Having holdings in TBGVX a couple of decades, I split half into TBCUX, the unhedged offering, and have been a few percentage points better, FWIW. Never saw a reason to sell, since the managers and staff purportedly have much of their net worth in the fund. Besides, "Tweedy, Browne", how can you not trust them?
Sticking with SFGIX (which was positive Friday) partially on faith and partially because my account number is 17, but SQM (speaking of Latin American holdings) is approaching deep value territory (unless the Russian sources depress the fertilizer market for several years). Was planning to double down in SQM, but POT costs and yields about the same and is closer to American and Canadian farmers. Can't decide how much of SQM is fertilizer and how much is specialty minerals,which might be more appealing since they're closer and not Russian (currently would not buy from a Russian source if another one was available in this hemisphere.) Both down Friday in a slightly rising market.

Slick: An additional thought about spreading-out, worldwide: TBGVX. An excellent pick. But it has quite a bit in Europe's developed economies. The companies are blue-chip with dividends that are safe. ... I'm glad to hear that the move to spread-out the holdings in SFGIX has already occurred. And I do recall reading in a recent report that Latin American picks are largely the reason for results that are less than hoped for. :)

Reply to @MaxBialystock: Think about it this way. IT has performed better than the closed WAEMX YTD and no one wants to sell that one. Yet one more reason I don't think I need WAEMX since I also have SFGIX I bought recently at beginning of the year looking to sell WAEMX anyways. In retrospect should have done that.
This weekend I going to decide on some serious selling/buying/reducing number of funds

I've never been able to follow my own advice, but: "Buy low, sell high." The US Market is at an historic high, and US small-caps are on fire--- like the Boston Red Sox in the 9th inning last night, beating Seattle with a 6-run rally. ;)
I always come here to see what's happening, too. Lately someone (Skeeter?) mentioned that Europe appears poised to lift itself, ever so slowly, from out of the ashes. THERE is a "buy low, sell high" prospect. But hold onto your hat.
I have a ton of my stuff with Matthews in Asia. For truly global exposure, I am using a fund from a Matthews alumnus: Andrew Foster. He started his own shop with SFGIX. So far, it is underwhelming me. Little by little, he has stated, he plans to move out of a mostly Asia position and spread things out more evenly. It has gained over the course of the past year, but Y-T-D, it is a bit under the break-even mark. The fund is down by -1.18% for 2013.
"Break a leg!"

Yes, MAPOX (balanced) is up 20.71% over the past year. DLFNX and PREMX are getting hammered in terms of share price. I notice my monthly div. is a bit lower than it has been from PREMX, but there's a new portfolio reported to M* But the yield is back up over 5%.......SFGIX is so far, a disappointment. My bright spots are small positions: TRAMX and MSCFX. (Up 23.4% and 40.74%, respectively.) But my Matthews stuff is not doing badly. In terms of bonds, MAINX is not faring as badly as my others. And MAPIX and MACSX are up nicely over the past year: 20.27 and 17.07%. Break a leg, everyone.

Reply to @scott: Can't argue with you at all on that particular one. But overall, in a year of double digit gains of 20% and more there seems to be a lot of discussions on losers and underacheivers ala SFGIX, AQRNX, and ARIVX, to name just a few. There also seems to be an inordinate amount of discussions on alternative funds and capital preservation. Fine if you are in your 60s and beyond, but I can't believe there aren't younger investors here. Heavens forbid had I ventured into the realm of alternative funds when I was younger and in an accumulation mode.
Edit: Everything seems to run in cycles on these boards so alternative funds too shall pass. It wasn't that long ago we had the gold and silver bugs forever extolling the virtues of that form of investment.

