We rebalanced the portfolio this week. We sold our positions in JCI, FISV, LNCR, and ORLY. None of these are bad stocks. However, we were trying to reduce the overall number of stocks in the portfolio to about 20. Someone had to be voted off the island. We also were trying to raise the overall projected average return (PAR) of the portfolio by replacing low PAR stocks with equal or better quality stocks with higher PAR.
We took a new position in Synovus Financial Corp. (SNV). We increased our position in Chevron (CVX) and purchased a second energy stock, Occidental Petroleum Corp. (OXY). We also added to our positions in ACS, PFE, FTB, JKHY, BBY, and WMT.