We went about 4% more on margin to purchase shares of Companhia Siderurgica Nacional (SID) at $11.47 per share. Companhia Siderurgica Nacional is a Brazilian integrated steel producer. The purchase gives the portfolio further geographical diversification (Brazil) along with a foothold into metals/commodities sector. Again, the market correction has resulted in bargain valuation in many companies – as mentioned previously, we generally do not purchase shares on margin and expect to either infuse more cash into the portfolio or free up some cash by selling other positions later this year or early next year.
Below is our updated portfolio:
| Stock | Buy Date | Buy Price | Current Price | Current % Of Portfolio | Unrealized % Return | Yield as % of BOY Portfolio Value Plus Deposits |
| Altria (MO) | Various | 16.69 | 17.16 | 4.37 | 2.85 | 0.12 |
| Philip Morris International (PM) | 1/4/2005 | 32.19 | 39.74 | 6.17 | 23.44 | 0.14 |
| Kraft Foods (KFT) | Various | 24.03 | 27.25 | 4.62 | 13.38 | 0.09 |
| Plum Creek Timber (PCL) | 5/12/2005 | 35.5 | 45.52 | 11.58 | 28.21 | 0.26 |
| Pfizer (PFE) | Various | 24.37 | 15.14 | 6.42 | (37.87) | 0.23 |
| ICICI Bank (IBN) | 5/18/2006 and 08/01/2008 | 28.30 | 13.85 | 4.70 | (51.07) | 0.03 |
| Taiwan Semi (TSM) | 7/27/2006 | 8.71 | 8.32 | 7.06 | (4.30) | 0.13 |
| Advantage Energy Fund (AAV) | 11/2/2006 | 11.22 | 4.99 | 2.75 | (55.54) | 0.18 |
| SunTech Power (STP) | 3/14/2007 | 36.73 | 21.90 | 3.71 | (40.37) | None |
| Central Europe & Russia Fund (CEE) | Various | 51.03 | 22.10 | 4.69 | (54.88) | 0.54 |
| Patni Computers (PTI) | 8/10/2007 | 20.85 | 6.20 | 2.63 | (70.29) | 0.02 |
| Itron Inc. (ITRI) | 11/07/2007 | 85.01 | 71.25 | 6.04 | (16.28) | None |
| Anthracite (AHR) | 11/09/2007 | 7.97 | 2.64 | 2.24 | (66.88) | 0.20 |
| ClickSoftware (CKSW) | 11/09/2007 | 4.61 | 2.45 | 2.07 | (46.93) | None |
| Harvest Energy (HTE) | 11/28/2007 | 21.01 | 8.09 | 2.74 | (61.50) | 0.25 |
| iRobot (IRBT) | 12/18/2007 | 18.65 | 12.42 | 4.21 | (32.83) | None |
| MCG Capital (MCGC) | Various | 10.86 | 1.26 | 0.85 | (88.40) | 0.09 |
| LDK Solar (LDK) | 01/22/2008 | 30.49 | 19.06 | 4.85 | (37.49) | None |
| Aegon N.V. (AEG) | 04/28/2008 | 15.99 | 5.02 | 2.55 | (68.60) | 0.09 |
| LM Ericsson (ERIC) (AEG) | 05/05/2008 | 11.83 | 6.54 | 4.44 | (44.70) | 0.09 |
| TD Ameritrade (AMTD) | 05/21/2008 | 17.68 | 13.12 | 4.45 | (25.81) | None |
| Trina Solar (TSL) | 06/06/2008 and 07/31/2008 | 45.61 | 11.72 | 2.48 | (72.17) | None |
| Costco (COST) | 08/01/2008 | 62.28 | 53.90 | 4.57 | (13.45) | 0.03 |
| Frontline Limited (FRO) | 10/06/2008 | 36.95 | 31.03 | 3.95 | (16.01) | 0.67 |
| DryShips Incorporated (DRYS) | 10/09/2008 | 19.30 | 17.84 | 4.54 | (7.56) | 0.11 |
| Companhia Siderurgica Nacional (SID) | 10/10/2008 | 11.47 | 11.64 | 2.96 | 1.46 | 0.07 |
| Cash | (12.22) | |||||
| Total Portfolio | (39.34) | 3.24 |
- For SunTech Power (STP), we wrote covered calls for 2008 Dec 50 on 06/06/2008 at $5.20.
- For Taiwan Semi (TSM), we wrote covered calls for 2008 October 12.5 on 4/21/2008 at $0.45.
- For Altria and Philip Morris International, assumed spin-off ratio of 30.83:69.17. Altria is yet to supply the cost-basis info
- For Plum Creek Timber (PCL), we wrote covered calls for 2008 November 50 on 06/03/2008 at $1.70.
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