I decided to add to the ADA holding, price has been drifting around the low $2-90's so it averaged the cost down a smidge and was an allocation of cash from dividends and tax return.
I have also been having an internal battle trying to decide whether to sell some holdings to move the capital into better quality investments, both in the SMSF and the personal portfolio.
I have been mulling over selling ANZ, WES, QBE, MOC, CAB & WPP, I bought ANZ & WES because they are 'blue chips' and i thought at that stage I needed some blue chips in the portfolios. In hindsight they have both gone sideways for a couple of years and I dont see any likely growth in the short to medium term. QBE I bought because I thought I should own an insurer, hopefully I am getting over these compulsions to hold specific sectors!
MOC, CAB & WPP are all in the personal portfolio, CAB I should have sold when they were well over $4, would be happy to take a small loss and move the capital to a better home. MOC has been another sideways drifter, I worry about the exposure to the housing 'bubble' and would probably be more comfortable not holding. WPP i bought when they were SGN and it was a turn around punt, I thought they had been unduly re rated and presented opportuinty for a quick profit. In the end the profit (turn around) took longer than i expected, picked up some divvies on the way but I dont have a compelling belief in them long term.
So far the only move has been to sell WES, made a very small profit plus the divvies over the time invested.
The capital is probably going to find a home with my latest discovery from research, REH, Reece the plumbing supplier, great financials, another fully valued company at current prices but as with ADA and TNE, strong recurring growth means the premium is likley warranted, again nearly debt free, great cash flow conversion, very well run business, very tightly held by family management. All the things I like to find!