After a challenging start to the new year that resulted in a major reshuffling of the portfolio, it looks as if Portfolio A1 is now back on track with an interesting cross-section of holdings. Part of the credit for the performance turnaround should go to W&T Offshore (WTI), the oil and gas exploration and production company that gained 9.2% in the first week it was in the portfolio. A five stock portfolio is always a crap shoot of sorts, but given the current market environment and opportunities it presents, I am pleased with the current makeup of the portfolio.
After 51 weeks (since the February 16, 2007 inception), Portfolio A1 sports a cumulative performance of +4.8% vs. a -8.5% performance in the benchmark S&P 500 index over the same period.
Gone after just one week in the portfolio is Chattem (CHTT), which is being replaced by Invitrogen (IVGN), a lab testing and diagnostic company that just last week reported solid earnings and resolved some patent disputes. For those looking for more information on IVGN, a good place to start is with the conference call transcript from the February 5, 2008 conference call.
There no additional changes to the portfolio this week.
A snapshot of Portfolio A1 is as follows: