Dollar Value of Trades Discussed in this Post:
I am cutting of discussions with trades made last Thursday (3/5)
Inflow Common Stocks/Stock Funds: $455.9
Outflow Common Stocks/Stock Funds: $2,045.01
Realized Gains: $299.22
New Outflow Common Stocks: $2,201.81
Outflow Balanced Mutual Fund: $414.45 (gain of $210.64)
Treasury Bills Purchased at Auction: $40,000 in Principal Amount
Inflow Term Bond ETF: $116.58
Inflow Equity Preferred Stocks: $314.5
Inflow Leveraged Junk Loan/Bond CEF: $48.5
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Economy:
The BLS reported that the economy lost 92,000 jobs in February. Employment Situation News Release - 2026 M02 Results "The change in total nonfarm payroll employment for December was revised down by 65,000, from +48,000 to -17,000, and the change for January was revised down by 4,000, from +130,000 to +126,000. With these revisions, employment in December and January combined is 69,000 lower than previously reported." Average hourly earnings increased by 3.8% of the past 12 months through February. The unemployment rate was reported at 4.4%.
WATCH: Trump says U.S. economy 'hottest' in the world - YouTube; Kevin Hassett Confronted on CNBC Over Tanking Jobs Report Just more Orwellian Doublespeak. Kevin Hassett is the Administration official who wanted the New York Federal Reserve researchers disciplined for daring to find that U.S. companies and consumers overwhelmingly paid the republican tariff taxes. At least he did not say "off with their heads".
ADP National Employment Report: Private Sector Employment Increased by 63,000 Jobs in February; Annual Pay was Up 4.5% The January report was revised down from 22,000 to 11,000. The pay increase and job numbers are consistent IMO with a developing stagflation scenario.
Trump tariffs: Bessent says 15% this week, IEEPA levels later Bessent, a failed hedge fund manager appointed by Trump to be the Treasury Secretary, claimed that the tariffs will be "back to their old rate within five months", indicating the Trump Commerce Department will find reasons to impose tariffs under Section 301 of the Trade Act of 1974, claiming that tariffs imposed under that section "have survived more than 4,000 challenges". I did not spend any time trying to verify that claim. The Trump Administration will act in bad faith and abuse its limited authority under Section 301 which has been made clear IMO by Bessent's statement.
The recently imposed tariffs under section 122 will not survive a legal challenge IMO. The New Trump Tariffs Are Also Unlawful | Cato at Liberty Blog; Andrew McCarthy on "Why Trump’s Section 122 Tariffs Are Illegal"
Oil and natural gas surge after Iran orders Strait of Hormuz closure (3/3/26): Trump claimed that U.S. International Development Finance Corporation will insure the tankers using that passage at a "very reasonable price". That federal agency has limited authority to issue up to $1B in "political" risk insurance coverage "against losses due to risks such as currency inconvertibility, expropriation, and political violence." There is no authority IMO to insure tankers who are at risk due to a war, but this may provide some shippers with enough incentive to proceed. I doubt that anyone in that agency has a clue on how to set a "very reasonable price" for commercial ships using the Persian Gulf, Strait of Hormuz and the Gulf of Oman or how to write coverage including what risks are covered by the insurance (injuries and death to crew members, damage to ships, oil spills, salvage operations for stranded or sunk ships, etc.)
The shippers still have to evaluate potential injury to their crews from missile and drone attacks. Trump also asserted that the war with Iran may result in "a little high oil prices for awhile".
Emmer (R-MN): Oil prices will drop after 'short-term experience' in Iran Tom Emmer is the republican House Majority Whip. As framed by republicans, the issue is that the increase in energy prices will be quickly reversed and will be well worth regime change in Iran, which assumes that regime change will happen and that the only negative impact will be limited to a temporary spike in energy prices. We shall see. The near term worst case scenario is the supply disruption + the price hike is sufficient, along with other negative factors, to cause a worldwide recession.
Trump tariffs refunds: Customs and Border Protection can't comply with order CBP tells judge it needs 45 days to start tariff refunds - POLITICO CBP is slow walking the refunds IMO and attempting to make the refund process more cumbersome. The Court Order does require the government to pay interest on the refunded amounts.
After Trump’s sovereignty threats, Canadians keep ‘elbows up’ Canadians are increasingly boycotting U.S. products and eliminating vacation trips to the U.S. That is a natural and understandable result from Trump's actions and rhetoric.
Stocks and crude oil rallied into the close today after Trump assured investors that the Strait of Hormuz was open and the war almost over, notwithstanding the hardline regime remaining in power with Ayatollah Mojtaba Khamenei replacing his father as Iran's supreme leader - hardly a signal that Iran regards the war as over. Trump says "the war is very complete," and he's considering taking over Strait of Hormuz - CBS News
Trump: "We’ve wiped every single force in Iran out, very completely".Trump says Iran war will end 'very soon'
Trump also represented that Iran had "nothing left in a military sense". Trump then made this representation: "They've shot everything they have to shoot, and they better not try anything cute or it's going to be the end of that country. … If they do anything bad, that would be the end of Iran and you'd never hear the name again." Trump apparently believes that the threat of more destruction in Iran will cause the regime to quit targeting cargo ships and energy infrastructure in the region.
Iran warns oil tankers transiting Strait of Hormuz must be careful
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Our Dear Leader:
The American King Goes to War - The Atlantic Trump is the first American King with more power now than King George had in America in 1776. That is what republicans, self identified as "conservative" in the American tradition, want as long as the King is Trump and not any Democrat of course. What would republicans say if Elizabeth Warren was President and was exercising the same kind of power as Trump? Would they be as quiet as they are now? It is just their hypocrisy of course.
The founders vested in Congress, not the President, with the constitutional authority to start a war, thereby creating an innovation in government that had previously not existed.
In 1776, the King of England "had the power to both declare war and command troops.", quoting from the book America's Constitution: A Biography That was the case in Europe as well at the time. The Founders were familiar with Europe's history and how Kings had started wars to enhance their wealth or to redress grievances, even though it was the King's subjects who paid the price in their lives and money.
The author of the Atlantic article quoted Abraham Lincoln: "Kings had always been involving and impoverishing their people in wars, pretending generally, if not always, that the good of the people was the object." This was "understood to be the most oppressive of all Kingly oppressions and they resolved to so frame the Constitution that no one man should hold the power of bringing this oppression upon us." This passage is quoted at the website maintained by the House of Representatives. Power to Declare War | US House of Representatives: History, Art & Archives As discussed in that article, the war power of the President was intended to be defensive and exercised only on an emergency basis when Congress was not in session and the country was being attacked by a foreign power.
