Saturday, January 2, 2021

My Annual Schedule of Investments

2020 has arguablly been the wildest year in the history of the stockmarket. As is the annual tradition, I post my largest positions.

Click here for last years positions.

Company Category Business Duration
European Reliance ( ATH: EUPIC ) Greek small cap Life and Health insurance 6.5 yrs
Kansas City Life ( KCLI ) US small cap Life insurance 6 yrs
Senvest Capital ( TSE: SEC ) Japanese small cap Investment Company 5.5 yrs
IEH Corp ( IEHC ) US microcap Manufacturing 7.5 yrs
Tachibana Eletech ( TSE: 8159 ) Japanese small cap Electronic Distributor 7.5 yrs
Installux SA ( PAR: STAL ) French microcap Manufacturing 7.5 yrs
Riken Keiki ( TSE: 7734 ) Japanese small cap Manufacturing 7.5 yrs
Investors Title Company ( ITIC ) US small cap Title Insurance 6 yrs
Lewis Group ( JSE: LEW ) South African midcap Fumiture Retail 5 yrs
MIND C.T.I.Ltd ( MNDO ) US small cap Billing 0.5 yrs
Philip Morris Int ( PMI ) US large cap Tabacco 20 yrs
Altria ( MO ) US large cap Tobacco and alcohol 0.5 yrs
Karelia Tobacco Company Inc. (ATH:KARE) Greek small cap Tobacco 6 yrs
Combined Motor Holdings (JSE:CMH) South African small cap Car Retail 6 yrs
Seaboard Corp ( SEB ) US midcap Food conglomerate 15 yrs
McRae Industries ( MCRAA ) US microcap Footware 8 yrs
New Century Group HK ( HK: 0234 ) Hong Kong microcap Hotel,cruise line 6 yrs

We all know there was a huge crash in March followed by an amazingly fast rebound. Like almost all investors, I've been busy repositioning my portfolio. What I did this time was like in past corrections, I have opportunisticly added to some formerly small positions and initiated a few new ones.

ITIC was a large position that I regrettably reduced five years ago. Now I have added back sufficiently that my position is the same as back then. The same story goes for PMI, my position now is the same as before. A similar story goes for MO. I closed my position 9 years ago, and my position now is the same as before.

I have also added to EUPIC, SEC, IEHC, KARE.

The only completely new stock that I own is MNDO. This is an incredible dividend payer that I've followed for several years. To get into it, I will have to make a writeup sometime in the future.

The only position that I reduced is SEB.

I still own S&P 500 shorts. In fact I have added to it this year! And this has been the big drag on my portfolio performance. I am down slightly for the year, but the bright side is that my long positions are up by single digits percentage points.


  1. how is withholding tax setup with MNDO? It's headquartered in Israel but trades on the Nasdaq?

    1. It is withheld at 25%, which typically you can then deduct from your tax return.

  2. Correction, the $0.26 dividend for 2020 to be paid in Spring 2021 will be taxed at 20%.