Quick Value #304 - Portfolio Changes
Wholesale changes in the portfolio: outlining my thoughts on 4x buys and 5x sales
In full transparency, I’m a bit of a lazy investor and portfolio manager.
There are likely two reasons for this: (1) the importance of private businesses to my net worth is significantly higher than public equities; and (2) my “shiny object syndrome” bleeds into public investing, causing me to prefer the idea generation phase over the portfolio management phase.
This laziness has paid off over the years as I’ve allowed winning positions a longer leash to run (and then continue running despite my desire to sell). Obviously, this had the same (negative) impact for losing positions; but so far, I’ve been right more often than wrong.
Why am I sharing this?
Because I find the easiest way for me to share “official” recommendations or personal portfolio holdings are “in bulk” with posts like these… and also as a reminder that I’m not a full-time investor :)
Here’s an example from last April when I shared 7 small-cap names I was buying during the tariff sell-off:
Of those 7 ideas — 3 were sold for a gain, still holding 2 with gains, and 2 are flat (i.e. underperforming).
Going forward, when I have recommendation updates, I’ll likely be doing them in a summary post like this one.
With that, here are some changes I’m making and a link to my “recommendations tracker” at the bottom:
1) Auto Suppliers
Auto suppliers have been a fertile hunting ground since inventories and production volumes collapsed during the pandemic. More recently, the narrative around electric vehicles (i.e. slower adoption) is making waves in supplier valuations.
