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  1. #401
    ShareTrader Legend Beagle's Avatar
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    Quote Originally Posted by Not too Flash View Post
    Interestingly the top 5 holdings now make up close to 70% of the portfolio - FPH, MFT, ATM, IFT, SUM.
    I think that's too concentrated.
    Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.
    Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine

  2. #402
    Speedy Az winner69's Avatar
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    Quote Originally Posted by Beagle View Post
    I think that's too concentrated.
    At least most of the biggest holdings are winners

    Only 13 stocks all up

    Like this bit about Summerset - '.... the business could outperform expectations, so we had
    increased our position recently'
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  3. #403
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    Quote Originally Posted by winner69 View Post
    At least most of the biggest holdings are winners

    Only 13 stocks all up

    Like this bit about Summerset - '.... the business could outperform expectations, so we had
    increased our position recently'
    Not sure what they see ? Is this the third or fourth year ?, (sorry I forget), where they haven't been able to sell what they build even when they wind down the build rate significantly ?

    Anyway....gotta say this fills a few gaps in my portfolio as some of their real winners are not held by me in my own name.
    Last edited by Beagle; 13-08-2020 at 03:43 PM.
    Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.
    Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine

  4. #404
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    Quote Originally Posted by Beagle View Post
    I think that's too concentrated.
    Possibly - but when they have a day like today ........

  5. #405
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    Quote Originally Posted by Not too Flash View Post
    Possibly - but when they have a day like today ........
    I am pleased I have a significant stake with Kingfish warrants (KFLWF). I am not entirely convinced by their strategy with their Kingfish fund which is quite dramatically more concentrated that either Marlin or Barramundi but the benefit of the warrants is they cost me very little (6.8 cents each on average), and I don't have to decide if their strategy has worked well until they're potentially exercisable on 10/03/21. My estimate of the exercise price is $1.51, (exercise price is the face value $1.64 less dividends paid during the term of the warrants). I think with the shares at $1.70, and an exercise price of approx. $1.51 the warrants are both very good value at around 10 cents but also provide a great deal of very valuable optionality going forward. It feels to me like a great time with current Covid risks to have excellent upside exposure with limited downside risk and that's the benefit the warrants confer until 10 March 2021.
    Last edited by Beagle; 18-08-2020 at 03:50 PM.
    Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.
    Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine

  6. #406
    Speedy Az winner69's Avatar
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    Quote Originally Posted by Not too Flash View Post
    Possibly - but when they have a day like today ........
    A2, FPH and in particular SUM helping boost them today

    Good picks ...winners all.
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  7. #407
    Speedy Az winner69's Avatar
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    With 15% in A2 fund taking a bit of a hit

    But Summerset helping them out
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  8. #408
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    They did very well adding to SUM quite a while back...hope you did really well doing the same.
    Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.
    Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine

  9. #409
    ShareTrader Legend Beagle's Avatar
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    Huge jump in NTA of just on 9 cents per share announced today to just nudging on $1.79 which I think is a new all time high. https://www.nzx.com/announcements/361563
    I expect the exercise price of the Kingfish warrants KFLWF on 12 March 2021 to be $1.51 and on an adjusted and fully diluted basis I assess fair value of the warrants today at 22.4 cps.
    (Opportunity knocks ! Quite an opportunity there with the last trade at 15.7 cps and plenty of offer at 16.5 cps).

    Disc: I hold quite a few and intent to exercise my warrants and convert to shares on 12/03/21.
    Big stakes in MFT, IFT, FPH, ATM SUM and others I don't own so this fills a lot of portfolio gaps for me and provides excellent diversification and moderates my risk while still enjoying awesome returns.

    A reminder that Kingfish pay 2% per quarter (8% per annum) in PIE dividends based on asset value and this represents a ~ 12% gross return for 33% taxpayers.
    Last edited by Beagle; 15-10-2020 at 03:36 PM.
    Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.
    Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine

  10. #410
    ShareTrader Legend Beagle's Avatar
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    http://nzx-prod-s7fsd7f98s.s3-websit...873/333416.pdf

    Summerset their star performer in the Sept quarter. KFLWF warrants are still trading well below their fair value in my opinion, see above.
    Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.
    Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine

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