Total, the Worth Funding Fund improved 2.6% of the September 30, 2022 stability.
Worth Funding Fund – Standing on October 31, 2022
. October 31, 2022 September 30, 2022 October 31, 2022
. # of Shares Value Foundation Web Market Value* Web Truthful Market Worth* Web Truthful Market Worth*
REITs
. – Essex Property Belief, Inc. (Tranche #1) 71.6846 $20,000 $221.24 $17,292.48 $15,859.50
. – Essex Property Belief, Inc. (Tranche #2) 77.7000 20,000 221.24 18,743.57 17,190.35
. – Essex Property Belief, Inc. (Tranche #3) 100.0000 22,221 221.24 -0- 22,124.00
. – Essex Property Belief, Inc. (Tranche #4) 180.0000 44,980 221.24 -0- 39,823.20
. Sub-Totals 429.3846 107,201 $36,036.05 $94,997.05
Leisure
. – The Walt Disney Firm (Tranche #1) 180.1801 20,000 $105.54 $16,816.21 $19,016.21
. – The Walt Disney Firm (Tranche #2) 200.0000 21,200 105.54 18,666.00 21,108.00
. – The Walt Disney Firm (Tranche #3) 198.0198 20,000 105.54 18,481.19 20,899.01
. Sub-Totals 578.1999 61,200 $53,963.40 $61,023.22
Banking
. – Wells Fargo (Tranche #1) Offered $11,454.44
. – Wells Fargo (Tranche #2) Offered 21,922.86
. – Wells Fargo (Tranche #3) 100.00 4,267.50 44.99 9,190.39 $4,499.00
. Sub-Totals 100.00 4,267.50 $42,567.69 $4,499.00
Dividend Receivables (Essex Property Belief) 328.65 -0-
Money on Hand (Foundation, Positive factors, Dividends, PUTS) 25,131.77 $1,615.11
Totals (Beginning Value Foundation = $100,000) $172,668.50 $158,027.55 $162,134.38
Accrual adjustment for taxes 2,417.20 3,401.79
Totals Web of Taxes (Recapture) $160,444.75 $165,536.16
This portfolio’s worth is AFTER TAXES of 28% on all realized good points. Whole taxes paid thus far 25,924.50 25,924.50
Comparative Gross Return Since Inception $186,369.25 $191,460.60
Unrealized Earnings (Worth of Respective Market Costs Much less Value Foundation/Charges at Level of Sale) $(8,632.57) $(12,149.23)
*Web of transaction charges of $1.00 per share; thus the quantity within the schedule equals the precise market worth per share at closing much less $1.00 per share.
Take word, unrealized earnings decreased $3,517 through the month, but the Fund’s general stability improved simply over $5,000. That is straight attributable to the success of the 2 PUT contracts to buy Essex Property Belief. In impact, the Fund paid roughly $241 per share to purchase Essex and the market worth is $221 per share. This $20 per share differential on 180 shares accounts for the complete $3,500 lower in unrealized earnings throughout this era. Primarily based on intrinsic worth calculations for Essex, the market worth per share will recuperate to greater than $300 per share inside eighteen months. This may generate a return on funding higher than 15% annualized. It’s now only a matter of time – ‘endurance‘, one of many 4 ideas concerned with worth investing.
Worth Funding Fund – Potential Obligations
The Worth Funding Fund’s present publicity associated to PUT choices is as follows:
- Union Pacific Railroad – offered in Feb 2020 with a strike worth of $155/share and an expiration date of January 21, 2023 $20,000
- JP Morgan Chase – offered in Might 2022 with a strike worth of $80/share and an expiration date of June 16, 2023 $20,000
- Norfolk Southern Company – offered in September (200 Shares) with a strike worth of $145 and an expiration date of January 21, 2024 $29,000
Market costs on October 31, 2022 are:
- Union Pacific Railroad (Expiration on 01/21/2023) $197.14 (Strike Value of $155.00) Present Deviation = 27.19%
- JP Morgan Chase (Expiration on 06/16/2023) $125.88 (Strike Value of $80.00) Present Deviation = 57.35%
- Norfolk Southern Corp (Expiration on 01/21/24) $228.07 (Strike Value of $145.00) Present Deviation = 57.29%
*Deviations > 25% are thought of favorable.
Worth Funding Fund – Earnings Yr-To-Date
First Quarter Earnings:
. Offered Huntington Ingalls 03/07/22 Web Realized Achieve $5,557.05
. Dividends Earned (First Quarter 2022) 271.34
. Web Earnings from Gross sales of PUT Contracts 573.10
. First Quarter Earnings $6,401.49
Second Quarter Earnings:
. Web Earnings from Gross sales of PUT Contracts $3,908.57
. Dividends Earned 607.46
. Second Quarter Earnings $4,516.03
Third Quarter Earnings:
. Web Earnings from Gross sales of PUT Contracts $1,040.00
. Dividends Earned 654.26
. Third Quarter Earnings $1,694.26
Fourth Quarter Earnings:
. Realized Positive factors from Sale of Wells Fargo $7,623.19
Whole Realized Earnings Yr to Date 2022 $20,234.97 (11.93% Realized Return to Date)
Taxes Paid to Date 2022 – $3,531.30 (28% of the $12,611.78 Realized Via September thirtieth 2022)
© 2023, David J Hoare MSA. All rights reserved.