All Senate Republicans, except for Senator Rand Paul, voted against a resolution requiring Trump to obtain congressional approval for further military actions against Iran. Senator Fetterman (D-PA) voted with the Republicans. Senate fails to block US involvement in Iran war; Senate Rejects Measure to Force Trump to End Iran Strikes | TIME
House Republicans Shoot Down Effort To Stop Trump’s Iran War
The Republican Senate and House members now own this war and all of the consequences hereafter, good and bad. They also own all of the consequences flowing from Trump's tariffs war by refusing to even vote on them.
Iran school strike: Analysis suggests US was responsible for deadly strike | CNN The U.S. military was targeting an area near bombed Iranian school, sources say; Experts say Iran school blast likely targeted airstrike | AP News This strike at the Shajareh Tayyebeh Elementary School in Minab killed at least 168 children and 14 teachers. This happened at about the same time the U.S. carried out a strike on a neighboring IRGC naval base. Trump and Hegseth claimed Iran was responsible for bombing the school. Donald Trump, Pete Hegseth accuses Iran, not U.S., of school bombing If they admitted the U.S. carried out this strike, I would believe them. Their denials are worthless gibberish. Both are psychopaths IMO.
It is not surprising that republican politicians support what Trump is doing in Iran. The most recent poll has 84% of republicans supporting the attacks. Majority of Americans oppose military action in Iran, new poll finds | PBS News
Rubio claimed that the U.S. had to engaged in a preemptive strike against Iran: "We knew there was going to be an Israeli action, we knew that that would precipitate an attack against American forces, and we knew that if we didn’t preemptively go after them before they launched those attacks, we would suffer higher casualties" Rubio: ‘There absolutely was an imminent threat’ from Iran This claim was not mentioned as a justification when the Administration briefed several member of Congress. After being asked about that clear statement, Rubio denied making it, even though it was on tape and transcripts were available that anyone could read. Rubio defends U.S.-Israel Iran strike timing
Trump on the other hand claimed that he initiated the conflict and forced Israel's hand. Trump: "Based on the way the negotiation was going, I think they were going to attack first, So if anything, I might have forced Israel’s hand."
Trump had a gut feeling: "We were having negotiations with these lunatics, and it was my opinion that they were gonna attack first. They were going to attack—if we didn’t do it, they were going to attack first. I felt strongly about that". His spokesperson, Karoline Leavitt, added that Trump had a "feeling based on fact", not just a feeling.
Trump says he may have forced Israel's hand into war with Iranian 'lunatics' | The Times of Israel Noting that, prior to the attack, defense officials said there was no intelligence that Iran would attack U.S. bases in the region after being attacked by Israel. Trump also claimed that the U.S. intended to wipe out Iran's military. Trump: "They’re going to be in for a lot of hurt. First we have to finish off the military."
Trump claimed the U.S. had an "unlimited" supply of ballistic missiles.
Even if there was an unlimited supply of those costly weapons, Iran may also have what amounts to an unlimited supply of drones hidden in bunkers throughout the country, with manufacturing capabilities underground as well. Ukraine has continued manufacturing drones for over 4 years since Russia invaded in February 2022.
And, what happens when the U.S. runs out of targets to hit with those expensive missiles? Iranian forces have scattered to make themselves more difficult targets and are operating under a decentralized common structure. IRGC command structure decentralized to survive strikes | The Jerusalem Post
A War Begun on Instinct - The Atlantic
Trump says he wants to be involved in picking Iran's next leader This statement will receive a lot of media attention throughout the world. Trump to The Atlantic: 'I run the country and the world' Trump stated earlier this week that no Iranian leader will survive for long without his approval. Here's What Trump Has Said About Iran's New Supreme Leader | TIME
Trump says "I run the country and the world" in interview with The Atlantic - YouTube
Trump says there will be no deal with Iran except 'unconditional surrender' So how is Our Dear Leader going to cause this unconditional surrender, which historically happens only after a successful invasion by ground troops?
$3.7 Billion: Estimated Cost of Epic Fury’s First 100 Hours; Here’s how much the war with Iran is expected to cost every day (about $890M)
Without question, Iran's military power and those of its proxies have been substantially degraded by the U.S. and Israel since the Hamas terrorist attack on Israeli civilians back in October 2023.
There is no reason to worry, or to feel the slightest degree of anxiety, since Our Dear Leader had told us the U.S. has already won the war as of 3/7/26:
Bush arrives on carrier for 'end of war' speech - YouTube 5/1/2003 At least Bush waited for more than a few days before making that premature announcement.
Trump says it's 'too soon' to talk about seizing Iran's oil — but doesn't rule it out
The New Era of Drone Warfare Takes Root in Iran | Council on Foreign Relations Noting that Lockheed manufactured 600 Patriot missiles in 2025. Those missiles cost $4M each and are used to shoot down Shahed-136 drones costing Iran about $35,000 each.
Drinking water warning issued for millions as Iran war threatens supply - Newsweek
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"Cuba will fall very soon," says Trump as Shield of the Americas alliance Trump noted that the regime in Cuba is its last moments. He would not rule out a friendly takeover of Cuba. Trump says that Marco is negotiating with the regime and Trump represented "will be reached very easily". So, just interpreting what he said about Cuba in recent historical context, Cuba is going to become the 53rd state, with Canada being #51 and Greenland at #52, thought the order of takeovers, friendly or otherwise, remains in doubt.
Senator Lindsey Graham (R-SC) "If we get in a fight, I want to win it quick. I'm in Miami. You see this hat? 'Free Cuba.' Stay tuned. The liberation of Cuba is upon us. We're marching through the world. We're clearing out the bad guys. Cuba is next."
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US commander said Trump "anointed by Jesus" to attack Iran- Newsweek; Commanders Accused of Framing Iran War as Biblical Mandate, Jesus' 'Return'-Military.com Religious zealots in the military are worrisome.
Trump’s War of Choice - YouTube; Tom Nichols: There Are 500 Ways This War Goes Wrong - YouTube There is considerable uncertainty that will have an impact on business and consumer spending decisions, along with the other risks that existed prior to Trump starting this war. The odds of a recession this year have increased due to this war.
Spain prevented Trump from using U.S. bases in Spain to attack Iran Our Dear Leader responded with this directive: "We’re going to cut off all trade with Spain. We don’t want anything to do with Spain." Trump says US will cut all trade with Spain after its refusal to let bases be used for Iran strikes | The Times of Israel; U.S. will 'cut off all trade with Spain,' Trump says - YouTube Trump claimed that he did not need permission. Trump claims US doesn't need permission to use Spain's military bases | ABC NEWS - YouTube
Trump: Spain rejects U.S. claim it agreed to cooperate amid Iran war Based on history, no representation made by Trump and his top officials are worthy of belief without independent and reliance evidence supporting whatever claim is being made by them. Trump IMO is the primary source of Fake News in the world today.
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Targeting of law firms and lawyers under the second Trump administration - Wikipedia
I have discussed this topic in several previous posts and YouTube videos.
