Here are the results:
I want to note that the performance isn't exact, I made the mistake last year of not recording the prices when I did my post. It was hard to find historical prices for the foreign holdings, I used what appeared on my brokerage statement, or what FT.com had for the end of last year for many of the holdings. I also didn't account for dividends, some stocks such as Argo paid significant dividends meaning the overall performance is understated maybe 1-3% or possibly more.
The picks did exceptionally well for a bunch of companies the market didn't have much faith in. Many were priced below book value, and a few were net-nets. For many of the companies their earnings didn't change dramatically in the past year, what changed was the market realized these companies were mis-priced and acted accordingly.
If you look at my post from last year you'll notice I excluded the category Japanese net-nets from my list above. This is because I didn't specifically name any net-nets, and it's hard to find a way to track that pick. I did a post on the performance of my Japanese net-nets at one point in the year that should give a good reference for how some of the category performed.
As of the post last year I held all of the stocks I had mentioned, throughout the year I ended up selling some of the positions. I sold my stakes in Argo, Bank of the James, and Nexeya.
I don't advocate holding stocks for arbitrary time periods, rather I prefer to sell when they hit what I consider fair value whether that's in three months or three years. An active investor in the above portfolio would have been able to do better if they sold throughout the year rather than holding onto the stocks. At one point FRMO raced into the $8s, and Installux hit €200, both would have been sells at those points.
A question I'm sure to get in the comments if I don't answer here is "how did your personal portfolio do?" As I mentioned above I owned all 13 stocks coming into 2013, but I also owned about 40 other stocks not mentioned in the post. Overall my personal portfolio was up about 39%, which is something I'm very satisfied with. The difference between the performance of my personal portfolio, and the 13 stocks in this post is that I hold a number of other companies in various stages of value creation that while I'm happy to hold I didn't consider them attractively enough priced to post on them. Almost every stock I own in my portfolio has appeared on the blog at some point.
Here's to hoping 2014's returns are as great as 2013's!
Disclosure: Long GAV, CDU, CNRD, GWOX, HNFSB, STAL, PREC, SODI.