Portfolio Transactions

We made the following changes to our portfolio:

• Added to our positions in Bed Bath & Beyond (BBBY) and Amgen (AMGN).
• We sold Commerce Bancorp (CBH) and Capital One Financial (COF). There will be replaced with American International Group (AIG) and Wells Fargo (WFC). That will keep the same exposure to financials but with better stocks that have a higher projected average return.
• We purchased Microsoft (MSFT) and SAP AG (SAP).
• We are replacing Occidental Petroleum (OXY) and ChevronTexaxo (CVX) with Conoco Phillips (COP) and Helmerich & Payne (HP). These keep about the same exposure to the energy sector but split between a mega cap oil company and an oil services company. Both companies pay dividends (COP 2.1% and HP 0.6%).

All of these trades together will increase the overall quality and projected average return of the portfolio. See Manifest Investing dashboard. We are still a little ahead of the S&P 500 for the year.