My Videos: Trump's personal vendetta campaign against lawyers violates the 1st, 5th and 6th Amendments - YouTube; Trump Penalizes the Law Firm Jenner & Block for Providing Constitutionally Protected Representation - YouTube; Trump's Ongoing Efforts to Extort U S Major Law Firms in Violation of the Constitution - YouTubeTrump drops appeal in win for law firms that resisted sanctions After filing a motion to dismiss the appeals, the DOJ filed another document within a day seeking to withdraw its motion to dismiss the appeals. In quick reversal, DOJ seeks to continue Trump's battle with law firms This would indicate to me that Trump ordered the reversal.
Trump abused the power of the Presidency to coerce major U.S. law firms into providing free legal advice to parties selected by Trump.
Our Dear Leader issued Executive Orders banning lawyers employed by the targeted firms from entering into federal buildings (federal courthouses and federal agencies), preventing businesses that do business with the government from hiring those firms or firing them if currently employed, and barring lawyers who worked at those from firms from federal employment. In order to avoid those punitive sanctions, the law firm would have to provide free legal advice to clients selected by Trump. Only a fascist leader would issue those kind of orders.
Where is the republican push back? It does not exist - as one would expect. Why? Trump's party is not a conservative one in the American tradition. True conservatives would be appalled by what Trump is doing.
For the 9 law firms who submitted to that extortion without a fight, just a bunch of wimps IMO, the value of the free legal services was about $940 million.
Some major law firms refused to bend a knee to Our Dear Leader and filed lawsuits claiming that Trump had violated their 1st, 6th and 5th Amendment Due Process constitutional rights.
Every District Court granted summary judgments to those law firms finding that Trump had violated their constitutional rights, which was the only correct ruling.
Notwithstanding the obviousness of Trump's constitutional violations, Trump had the DOJ appeal those summary judgments and will lose every one of them in the Appellate Court. Trump has flagrantly violated the constitutional rights of those law firms and their lawyers.
If the the Appellate Court allows the DOJ to continue its appeal after filing a motion to withdraw it, which I expect, and the Court affirms the lower court ruling granting summary judgments to the law firms, then that result will justifiably be cited in one of the many articles of impeachment that would pass the House, assuming the Democrats regain control after the midterms which is looking increasingly likely, notwithstanding the ongoin republican efforts to prevent that from happening.
Trump is probably relying on his belief that the 6 Monarchists on the Supreme Court will reverse the lower courts. The Monarchists may view that as a bridge too far, even for them, notwithstanding their quest to create Kingly powers for the President that King George would have envied in 1776. It is just a coincidence this is being done with Trump as the President or so they say. Justice Gorsuch on the near absolute immunity for Presidential crimes: We are writing a "rule for the ages", which just happens to help Trump win re-election.
Judge voids VOA layoffs, rules Kari Lake Acted Unlawfully Trump and his Administration have normalized unlawful actions.
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Pentagon-Anthropic fallout: Defense tech moves away from Claude Dictator Don has threatened defense companies who continue using Anthropic products since that company refused Trump's request to use its AI products in mass surveillance of U.S. citizens. This is another abuse of Presidential power.
Anthropic sues Trump administration over Pentagon blacklist
Pete Hegseth Treats Fallen American Soldiers as a PR Problem - The Atlantic Hegseth commenting on the fallen U.S. soldiers in the Iranian War: When a few drones get through or tragic things happen, it’s front-page news. I get it. The press only wants to make the president look bad".
RFK Jr, the wingnut in charge of the Department of Health and Human Services, suggested that Dunkin Donuts may need to prove the safety of its coffee. Mass. Governor Has Blunt 4-Word Response to RFK Jr.’s Dunkin’ Comments - Newsweek
Breaking Down Trumps Plan To Rig The Midterms (with Marc Elias) - YouTube
Trump hints U.S. will turn to Cuba after Iran: 'A question of time'; As Trump says Cuba 'is going to fall,' his administration explores criminal charges
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Kristi Noem may be best remembered as someone best forgotten. Maybe an eulogy for her tenure at DHS is in order. Sure she was unqualified, but her loyalty to Trump, who is loyal to no one, was unassailable.
I don't think she was fired for her alleged affair with her special government employee Corey Lewandowski, her prioritizing deportations over every other duty which was what Trump wanted, the luxury plane she used to travel, or anything that happened in Minneapolis including her false statements made about the Renee Good and Alex Pretti killings. Trump could care less about the deaths and physical injuries caused by his paramilitary forces.
I believed she was fired because she testified under oath that Trump authorized her to spend $220+M that featured her warning unlawful immigrants
The ad featured her riding a horse through a forest near Mount Rushmore decked in out in western clothes. Noem out as DHS chief after $220M Mount Rushmore ad controversy - YouTube
Then there is another issue involved with that advertising campaign as previously discussed. Kristi Noem-Tied Firm Secretly Got Piece of $220 Million DHS Campaign — ProPublica Capos are not supposed to implicate the Mob Boss.
Trump claims that he knew nothing about that ad campaign. Since neither Kristi Noem nor the current President of the U.S. are credible IMO, it is impossible to know which one is telling the truth on this matter without reliable and independent confirmatory evidence.
Most republicans believe Trump is honest, and that provides important information about them. What Trump Has Done to Our Politics - The Survey Center on American Life The percentage of republicans who believe Trump is honest has recently declined from over 80% to around 70%. The last PEW poll asking that question had the percentage at 69%, page 2 Partisan divides in perceptions of Trump’s traits, while other polls have the percentage in the low 70% range. The belief that Trump is a good role model for children has declined from almost 80% to 56% of republicans in that last PEW poll.
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GOP Congressman Says ‘Muslims Don’t Belong In American Society’ The Congressman Andy Ogles is my representative in Congress. He had some issues similar to George Santos as well as many others. Andy Ogles - Wikipedia
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The FBI has subpoenaed records relating to an audit of the Maricopa County 2020 election results. Trump administration subpoenaing Arizona 2020 voting records, as Trump pushes to consolidate election power - POLITICO
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1. Eliminated 1 of 2 Positions in CUBE - Sold 25+ at $41.38:
Quote: CubeSmart (CUBE) at Google Finance
Proceeds: $1,048.42
Any transaction that exceeds $1,000 is not classified as a small ball trade and consequently receives its own Item number.
Investor Relations | CubeSmart, L.P.
Investment Category: Equity REIT Common and Preferred Stock Basket Strategy
Management: Internal
2025 SEC Filed Annual Report As of 12/31/25, the company "owned (or partially owned and consolidated) 662 self-storage properties located in 25 states and in the District of Columbia containing an aggregate of approximately 48.4 million rentable square feet". The company "managed 862 stores for third parties (including 49 stores containing an aggregate of approximately 3.3 million rentable square feet as part of five separate unconsolidated real estate ventures) bringing the total number of stores we owned and/or managed to 1,524." Pages 6-7
Last Discussed: Item # 1.H. Added to CUBE in Schwab Account - Bought 5 at $36; 5 at $35.6 (12/11/25 Post); Item # 1.B. Added to CUBE in Schwab Account - Bought 5 at $37.36; 5 at $36.7 (12/5/25 Post)
Profit Snapshot: $113.34
Dividend: Quarterly at $.53 per share ($2.12), last raised from $.52 effective for the 2026 first quarter payment.