Reply to @TonyGstring: I do own GPGOX in my IRA. This is for my taxable accounts though.
I should mention I also have SFGIX. Again, folks, I'm reducing my number of funds - that's the objective. A combination of stupidity and trading to book gains vs losses in the books prompted me to buy lot of funds. Don't need to do that as much anymore (and of course I think I'm getting less stupid with age I think)

I agree
SFGIX - very diversified large-cap Asia-Dev (28%) , Latain America (16%), Asia-EM (33%), Europe-EM (15%).
MSMLX - mid-cap Asia-EM (65%), Asia-Dev (34%)
DGS (ETF 70% mid-cap, 30% small-cap) mostly Asia 64%
are all better choices in my opinion (I'm holding SFGIX & MSMLX). They may not have hit bottom yet but are looking better and better as a upswing buy.

Reply to @hank: Here's the whole bloody mess:
Following is the present portfolio percentage distribution, showing recent changes as noted
by dates. Cash positions are not shown, but approximate portfolio distribution currently is:
Equity Funds: 15% / Bond Funds: 5% / Cash: 80% • (May not equal 100% due to rounding error.)

	    7/24/13		AF = American Funds		
 Change Since		AC = American Century		
    7/23/13		S: = Schwab Account		
US Equity					
Fund		PF %	Change	         YTD	       Fund Name
AF ANCFX	2.1%	-0.45%		17.5%	  AF Fundamental Investors
AC ACMVX	6.5%	-0.7%		21%	  AC Midcap Value 
S: GABAX	5.1%	-0.74%		19.7%	  S: Gabelli Asset
S: GASFX	2.5%	-1.31%		16.9%	  S: FBR Fund Advisors
S: MFLDX	5.9%	-0.23%		10.5%	  S: Marketfield
S: BUFBX	0.5%	-0.36%		11.3%	  S: Buffalo Flexible Income
S: PRBLX	0.5%	-0.6%		19.9%	  S: Parnassus Equity Income
S: VVPSX	1%	-0.44%		23.3%	  S: Vulcan Value Small Cap
  Total %	22%	-0.6%			  
US Balanced					  
AF ABALX	12.4%	-0.43%		13%	  AF American Balanced Fund
AC TWSMX	6.3%	-0.27%		8.9%	  AC Strategic Allocation (Moderate)
  Total %	19%	-0.4%			  
World & EM Equity					  
AF SMCWX	19.6%	-0.41%		16.3%	  AF Smallcap World Fund
AF CWGIX	1.4%	-0.04%		12.7%	  AF Capital World Growth & Income
AF ANEFX	4.4%	+0.06%		21.9%	  AF New Economy Fund
S: MAPIX	4.8%	-1.07%		9.5%	  S: Matthews Asia Dividend
S: ARTGX	2.4%	-0.07%		17.5%	  S: Artisan Global Value Investor
S: SFGIX	4.3%	-0.97%		0.5%	  S: Seafarer Overseas G & I
S: WAFMX	2.8%	  0 %		12.9%	  S: Wasatch Frontier Emerging
  Total %	40%	-0.4%			  
US Bond Funds					  
AF ABNDX	0.6%	-0.39%		-2.4%	  AF Bond Fund of America
AF AIBAX	1.2%	-0.23%		-1.4%	  AF Intermediate Term Bond Fund
AF AHITX	2.6%	-0.26%		3.5%	  AF High Income Trust
AC ABHIX	0.7%	-0.31%		3.3%	  AC High Yield Bond Fund 
S: RPHYX	6.2%	  0 %		1.7%	  S: Riverpark Short Term HY
S: PONDX	5.7%	-0.41%		1.8%	  S: PIMCO Income Fund (D) 
  Total %	17%	-0.2%			  
Non-US Bond Funds					  
S: MAINX	0.5%	-0.08%		-1.9%	  S: Matthews Asia Strategic Income
Note: The portfolio percentages shown would be					
as a % of the present 20% Equity+Bond exposure.					

