The total year-to-date (YTD) return was a slight loss of 0.36% which is better than a loss of 4.77% we did the same time last year. The performance slightly lagged the domestic indexes which are up around 1%. It however beat the returns on the emerging market indexes, which are down around 3%, and other developed market indexes, which are down around 0.5%. We started the year with an allocation of 37-34-29 among Domestic, International, and Bond Funds respectively and the allocation has shifted to 36.6-33.7-29.7 due to the performance differences YTD among the three sectors.
Below is our current portfolio:
For the rest of 2011, we expect to do a minor reallocation this month. An update will follow. If the market rallies as the year progresses, we will shift more into bonds and vice-versa.
Below is our current portfolio:
| Symbol | % of Portfolio | Fund Fees | Fund Return YTD (After Fees) | Comments |
| ABF Small Cap Value (AVFIX) | 4.95 | 0.82 | 1.86 | A Small-cap value fund with about 1.2B of total assets under management. |
| Artisan Mid-cap Value (ARTMX) | 2.19 | 1.21 | 7.62 | A mid-cap value fund with about 3.7B of total assets under management.Top 10 holdings account for 30% of assets. |
| Dodge & Cox Stock Fund (DODGX) | 6.70 | 0.52 | 2.96 | A Large cap value fund with a history of outperforming the S&P500 index. Has very low turnover ratio. The fund is very big (~70B) and so outperformance may be harder to come by going forward. |
| Fidelity Diversified International Fund (FDIVX) | 17.60 | 1.00 | (0.60) | Diversified large-cap international growth fund. This fund is very big at over 58B. Turnover is at 58%. Has a history of outperforming its related index, the MSCI EAFE. |
| Fidelity Small Cap Stock Fund (FSLCX) | 4.77 | 0.95 | 1.80 | None. |
| Fidelity Low Priced Stock Fund (FLPSX) | 3.52 | 0.83 | 5.91 | None. |
| PIMCO Total Return Fund (PTTRX) | 18.28 | 0.52 | 3.11 | None. |
| Calomos Growth A (CVGRX) | 4.31 | 1.22 | 0.77 | A 12B large cap growth fund. The top 10 holdings represent about 27% of assets. |
| Schwab S&P500 Index (SWPIX) | 3.47 | 0.36 | 2.96 | An index fund that tracks the performance of the S&P500 index benchmark. |
| William Blair International Growth (WBIGX) | 4.04 | 1.67 | (1.33) | A 5B large cap international fund with between 10 and 25% exposure to emerging markets. |
| Vanguard Pacific Stock Index (VPACX) | 3.69 | 0.27 | (4.70) | An index fund that tracks the performance of the MSCI Pacific index benchmark. |
| Vanguard Inflation Protected Securities (VIPSX) | 8.42 | 0.20 | 5.41 | Invests in inflation indexed bonds (primarily US) with maturities between 7 and 20 years. |
| Vanguard Emerging Market ETF (VWO) | 6.69 | 0.25 | (2.15) | None. |
| Fidelity International Real Estate Stock Fund (FIREX) | 0.79 | 0.96 | (3.84) | None. |
| Fidelity Small Cap Growth Fund (FCPGX) | 3.76 | 1.09 | 5.21 | None. |
| Fidelity Select Technology (FSPTX) | 1.39 | 0.88 | (0.99) | A sector specific fund focused on large cap technology stocks with about 2B in assets under management. Top 10 holdings account for 45% of total assets. |
| Fidelity Select Health Care (FSPHX) | 1.54 | 0.87 | 12.33 | A sector specific fund focused on large cap healthcare stocks with about 2B in assets under management. Top 10 holdings account for 38% of total assets. |
| Vanguard Pacific ETF (VPL) | 0.89 | 0.00 | (4.30) | |
| Cash and Money Market | 0.27 | 0 | 0 | None. |
| Pension Plan | 2.73 | 0 | 3.70 | Company Fully Vested Cash Balance Pension Plan. |
For the rest of 2011, we expect to do a minor reallocation this month. An update will follow. If the market rallies as the year progresses, we will shift more into bonds and vice-versa.
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