May 2017 Performance
May was another replay of the March / April performance. The bulk of this performance can be attributed to my positions in Constellation Brands (Ticker: STZ) and Apple (Ticker: AAPL). Both Constellation Brands and Apple were fairly stagnant in 2016, but they have finally awaken in 2017. The closing of Syngenta (Ticker: SYT) was also a positive contributor to the results.
Right now things are very quiet with no positions in any arbitrage / special situation plays. I’m just patiently waiting for the next opportunity to pop up. I do have a healthy cash position (~13%), which is rare for me. I’m usually 100% + invested at most times, but there are instances where cash just builds up as there is nothing compelling to buy.
Hopefully a decent merger arbitrage / special situations play(s) will present itself in the second half of the year. Just playing things conservatively for now...
2017 Performance Year to Date = +21.93% with the running monthly returns as follows:
January -4.50%
February +10.18%
March +5.1%
April +4.34%
May +5.67%
posted by Money Turtle @ 10:03 PM
4 comments
4 Comments:
what you think of PRXL?
PRXL has a good shot of getting acquired. They are in a consolidating industry where you really need scale to compete. Interesting news about LabCorp's interest, which I find a bit odd. I can see a company like Quintiles making a move on PRXL.
there is an amazing lack of arbitrage opportunities now. spreads are very thin and my only major long term position is $MON. $BRCD and $MBLY are considered short term plays.
I agree... sitting on some cash and waiting for the right opportunity.
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