There was a bit of selling in the portfolio, as I have been slowly raising some cash anticipating what I had mentioned about a week ago about a major cash outflow event. In any case, there will be a great deal more selling off of stocks in the portfolios.
The portfolio is more concentrated now than before, and this is the direct result of the reduction of positions in the portfolio along with the fact that the percentages do not reflect any cash in the portfolio.
| Company | Ticker | Q2 | Q1 | Change |
| Altria Group | MO | 18.3% | 18.0% | +0.3% |
| Student Loan Corp. | STU | 9.5% | 6.9% | +2.6% |
| General Electric | GE | 7.5% | 5.5% | +2.0% |
| Eastman Kodak | EK | 6.8% | 4.4% | +2.4% |
| Yahoo! | YHOO | 6.1% | 5.6% | +0.5% |
| Linear Technology | LLTC | 5.8% | 4.0% | +1.8% |
| Fortune Brands | FO | 5.7% | 4.3% | +1.4% |
| Int. Gaming Technology | IGT | 5.5% | 4.5% | +1.0% |
| Constellation Brands | STZ | 5.5% | 3.8% | +1.7% |
| First Marblehead Corp. | FMD | 5.3% | 4.1% | +1.2% |
| TODCO | THE | 4.3% | 2.9% | +1.4% |
| Montpelier Re | MRH | 4.2% | 3.1% | +1.1% |
| Chevron | CVX | 3.9% | 2.7% | +1.2% |
| PH Glatfelter | GLT | 3.7% | 3.2% | +0.5% |
| Amgen $40 Jan 08 Calls | AMQAH | 2.2% | * * * | * * * |
| Lifetime Brands | LCUT | 1.9% | 1.5% | +0.4% |
| Deb Shops | DEBS | 1.9% | 1.5% | +0.4% |
| Sun Bancorp. | SNBC | 1.7% | 1.4% | +0.3% |
| Form Factor | FORM | 0.0% | 6.4% | -6.4% |
| Capital One Financial | COF | 0.0% | 5.0% | -5.0% |
| American Eagle Outfitters | AEO | 0.0% | 4.1% | -4.1% |
| Amgen | AMGN | 0.0% | 4.0% | -4.0% |
| Coventry Health Care | CVH | 0.0% | 2.0% | -2.0% |
| Kongzhong | KONG | 0.0% | 1.0% | -1.5% |
Trading Portfolio holdings:
CompuCredit (CCRT)
eBay (EBAY)
Penson Worldwide (PNSN)
Qiao Xing Mobile (QXM)
Wet Seal (WTSLA)
Notes: Percentages do not account for any cash held in the portfolio. During this quarter, Kraft (KFT) was distributed to Altria Group shareholders, and those shares were subsequently sold. Additional shares of FMD were purchased during this quarter. AEO, COF, CVH, and KONG were sold off completely. AMGN was sold, but 2008 LEAPs (AMQAH) were purchased. FORM was also sold off, but July 40 puts (AFUSH) were sold.
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