The ValueHuntr Portfolio was up 18% for the first half of the year, compared to -2.3% for the S&P500. The portfolio is currently comprised of 3 long positions (GE, RIG, RMCF), and 2 short positions (BP, IOC). Although we’d like to add more bargains to the portfolio, we have not been able to find as many as same time last year. You can be sure that we will be on the lookout.

The Dow Jones ended May down 7.92%, its worst May performance since 1940. In contrast, the ValueHuntr Portfolio returned 2% for the month.

Since inception in April 2008, the portfolio has returned 145%, relative to -19% for the S&P500. In total, we have taken 16 positions, of which only two have been losing ones: EDEN (-8%) and BP (currently down -2.6%). Our performance compares favorably with well-known value funds, which struggled in May for the most part.