Portfolio reviews

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12th Jul '11 by AnonymousUser858

73 comments 36866 reads

I thought it might be interesting to invite fellow stockopedes to tell each other about their real life portfolios. Such disclosures should as a minimum list the companies held. Preferably the relative weightings also. But nothing so vulgar as absolute values, please.

If you have time to explain your reasons for making individual stock selections that would be very much appreciated, but you shouldn't hold back just because you don't have time to include that level of detail. You can always add in detail and texture later.......

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AnonymousUser858

Premium Member

73 comments

AnonymousUser858

12th Jul '11

I'll show you mine to get the ball rolling. I should preface the following by saying that my funds include both the pension funds and the non-pension savings of both myself and my wife. They exclude our equity in our home.

%
Aminex (LON:AEX) 5.5
Bayfield 5.3
BP 6.3
Coastal Energy (LON:CEO) 8.7
Deo Petroleum (LON:DEO) 5.0
EO 2.1
EnQuest (LON:ENQ) 2.0
Faroe Petroleum (LON:FPM) 1.5
Nautical Petroleum (LON:NPE) 3.7
Northern Petroleum (LON:NOP) 1.2
Petroceltic (LON:PCI) 4.0
Rocksource 2.0
SOCO International (LON:SIA) 15.6
Stratex (LON:STI) 2.5
Cash 34.5
-----------------------------
totals 100.0

The split between our pension/non-pension assets is about 50-50

There is a major difference between the 2 segments with respect to cash vs equities. The pension fund is only 7% in cash whereas the non-pension side is 63% in cash. I'm not going to go into the reasons for this difference here, but I will say I'm looking to change the balance somewhat. There is a real problem in the fact that ISA's cannot hold the majority of AIM listed stocks, which is a real inhibiting factor as far as I am concerned.

I'll explain my stock selections another time - and do a performance review as and when I get round to it.

chriswalden

12th Jul '11

CASH 73.3%
PFP5 19.8%
Faroe Petroleum (LON:FPM) 3.7%
BP. 1.6%
Aminex (LON:AEX) 1.2%
NTN 0.4% (TSX)

Split: SIPP 70%, ISA/Other 30%
Cash: SIPP 76%, ISA/Other 66%

I felt I should flee to cash around fiscal Y/E, because of the uncertainty surrounding erogenouszone debt, but somehow there was always stock specific newsflow just around the corner to dissuade selling, so got caught out in some measure, although not disastrous.

Given that I am fast approaching that age when we are supposed to take retirement income, I don't have the luxury of time on my side to recover, should there be a crash....so I've now substantially cashed up, other than a recent purchase of 5% Places for People bond which, according to my broker (yours too, RG) was underpriced at launch.

extrader

12th Jul '11

Hi rg,

Interesting range already ! Thanks for the initiative.

Excludes owned property and partner's assets (investments and pension). Split approx 45/55 SIPP/other. 'Other' is periodically 'bled' to cover living costs (now 56, I've not been 'gainfully' employed for a decade) and -as a late returnee to the UK - 'other' isn't as tax-wrapped as I'd like......

SOCO International (LON:SIA) - 40%
Kalahari Minerals (LON:KAH) - 12% (Kalahari Minerals - uranium resource)
EO. - 7%
Premier Oil (LON:PMO) - 6%
Cash - 6%
Faroe Petroleum (LON:FPM) - 5%
Hochschild Mining (LON:HOC) - 5% (Hochschild Mining - silver)
Petropavlovsk (LON:POG) - 4% (Petroplavlovsk - gold)
BB. - 4% (Bradford + Bingley subdebt)
ASOS (LON:ASC) - 3% (AsSeenOnScreen - internet retail)
Indigovision (LON:IND) - 3% (IndigoVision - security systems CCTV)
Coastal Energy (LON:CEO) / Dominion Petroleum (LON:DPL)/ Global Petroleum (LON:GBP)/ Polo Resources (LON:POL) - 3%
Aminex (LON:AEX) - 2%
Ocean Wilsons (LON:OCN) - 1% (OceanWilsons- Brazilian ports +infrastructure)

Given the top 3 holdings, the last year has been both too eventful and not eventful enough ! I'm hoping that , by "this time next year, Rodders", the composition will have changed somewhat.......

Extrader

emptyend

12th Jul '11

I'm not going to give percentages, since one of my holdings is in the public domain. However, I'm in a similar lifestyle position to extrader (drawing down capital) and summarise below in order of size, excluding property but including pension funds, ISAs etc:

Larger holdings:

SOCO International (LON:SIA)

Cash

Final salary pension "fund"

Aminex (LON:AEX)

Bond funds (linkers and conventionals)

Small holdings:

Global Petroleum (LON:GBP)

Lloyds (LON:LLOY)

BG (LON:BG.)

