A small holding in Mongo bought a few days ago has been increased from 0.9% to 2.7% approximately to take advantage of the price dip. All of the major holdings are now looking attractive on a long term basis, but we don’t know where the pullback could lead.
As Facebook has been in the news – AOC wants demergers of Instagram and WhatsApp – I was interested to see that Facebook’s own research tells a clear story. Younger users are flocking to Snapchat and TikTok – older users are posting anti- vaccine memes and arguing about politics.
This older user only looks at a few groups dealing with local items for sale and tourism. NextDoor is much better for local information and items for sale or pick up in London.
A seemingly agreed lowball takeover appeared for Blue Prism, so this holding was sold and a small addition to UiPath maintained sector presence.
Ark Genomics and Vuzix were sold and small new positions initiated in AEHR Test Systems and Mongo DB. Top Ten holdings below saw Marvell go out and Twilio come in as a result of transactions during the month.
9) Magnite 4.3%
10) SOI.L 4.0%
These holdings accounted for 55.6% of the overall totals. They are not recommendations – just my own aide memoire of where I stood at the end of the September quarter.
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.
- AMD. 7.0%
- Roku 6.9%
- Nvidia. 6.7%
- Fubo. 5.5%
- Zoom. 5.4%
- Shopify. 5.2%
- Snap. 5.2%
- Marvell. 5.0%
- Magnite 4.4%
- 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.
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.
Last week I sold a small holding of Bandwidth to clear these out, and added to Zoom with the proceeds. The top four holdings remain unchanged and a few additions and reductions have affected positioning elsewhere.
These holdings now account for about 55% of the investments.
Consult investment professionals for investment advice – if they do not know anything about the top four or five stocks maybe it’s time to move on.
Within my top holdings there have been a few adjustments. Shopify was increased by a third, Fubo by 25%. Part of the cash came from a small reduction in Marvell – chosen because it was very close to a high when others were not.
Moving on to the smaller holdings, I took a profit on Veeva Systems which was not far from its all time high, added to Plug Power, and increased my 2% weight in Chinese vehicle manufacturer Xpeng to 3%. Chinese stocks have been very weak of late and Xpeng new car prices are often a third less than comparable Tesla models. Their P5 sedan appears to be politically correct as a family car. Their P7 was designed to compete with more sporty Tesla models.
None of the ten names have changed from last month but there are a few position changes due partly to additional purchases.
1 Roku 7.7%
2 AMD. 6.8%
3 Nvidia. 5.7%
4 Zoom. 5.4%
5 Marvell. 5.2%
6 Magnite. 4.6%
7 Voyager. 4.1%
8 FuboTV. 3.9%
9 Shopify. 3.8%
10. SOI.L. 3.7%
These holdings total 50.9% of the total portfolio investments. Small holdings are either waiting for additional purchases or earmarked for sale.
This is not investment advice. For that you need a registered/qualified professional adviser or broker.
Looking at the <> 1% holdings, thought it was time to bin Sofi and Tullow, so these two are gone. On the purchase side a 1% holding in Plug Power has been acquired – apparently hydrogen has become cheaper to produce.
Also acquired a 2% holding in an active ETF – Ark Genomic Revolution – a circa $10 billion portfolio run by Cathy Wood. Noticed two familiar names in the top ten holdings, but as for the remaining 90% of the fund I defer to Ms Wood’s research capabilities.
With overall valuation down about 1% from the last top ten post, a check on where the top five are heading.
Roku – up from 8.4 to 9.2%
AMD. – up from 5.0 to 6.0% (after purchase of additional shares)
Nvidia -=down from 5.5 to 5.2%
Marvell – up from 4.8 to 5.1%
Zoom – up from 3.7 to 5.1% (after purchase of additional shares)
Stocks without trades thus increased by 0.8% in relation to total valuation.