My Portfolio

01 July 2021
By Maynard Paton

Happy Thursday! I trust your shares are thriving and that you still find my blog useful.

A summary of my portfolio’s progress:

• Q2 change: +7:4%*
• Q2 trades: System1 and M Winkworth
• YTD change: +13.2%*
• YTD winners/losers: 9 winners vs 2 losers

(*Performance calculated using quoted bid prices and includes all dealing costs, withholding taxes, broker-account fees and paid dividends)

I am pleased the portfolio gains recorded during Q1 were extended during Q2. Recent RNSs from my portfolio have been mostly encouraging, and I anticipate boardrooms will remain optimistic as the pandemic subsides and social restrictions ease.

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01 April 2021
By Maynard Paton

Happy Thursday! I trust your shares have enjoyed a positive start to the year.

A summary of my portfolio’s first quarter:

• Q1 gain: +5.4%* (FTSE 100**: +5.0%).
• Q1 trades: None.
• Q1 winners/losers: 6 winners vs 3 losers (and 2 non-movers).

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01 January 2021
By Maynard Paton

Happy 2021! I hope you survived last year’s volatile market and you continue to find my blog useful.

A summary of my portfolio’s 2020:

• Total return of 16.9%*;
• Eleven holdings recorded a gain while one holding recorded a loss;
• Returns ranged from Daejan, up 43.5%, to System1, down 9.6%;
• Two shares were topped-up: S&U and System1, and;
• One share was sold entirely: Daejan.

(*Performance calculated using quoted bid prices and includes all dealing costs, withholding taxes, broker-account fees and paid dividends)

I publish a portfolio review after every quarter (Q1, Q2 and Q3), and this post recaps my October/November/December activity and my 2020 performance.

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01 October 2020
By Maynard Paton

I trust your shares have performed well during the last three months.

A quick summary of my portfolio’s third-quarter and year-to-date progress:

• Q3 gain: +4.4%*
• Q3 trades: None.
• YTD gain: +3.4%* (FTSE 100: -20.2%**)
• YTD winners/losers: 4 winners vs 8 losers 

(*Performance calculated using quoted bid prices and includes all dealing costs, withholding taxes, broker-account fees and paid dividends. **Includes reinvested dividends.)

The news from my shares during Q3 was generally satisfactory in the circumstances. 

Among my holdings releasing results during the quarter, two reported lockdown-lowered profits that were complemented with promising director recovery talk. One holding meanwhile lifted its dividend 11% and another announced a very unexpected special payout.

After making no trades during the second quarter, I did not buy or sell during this latest quarter either. Never before since starting this blog during 2015 have I refrained from adjusting my portfolio for six months.

How companies will fare as the pandemic continues is still impossible to predict. I remain 25% in cash and hope a few obvious bargains may one day appear. 

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31 March 2020
By Maynard Paton

I always like to start my quarterly portfolio reviews with a happy welcome. But not this time.

The country faces a national emergency. Lives are at risk, supermarkets have empty shelves, jobs are being lost…and the finer points of individual shares no longer seem that important.

I have nonetheless decided to maintain this blog through these difficult times — although future posts may be sporadic.

I hope you will find my updates useful. One day I will look back at what I have published to remember how I coped (or not!) with the crisis. I may even emerge from these events a much wiser investor.

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02 January 2020
By Maynard Paton

Happy 2020! I hope you enjoyed last year’s positive market and that you continue to find my blog useful.

A quick summary of my portfolio’s 2019:

• Overall gain: 13.1%*;
• Nine shares went up and six shares went down;
• Performances ranged from Tristel, up 61%, to Tasty, down 74%;
• Three shares were topped-up: Daejan, Mountview Estates and S&U, and;
• Three shares were sold entirely: Castings, Getech and Oleeo.

(*Performance calculated using quoted bid prices and includes all dealing costs, withholding taxes, broker-account fees and paid dividends)

Before I review my 2019 performance, let me first outline what happened during the final quarter of the year.

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01 October 2019
By Maynard Paton

Happy Tuesday! I hope you continue to find my Blog useful… and that your shares are coping well in the current market.

My portfolio continues to lag the FTSE 100. Since the start of the year, I am up a measly 3.6% while the index with dividends reinvested is up 14.3%.

I remain on the wrong side of what has become a two-tier market. While global ‘quality’ large-caps continue to charge higher, my portfolio is still full of smaller UK companies…

…many of which are undergoing potential recoveries (e.g. Getech, Tasty), experiencing standstill earnings (e.g. FW Thorpe, M Winkworth) or operating in an unloved sector (e.g. Daejan, Mountview Estates).

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28 June 2019
By Maynard Paton

Happy Friday! I hope you continue to find my Blog useful… and that your shares are performing well in the current market.

I am pleased my portfolio remains in positive territory this year — although I am still trailing the FTSE 100. So far during 2019, I am up 7.7% while the index is up 13.1%.

My underperformance is due in part to owning companies that are:

• undergoing potential recoveries (Getech, Oleeo, System1 and Tasty);

• experiencing flat earnings (Mincon and M Winkworth), or;

• operating in an unloved sector (Daejan and Mountview Estates).

Those eight shares represent approximately 40% of my portfolio. Add in cash of 7.5% as well, and almost half of my portfolio is marooned far away from the high-flying ‘quality’ growth shares that (seemingly) keep leading the market higher.

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31 March 2019
By Maynard Paton

Happy Sunday! I hope you continue to find my Blog useful… and that your shares have rebounded following last year’s rough market.

My portfolio has advanced during the last three months — although not as much as the wider indices.

Notable price gains from Bioventix and FW Thorpe have been sadly offset by the ongoing collapse at Tasty and sluggish performances from many of my other holdings.  

The swings and roundabouts have meant that, for the first quarter, I am up only 3.9% versus a 9.5% gain enjoyed by the FTSE 100. 

Let me now explain what has happened within my portfolio during January, February and March.

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01 January 2019
By Maynard Paton

Happy 2019! I hope you coped well with last year’s rough market and that you continue to find my Blog useful.

The major development for me during 2018 was starting to write articles for SharePad. No longer can I call myself a full-time investor who has no other income than capital gains and dividends!

Nevertheless, I do continue to depend upon my dividends — so I am still a full-time-ish investor.

For the time being at least, I do not have to think too much about capital gains… which is just as well given the recent market downturn. 

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03 October 2018
By Maynard Paton

Happy Wednesday! I hope you continue to find my Blog useful… and that your shares served you well during the summer.

Unfortunately, my portfolio has not exactly sizzled during the last three months.

In particular, notable price advances from Andrews Sykes and Mincon were offset by further declines at System1 and Tasty. Elsewhere, highly rated holdings FW Thorpe and Tristel have come off the boil, while stagnant positions Mountview Estates and Oleeo remain, well, stagnant.

It has all meant that, nine months into the year, I am up 4.4% versus a 1.0% total return produced by the FTSE 100*. No doubt about it, my gains this year have been far from stellar. But following two years of lagging the index, I will happily take my current outperformance for 2018.

Recent RNSs from my shares have been broadly positive. Once again there was a mix of satisfactory to lacklustre statements, and I am glad no major horror stories emerged.

And I did venture to one AGM, which helped prompt my portfolio’s only Q3 trading.

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