Portfolio Adjustments: Selling Tokio Marine, American Eagle Outfitters, Whirlpool and USA Mobility

I took the opportunity today (Monday) to take steps to restructure the portfolio:

• I sold my Tokio Marine ADRs (TKOMY). I'm in the process of putting the resulting funds into another insurance company, so this will be a sideways move.

• I also sold American Eagle Outfitters (AEO), Whirlpool (WHR) and USA Mobility (USMO). Meryl Witmer's firm apparently sold AEO and WHR, and most of USMO. That just strengthens the view that these have been disappointing. I'd be tempted to hold, but have a list of candidates I like better and will soon (I hope) be putting these funds to work.

All of these were sold for less than I purchased, which I will detail when time permits. This is the week before the Memorial Day holiday here in the US, making this a hectic time for my non-blogging -- READ: job -- duties.

Comments

[Alex]

Are you commenting on Eagle Capital through their 13-HR? I am looking at the sec page for Witmer Asset Management and it shows a $4.5M portfolio, as compared to the $209M portfolio in March.

[John]

@Alex: Yes, it looks like they might be liquidating their portolio, going to all cash, or something. Will be interesting to see what's up.

[Alex]

I am not particularly savvy with SEC documentation, but Eagle Capital Partners filed a Form D/A in March. It received $414.6M in consideration, so perhaps the Witmers have simply transferred their clients' assets to a new vehicle.

[John]

@Alex: Could be. Barron's does a midyear Roundtable (June, before July 4th or thereabouts). If her firm has gone all cash, or all foreign stocks, etc., I'm sure it'll get mentioned.