-

Hi All,
I have taken time to update my portfolio at Trow Price to get accurate and more detailed X-ray info. Here is how it is showing up.
Style Box
17 26 23
5 7 9
4 4 5
Asset Allocation
Cash: 1%
US Stocks: 43%
Foreign Stocks: 23%
Bonds: 28%
Other: 5%
World Regions
US & Canada: 62% (way too high compared to what I want; I have to make changes)
Europe: 15%
Japan: 2%
Latin America: 2%
Pacific Rim: 11%
Other: 3%
Not Classified: 5%
Not much change in Stock statistics that I gave earlier. So, not giving them again.
Top 10 Holdings
VDIGX - 13%
VHGEX - 11%
PAUDX - 9%
AKREX - 6%
FPACX - 6% (62% of my Taxable portfolio is in it and rest of it in ARTKX)
VWELX - 6%
GPGOX - 5%
ARTGX - 4% (Candidate for adding to increase my foreign %ages)
PRHSX - 4%
PQIDX - 4% (Same as written above for ARTGX; Also would increase EM by adding to SFGIX)
Thanks for any additional inputs.

Excuse what may be an elementary question in what I consider to be a highly experienced forum. I am 53, have a few mutual funds and have decided to do some indexing (is that a dirty word here?). I would like to lower some of my costs and have been reading continuously that indexes tend to reap higher returns over the long haul. I also read that indexing works best in "efficient " markets. What are efficient sectors?
I presently have 2 index, FUSVX, Fidelity Spartan 500, for my Large Cap sector, and PBDIX, US Bond Index. I would like to index in a couple more sectors but am unsure of what efficient refers to pr what sectors may be appropriate. My other MF are
POAGX, Primecap Aggressive Growth
CCASX, Conestoga Small Cap
FAGIX, Fidelity Capital and Income
FMIJX, FMI International
MNDFX, Manning & Napier Dividend
PRPFX, Permanent Portfolio
SFGIX, Seafarer
Any other areas above I can sell and buy a good index?
Thanks a lot for any guidance.
Mike

Just wanted to thank everyone for the invaluable information and commentary contained in this thread. Excellent explanation and analysis of the Artisan funds along with the various managers styles, in addition to the very thorough research done by Charles.
Am currently going through the EXACT same situation, and ended up holding off on OAKWX and am adding more to ARTGX (same 4% allocation as mrc70). Planted a little seed in ARTWX and WISH ARTKX was open. For large cap international exposure, I went with TBGVX in a more conservative account and combo of OAKIX & FMIJX in another (supplemented with MAPIX & MACSX, respectively), FWIW.
Good recommendation of SFGIX, which I found out about thanks to this site.

Commenting in regards to your reply to Investor's post on July 19, who gave great advice along with MikeM as well as MaxBialystock (didn't read every single post in thread so may have missed a few). I'm familiar with all their recommendations (own quite a few) and those are some fantastic funds, IMO.
VHGEX - Replace. ARTGX (own it) is an excellent alternative but saw that you said it's in a Vanguard acct. Maybe add to VHCOX or start a position in one of the PrimeCap funds (like POAGX, POGRX, POSKX) depending on tolerance for risk and the role it will play in the portfolio to achieve your overall objective/goals.
PAUDX: What you said. Good fund and manager, I like the All Asset All Authority better than just the All Asset. Up to you, either way works
PQIDX: Based on it's limited history, great performance. Recently tried to buy it but was unavailable at my broker.
PRSNX: There are better options out there; OSTIX off the top of my head
VHCOX Refer to commentary on VHGEX. Recently opened up to new investors, great track record and management like most of Vanguard's active funds. Agree with what you said and its role for growth in the portfolio. AKREX can achieve similar goals albeit in a slightly different way. Can't go wrong whichever way you decide.
MCFCX: Not sure if this is meant to be MFCFX, Marsico Flexible Capital. Regardless, believe there was a manager change and am not familiar with their other funds. If going the Artisan route, would personally use ARTGX over ARTHX due to the managers excellent performance of ARTKX (closed) and value approach. See this thread http://www.mutualfundobserver.com/discuss/index.php?p=/discussion/7046/oakmark-global-select-vs-artisan-global-value
HSFNX - Sell. Never heard of and small cap financial seems like a really specific niche holding.
PCRIX: Several options. The Real Return Strategy uses swaps/derivatives and invests in TIPS to protect against inflation plus earn income. Instead of TIPS, CommoditiesPLUS Strategy invests in short term income. I own both (HACMX, PCLDX).
PONDX I'd keep (own it). Contains lot of MBS
AEMGX Never heard of it. Can empathize with the sentimental value and it's easy for me to say keep emotions out of investing and sell it! However, must propose a suitable replacement and just dealt with this situation in two of my portfolios as a lot of EM funds closed within the past year. Got in ODVYX (now closed) in IRA but missed it by the time my rollover was processed, so invested in SFGIX along with MACSX (missed MAPIX by a few days). Maybe look into HLEMX or THDAX.
ARIVX Like both of Investor's recommendations. Currently looking to buy SKSEX along with my position in VVPSX to add that small value tilt. When rest of money comes from 401k rollover, will have to pay a Fidelity TF fee but am still going to buy MSCFX, which think someone else already recommended. Also own ARTWX, still early but like Mark Yockey's track record, which has been covered here on MFO quite extensively.
Somewhat in the same boat with you as I don't have a lot of conviction in the managers of the currently open EM & some small-cap funds, as a lot of the ones I follow or wanted to get into recently closed (FCPVX, FSCRX, SSSFX to name a few). Not a fan of passive management for a bond portfolio, ESPECIALLY in this environment. Would strongly suggest looking at the big three of Gundlach, Gross, and Fuss (in that order, fwiw).
Lemme know if you have any questions. Best of luck!

