Monthly update: May 2013

A very interesting month starting with the clamours of “sell in May and go away”. The pundits were proved wrong and S&P returned more than 2% during the month.

Owing to the market being at an all time high, I did not do a lot of value finding this month. Meanwhile, I sold a substantial amount of my holdings.

I sold out of Roche, Transocean, Applied Materials, and Vodafone. I reduced Tesco because of concerns about CFD fees. I reduced ABB, Hewlett-Packard,  and Alcoa. A summary of these is as follows.

Company Action Profit
Roche Closed Sfr 1772
Transocean Closed Sfr 163
AMAT Closed $798
Vodafone Closed £157
ABB Reduced $749
Alcoa Reduced -$16
Hewlett-Packard Reduced -$338
Tesco Reduced £144

I bought one new position – PostNL. They have been crushed by the TNT acquisition by UPS which did not succeed and pension liabilities – which has been taken care of. The stock traded for as low as €1.46 when their TNT holding is worth around €2.5 per share. There is a risk of more additions to pension plans but it does not pose a significant risk to the balance sheet.

I started by buying 500 shares. It was a placeholder until I could buy a lot more. Unfortunately, the stock took off after only 2 days and I sit on a 15% profit. I hope it will come down soon – in which case I will make a bigger position at lower prices.

Company Comments
PostNL Added 500@€1.85
Eur 3000@Sfr1.233
Pound 5000@Sfr1.46

Adding it all together.

Item Value
Dividend Sfr 332.14
Withholding – Sfr 53.24
Other fee – Sfr 6
Interest – Sfr 40
Capital gains Sfr 3468.72
Total Sfr 3701.62

The monthly net was quite high. But remember that it has been the result of my Roche investment – which I bought nearly 3 years ago !

My portfolio composition is as follows.

Value of portfolio (31 May) Sfr 103,399
 Cash Sfr 55,531

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