02/18 - 02/20
Processing what is occurring at the political level, I’m feeling more than a little uneasy. It is tough making investment decisions, with all the larger decisions on employee firings or layoffs, and the cuts to programs e.g. CFPB, that helped everyday people. Walmart - yes, another negative
Still, decisions have to be made.
- Thought I had caught VERI on a lower point - 02/18. Not.
- Opted for more VERI on 02/19
- Taxable ac: Even with the bounce, decided I wanted HIMS
- ASC exited the port
- SNOW exited the port
- UPS position got trimmed
- Monetized LULU in Roth ac
- Taxable ac: BEN exits
- Closed out HAFN in Roth ac
- FLNG retreating - Grrr!
02/21
“inner brain” was on the mark yesterday. Nasty whack today, that impacted more than a few holdings.
Major hit to HIMS, big hits to QCOM & BROS
On the news,
added to QCOM, YMAG, HIMS in taxable ac, COHR nibble in Roth ac
02/25
Political developments really having an impact on my feelings on various stocks. Good bounces are making me seriously consider position trims - true with some BROS, most LULU, and some BRK-B. Then again, nasty plunges are also inviting. Added to HIMS in Roth ac, after plunge. INSW has been less of a plunge, and more of a meandering downward drop. Added to Roth ac stake. Feeling okay about resetting my Roth ac INSW basis. Nibbled on COHR - but perhaps too early.
02/27
I didn’t expect so many shipping names I own to be reporting today.
BWLP, HAFN, INSW, CLCO (holding in Jan 2025) all reported today.
Also, marine LNG infrastructure entity GLNG also reported.
BWLP - decent TCE for its vessels, Q4 payout decent @ 42c/sh, debt did increase (due to Avance Gas VLGC acquisition)
HAFN - reasonable excess cash. But most of that was allocated to share buyback. Div trimmed to 2.5c/sh. Personally, wasn’t too impressed with the scale of the buyback
INSW - Small paired transaction was a little surprising, lots of unencumbered vessels, 70c div was a slight surprise (I figured 60c - 65c)
Shares got clobbered intraday.
CLCO - My sell in early 2025 is looking good now. CLCO affected by vessels trading spot (including one of its two newbuilds) - no div
Rough day across the port with NVDA results from prior day impacting both NVDA and other related tech names. Closed out LRCX and ENTG today. Also, trimmed DLTR
Golar LNG (GLNG) also announced results on 02/27/25. The company had recently announced the sale of its last LNG vessel, Golar Arctic. I thought the price was on the lower side. In the earnings release the company indicated that they were selling one investment - Avenir (the LNG bunkering entity). GLNG also indicated that FLNG Gimi was closer to COD, or when the proper earning cashflow begins to accrue. Looks like it will potentially be in Q2 2025 - about a year behind schedule.
FRO reported Q4 2024 results. Not fantastic, but decent. Lots of debt refinanced, and another Suezmax sold. Some riskier aspect - another sale & leaseback transaction where FRO opted to pull more cash. Then again, the debt might be cheaper than JF’s line-of-credit financing (there was around $70M left)
As noted, what is occurring in the political realm is bothering me some. My cash position is building up. I can say I’m open to investing, but my investing universe seems somewhat limited at this time. Small nibbles with HIMS earlier in the week, more INSW today
03/03 - 03/05
Some trading
Taxable ac: More ZIM, nibble NU, More HIMS
Roth ac: More COHR, More BWLP
03/06
Just commenting here as a marker. Although the overall self-managed had pulled back, I was rolling with the punches thru 02/28. This week, there has been a lot more shakiness in my stance. In that vein, cycled out of WU even though shares are still not ex-div. HIMS, COHR, BROS, NVDA, NVDY whacks have not been pleasant.
03/07
Acknowledgement that I am concerned about the market - on QCOM’s bounce, sold about half of my Roth ac QCOM stake. Then cleared up DLTR remnant stake. Still like HIMS, so added to position there. Added a little to LULU.
After going thru the BWLP earnings call, I am cautiously optimistic about the company’s outlook. Though there is still the unknown of Trump administration decision on Chinese-built vessels at US ports. Plus, the market reaction to the decision (both prior and after).
After I closed out my WU stake on 03/06, shares bounced on 03/07. Bad timing 
I did nibble on NU (also in the financial sector). I could build up on NU as a fresh start financial pick.
Have been watching Venture Global (VG) shares get pummeled since their 2025 IPO. Decided to nibble yesterday. Shares tanked over 38% just this last week, so I decided to nibble. Sounds like VG export facilities will be an expensive effort (possibly made even more expensive by the new US administration). Speaking about LNG, have seen GLNG shares taken a ~ 16% hit this week. Not nice. I know GLNG sold out of their bunkering LNG investment. But, I took that to be an effort to monetize and focus on the FLNG side. Will have to go and parse the earnings call to see if there was any negative stuff.
Down probably 7 - 8% from highs over about 3 weeks. The urge to not hold somewhat uncertain ideas long term e.g. DLTR, WU, has come more to the forefront. Yesterday’s QCOM was also some of that. Although, with QCOM, I view more a trading opportunity
03/10 - 03/11
Seems like some of FUD (Fear, Uncertainty, Doubt) has set in. More U & D, less F.
- GCT dumped
- ARCO dumped
- Realized some BROS gains (taxable ac)
- Trimmed GLNG (taxable ac)
- Trimmed FLNG in Roth ac
- Tempted to drop HAFN, but decided to wait.
03/12
After the GLNG trim in various accounts is when I skimmed the GLNG transcript. Yes, lots going on for me, mind is pre-occupied with other stuff.
- GLNG mgmt did a decent job explaining the sale of the smaller assets (Avenir stake, LNG tanker sale).
[Seems like there is a timing aspect]
- Provided an update on the status of FLNG Gimi. Have gotten some gas liquefied from an FPSO. Expect to declare COD in Q2 2025. That’s one dependency. When project starts activity, the asset can likely be refinanced on better terms
- GLNG has so far invested $600M in the third FLNG asset. That’s the equity side. The work is being done at a CIMC Raffles, a different yard than the first two FLNG assets.
- GLNG have an option for a second Mark II vessel. Delivery is 2028, if they declare the option in 2025.
- Second dependency. GLNG need an interested party to declare a contract for the first Mark II i.e. the third GLNG FLNG asset
- Third dependency: What does a customer want? GLNG has vessel designs on three types - Mark I (FLNG Hilli, FLNG Gimi), Mark II (FLNG Fuji), and Mark III (would be a newbuild)
- Question was posed as to whether GLNG needed to secure an older vessel for the fourth FLNG. GLNG CEO said referred back to the other dependencies. But, he did say there are available vessel candidates for the first two design options.
- I was surprised at the backlog figure. Vaca Muerta appears to be a very important addition. But again, a majority of the backlog does not kick in till 2027 when the Argentina activity is supposed to start.
- No mention of the flare gas-to-LNG subsidiary. Hmm! Did I miss something?
Rebuilding the GLNG position is an option. There is a slice of taxable ac losses that might be negated. But, @ slightly over $100, the losses are not that significant.
03/17 - 03/21
Tried some stuff this week. No concise plans. Just small moves
- AAPL nibble in Roth ac
- TGT nibble in taxable ac
- NVDA nibble in Roth ac
- LULU nibble in Roth ac
- GLNG nibble in taxable
- FRO dump in taxable ac
- NVDY nibble in Roth ac
- BROS nibble in Roth ac
- COHR nibble in Roth ac
- BROS nibble in taxable ac
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