You've gotten some great feed-back from the group, so I thought I'd try my luck with a more focused portfolio reply... fwiw.
Many of us on this board can be classified as fund-junkies, accumulating more funds than we need just because we "think" we are adding alpha or it's just fun to do. I kind of control that urge by basically doing a similar physiological split as you. You call it core and satellite. I keep 90% of my portfolio as my core. I try and keep it at ~10 to 12 funds.
As for alternative or global allocation funds, I really don't think they are needed when you have a 20 year horizon. I'm starting to think (like some here) they are just a gimmick by the industry giving customers a sense of hope through the inevitable market cycles - but that would be another post.
balanced/allocation
FPACX 15% I'm just comfortable with this manager's ability over full market cycles
core equity funds
VDIGX 15% My pick here is YAFFX, but this looks like a fine LC blend
AKREX 10% Really like the manager. Alas, I can't get this fund in my TRP account.
GPGOX 10% Great manager history. Not a fan of global funds but like this one
OAKIX 10% or ARTIX. Not sure from your list what you had in this space
SFGIX 10% Another fund with star manager potential. Another fund I can't get.
PRHSX 5% This is the sector (I believe) will do well until the last boomer is dead.
core bonds
PONDX 10% or LSBRX. One multi-sector bond fund is fine for you I think
FGBRX 5% if you can get this foreign bond fund, you don't need any other
your "satellite" funds (looking for alpha or just plain fun...)
10% on your convictions
I really think you have to have conviction for your core managers or funds. My 2cents, if you are placing less than 3% in a fund there is no conviction. If your managers aren't performing or if you loose that conviction, replace them as needed. You can do the same thing with index funds if that's your style. In fact it would probably be easier - but not as much fun.