CUBE Stock Dividend History & Date | Seeking Alpha
CubeSmart Declares First Quarter 2026 Dividend
Last Ex Dividend: 1/2/26 (owned all as of)
Last Earnings Report (Q/E 12/31/25): Investors had a positive reaction for week ending on 2/27/26, which I do not understand. My reaction was slightly negative.
CubeSmart Reports Fourth Quarter and Annual 2025 Results
Revenues: $234.703M, down from $234.868M
Total Operating Expenses: $65.004M, up from $63.2M
Period end occupancy: 88.6%. down from 89.3%
Realized Rent per occupied square foot: $22.95, up from $22.86
FFO per share: $.63, down from $.68
Adjusted FFO per share: $.64, down from $.68
Reconciliation:
Last Sell Discussions: Item # 1.K. Sold 1 CUBE at $50.25 - Fidelity Account (12/5/24 Post)(profit snapshot = $28.48); Item # 1.L. Sold 1 CUBE at $53.15 - Fidelity Account (9/24/21 Post)(profit snapshot = $31.38); Item # 3.E. Pared CUBE - Sold 3 at $47.49 (7/23/21)(profit snapshot $77.16)
Currently Owned CUBE LP SU Bonds guaranteed by CUBE:
2 of the 3.125% Maturing on 9/1/26, discussed at Item # 2.C. Bought 2 CubeSmart LP 3.125% SU Maturing on 9/1/26 at a Total Cost of 97.17 (11/14/24)
4 of the 4.375% Maturing on 2/15/29, Bond Page | FINRA.org; last discussed a Item # 2.F. Bought 2 CubeSmart LP 4.375% SU Maturing on 2/15/29 at a Total Cost of 98.093 (4/4/25 Post)(YTM at TC than at 4.92%); Prospectus
I had 10 CubeSmart LP SU notes mature on 11/15/25: +$155.36 "profit"
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Remaining CUBE Shares - Taxable Account: I still own shares in my Fidelity taxable account. The original tax cost basis for those shares have had some ROC adjustments that have reduced the tax cost basis to $20.79:
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| Closing Price as of 2/27/26 |
I last discussed purchasing shares in that account here: Item # 2.E. Bought 10 CUBE at $22, 2 at $21.55, 1 at $19.74 (4/25/20 Post) Using that tax cost basis of $20.79 and the current $2.12 annual dividend, the yield is 10.197%.
2. Small Ball Stock/Stock Fund Sales:
A. Pared NNN in Fidelity Account - Sold 10 at $45.75:
Quote: NNN REIT, Inc. (NNN) at Yahoo Finance
Proceeds: $457.6
Original Cost: $435.97
2025 SEC Filed Annual Report "NNN acquires, owns, invests in and develops high-quality properties that are leased primarily to tenants under long-term, net leases, with minimal ongoing capital expenditures and are primarily held for investment . . . NNN owned 3,692 Properties in all 50 states, the District of Columbia and Puerto Rico, with an aggregate gross leasable area of approximately 39,578,000 square feet and a weighted average remaining lease term of 10.2 years as of December 31, 2025. As of December 31, 2025, 98.3 percent of the Properties were leased." Page 2
I sold my highest cost shares profitably based on my original cost basis:
Last Buy Discussions: Item # 1.C. Added to NNN in Fidelity Account - Bought 5 at $40.39 (12/11/25 Post)(discussed the 2025 third quarter report, SEC Filed Press Release); Item # 1.H. Added to NNN - Bought 5 at $39.64 (1/22/25 Post); Item # 2.F. Added to NNN - Bought 1 at $37.63; 1 at $36.67; 1 at $35.32; 2 at $34.95 (9/30/23 Post)
Last Sell Discussion: Item #2.L. Sold 1+ NNN at $46.18 (8/8/24 Post)
Website: Increasing Dividends | NNN REIT
Retail Properties | Our Portfolio | NNN REIT
Top 20 Tenants:
SEC Filed Supplemental for the Q/E 12/31/26 at page 18
Profit Snapshot: $22.86
Profit with non-ROC Adjusted Cost Basis: $21.63
New Average Cost per share this account: $39.36 (36+ shares)
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| Closing Price as of 3/3/26 one day after pare |
Reduced from $40.246
Dividend: Quarterly at $.60 per share ($2.4 annually), last raised from $.58 effective for the 2025 third quarter payment.
NNN REIT, Inc. (NNN) Dividend History & Date | Seeking Alpha
In the 2016 first quarter, the quarterly dividend was at $.435.
2025 Dividend Classifications:
Yield at New AC per share: 6.1%
Last Ex Dividend: 1/30/26 (owned all as of)
Last Earnings Report (Q/E 12/31/25):
SEC Filed Press Release and SEC Filed Supplemental (page 11: 36 consecutive years of dividend increases)
Revenues: $238.398M
GAAP E.P.S. $.51
FFO and AFFO per share = $.87
FFO and AFFO will generally be close to one another due to the net leases.
Reconciliation:
Weighted average remaining lease term: 10.2 years
2026 Guidance: AFFO per share $3.52-$3.58
B. Pared SAFE in Schwab Account - Sold 10 at $16.43:
Proceeds: $164.3
Website: Safehold - The Modern Ground Lease Company
Current Safehold Portfolio | Safehold
Investment Category: Equity REIT Common and Preferred Stock Basket Strategy
Last Buy Discussions: Item # 1.F. Added to SAFE in Fidelity Account - Bought 5 at $12.95 (11/29/25 Post); Item # 1.A. Added to SAFE in Schwab Account - Bought 5 at $13.1; 5 at $12.85 and Item # 1.B. Added to SAFE in Fidelity Account - Bought 5 at $13.3 (11/15/25 Post)
Profit Snapshot = $11.21
New Average cost per share this account: $13.98 (40+ shares)
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| Snapshot Intraday on 2/27/26 after pare |
Reduced from $14.24.
Dividend: Quarterly at $.177 per share ($.708 annually)
Safehold Inc. (SAFE) Dividend History & Date | Seeking Alpha
Yield at New AC per share: 5.064%
Last Ex Dividend: 12/30/25
I discussed the 2025 4th quarter report in 2/23/26 post. Item # 1.E. Pared SAFE in Schwab Account - Sold 5 at $16 (2/23/26 Post)(profit snapshot = $2.58); SEC Filed Press Release; SEC Filed Supplemental
C. Pared PRPFX Again - Sold 5 at $83.09:
Quote: Permanent Portfolio Investor Class (PRPFX) at MSN Money
Proceeds: $414.45
Last Discussed: Item # 1. Pared PRPFX Again - Sold 5 at $82.05; 5 at $80.9 (1/29/26 Post)(profit snapshot = $405.13).
