Portfolio Review: YTD & 1Y Returns

Review of my results YTD, here you have my latest review for comparison.

Alex @NateValuetw

Everyone's sharing their YTD performance so here's mine 😎 Biggest positions right now 🔽 1. Navios Maritime Partners $NMM 2. Danaos Corpotarion $DAC 3. Ecogreen International Group $2341 4. Safe Bulkers $SB 5. Textainer Group Holdings $TGH

YTD +211.34%

1Y +363.63%

Portfolio Holdings:

1. Geo Energy Resources ($RE4).

2. Navios Maritime Acquisition ($NNA).

3. ??? - Will not disclose the position for the time being (very illiquid stock).

4. Grindrod Shipping Holdings ($GRIN).

5. Textainer Group Holdings ($TGH).

6. Pangaea Logistics Solutions ($PANL).

7. ??? - Illiquid stock aswell.

8. Safe Bulkers ($SB).

9. Finvolution Group ($FINV).

10. Ecogreen International Group ($2341).

I’m very concentrated at the time being, my top 5 positions make up ~55% of my portfolio. I’m also very concentrated in shipping in general, specially in dry bulk. I’m not very comfortable being so concentrated but I am quite confident in my top 4 holdings (not that confident on $NNA but I think it’s very cheap aswell).

Even though I don’t like either being very concentrated in a few positions nor in a few segments I just haven’t found many good opportunities outside of these. In the past I have been more diversified and I’d usually have decent positions in Hong Kong stocks. I think there are many misspriced stocks in HK but from my experience unless there is a massive catalyst like: extremely good earnings, extremely high dividend… HK stocks trade horizontally for a very long time and then they can easily go up a 50% in a few weeks. Another thing I dislike about HK stocks is that there is pretty much no options.

As for leverage, I haven’t used it in the traditional way but I started selling naked puts at the beginning of this year and so far it’s gone quite well. I usually have puts sold for around 20% of my total portfolio value (value if all the options were executed) and I usually keep around 10% of my portfolio in cash. I need to do more research on it but even in a negative scenario where there was a big market crash I dont think I’d have problems with margin since a lot of the puts I’ve sold are way OTM.

That’s it for now, I’ll review my performance again at the end of the year. By next weekend I’ll probably upload another investment thesis on Grindrod Shipping Holdings or Pangaea Solutions.