01 April 2022
By Maynard Paton
Happy Friday! I trust your shares have performed better than mine so far this year.
A summary of my portfolio’s first quarter:
- Q1 return: -13.2% loss* (FTSE 100: +2.9% gain).
- Q1 trades: None.
- Q1 winners/losers: 0 winners vs 11 losers.
(*Performance calculated using quoted bid prices and includes all dealing costs, withholding taxes, broker-account fees and paid dividends)
My portfolio’s 13.2% Q1 drop is sadly my worst three-month performance since I commenced this blog at the start of 2015. My largest three-month declines prior to this year were 11% during August, September and October 2018 and 8% during January, February and March 2020.
The primary cause of my Q1 reversal was a profit warning from (by far) my largest holding, System1. Not helping matters were underwhelming results from (what was) my second-largest holding, Tristel.
The rest of my portfolio seems to have suffered from the market’s general unease towards smaller companies.