PRPFX is classified as a moderate allocation fund.
SEC Filed Annual Report for the F/Y Ending 1/31/25
PRPFX-Morningstar (5 stars, classified as a moderate allocation fund). The rating is based on performance within that classification.
PRPFX Portfoli0 -Morningstar Lists top 10 equity holdings. Click the "Others" tab to see the gold and silver bullion data. Click the "Bond" tab to see the top 13 bond holdings.
SEC Filing: Holdings as of 10/31/25
The allocation target for gold and silver bullion is 25%, 30% for common stocks, 10% for Swiss Franc assets and 35% for Dollar Assets: Sponsor's website: The Permanent Portfolio Family of Funds
The "Dollar Assets" consist of investment grade corporate bonds and treasuries weighted at 33.3% as of 10/31/25, see Holdings at pags 5-8 Those holdings consist of investment grade corporate bonds, mostly short term, and U.S. treasuries (bills notes and bonds)
Swiss government bonds were weighted at 7.42%.
Gold and silver bullion had a 25.93% weighting.
Real estate and natural resource stocks were weighted at 14.6%.
"Aggressive Growth" stocks were weighted at 18.03%, bringing the common stock allocation up to 32.63%. I would not characterize most of the stocks included in the "Aggressive Growth" category as fitting that description.
Average cost per share: $40.96 (175+ shares)
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| Snapshot after pare/Closing Price as of 3/4/26 |
Since I am using average cost per share as my cost method, and have not bought any shares for years, my AC per share will remain unchanged with each pare.
Dividends: Paid Annually. I have been taking the dividend in cash for several years.
PRPFX Stock Dividend History & Date | Seeking Alpha
Dividends Paid 2020-2025: $8.51 per share
I have been taking the dividends in cash.
Last Ex Dividend: 12/4/25 ($2.4457 per share)
Sell Discussions: Item # 2.A. Sold 10 PRPFX at $74.05 (10/18/25 Post)(profit snapshot = $330.87); Item # 5.E. Sold 2 PRPFX at $72.67 (9/27/25 Post)(profit snapshot = $63.41); Item # 2.C. Pared PRPFX - Sold 5 at $68.4 (8/5/25 Post)(profit snapshot = $137.19); Item # 1.B. Sold 10 PRPFX at $68.09 (7/3/25 Post)(profit snapshot = $271.28); Item # 3.E. Pared PRPFX - Sold 10 at $67.16 (6/12/25 Post)(profit snapshot = $261.97); Item # 2.A. Sold 125+ PRPFX at $40.22 (8/7/2017 Post)(profit snapshot = $308.84); Item # 1. Sold 10 of 237+ PRPFX at $66.01 (5/16/25 Post)(profit snapshot = $250.48)(In that post, I included snapshots of prior realized gains including $590.26 in 2015 which is also included in the total below)
PRPFX Realized Gains to Date: $2,619.43
Quote: Bar Harbor Bankshares (BHB) at Yahoo Finance
Proceeds: $332.8
BHB is a bank holding company that wholly owns Bar Harbor Bank & Trust which has 62 full service branches located in Maine, Vermont and New Hampshire. Map and Data at page 7, November 2025 Investor Presentation.pdf
I still own shares in my Fidelity account.Item # 1.D. Restarted BHB in Fidelity Account (10/24/25 Post)(discussed third quarter earnings report in that post, SEC Filed Earnings Press Release)
BHB: Detailed Earnings Estimates - Zacks.com As of 3/6/26, the average E.P.S. estimate for 2026 was at $3.6 and at $3.9 for 2027.
Investment Category: Regional Bank Basket Strategy
BHB SEC Filing5 year chart: This chart suggests a trading strategy rather than a long term hold IMO.
While my realized gains in BHB are in the #1 position in my regional bank basket strategy, those gains were concentrated in trades made prior to 2020.
Regional bank stocks earnings were pressured down by the surge in interest rates starting in 2022 through most of 2024 that compressed net interest margins. As previously discussed here many times, the net interest margins of banks narrowed significantly as a result of the rapid increase in interest rates starting in 2022 that required them to pay far more to depositors compared to when ZIRP and Q/E kept deposit rates near zero. The banks also owned very low yielding securities, with a significant emphasis on mortgage backed loans whose duration increased as interest rate loans causing massive unrealized losses.
The preceding chart highlight a going nowhere movement with a lot of up and down chop, reflecting the poor operating conditions over the past five years. Most of the prices are in a channel with a $25 low and a $32 high.
Starting in July 2024, most of bottom formations are in the $28-$29 price range which is where I will consider restarting a position. Tops are near $36 since this channel started. Even though I eliminated a position at $33.28, below the top range, this was due to my assessment of risks to the stock market which has resulted in selling common stocks. During major downturns, few stocks, even those fairly valued, will be taken down with a strong downtrend in the major stock indexes.
Profit Snapshot: $40.3
Last Discussed: Item # 1.K. Added to BHB in Schwab Account - Bought 5 at $29 (11/22/26 Post)
Dividend: Quarterly at $.32 per share
BHB Stock Dividend History & Date | Seeking Alpha
Last Ex Dividend: 2/20/26 (owned all as of)
Last Earnings Report (Q/E 12/31/25):
Comparisons are to the 2024 4th quarter.
E.P.S. $.70, down from $.72
Adjusted E.P.S. $.93, up from $.72
NIM: 3.62%, up from 3.17%, positive uptrend
Efficiency Ratio: 57.24%, down from $59.84 (down is better)
NPL Ratio: .32%, up from .22%
NPA Ratio: .29%, down from .31%
Charge Off Ratio: .03%, up from .02% (excellent)
Tangible Book Value per share: $22.41, up from $21.93
Stock Splits: I owned shares when there was a 3 for 2 stock split in May 2014 and another 3 for 2 split in March 2017.
