Shifting the weightings

Marvell – already trimmed – has been a successful holding. Today the 5% weighting was reduced to 3.3% to make way for some additions.

Twilio, formerly 3.0%, has gone up to 4.5% and a small addition to Snap has taken this holding to 5,8%.

This leaves Magnite as the only overweight of significance and UiPath remains underweight too while paired with Blue Prism in its portfolio slot..

News of the impending failure of Evergrande – a Chinese property and construction giant – has dampened market enthusiasm. The Chinese government have hired consultants – a good move at a time when disturbing news about their Wuhan Lab and collaborators continues to leak out. Some of the research proposals that were made sound distinctly risky – and nobody involved in these appears to be answering questions.

Top ten as at 16th September 2021

  1. AMD. 7.0%
  2. Roku 6.9%
  3. Nvidia. 6.7%
  4. Fubo. 5.5%
  5. Zoom. 5.4%
  6. Shopify. 5.2%
  7. Snap. 5.2%
  8. Marvell. 5.0%
  9. Magnite 4.4%
  10. SOI.L. 3.9%

These holdings accounted for 55.2% of portfolio holdings. These top ten posts help me to see how sentiment is changing, and are not investment advice. For that you need an investment professional.

Looking at the August list the only change has been Voyager going out because of price weakness and Snap coming in after the purchase of additional shares. A couple of additional purchases are being actively considered.

SNAP now in top ten holdings

I’ve been watching the Snap price and chart for a while now as I wanted to increase my holding. This morning I added at 70.76 to bring this holding above the 5% mark. There is not a lot to say – I think my last position increase was Zoom which has been a rotten performer ever since its last (good) quarterly report. Things should improve there as we go over to hybrid working with more occasional office visits. Covid has shown us that we can free time for family and leisure by cutting down on long commutes.

A line of thinking that I have been following is that private client investment management has become so difficult because of regulation, especially in the U.K. Research needs to be written and bought in, then internal research buy notes created before people feel “safe” from non revenue earning departments who represent the regulators. So people are often “safe” to buy huge cap stocks like Apple and Microsoft, but everything smaller can become a risk to people’s livelihoods.

All a far cry from the days when well meaning brain dead clients returned paper stock powers and transfers unsigned. And a young man bouncing a rubber ball wearing two tone shoes and a bookmaker suit used to give us very good information on US markets.