Reply to @mrc70:
I do have a lot of funds in my portfolio. Furthermore, I buy the same funds in several different accounts so it feels more. But in terms of number of unique tickers you have more than I do. And it looks like I have managed to concentrate 40% of my portfolio in 5 funds.
Anyway here is what I think of the funds in your portfolio. I am not commenting on your asset allocation.
Core:
VDIGX Keep
VHGEX Sell. Either invest more in ARTGX or split money on your domestic/intl. funds. Another alternative to consider: ARTHX.
PAUDX Sell
FPACX Keep
AKREX Keep although fund is drifting more towards large cap these days. I have about 9% of my portfolio in this fund.
VWELX Keep.
PQIDX Sell. I like VDIGX more.
GPGOX Keep. (I have about 5% of my portfolio in this. I would have had more but I also own GPIOX about that much)
ARTGX Keep. Also since you have ARTKX in taxable consider switching VHGEX to ARTHX which is more growth oriented.
VFSTX Keep. I use RPHYX.
VTIPX Keep. Since duration is very low you might consider consolidating VFSTX and VTIPX.
PRSNX Sell.
VHCOX Sell. I would invest more in AKREX.
MAPIX Keep.
SFGIX Keep. I would not add more until downward momentum has finished.
Satellite:
PRHSX Keep but watch as manager has left recently.
MFCFX Consider switcthing to ARTHX
HSFNX Sell. Invest more in a diversified small cap.
MAINX Sell. Good house. Good manager. But bad neighborhood right now.
PSPFX Sell.
WAFMX Keep. A small percent is OK.
PONDX Sell. I sold my own PONDX completely and moved to RPHYX some and added a bit more to my balanced fund.
AEMGX Sell. Consider adding monies to MAPIX SFGIX and a bit more to WAFMX if you like.
ARIVX Sell. I like VVPSX and BCSIX for US oriented small cap. Or consider more intl./global small cap like GPGOX or try new ARTWX.
PCRIX Sell.

Core (Basically long term holdings; Even if they are sold, they will be replaced with mostly similar funds)
VDIGX
LCB
10.83%
Invested from 2006 when M* wrote well about the mgr; It had 500 M when I invested
Money from Rollover
Cash
10.83%
(Rollover process in progress; Have to invest this money somewhere)
VHGEX
Glo
8.66%
(Invested since 2005; Not as good a fund as it was in when it was managed by one advisor; No alternatives at V'rd)
PAUDX
Flex
7.90%
(Invested mainly as diversifier)
FPACX
Bal
4.98%
(More than 50% of taxable investment is in it; That shows my confidence in the fund/mgr)
AKREX
MCG
4.98%
(Faith in mgr, not proved wrong so far; made more than 50%)
VWELX
Bal
4.87%
(Steady Eddy Balanced fund; Can be replaced with VEIPX depending on stock vs bond outlook)
PQIDX
Glo
4.44%
(Mgrs with good past record and I am fan of Global and Global allocation funds)
GPGOX
Glo
3.90%
(Invested from almost at inception; Covers smallcap for me globally)
ARTGX
Glo
3.68%
(Holding ARTKX from 2006 in taxable a/c and like the mgrs; Invested with them for more than year)
VFSTX
Bnd
3.25%
(Moved from VBMFX couple of months back as I want to go short term duration; Worked well so far)
VTIPX
Bnd
3.25%
(Moved from VIPSX couple of months back as I want to go short term duration; Worked well so far
PRSNX
Bnd
3.25%
I consider it as a good )(convervative Multisector fund and holding it for more than 3 years)
VHCOX
LCG
3.25%
(Invested when it opened recently as there are no good growth funds at V'rd)
MAPIX
EM
3.03%
(Invested in for more than 4 years; Good fund shop, and fund has good strategy for EM)
SFGIX
EM
2.17%
(Invested like most of you as I like the idea of global MACSX)
Satellite
PRHSX
Hlth
3.47%
(Holding it for more than 3 years; Moved it to TDA after they started offering Trow funds as NTF)
MFCFX
Glo
2.71%
(Bought when it came but sold it too soon to buy it back again later; made 20% so far; did not sell it when mgr quit)
HSFNX
Fin
1.89%
(Invested almost two years back as I thought financials has potential for a good return; made good money)
MAINX
Em Bnd
1.62%
(Invested as I don't have a foreign bond)
PSPFX
Comm
1.41%
(Invested early this year as the section is underforming, failed move on my part but probably have potential to do well in future)
WAFMX
EM
1.41%
(Invested in it last year and it did pretty well, want to keep it for long term)
PONDX
Bnd
1.08%
(Invested a small amount looking at its spectacular performance; just a foothold)
AEMGX
EM
1.08%
(Invested in 03/2009 and my best performing fund ever, so sentimentally attached to it :-) )
ARIVX
Scv
1.08%
(Somehow, I never could settle on a core smallcap fund; This is the latest to try out; I was in PRSVX,a nd then Perkins smallcap; no success so far)
PCRIX
Comm
0.97%
(Invested early this year for the same reason given above for PSPFX; Close to 10% down)

