool.com/bear39s-portfolio-through-jul-2020-3…