By Robert Freedland The Growth and Momentum portfolio is now into its sixth year having started out with the first ten strategies during the debut of the Covestor platform. The portfolio had a difficult time with the correction in momentum stocks earlier this year, but seems to have regained its footing with some shuffling of positions. Since inception, it has appreciated by an average of 11.8% a year vs. 19.9% for the S&P 500 Index (SPX). In May, and into the first week of June, some of the changes included selling Builders FirstSource (BLDR) on weakness and returning FleetCor Technologies (FLT) back into the portfolio on strength. FLT had been a terrific performer for this model in 2013 but corrected earlier this year as momentum stocks fell. I sold brewer Sam Adams (SAM) during the month as my own timing of the purchase was poor and an optimistic purchase became a short-term loss. I am still a believer in SAM and may well look to try another taste in the future. Ubiquiti Network (UBNT) is another stock I was very optimistic about and the investment turned into a quick loss on an unexpected correction. I sold the position. A better performer has been Valspar (VAL), an amazing paint and coatings company headquartered in Minneapolis. The company has had a solid and a consistent financial record of performance. Finally, I added Williams Sonoma (WSM) to the mix. They also have a rather incredible chart as well as a steady record of growth. I continue to try to keep this portfolio to about 20 positions which are fairly closely weighted in size. Like a well-tuned sports team, I try to make sure that each holds its weight and yet I am learning that patience is also a virtue.