Not that it would have made a major difference, but I was away from home for much of Dec 2022. It is also possible not being around saved me from churning the port more than necessary. Will not really know.
Ok, onto the port.
#1 Major sectors remained the same - Shipping, Finance, Technology
Shipping - Oct/Nov - Reset GNK cost basis (washed shares), trimmed/washed ZIM (harvest losses), Trimmed GOGL (losses, gains), trimmed SBLK (losses, gains), nibbles on AMKBY, NAT - ended 16.47% Overall, quite pleased with the shipping basket - ended about -3%, but that’s prior to loss/gains offset and/or dividends. Just one of the two elements, flips the basket to positive. Overall, outperformed the index benchmarks by a wide %
Finance - abandoned the ETF basket build-up. Added to RA, BNS. Closed out tiny MS stake for a small gain. About 15% of basket
Technology - Added to VZ, GSM, AAPL, QCOM, another nice round-trip with SHOP, smaller gains with AMZN About 15% of basket
#2 The other bright star - the dividend basket. With the assistance of many shipping high yielders, it blew away the dividend target by a lot. Of course, the flip side to this, the carnage brought about by ZIM. Had wonderful ZIM gains, mostly in Roth ac, but the ZIM beatdown was bigger than massive, Overall, ZIM turned really bad by year-end. Because dry bulk shipping and container shipping have cooled off some, I am tempering expectations for the dividend basket in 2023. Then again, other high yielders e.g. IEP, RA could fill in, and make-up some.
#3 Opportunities to monetize
0-15% - Okay: ABBV, ABEV, SBLK, VALE, MS
15-30% - Good: ABEV3, AMZN, GOGL2, VALE, SBLK2
30%+ - Great: NMM, SHOP, GRIN, ABEV, GOGL2
#4 Realized losses
Only the bigger ones (> 8%)
Ugly: FLGT
Fugly: VATE*2, AI, BDRY
Realized a small loss on small TSLA nibble (holding on would have meant higher unrealized losses)
#5 ETF changes: Put the basket on pause as Q4 played out. Oct-Nov 2022: Closed out ARKF, trimmed BDRY and nibbled on QQQ
Will pickup again in 2023
#6 Negative surprises: A major beat-down played out as Q4 progressed. Some were already beaten up, and then took another
pounding during the Qtr e.g. ZIM, TSLA, GSM, VATE (has since rebounded some). To a lesser degree, the dry bulk shipping names
lost some ground
#7 Positive surprises: Fewer, but some. Closed out GRIN prior to the final TMI offer - $25.83/sh instead of waiting for
$26 (no biggie), trimmed NMM (great gains from first merger in early 2021). Monetized ABEV. subsequent sell-off allows for a nice
early 2023 bet
One newcomer in the Top 10 - #10 Bank of Nova Scotia (BNS), with GOGL dropping out
The Top 10
- Atlantica Sustainable Infrastructure (AY) - Utility - 6.46% Q3 6.28%
2 Qualcomm (QCOM) - Technology - 6.02% Q3 5.69% - Berkshire Hathaway (BRK.B) - Financial - 4.95% Q3 4.39%
- Apple, Inc (AAPL) - Technology - 3.89% Q3 3.50%
- Verizon (VZ) - Technology - 3.87% Q3 4.25%
- Icahn Partners (IEP) - Financial - 3.73% Q3 5.56%
- Flex LNG (FLNG) - Shipping - 2.95% Q3 2.95%
- Star Bulk Carriers - Shipping - 2.88% Q3 2.96%
- Real Assets (RA) - Financial - 2.79% Q3 2.75%
- Bank of Nova Scotia (BNS) - Financial 2.46% New to list
Tier 1: (1.07% - 2.28% positions)
GOGL - 2.28%, NMM, VEEV, PDT, PFE, ZIM, GSM, GNK, GSL, DIS, VATE
Tier 2 and Tier 3: Lots of smaller bets, each less than 1%
And, at the end of 2022, the final result was … slightly better than market (SPY) … -18.3%
Port was positive at Q1. Who knew the market would take such a nasty turn?