August Portfolio Review

Portfolio Update:

Today I bought shares in 3 more companies: Excel Maritime Carriers LTD. (EXM), Alpha Pro Tech LTD. (APT), and VSE Corporation (VSEC).

Excel Maritime Carriers Ltd. – I bought 200 shares of EXM @ $5.11/share plus $5.00 commission for a total of $1,029.96.  Cost/share including Commission = $5.15.

Alpha Pro Tech Ltd. – I bought 700 shares of APT @ $1.57/share plus $7.95 commission for a total of $1,106.98.  Cost/share including Commission = $1.58.

VSE Corporation – I bought 36 shares of VSEC @ $27.98/share plus $5.00 commission for a total of $1,013.00.  Cost/share including Commission = $28.14.

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August 2010 Portfolio Review

This month my shares dropped by 10.14%, this beat my small cap value benchmark, but trailed the S&P 500 by over 5 percentage points.  So far my portfolio return since May 27 is -7.74%.

………………………2010…………………………………
Monthly Return History	May	Jun	Jul	Aug	Since May 27
Total Return	-0.58	-6.83	10.84	-10.14	-7.74
S&P 500 TR	-1.23	-5.23	7.01	-4.51	-4.37
Morningstar Small Value	-1.45	-8.07	7.52	-7.06	-9.46

Portfolio Stats

	My Portfolio	Relative to S&P 500
Price/Forward Earnings	7.27	0.57
Price/Book Ratio	0.95	0.52
Return on Assets (ROA)	12.86%	1.61
Return on Equity (ROE)	20.87%	1.03
Projected EPS Growth – 5 yr %	11.80%	1.21
Yield %	1.97%	0.96
Average Market Cap	264 Mil	0.01

My portfolio has lower P/E, P/B and higher RoA and RoE than the market average.

My Holdings

% of Assets	Holding Name	Industry	Market Value	Aug Total Return
18.18%	Alpha Pro Tech Ltd.	Medical Appliances	$1,071.00	-
17.15%	VSE Corporation	General Contractors	$1,010.88	-
17.04%	Excel Maritime Carriers	Water Transport	$1,004.00	-
17.04%	International Shipholding	Water Transport	$1,004.20	-4.13%
15.80%	Ampco-Pittsburgh Corp.	Diversified Machinery	$929.00	-10.54%
14.79%	Noble Corporation	Oil & Gas Drilling	$868.00	-9.61%

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