Hormel Foods (NYSE: HRL) is one of my largest holdings. It didn't achieve this through capital appreciation alone -- it holds a sizable position in my portfolio largely because I've added to my investment in it multiple times. While this investment is in the green, I'm trying to take advantage of what I believe is an attractive price point while I still can.

When I buy a stock, I start with a set dollar-based investment that I consider a full position. After that point, based on what's going on with the stock, the company, and the broader market, I'll add incrementally to the stock, get out by selling it, or, when I make a good investment choice and the stock rises materially, just sit back and enjoy the show. That last one has happened with a number of my investments, some of which are worth four times what I put into them. But not Hormel.

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