sep09update

We have decided that from now on we”ll post a monthly update of our portfolio at the end of the month. To add credibility to the updates, we have signed up for covestor.com account, which links directly to the brokerage account and pulls out the holdings and trades that we have made. Unfortunately, covestor does not provide any performance information before the date we signed up with them, so everything that is calculated is since that date, which is September 3rd, 2009.

In September, our portfolio was up 10.49%, compared to S&P500’s 6.27%. Big mover was Ameron International (AMN), which went all the way up to $89 and we sold all of our holding at $85 for total gain of 51.8%. It has now dropped back in the range of $70.

AAR Corp (AIR) has been doing well after it released a strong quarterly report. It went up more than 30% in September. On the other hand, Cell Therapeutics (CTIC) is down 20% for us.

We decided to sell 75% of our holding in Kindred healthcare (KND) at $16.4 for a gain of 39.2%. The S&P500 was at the highest level for the year in mid-September and we wanted to build some cash. Now our portfolio is 25.08% in cash. Healthcare is still our biggest exposure with 24% of our portfolio invested in it.

Also new this month is the NAV of our partnership. We have decided to switch to NAV system so that it is easier to track individual’s contribution. September’s NAV is set at $10.00 per partnership unit. We will also include the monthly NAV in our update.