Friday, June 02, 2017

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%


At June 08, 2017, Anonymous Anonymous said...

what you think of PRXL?

At June 08, 2017, Blogger Money Turtle said...

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.

At June 28, 2017, Anonymous said...

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.

At June 28, 2017, Blogger Money Turtle said...

I agree... sitting on some cash and waiting for the right opportunity.


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