Sell Discussions: Item # 2.C. Eliminated BHB - Sold 20 at $24.93 (3/8/24 Post)(profit snapshot = $169.35); Item # 4.D. Pared BHB in Fidelity Account - Sold 10 at $30 (12/6/22 Post)(profits snapshot = $79.15); Item # 3.L Sold 5 of 45 BHB at $30 (8/16/22 Post)(profit snapshot = $38.58); Item # 1.I. Pared BHB-Sold 10 at $28.5 and 5 at $30.5-highest cost lots in Fidelity Taxable Account (3/20/21 Post)(profit snapshot = $95.46); Item # 3.A. Pared BHB-Sold 40 at $24.48-highest cost lots in Fidelity taxable account (12/5/20 Post)(profit $38.17); Item # 3.B. Eliminated BHB-Sold 54+ Shares at $26.34 (5/18/19 Post)(profit snapshot = $131.1); Item # 1.A. Sold 100 BHB at $30.69-Used Commission Free Trade (7/15/18 Post)(profit snapshot = $1,718.56); Item # 1.A. Sold 50 BHB at $30.02 (5/21/18 Post)(profit snapshot = $666.96); Item #3.A. Sold 100 BHB at $29.55 (4/26/18 Post)(profit snapshot = $682.94); Item # 1. A. Sold 30 BHB at $29.42 (3/25/18 Post) (profit snapshot =$41.02); Sold 100 BHB Update For Regional Bank Basket Strategy As Of 5/6/2016 - South Gent | Seeking Alpha (profit snapshot = $936.96)
BHB Realized Gains to Date: $4,943.3
E. Pared TGT - Sold 1 at $120 - Schwab Account:
Quote: Target Corporation (TGT) at Yahoo Finance
Target has close to 2,000 stores.
I discussed this sale in a comment published on 3/3/26.
TGT: Target - Detailed Earnings Estimates - Zacks.com
Last Discussed: Item # 1.K. Pared TGT - Sold 1 at $113.84 - Highest Cost Lot (2/11/26 Post)(profit snapshot $17.41)
Last Buy Discussions: Item # 1.H. Added to TGT - Bought 1 $88.88 (9/21/25 Post); Item # 3.G. Added to TGT - Bought 1 at $90.31 (9/13/25 Post)
Profit Snapshot: $26.03
New Average cost per share: $90.34
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| Closing Price as of 3/4/26 after pare |
TGT Stock Dividend History & Date | Seeking Alpha
Yield at $90.34: 4.94%
Last Earnings Report (Q/E 1/30/26):
SEC Filed Press Release This is the 4th fiscal quarter of the 2026 fiscal year.
Revenue: $30.453B, down 1.5%
GAAP E.P.S. $2.3, down from $2.41
Fiscal 2026 GAAP E.P.S. $8.13, down from $8.66
Non-GAAP E.P.S.: $2.44, up from $2.41
Fiscal 2026 Non-GAAP E.P.S. $7.57, down from $8.86
Traffic declined 2.9%
Comp sales declined 2.5%
Traffic decline in fiscal 2026 was at 2.2%
Target has 45 owned brands amounting to almost 1/3rd of sales with higher margins than national brands.
Guidance:
The new CEO is confident that a successful turnaround is in progress. I am skeptical.
Analyst Reports (available to Schwab customers):
Morningstar (3/3/26): 3 stars with estimated fair value of $118 and no moat.
S&P (3/4/26): 3 stars with a 12 month PT of $130, raised from $106 in response to the last earnings report.
Argus (3/5/26): Buy, raised 12 month price target to $145 from $125 in response to the last earnings report.
G. Pared JRI - Sold Highest Cost 10 Shares at $13.18:
Quote: Nuveen Real Asset Income and Growth Fund (JRI) at Yahoo Finance
Proceeds: $131.8
This fund owns common stock, preferred stock and bonds issued by real estate and infrastructure companies.
Investment Category: Monthly Income Generation
Sponsor's website: Nuveen Real Asset Income and Growth Fund | Closed End Fund | Nuveen
Leveraged: Yes at 31.6% as of 1/31/26
Number of Holdings as of 1/31/26: 459
Asset allocations as of 1/31/26:
Credit Quality: Heavy junk weighting
Nuveen Real Asset Income and Growth (JRI) Portfolio | Morningstar Lists top 23 holdings, accessible to non-subscribers.
Nuveen Real Asset Income & Growth Fund - SEC filed shareholder report for the period ending 6/30/25. The JRI holdings list starts at page 52. Leverage is described at pages 87-89.
Some Buy Discussions: Item # 2.A. Added to JRI - Bought 10 at $10.85 - Vanguard Account (4/19/24 Post); Item # 1.A. Added to JRI - Bought 50 at $11.5 (3/22/24 Post); Item # 2.F. Added to JRI - Bought 10 at $9.98; 10 at $9.74 in Vanguard Taxable Account (10/28/23 Post); Item # 1.H. Added to JRI - Bought 10 at $11.09 (9/9/23 Post); Item # 1.F. Bought 20 JRI at $11.3 (9/2/2023 Post); Item # 6.A. Bought 10 JRI at $10.98 in Vanguard Taxable Account (11/1/22 Post)
Last Discussed: Item # 2.B. Sold Highest Shares: 10 at $14.08; 10 at $14.32 (10/4/25 Post)(profit snapshot = $66.51) As noted in that post, the price was then at a premium to net asset value per share. Most of the price decline since those sales is due to that premium evaporating (+4.14% on 10/1/25) and the price moving to a 6.95% discount as of 3/2/26. I will seriously consider selling shares in a CEF when the price moves into a premium to net asset value per share.
Profit Snapshot: $35.44
New Average cost per share: $8.68 (110+ shares)
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| Snapshot Intraday Day 3/4 after pare/Price at $13.01 |
Dividend: Monthly at $.1335 per share ($1.602 annually)
JRI Dividend History & Date | Seeking Alpha
Some ROC Support.
I am no longer reinvesting the dividend.
Yield at $8.68: 18.46%
Last Ex Dividend: 3/2/26 (sold on ex dividend date)
Data Date of 3/2/26 Trade:
Closing Net Asset value per share: $14.16
Closing Market Price: $13.19
Discount: -6.85%
Average 3 year Discount: -8.03%
Sourced: JRI - CEF Connect (Click "Pricing Information" Page)
Some Other Sell Discussions: Item # 1.F. Pared JRI - Sold 10 at $13.75; 10 at $13.98 - Vanguard Account (9/13/25 Post)(profit snapshots = $59.62); Item # 1.C. Pared JRI Again - Sold 10 at $13.48 (9/8/25 Post)(profit snapshot = $21.04, contains snapshots of prior roundtrips); Item # 4.A. Sold Highest Cost 10 JRI Shares at $13.36 and Item # 4.B. Eliminated Duplicate Position in JRI - Sold 20 at $13.35 (8/26/25 Post)(profit snapshots = $72.95); Item # 3.A. Eliminated JRI in my Fidelity Taxable Account - Sold 130 at $12.13 (3/11/23 Post)(profit snapshot = $184.6); Item # 1.I. Pared JRI Again-Sold 12.661 shares at $16.31-Remaining Shares Bought With Dividends in Fidelity Taxable Account (10/1/21 Post)(profit snapshot = $53.03); Item # 2.C. Pared JRI-Sold 22.235 at $16.11(8/6/21 Post)(profit snapshot = $42.31); Item # 2.A. Pared JRI-Sold 30 at $15.9-highest cost shares (6/19/21 Post)(profit snapshot = $14.73); Item # 1.K Eliminated JRI in Schwab Taxable Account-Sold 100 at $11.48 (6/6/20 Post)(profit snapshot = $69.35); Item # 2.A. Sold 102+ JRI at $17.98 (12/22/19 Post)(profit snapshot = $140.67); Item # 1.A. Sold 100 JRI at $17.51(10/30/19 Post)(profit snapshot = $100.41); Item # 4 Sold 100 JRI at $17.23 (10/2/19 Post)(profit snapshot = $40.45). Some profitable sales, including all made in Roth IRA Accounts, were not discussed here.
