So much for giving an update in August! Hope you all had a nice summer and remain safe and well?

It has been busy, busy for me and there always seems to be something better to do than to update things here! Spare time has been spent on research and maintaining my portfolio in general, as well as working full time.

I won't waste any time talking about Coronavirus as I am sure you will have heard enough about it for today!

I am posting this update on Stockopedia for the first time to let more people see what I am up to, sometimes it is nice to see how someone else does it and what way they are thinking...

None of this is advice or recommendations.

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Summer/Q3 summary

  • Number of Holdings 33 at time of writing (Down 4 since last update in May)
  • Calendar YTD +3.3% (Up 15% since last update)
  • Buy Trades 19 ( 16 Top ups & 3 New Holdings)
  • Sell Trades 5
  • Takeovers 2

I am working towards reducing my number of holdings back down to weed out any low conviction holdings and any that are just too small to move the dial on overall portfolio performance. I read an interesting article which suggested that 20-25 stocks was about as high as you should go to be diversified and although I do agree, I have always found it hard to achieve. How many stocks do you hold?

I had added a few more in the COVID crisis as starter positions but need to consolidate again, down to a maximum of 30 Holdings and as mentioned ideally 25.

Looking at what I have been buying you will see that I have been trying to build positions in stocks that I already own and believe in. There has been some that I have been able to buy at better prices and some as usual that I am averaging up on as the story and performance progresses.

June

BUYS - CHH, VLG

In June I bought some Churchill China (LON:CHH) at £10.74 on the hope that Covid would be defeated by now... It was a play on the revival of the hospitality sector. I have always admired this company as a quality pick with ROCE and Operating Margin always in double digits and…

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