We purchased Navteq (NVT) at $73.33 yesterday. The stock is a low risk arbitration play as Nokia (NOK) is acquiring Navteq at $78 per share cash. The deal is awaiting European regulatory approval. To raise cash for this purchase, we sold Fannie Mae (FNM) at a large short-term loss. Fannie Mae and the rest of the financials with exposure to mortgages should rebound at some point but it is difficult to time the turnaround. We lost significant money last year on Bank of Ireland (IRE) and selected Fannie Mae at $40 for SINLetter’s stock contest. We failed to time the entry again with our purchase of Fannie Mae (FNM) at $30.70 on 2/15/2008. Below are our updated stock positions:
Stock | Buy Date | Buy Price | Current Price | Current % Of Portfolio | Unrealized % Return | Current Yield |
Philip Morris (MO) | 1/4/2005 | 46.54 | 74.74 | 10.59 | 60.59 | 3.90 |
Kraft Foods (KFT) | 1/4/2005 | 21.11 | 30.71 | 3.00 | 46.02 | 3.30 |
Plum Creek Timber (PCL) | 5/12/2005 | 35.5 | 38.47 | 8.18 | 8.36 | 3.60 |
Pfizer (PFE) | 2/6/2006 | 25.15 | 21.15 | 5.99 | (15.92) | 5.60 |
ICICI Bank (IBN) | 5/18/2006 | 27.57 | 41.23 | 8.76 | 49.53 | 0.80 |
Taiwan Semi (TSM) | 7/27/2006 | 8.71 | 9.80 | 7.07 | 14.73 | 3.60 |
Advantage Energy Fund (AAV) | 11/2/2006 | 11.22 | 10.77 | 4.96 | (4.05) | 16.80 |
SunTech Power (STP) | 3/14/2007 | 36.73 | 45 | 4.54 | (12.68) | None |
Central Europe & Russia Fund (CEE) | 6/28/2007 | 51.5 | 45.53 | 6.45 | (10.78) | 17.90 |
Patni Computers (PTI) | 8/10/2007 | 20.85 | 10.74 | 3.80 | (48.53) | 0.80 |
Itron Inc. (ITRI) | 11/07/2007 | 85.01 | 87.16 | 6.17 | (2.41) | None |
Anthracite (AHR) | 11/09/2007 | 7.97 | 5.27 | 3.37 | (33.88) | 15.60 |
ClickSoftware (CKSW) | 11/09/2007 | 4.61 | 2.55 | 1.81 | (44.68) | None |
Harvest Energy (HTE) | 11/28/2007 | 21.01 | 22.83 | 6.47 | 8.62 | 16.30 |
iRobot (IRBT) | 12/18/2007 | 18.65 | 19.03 | 4.38 | 2.03 | None |
MCG Capital (MCGC) | 12/21/2007 | 11.86 | 10.20 | 4.34 | (13.97) | 14.00 |
LDK Solar (LDK) | 01/22/2008 | 30.49 | 21.50 | 4.57 | (29.49) | None |
Navteq (NVT) | 03/10/2008 | 73.33 | 73.09 | 5.18 | (0.33) | 4.76 |
Cash |
|
|
| 0.73 |
|
|
Total Portfolio |
|
|
|
| (2.2) |
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- For SunTech Power (STP), we wrote a covered call option for 2008 March 45 on 10/15/2007 at $5.
- For Taiwan Semiconductor (TSM), we wrote a covered call option for 2008 April 12.5 at $0.35 on 10/18/2007.
- For LDK Solar (LDK), we wrote a covered call option for 2008 March 40 at $3 on 2/13/2008.
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