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I'll be turning 30 soon, and wanted to get some other opionions on my portfolio. It's a smattering of stocks and mutual funds. My goal is growth and capital preservation (yup I too lost a bunch in the early 2000's), and I've got some income in there to smooth out the portfolio and get some dividends to be consistantly reinvested. Here is the portfolio in size order. I've been looking at FAIRX as well and would like thoughts on this.

Taxable MFs:
ADVDX - Alpine Dynamic Dividend
CWGIX - American Funds Capital World Growth & Income
OAKBX - Oakmark Equity & Income
OAKIX - Oakmark Internatonal
OAKGX - Oakmark Global
FVDFX - Fidelity Value Discovery

Taxable Stocks:
MO
AAPL
KFT
WM
NFI
AINV

Tax Deferred:
OAKBX
ADVDX
ARTQX
CFIMX

Primary 401k holdings:
TRMCX
DODGX
LLSCX
VFINX
Pimco Bond Fund

Thanks!!
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In my view unless you have millions and millions (that mean mean at least 4 million) of dollars you have too darn many investments. I am not saying any are bad, I am saying just keeping up with that many funds and stocks will take a huge amount of time.

Gordon
Atlanta
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Thanks for the feedback, any thoughts on where to consolidate?
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You have some things there that I'm familiar with and like, some whose names/symbols I'm familiar with but don't really know and some I don't know at all. The funds I know and like are CFIMX (which I hold), OAKBX, OAKGX, OAKIX, DODGX and VFINX (none of which I hold). Among the stocks you listed, I pay attention only to AAPL which I hold.

Clipper (CFIMX) is a focused fund, meaning it holds far fewer stocks than a diversified fund. Twenty five or so vs. more than a hundred. A focused fund can do particularly well if they pick a few winners because the gains aren't spread across a broad holding. They can also be hit hard in a down time. Risk-reward, you know. Clipper's recent (past three years or so) performance suffered significantly when the former manager began looking for other things to do and stopped paying attention to their fiduciary responsibility to Clipper holders. Eventually they resigned, probably to start a hedge fund (I never checked). Davis and Feinberg took over and I was happy to see them hired because their other funds were on my short list for replacing Clipper in my port if I didn't like the new management. Clipper is one of my biggest holdings, whatever that may be worth.

Oakmark has a good record of stewardship and performance. I've never owned any Oakmark funds but they stay on my list of funds to keep considering.
OAKBX is a fund I'd probably not recommend to someone your age. It's too conservative. Morningstar likes it and I like the expense ratio and yield but you could do better switching from this to something a mite more aggressive.
Oakmark Global (OAKGX) is good, without question. Its expense ratio is good for a global stock fund and it's performed pretty well, too. However, being global, its holdings are sure to overlap holdings in your other US and foreign funds. This would be another fund to switch out of. Move the money to an international (all foreign) fund.
Oakmark International (OAKIX) is middle of its pack, very closely tracking its index for the past five years. Its size is large but not unsustainably large. Frankly, I prefer the Dodge and Cox International (DODFX) fund which has been doing significantly better and has a much lower expense ratio. DODFX is five times the size of OAKIX which can be a handicap, though I believe the size isn't a drag on performance given that the managers are strictly disciplined and they have the entire planet's stocks to choose from.
The Dodge and Cox Stock Fund (DODGX) has been a stellar performer for some time, now. It's closed to new investors because the managers prudently decided they'd have trouble sustaining their performance record if they grew the pot too much more. This one's a gem to my way of thinking. KEEP IT!
VFINX is pretty much the benchmark for US investors. For investing purposes, it IS the market and it's almost entirely large caps, which, finally, I think defines your portfolio.

Given your age, the apparent size of your next egg today and the clear implication that you will continue investing, I suggest you back off the heavy conservatism and get hold of a few more aggressive holdings. Putting 20-25% of your nest egg into small and mid caps for the next 10 to 15 years would be quite reasonable. A similar proportion of international funds/stocks is appropriate, too. Keep the bond holdings small and make income a lower priority than growth. Hold fewer securities because it's hard to follow more than twenty or so without giving up a lot of your otherwise free time to do so...unless, of course, this is your hobby.

JMHO
HTH
KennyO
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any thoughts on where to consolidate?

Well if you mean which ones to sell -- sorry I have not got time for an intelligent decision. As a first step however, I would say go to Morningstar and look at which block every fund is in i.e. Large Cap Growth, Small Cap Blend, etc. While you are there, check the Star rating on each fund and maybe the manager's background.

If you have a million of so bucks then you might justify 6 or so funds. If you have a tens of thousands of dollars I would say 3 funds. If you have you have less then 50K, then limit yourself further.

There are two exceptions. Your choices in a 401K most likely are limited. Don't worry about dividends or much else there other then growth. Start with the ratings on each option and returns over the last 3 years. Keep in mind that over the long haul, and 30 years is a long haul, everything tends to the averages. Stocks have given you about 10% - so if you pick small and mid cap stocks which have done well above 10% for the last 5 years it is likely they will do worse then 10% just to keep the long term averages in the area of 10%. Same with anything real estate related. The second exception is if you happen to own a highly rated fund that is closed to new investors. Today people would do a lot to own a share of Dodge and Cox Stock Fund.

Do not try and fill every square in the Morningstar matrix.

I fail to see the need for "Blends" if you have growth and value. Clearly some funds are blends, but there is growth and there is value. Choose!

Some people think bonds are vital for all portfolios. I don't think that is right. Over the long haul bonds maintain purchasing power. I want growth. If you are 35 and live until 85 -- that is 50 years.

Gordon
Atlanta
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I'm in FAIRX and I tend to think it's going to do well because it's heavily in Berkshire Hathaway, with the manager a Buffett disciple. While that's no guarantee, it's also pretty hard to bet against that kind of muscle.
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