I have always maintained a concentrated portfolio with AIG making up nearly 20% of my current portfolio and I currently am holding less than 15 stocks across 3 portfolios I manage 3 portfolios including personal account. I have always used a concentrated value approach.
Two big winners this year included two I wrote about on gurufocus
Delhaize Group DEG ADR (I recommended DEG ADR on gurufocus last year at around $36) – sold my position out at $67.50 (average cost $33)
ING Group ING ADR (I recommended ING Group ADR on gurufocus last year at $5.96) – haven’t sold my position , current price $11.35 (average cost between mid$6 to $8 across 3 portfolios)
Other big winners for me in the last 12 months have included AIG,C,BAC,MBIA
Worst investment – (RWM) Short Russell 2000 ETF – hedging losses substantially affected my overall returns & JC Penney (JCP)(I recommended on gurufocus at around $20 MEA CULPA!)