In the second quarter of 2017 the portfolio lost 0.7% against an increase of the benchmark of 2.8%. The largest contributor to performance was Minds and Machines (+0.7%). Largest contractors were Houston Wire & Cable (-1.2%) and Logicamms (-1.0%). At the end of the quarter cash made up 24.2% of the portfolio.
During the quarter, I bought shares in Gilead Sciences.
Since inception in January 2014, WertArt generated 42.6% against 52.4% for the benchmark.
An overview of the portfolio’s largest ten positions can be found in the following table:
A detailed overview of the portfolio as of second quarter end 2017 can be found below:
Last but not least for full transparency, I am providing the quarterly portfolio cash streams in the table below:
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