I recognize some of them, and some of them I own, too. If I were sitting where you are, I'd earnestly look to see how best to consolidate. Your other funds might be very good selections, but I just am not familiar with them. And you have too much to be dealing with, here, in this portfolio. I would be happy to be owning:
-FPACX (My choice in the category is MAPOX. But stick with what you've got. It's a gooder.)
-PRSNX (multi-sector bond)
-SFGIX and MAPIX (EM. The Andrew Foster fund---SFGIX--- is not doing as well as it should. I might think about adding shares here, before it eventually does experience a nice run-up. Foster is a smart cookie. His fund is global, MAPIX is Asia. I see no problem having a fund devoted to Asia, esp. since this one sits near the top of the pack.)
-MAINX. I own it, too, for Asian bonds. Both sovereign and corporate.
-VHCOX. The performance numbers look good! Too much risk for me, though. I'd choose MPGFX. But don't rush, mull it over. VHCOX is a fine one, too. You just showed me something new, thank you. And the Vanguard ER will be very low, to your advantage. However, for what it's worth, the Fund Manager(s) at MPGFX won Morningstar's Domestic Fund Manager of the year award in 2012.
-AKREX. OK, if you're going to dabble in a specialty sector....
...But where's your domestic SMALL-cap? Look at PRSVX or MSCFX.
Ok, then. "Break a leg!" Let's see what some others have to say. MikeM had a good suggestion. You can dissect your holdings to drill down and see great detail with the Morningstar FREE "Instant X-Ray" or the premium "x-ray."

Dear mrc70:
VWELX Bal 4.87% Keep
FPACX Bal 4.98% Keep
VFSTX Bnd 3.25% Sell
VTIPX Bnd 3.25% Sell
PRSNX Bnd 3.25% Sell
PONDX Bnd 1.08% Keep
Money from Rollover Cash 10.83%
PCRIX Comm 0.97% Sell
PSPFX Comm 1.41% Sell
WAFMX EM 1.41% Sell
SFGIX EM 2.17% Keep
MAPIX EM 3.03% Keep
AEMGX EM 1.08% Sell
MAINX Em Bnd 1.62% Sell
HSFNX Fin 1.89% Sell
PAUDX Flex 7.90% Sell
VHGEX Glo 8.66% Sell
ARTGX Glo 3.68% Sell
MFCFX Glo 2.71% Sell
GPGOX Glo 3.90% Sell
PQIDX Glo 4.44% Sell
PRHSX Hlth 3.47% Keep
VDIGX LCB 10.83% Keep
VHCOX LCG 3.25% Sell
AKREX MCG 4.98% Sell
ARIVX Scv 1.08% Sell
Regards,
Ted

Mike, in case you missed the thread there is some interesting and pertinent info re SFGIX and Seafarer Here.

Hi All,
I have the following portfolio.
Too many funds due to various accounts of mine and my wife's.
I am 43 and have at least 20 years to retirement.
Please provider your invaluable critique
VWELX Bal 4.87%
FPACX Bal 4.98%
VFSTX Bnd 3.25%
VTIPX Bnd 3.25%
PRSNX Bnd 3.25%
PONDX Bnd 1.08%
Money from Rollover Cash 10.83%
PCRIX Comm 0.97%
PSPFX Comm 1.41%
WAFMX EM 1.41%
SFGIX EM 2.17%
MAPIX EM 3.03%
AEMGX EM 1.08%
MAINX Em Bnd 1.62%
HSFNX Fin 1.89%
PAUDX Flex 7.90%
VHGEX Glo 8.66%
ARTGX Glo 3.68%
MFCFX Glo 2.71%
GPGOX Glo 3.90%
PQIDX Glo 4.44%
PRHSX Hlth 3.47%
VDIGX LCB 10.83%
VHCOX LCG 3.25%
AKREX MCG 4.98%
ARIVX Scv 1.08%
Thanks,
Mrc