Djerriwarrh image

List of Investments

Investments included in the Djerriwarrh’s portfolio are selected for their profitability and long-term growth prospects.

At the same time we concentrate on stocks where there is an active options market. This is intended to give scope for the writing of predominantly exchange traded options with the level of the portfolio ‘covered’ by call options typically ranging between 20 to 50 per cent of the total portfolio at any one time.

A list of Djerriwarrh’s 20 largest holdings as at 31 December 2011 is set out in the following table.

Top 20 Investments – Ordinary Securities

Valued at closing prices at 31 December 2011 Total Value
$ million
1 BHP * BHP Billiton 81.5
2 WBC * Westpac Banking Corporation 65.6
3 CBA * Commonwealth Bank of Australia 62.5
4 NAB * National Australia Bank 48.1
5 ANZ * Australia and New Zealand Banking Group 47.1
6 TLS Telstra Corporation 44.2
7 OSH * Oil Search 31.1
8 WPL * Woodside Petroleum 29.2
9 HDF Hatsings Diversified Utilities Fund 24.5
10 AMP * AMP 22.9
11 STO * Santos 22.2
12 RIO * Rio Tinto 21.1
13 WOW * Woolworths 19.6
14 BXB * Brambles 18.4
15 WES * Westfarmers (a) 18.4
16 QBE * QBE Insurance Group 18.3
17 TCL * Transurban group 17.6
18 ORG * Origin Energy 15.6
19 CCL * Coca-Cola Amatil 13.7
20 AMC * Amcor 12.3

Total 

 633.7

As % of Total Portfolio Value
Excludes cash and bank bills 

 86.2%

*Indicates that options were outstanding against part or all of the holding

(a) Includes $3.9m WESN partially protected securities

Note: Options
As part of our activities, the Company sells call options and put options. We may sell call options, but only against part or all of particular securities held by the Company. Put options are sold as an opportunity to acquire stock at advantageous prices. We have cash or undrawn banking facilities available to buy the underlying securities if all puts are exercised.