I do not view leveraged CEFs whose dividends have a significant ROC source as long term holds. The reason is reflected in the preceding trading history. The goal is simply to earn a return in excess of the dividend payments prior to any ROC adjustments to the tax cost basis. That requires some luck and a fair amount of trading.
JRI Realized Gains to Date: $1,011.27
This CEF recently had what is called a transferable rights issue which grants shareholders the right to buy shares at a specific price. SEC Filing ("Subscription price will be based upon a formula equal to the higher of 95% of the average market price on expiration date and the four preceding trading days or 90% of net asset value on expiration date.") This is not worth the trouble given the number of shares that I own, particularly when the share price is at a narrow discount to the net asset value per share. Whenever that happens, I sell the rights just to receive something since I will not exercise them:
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| Snapshot Intraday on 3/6/26 after pare |
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2 of the 4.35% SU Maturing on 3/15/29; Bond Page | FINRA.org
I did not discuss this purchase, made in my Fidelity Account, at a total cost of 97.938.
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2 of the 5.05% Maturing on 11/1/34, Bond Page | FINRA.org; Item # 4.C. Bought 2 Oneok 5.05% SU Maturing on 11/1/34 at a Total Cost of 99.325 (2/11/26 Post)
Recently Owned OKE SU Bonds That Have Matured:
2025: 4
2024: 10 (2 in a RI account)
3. Treasury Bills Purchased at Auction:
A. Bought 15 Treasury Bills at the 3/4/26 Auction - 2 Accounts:
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119 Day Bills
Matures on 7/7/26
Interest: $178
Investment Rate: 3.684%
B. Bought 20 Treasury Bills at the 3/9/25 Auction:
182 Day Bill
Matures on 9/10/26
Interest: $357.43
Investment Rate: 3.649%
C. Bought 5 Treasury Bills at the 3/9/25 Auction:
91 Day Bill
Matures on 9/10/26
Interest: $45.56
Investment Rate: 3.689%
4. Equity Preferred Stocks:
A. Started Duplicate SLGPRI Position in Fidelity Account - Bought 10 at $21.9:
Quote: SL Green Realty 6.50% Per Cumulative Preferred Series I (SLGPRI) at Google Finance
Cost: $219
Investment Category: Advantages and Disadvantages of Equity REIT Cumulative Equity Preferred Stocks, part of the Equity REIT Common and Preferred Stock Basket Strategy
Issuer: SL Green Realty (SLG) at MSN Money
SLG SEC Filed Report for the Q/E 12/31/25
SLG SEC Filed 2025 Annual Report
Homepage - SL Green - NYC's Largest Commercial Landlord
Last Discussed: Item # 5.D. Added to SLGPRI in Schwab Account - Bought 5 at $20.95 (12/18/25 Post)
Coupon: 6.5%
Par Value: $25
Dividends: Paid quarterly, non-qualified (pass through entity) and cumulative
Optional Call: Call protection expired in 2017. The stock may be called at par value + the accrued and unpaid dividend.
Stopper Clause: Standard. The Stopper Clause prevents the deferral of the cumulative preferred dividend as long as the company pays a cash common share dividend or uses cash to buy back common stock. The Clause enforces the preferred shareholders preferential claim to cash compared only to the common shareholder.
Maturity: None, potentially perpetual
Preferred Stock Credit Ratings: Well into junk territory at BB- from Fitch
Fitch Affirms SL Green Realty Corp. at 'BB+'; Outlook Positive (9/5/25)
Yield at $21.9: 7.42%
Computation: .065% coupon x $25 par value = $1.625 annual dividend per share ÷ $21.9 cost per share = 7.42%
Last Ex Dividend: 12/31/25
SLG.PR.I Dividend History & Date | Seeking Alpha
Last Buy Discussions: Item # 5.A. Added to SLGPRI - Bought 5 at $20.94(6/28/24 Post);Item # 6.A. Added to SLGPRI in Schwab Account - Bought 3 at $17.5; 2 at $17.27 (11/25/23 Post); Item # 5.C. Added 2 SLGPRI at $17.99 (11/18/23 Post)
Sell Discussions: Item # 5.A. Eliminated Duplicate Position in SLGPRI - Sold 15 at $21.28-Fidelity Account (1/20/24 Post)(profit snapshot = $62.49); Item # 3.A. Eliminated SLGPRI-Sold 20 at $25.96 (9/12/20 Post)(profit snapshot = $122); Item # 5 Sold 50 SLGPRI at $23.6 (4/3/2014 Post)(profit at $29.58).
SLGPRI Realized Gains to Date: $213.77
B. Added 5 ATHPRB at $19.1- Fidelity Account:
Quote: Athene Holding Depository 5.625% Non-Cumulative Preferred Series B (ATHPRB) at Google Finance
Cost: $95.5
Last Discussed: Item # 5.B. Started ATHPRB in Schwab Account - Bought 10 at $19.85; 5 at $19.65 (2/11/26 Post)
Issuer: Athene Holding Ltd. - private company owned by Apollo Global Management (APO)
While Athene is a privately owned company, financial results are filed with the SEC since the company has sold bonds and preferred stocks to the public.
Placement in Capital Structure: Equity Preferred Stock, senior only to common stock and junior to all bonds and credit facility borrowings.
Coupon: 5.625% paid on a $25 par value.
Dividends: Qualified, non-cumulative and paid quarterly.
Optional Call Date: On or after 9/30/24. I do not anticipate that this preferred stock will be called at par value. Currently, the company is having to pay higher coupons for senior unsecured bond and junior bonds.
Fitch has a BBB-. Fitch Affirms Athene's Ratings; Outlook Stable (8/20/25)
New Average cost per share this account: $19.39 (10 shares)
Yield at $19.39: 7.295%
Calculation: .0565% x. $25 par value = $1.4125 annual dividend per share ÷ $19.39 average cost per share = 7.2847%
Next Ex Dividend: 3/13/26
Owned SU Bond: I own 2 of the Athene Holding 4.125% SU Maturing on 1/12/28, Bond Page | FINRA.org
5. Small Ball Common Stock Buys:
A. Added to AES - Bought 10 at $14.27:
Cost: $142.7
AES agreed to be acquired for $15 per share in cash. This was significantly lower than than investors were expecting. Consortium Led by Global Infrastructure Partners and EQT Agrees to Acquire AES | AES
New average cost per share: $14.18 (40 shares)
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| Snapshot Intraday on 3/2/26 after add |
Dividend: Quarterly at $.1776 per share
AES Dividend History & Date | Seeking Alpha
"Dividends payable to AES stockholders are expected to continue in the ordinary course until the closing, subject to approval by AES’ Board of Directors."
