Recent Sale: Further Financials Reevaluation Cost of Capital After SVB Collapse.

We sold two more financials and REITs last week as the collapse of Silicon Valley Bank spread to various other regional banks and Credit Suisse. 

Financials:  Lincoln National (LNC). Has taken on fixed income losses with interest rate increases. Thus, the tangible book value has taken a hit causing us to reconsider our valuation.

REITs:  Sachem Capital (SACH). The cost of capital is increasing and will shrink distributable funds from operations which could result in distribution cuts.