We examine first-quarter results posted by our Lifelong Income Portfolio holdings and reassess their future prospects. Our conservative picks generally lived up to or exceeded expectations, while our aggressive holdings reported mixed results.
We remain dubious about the bullish case for the US economy, which is why hedges remain an important component of the Wealth Builders Portfolio. But first-quarter results from our remaining equity holdings indicate that their underlying businesses continue to head in the right direction.
Larger master limited partnerships sometimes get a bad rap from investors because they require greater incremental cash flow growth to move the needle. On the other side of the coin, these names have the scale and asset bases to pursue growth projects that aren’t feasible for smaller operators. And our favorites boast above-average yields have underappreciated levers they can pull to unlock value for unitholders.
All our holdings in the Wealth Builders Portfolio have reported quarterly results, with most living up to or exceeding the market's expectations. We review the final five sets of earnings and revisit our investment theses for these names.
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