THE WIRED INVESTMENT PORTFOLIO
No surprise given the double-digit returns, but the portfolio seems awfully tech heavy. I'm going to change that this month. I'm taking profits from E-Tek – despite its being up 27 percent last month, Uniphase and JDS Fitel recently merged, creating fierce competition.
With cash in hand, I'm buying Pilot Network Services, a Net security services company that has impressive partnerships. I also plan to balance our tech leaning with purchases in large-cap health care ventures. Eli Lilly spinout Guidant has outperformed its competitors. And Abbott Labs has enjoyed strong results from its HIV protease inhibitor, ABT-378. Plus, at only 28 times earnings it's almost a value play.
– Jeffery Wardell (jwardell@hamquist.com)
| Company| Primary Business| Symbol| Shares| Last Trade 2/1| Current Value| Since Purchase
HOLDING
| America Online | Online services | AOL | 4,000 | 171 3/16 | $684,750 | +235%
| Ciena | Optical networking | CIEN | 5,000 | 20 9/16 | 102,813 | – 6%
| Cisco Systems | Network hw/sw | CSCO | 4,500 | 115 | 517,500 | +186%
| Federal Express | Freight delivery | FDX | 1,250 | 85 1/8 | 106,406 | – 2%
| Lucent Technologies | Telecom eqpt | LU | 2,000 | 110 1/2 | 221,000 | + 67%
| MMC Networks | Microchips | MMCN | 15,000 | 16 9/16 | 248,438 | – 8%
| Microsoft | Software | MSFT | 2,000 | 172 15/16 | 345,875 | +106%
| PeopleSoft | Enterprise sw | PSFT | 4,000 | 18 3/4 | 75,000 | – 42%
| Pfizer | Pharmaceuticals | PFE | 1,500 | 132 3/4 | 199,125 | + 34%
SELLING
| SAP | Enterprise sw | SAP | 2,500 | 34 | 85,000 | – 31%
| E-Tek Dynamics | Optical networking | ETEK | 4,000 | 31 3/8 | 125,500 | + 27%
BUYING
| Guidant | Medical devices | GDT | 2,500 | 58 3/8 | 145,938
| Pilot Network | Net security | PILT | 7,500 | 12 15/16 | 97,031
| Abbott Labs | Pharmaceuticals | ABT | 2,500 | 45 13/16 | 114,531
Cash| $| $401,187
Portfolio Value 2/1| $3,259,594
Portfolio Value 1/4| $2,902,468
One-Month Portfolio Performance+ 12.30%Russell 2000 Index + 1.14%
Legend: This fund started with $1 million on December 1, 1994. Profits and losses are reflected monthly, with profits reinvested in the fund or in new stocks.
The Wired Investment Portfolio (formerly TWIT$) is a model established by Wired, not an officially traded portfolio. Jeffery Wardell is a senior vice president in Executive Financial Services at Hambrecht & Quist LLC and may have a personal interest in stocks listed in the WIP. The opinions expressed herein are those of the author and not necessarily those of H&Q's research department. H&Q has not verified the information contained in this article and does not make any representations as to its accuracy and completeness. Wired readers who use this information for investment decisions do so at their own risk.
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