Goal: While there is no 100% assurance that the merger will close at the $15 per share in cash, the total return with several dividend payments is acceptable to me assuming the deal close late in 2026 or early 2027 as currently projected.
The capital gain at a $15 cash price and a $14.18 average cost per share would be $.82 per share. If I received 3 more dividend payments, the total return would then by at per share or $1.35 (rounded down) or about 9.54% at my total cost per share.
There is always a possibility of regulatory opposition or regulatory conditions that are unacceptable.
B. Started BGR - Bought 10 at $15.64 - Schwab Account:
Quote: Blackrock Energy and Resources Trust (BGR) at Google Finance
Cost: $156.4
This is my first purchase.
I mentioned this buy in a comment published on 3/8/26.
WTI Crude (April 26): $77.41 +$6.18 (+8.68%); Oil Price Charts | Oilprice.com
Top 10 Holdings as of 2/27/26:
BGR Portfolio | Morningstar Lists top 24 holdings (accessible to non-subscribers)
BlackRock Energy and Resources Trust - SEC Filed Annual Report for the period ending 12/31/25. Blackrock includes several CEFs in this report. The information on BGR can be found at pages 6-8, 42-43. The fund could support its dividend by realized capital gains but does not do so. As of 12/31/25, the cost of investments was at $247.359+M with a market value of $361.619+M.
At page 42, all of the holdings can be captured with 1 snapshot:
Of the stocks owned by this fund, I have small ball individual positions in Canadian Natural Resources (CNQ), Chevron (CVX), Kinder Morgan (KMI), Pembina Pipeline (PBA), Suncor (SU), TC Energy (TRP) and Williams Companies (WMB).
Several of those positions have been pared down to low average cost per share numbers.
E.G. Suncor with a $12.92 AC per share.
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| Price as of 3/6/26 close |
Dividends: Monthly at $.0973 per share ($1.1676 annually)
BGR Dividend History & Date | Seeking Alpha
Next Ex Dividend: 3/13/26
Data Date of 3/4/25 Trade:
Closing Net Asset Value per share: $17.37
Closing Market Price: $15.65
Discount: -9.9%
Average 3 Year Discount: -9.1%
Sourced: BGR-CEF Connect (Click "Pricing Information" Tab)
I own another CEF that owns E&P and energy infrastructure stocks: Adams Natural Resources Fund Inc (PEO) at Google Finance. That CEF was formed just prior to 1929 crash. One significant difference in PEO compared to BGR is that PEO has a much larger weighting in non-energy related stocks, SEC Filed 2025 PEO Annual Report As of 12/31/25, the fund had a 19.7% weighting in "Material" which includes stocks in these sectors: chemical, packaging, construction materials, metal and mining whereas BGR was at a 2.5%.PEO had a 6.1% weighting in energy equipment and services which includes stocks like Halliburton and Baker Hughes, with BGR at a2.4% weighting. BGR is more of a pure play on E&P and energy infrastructure stocks.
Last PEO Discussion: Item # 1.G. Pared PEO - Sold 5 at $25.77 (2/17/26 Post)
I also own a small ball position in Fidelity MSCI Energy Index ETF (FENY) that I have pared down to just 10+ shares with an average cost per share at $8.28:
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| Closing Price as of 3/6/26 |
C. Started BGR in Fidelity Account - Bought 10 at $15.68:
See Item # 5.B. Above.
By owning this CEF in multiple accounts, I increase its price change visibility to me, making it more likely that I will actually see a price decline that will cause me to at least consider buying more shares. Another reason for duplicate positions in this CEF is just to invest the rising cash buildup into a a security that has more yield than the MM funds.
6. Leveraged Loan/Junk Bond CEF:
A. Added 10 JQC at $4.85:
Quote: Nuveen Credit Strategies Income Fund (JQC) at Google Finance
Cost: $48.5
Last Discussed: Item # 5.A. Added to JQC - Bought 10 at $4.98 (2/23/26 Post); Item # 6.A. Restarted JQC - Bought 50 at $5.1 (2/4/26 Post) I do not have much to add to recent discussions, other than to note there was a dividend cut as discussed below which may reduce the ROC support for the lowered dividend amount.
Last Elimination: Item # 5.A. Eliminated JQC - Sold 100 at $5.48 (7/29/25 Post)(profit snapshot = $48.25)
New average cost per share: $5.05 (70 shares)
Dividend: Monthly at $.0495 ($.594 annually), reduced from $.054 effective for the March 2026 payment.
Some ROC Support.
Yield at $5.05: 11.76% at reduced monthly rate.
Next Ex Dividend: 3/13/26
Data Date of 3/4/26 Trade:
Closing Net Asset value per share: $5.42
Closing Market Price: $4.86
Discount: -10.33%
Average 3 Year Discount: -7.79%
Sourced: JQC- CEF Connect (Click "Pricing Information" Tab).
Largest Annual Gain: Net of $587.09 in 2012
7. Bond ETFs:
A. Added to IBDU - Bought 5 at $23.38:
Quote: iShares iBonds Dec 2029 Term Corporate ETF (IBDU) at MSN Money
Cost: $116.88
Last Discussed: Item # 6.A. Bought 10 IBDU at $23.52 (2/23/26 Post) I will not be adding much to that recent discussion here.
Sponsor's website: iShares® iBonds® Dec 2029 Term Corporate ETF | IBDU
Expense Ratio: .1%
New Average cost per share: $23/48 (15 shares)
Dividends: Paid monthly at a variable rate
IBDU Dividend History & Date | Seeking Alpha
IBDU Portfolio – Morningstar - Lists top 25 holdings.
Last Ex Dividend: 3/2/26
Disclaimer: I am not a financial advisor, but simply an individual investor who has been managing my own money since I was a teenager. In this post, I am acting solely as a financial journalist focusing on my own investments. The information contained in this post is not intended to be a complete description or summary of all available data relevant to making an investment decision. Instead, I am merely expressing some of the reasons underlying the purchase or sale of securities. Nothing in this post is intended to constitute investment or legal advice or a recommendation to buy or to sell. All investors need to perform their own due diligence before making any financial decision which requires at a minimum reading original source material available at the SEC and elsewhere. A failure to perform due diligence only increases what I call "error creep". Stocks, Bonds & Politics: ERROR CREEP and the INVESTING PROCESS Each investor needs to assess a potential investment taking into account their personal risk tolerances, goals, and situational risks. I can only make that kind of assessment for myself and my family members.
