Manager: Conrad Leifur
Model: S&P 500 Best of Breed
The model returned 3.38% in April, roughly 0.5% ahead of the S&P 500.
Positions that significantly outperformed their respective sectors and were therefore responsible for the outperformance were Intel (NASDAQ: INTC), Costco (NASDAQ: COST), Merck (NYSE: MRK), Sara Lee (NYSE: SLE), and Dow Chemical (NYSE: DOW).
Underperformers for the month included Bank of America (NYSE: BAC), Fifth Third Bancorp (NASDAQ: FITB) and Valero (NYSE: VLO).
There were no position changes in April.
