The Intelligent Investor Equity Income Portfolio has reduced its holding in Trade Me by about two percentage points to 6.6% (at $5.32) and its holdings in ASX (at $51.51) and Virtus Health (at $7.92) each by one percentage point, to 6.3% and 4.3% respectively.
It has used the money (and some cash) to increase its holding in Commonwealth Bank by three percentage points to 5.2% (at $71.60) and its holding in Westpac by 1.5 percentage points to 3.8% (at $29.55).
Trade Me remains a Buy and we're very comfortable with it. However, its weighting (at 8.6%) was well above our 6% recommended maximum. Commonwealth Bank and Westpac are both Holds, but close to their Buy prices and they're well suited to an income-focused portfolio due to their high fully franked dividend yields.
See our article What we mean by Buy Hold and Sell for a fuller explanation of what our recommendations mean.
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