from yahoo finance
fund summary
The investment seeks investment results that correspond closely to the performance, before fees and expenses, of the S&P Global Energy Sector index. The fund invests at least 90% of assets in an aggregate sample of securities that reflect the predominant characteristics of its sector index. Its component companies include oil equipment and services, oil exploration and production, and oil refineries. The fund is nondiversified.
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major holdings
| TOP 10 HOLDINGS ( 56.05% OF TOTAL ASSETS) | |
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| Company | Symbol | % Assets |
| BG Grp | N/A | 2.69 |
| BP | N/A | 6.9 |
| CHEVRON CORP | CVX | 6.11 |
| CONOCOPHILLIPS | COP | 4.43 |
| ENI | ENI.MI | 2.9 |
| EXXON MOBIL CP | XOM | 15.91 |
| ROYAL DUTCH SHELL-A | RDSA.L | 4.32 |
| ROYAL DUTCH SHELL-B | RDSB.L | 3.27 |
| SCHLUMBERGER LTD | SLB | 3.46 |
| TOTAL | FP.PA | 6.06 |
I had no exposure to large cap energy companies as I prefer direct commodity exposure.This is being added to round off the portfolio and give it more balance.That said in real life I would still prefer USO and thereby avoid balance sheets,management etc.
Buying individual companies would be too expensive as every other bloke in town has ConocoPhillips or Schlumberger in their portfolio.But that said the Fed provides a margin of safety by standing ready to fuel inflation should as much Goldman Sachs goes down by 10%.This and the solid fundamentals of oil made me decide and add this high visibility sector to my portfolio.One should note I am terrible at market timing,so what I do is to focus on the fundamentals and buy in when there is a chance of more upside.I am not sure what the candlesticks or mojo has to tell about this.I tend to average it down whenever the hedge funds leave a sector in droves chasing the latest fad causing a correction.
$45.15 (04/07/08)
