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Friday Portfolio Activity

I had a couple actions in my portfolios on Friday, 9/22/2023.

I had forgotten I had a modest position in the Apollo Global Management 6.375% investment grade perpetual preferred (AAM-A) which was redeemed on Friday–so cash came into the account. 18-19% gain in 51 weeks–bought 9/26/2022 for $22.30. Wish I would have had an overweight in this one (with the benefit of 20/20 hindsight).

I bought more of the RiverNorth Doubleline Strategic Opportunities Fund 4.75% perpetual (OPP-B) @ $19.50. This is the one I mentioned earlier in the week that I bought 4 shares on a good til cancelled order–so I lowered my order 25 cents and it was hit on Friday (should have gone even lower on the gtc). While current yield is just 6.15% the real potential lies in a peaking or reduction of interest rates in the next year or so–my mental target would be say a 16% gain a year from now (10% cap appreciation plus dividends) – of course who knows what interest rates hold for the next year.

The updated holdings are here.

3 thoughts on “Friday Portfolio Activity”

  1. Don’t forget OPP-A. Same credit rating and yield slightly higher than B. Lower capital price to add.

  2. Tim,

    Just wanted to say a big Thank You! for the portfolio that you provide, and for the updates. I actually don’t use it to make buys (there is little overlap in my portfolio), but I use it a *lot* for good examples of securities in a particular industry that I am studying. So thank you for taking time to keep it updated.

  3. Gets confusing with Apollo Global Management and Apollo Asset Management both used when naming AAM-A. Doesn’t matter now since it has been called.
    APO stock has been doing very well so investors are thinking it’s a strong company.
    Also there’s the subsidiary Athene Holding with preferred stock.

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