Wilson Asset Management (WAM) has built a reputation for its high-quality listed investment companies (LICs), many of which have been able to deliver market-beating returns through both capital appreciation and robust dividend income.
Therefore, I think when WAM releases its monthly updates on which shares are being bought and sold through its LICs, it's worth at least paying attention.
Let's have a look at how some of WAM's LICs have positioned themselves in 2020
WAM Capital Ltd (ASX: WAM)
WAM capital is the flagship Wilson LIC and focuses on the mid-cap space. It has managed to deliver an average performance of 16.7% per annum (before fees) since 1999. Recent winners for this LIC in December include mining manufacturer Codan Limited (ASX: CDA) and advertising kingpin oOh!Media Ltd (ASX: OML).
It looks as though WAM Capital has trimmed its exposure to Aristocrat Leisure Limited (ASX: ALL) and Vocus Group Ltd (ASX: VOC) whilst increasing its holdings in CSR Limited (ASX: CSR) and WAAAXer Appen Ltd (ASX: APX). This LIC is holding a cash position of 17.1%, so take from that what you will.
WAM Leaders Ltd (ASX: WLE)
One of WAM's newer LICs, WAM Leaders focuses on purely large-cap stocks, usually within the ASX 100. December winners for WAM Leaders include gold miner Northern Star Resources Ltd (ASX: NST) and tolling-company Atlas Arteria Group (ASX: ALX).
This LIC has apparently also unloaded some Aristocrat shares, as well as property giant Goodman Group (ASX: GMG). In their stead, it appears WAM Leaders is finding value in ASX bank shares, with National Australia Bank Ltd (ASX: NAB) and Westpac Banking Corp (ASX: WBC) both making their way into WLE's top 20. South32 Ltd (ASX: S32) is also a notable addition. WAM Leaders has a much lower cash position of 7.9% in December.
WAM Research Ltd (ASX: WAX)
WAM Research – WAM's second flagship fund – notably didn't make too many changes this month, with Sonic Healthcare Limited (ASX: SHL) the only addition to WAX's top 20 (at the expense of Vocus Group). Codan was also a winner for WAM Research, as was Service Stream Limited (ASX: SSM).
It's interesting that WAM Research also has a relatively high cash position – sitting at 20.2% for the month of December.
Foolish takeaway
I always think its worth checking out what other investors are finding in the markets today – especially at their current 'all-time high' levels. Hopefully these movements can give you some insights into your own portfolios and how 'the professionals' are positioning themselves for 2020.
