August wasn’t the best month for us, ending with an MTD decline of -2.04%. However, with some cash still on hand, valuations are beginning to look much more reasonable compared to a few months ago. On a positive note, we’re still up 33.83% YTD.
This month, I added ZIM as a new position. We’re currently holding more cash and a wider range of positions than I’d prefer, but I don’t intend to close any positions at this time. I’m still bullish on tankers and believe in maintaining some diversification.
Positions for September 2024
- BIL (3x)
- DAC
- GLNG
- GNK
- HAFNI
- INSW
- NVGS
- OET
- TRMD
- ZIM
Added positions
ZIM
As I mentioned last month, ZIM looks very attractive at its current levels. It had a strong start to the month, but experienced a significant sell-off toward the end. In my view, this stock should be trading between $25 and $30 at the moment. While it’s not a long-term holding due to the substantial container ship order book, I believe it’s an attractive short-term opportunity.
Portfolio Performance Tracking
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