This week, five of the portfolio holdings ranked in the Top 10: FMCB, MDT, PPG, SJW, and TGT.
| Ticker | Account Value |
| FMCB | 2,877.00 |
| MDT | 2,030.40 |
| PPG | 2,325.60 |
| SJW | 2,020.28 |
| TGT | 2,304.64 |
But guess what? None of the above matters because it is time to add a new position to the Portfolio for the Ages!
…As discussed in my post on 2024-05-30, Telephone and Data Systems, Inc. (TDS) announced that its board of directors unanimously approved the sale of UScellular’s [USM] wireless operations and approximately 30% of its spectrum assets to T-Mobile [TMUS] for $4.4 billion. TDS will be a much smaller company when the sale is finalized and in anticipation of that day, TDS also announced a massive cut to their dividend.
The dividend reduction marked the end of its short reign as a Dividend King, and it is disqualified from inclusion in the Royal Dividends Empire. Had I not had three covered calls on TDS, I would have exited the position shortly after that announcement.
…This week, five of the portfolio holdings ranked in the Top 10: FMCB, MDT, PPG, SJW, and TGT.
| Ticker | Account Value |
| FMCB | 2,880.75 |
| MDT | 1,968.96 |
| PPG | 2,265.56 |
| SJW | 1,962.48 |
| TGT | 1,897.00 |
The lowest amount belongs to TGT which last traded at $135.50. Therefore, in order to invest a minimum of $250 in TGT, I need to purchase 2 shares on Monday. See the post on 2024-06-24 for a closer look at TGT’s historical performance. Below, is the purchase history and average cost calculation.
The few times I’ve gone camping in my life, I found the sleeping bag uncomfortable. You’re completely covered in a sleeping bag. It’s all or nothing. You can adjust what you have on so that once you’re all zipped up in the bag, the combination of your clothes and the thick insulation provided by the bag is likely a perfect match for the cold outside. But what happens if you gradually get warmer inside the bag? You try unzipping and you fold down the flap and then… you’re freezing. It’s still cold outside. The problem is there are no layers, no way to adjust the coverage, no ‘in between’ option. It’s too late to get back out and remove some clothes. You can’t stand in the tent. You don’t want to step on someone else. That’s a workout at 2:00 am and you’ll never get back to sleep.
…TDS announced earnings on 2024-08-02 and while they beat pessimistic estimates slightly, the needle really didn’t move. This was really the last chance for a large upward move prior to the August 16th expiry date of the 3 covered call contracts on it. Apparently, in response to this rather lackluster earnings report or perhaps a less than stellar unemployment report here in the states, markets all over the world tanked. The carnage continues today, and I have taken the opportunity to roll down the outstanding calls.
In the same, two-legged, GTC option order:
Buy to Close: (3) August 16, 2024 $25.00 Call Options [Symbol: TDS240816C25]
Sell to Open: (3) August 16, 2024 $20.00 Call Options [Symbol: TDS240816C20]
Limit Order Price: Credit of $0.42 per share
…This week, five of the portfolio holdings ranked in the Top 10: FMCB, MDT, PPG, SJW, and TGT.
| Ticker | Account Value |
| FMCB | 2,802.06 |
| MDT | 1,956.24 |
| PPG | 2,345.74 |
| SJW | 2,095.08 |
| TGT | 1,670.04 |
The lowest amount belongs to TGT which last traded at $139.17. Therefore, in order to invest a minimum of $250 in TGT, I need to purchase 2 shares on Monday. See the post on 2024-06-24 for a closer look at TGT’s historical performance. Below, is the purchase history and average cost calculation.
This week, five of the portfolio holdings ranked in the Top 10: FMCB, MDT, PPG, SJW, and TGT.
| Ticker | Account Value |
| FMCB | 2,910.00 |
| MDT | 1,888.80 |
| PPG | 2,423.45 |
| SJW | 1,765.23 |
| TGT | 1,788.00 |
The lowest amount belongs to SJW which last traded at $60.87. Therefore, in order to invest a minimum of $250 in SJW, I need to purchase 5 shares on Monday. Below, is the purchase history and average cost calculation.
This week is the third and final ‘off’ week intended to restore the $250+ per week pace of investment which became necessary with the establishment of a position in EPD. Read on to find out which position would have been most worthy of new money.
This week, five of the portfolio holdings ranked in the Top Ten: FMCB, MDT, PPG, SJW, and TGT.
| Ticker | Account Value |
| FMCB | 2,910.45 |
| MDT | 1,907.52 |
| PPG | 2,432.76 |
| SJW | 1,711.58 |
| TGT | 1,796.76 |
The lowest amount belongs to SJW. There is nothing precluding further investment in that position, other than it being an ‘off’ week.
On 2022-01-04, the equally weighted S&P 500 Index [SPXEW] closed at an all-time high of $6,664.65. It took 918 days, over 2.5 years, to get above that mark. It closed at $6,697.32 on 2024-07-10. The market had finally decided that there is some merit to owning the other 493 companies after all. The market liked how it felt and SPXEW rose again on July 11th and then again on July 12th. The weekend saw a failed assassination attempt on former President Trump and the market seemed to like that, too. SPXEW gapped up on the 15th and followed still higher on the 16th. The index traded slightly down today and closed at $6,932.70. Thus, it took 918 days to move 0.5% and a week to move up another 3.0%.
But that’s SPXEW; I care about Royal Dividends. And guess what? The Portfolio for the Ages turns two years old today. Let’s take a closer look.
…This week will count as the second of three ‘off’ weeks intended to restore the $250+ per week pace of investment due to the acquisition of EPD. However, there is over $250 ($263.24 to be exact) of uninvested income in the account and I am going to deploy it.
This week, five of the portfolio holdings ranked in the Top Ten: FMCB, MDT, PPG, SJW, and TGT.
| Ticker | Account Value |
| FMCB | 2,903.25 |
| MDT | 1,636.95 |
| PPG | 2,481.78 |
| SJW | 1,691.57 |
| TGT | 1,834.20 |
While there is no sector imbalance at this time, there is a position imbalance. QCOM and TDS are off limits for additional investment, but they’re not in the Top 10 so there is no concern. The lowest amount belongs to MDT which last traded at $77.95. Therefore, being careful not to go over the $263.24 available, I will acquire 3 shares of MDT on Monday. Below, is the purchase history and average cost calculation.
