The Holiday Portfolio: Labor, Indeed

The biggest winner to date has been Carrizo Oil & Gas(CRZO Quote), a natural gas-focused exploration company with operations in the Barnett Shale of Texas and the along the Gulf Coast.

As noted in the July 4 version of the Holiday Portfolio, Carrizo received mixed results from its Gulf Coast wildcat well, Mega Mata, which deflated much of the speculation in the stock. That said, in the mid-$30s, Carrizo is worth another look with its solid production profile in the Ft. Worth basin and potential growth in two new areas for the company: the Floyd Shale in Mississippi and North Sea exploration. Yet, it's fair to say most of the "easy money" was made early in the year in Carrizo.

There is little that hasn't been said about Altria(MO Quote). The consumer products company should be a staple of just about any portfolio with its solid, steady growth profile and consistent dividend growth. Like it or not, Altria is about making money and that continues to translate into solid share performance.

... and Laggards

Our financial entrant in this year's Holiday Portfolio, Bank of America(BAC Quote), has certainly felt some pain from the recent market volatility. While not completely unscathed, BofA is likely to come through the current financial turmoil without major damage. Moreover, the 5% yield provides a nice cushion for investors.

Microsoft(MSFT Quote) continues to lag just about every benchmark. Whether you're comparing the stock's performance to the broad market or its technology peers, it is becoming more apparent that big is not better when it comes to technology. While Microsoft products remain a pervasive part of the average American's technology experience, translating that into shareholder value has proved evasive for the world's leading software company.