The sharp move in the market has created several opportunities to rebalance Top 20. We are trimming 3 names and selling another in order to add a new name as well as to add to an existing position.
As far as the sells, we are eliminating a recent purchase, following through with a trim from last week. The stock has moved 17% higher since we bought it in mid-September and offers only 33% upside to my increased target. While I like the company, it's no longer one of my best ideas. We are trimming a large-Cap Consumer Discretionary name with 41% to my target. We had added to the position in early August, and it has rallied a little. We are also trimming two Technology names, including our largest position, which will still be above-average. It offers 48% to the target. The other name, which offers 51% to the target, goes from above-average to average. We are selling the stock we added in Mid-September when it was extremely oversold now that it has rallied by 9%.
On the buys, our new position, which offers 56% to our target, we are going back to one of the original holdings for Top 20. The company is well-positioned for continuing challenging economic conditions, and the stock is somewhat oversold in reaction to an analyst lowering his target this week. We also continue to build a position in a name leveraged to aerospace and offering 57% to my target.
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