Ivy Medical Chemicals plc (Plus: IVMP) (currently suspended - in preliminary discussions with businesses within the pharmaceutical sector with a view to a transaction that would constitute a reverse takeover)

_______________________________________________________

In contrast to tournesolf, most of my cash (and bonds) is in the pension fund.

I remain cautious on the overall market (hence the cash and bonds) and am AIM-constrained anyway, thanks to the ISA....and I have to (nearly ;-)) echo extrader here:

Given the top 3 holdings, the last year has been both too eventful and not eventful enough ! I'm hoping that , by "this time next year, Rodders", the composition will have changed somewhat.......

alano20

12th Jul '11

Hi tournesol,

Like you our funds include both pension and non-pension savings, split 75% pensions/non-pensions. Soco of course stands out and there is a long tail. About the start of the year when Niko and Sterling were doing better, it looked a little better balanced. Property is excluded.

Soco	38.4%
Niko Energy	7.4%
Polo	6.7%
Coastal	5.9%
Tullow	4.9%
Cash	4.7%
Petroceltic	3.5%
Emerging Metals	3.1%
Kalahari Minerals	2.6%
Dominion Petroleum	2.4%
San Leon	2.3%
Encore Oil	2.0%
Sterling Resources	2.0%
Aminex	1.9%
Tower Resources	1.8%
Deo Petroleum	1.7%
Medusa Mining	1.4%
Heritage	1.4%
Cove	1.3%
Bowleven	1.1%
Bankers	1.0%
Vast Exploration	0.8%
Rodina	0.4%
Avanti Communications	0.3%
Northern Petroleum	0.3%
Falcon Oil & Gas	0.2%
Groundstar Resources	0.1%
Total	100.0%

Alan

AnonymousUser858

12th Jul '11

"....I'm not going to give percentages, since one of my holdings is in the public domain...."

Ah the joys of anonymity......

emptyend

12th Jul '11

Hah! ;-)

harryr

13th Jul '11

May want to check out my thread "Harry"s undervalued stocks".!!

All posted on this site.

All doing very , very, well.

Northacre (LON:NTA) 30p when posted [ up 400%]

F.T.S.-Formula Telecom Solutions (LON:FTS) 23p when posted just been de listed after paying out 32p [ up 40%]

I-Design (LON:IDG) 16p when posted [up 180%]

Westminster (LON:WSG) and Prime Focus London (LON:PFO) U /C are my last two stocks, that if my research is correct should be well up this time next year.

extrader

13th Jul '11

Hi all,

Even from the limited feedback so far, it appears that the inability of ISA's to accommodate AIM shares is a recurrent gripe.

Gubmint's reluctance to allow savers to hold such 'risky' shares in their (relatively short-term ?) ISA is somewhat inconsistent with its willingness to allow them in a SIPP as part of (longer term) pension planning.......

Most of my AIM holdings were (somewhat reluctantly) transferred into the SIPP as taper relief concessions were withdrawn, with the incidental benefit AIUI that they'd remain outside my eventual estate for IHT purposes.

I'd gladly forgo that (eventual) relief for the ability to hold AIM shares in my ISA now.

Extrader

chriswalden

13th Jul '11

Hi ee,

"In contrast to tournesolf, most of my cash (and bonds) is in the pension fund"

I am interested to know your rationale for not holding equities in your pension fund. You have referred occasionally to this in past posts over the last five years or so that I have read, but apologise if I have missed your reasoning.

Soco International, in particular, has been a fabulous investment for you from the early 30p (?) days, albeit the last three years has seen the shares off their high for well documented reasons, however you appear not to have held this share in your pension fund. Why?

Regards,

Chris

emptyend

13th Jul '11

Hi Chris,

I am interested to know your rationale for not holding equities in your pension fund. You have referred occasionally to this in past posts over the last five years or so that I have read, but apologise if I have missed your reasoning.

It is quite straightforward. My pension fund isn't self-managed, other than in respect of the fact that I can move holdings between funds (managed by 3-4 fund managers). Until October 2007 they were all fully invested in a range of equities (lots of Far East exposure as well as UK). I then sold the lot in late October at a point when the FTSE100 was at 6700 and switched into cash and bonds - and I've never gone back in again. In hindsight, of course, it was a mistake not to go back into equities in March 2009, but I wasn't expecting to see more than a 20% or so dead-cat bounce before the weak fundamental backdrop reasserted itself......so I was certainly wrong from late 2009 and through 2010. I still think equities in general are far from compelling and, since I can start drawing a pension from these funds in three years time, I don't think the risk/reward favours anything other than caution in my pension fund at present.

Soco International, in particular, has been a fabulous investment for you from the early 30p (?) days, albeit the last three years has seen the shares off their high for well documented reasons, however you appear not to have held this share in your pension fund. Why?

As I said above, my pension fund isn't self-managed and it holds no individual stocks. My entire SOCO holding (and indeed virtually all my shares) are already tax-sheltered in a self-select ISA - so there is nothing to be gained. In addition, I have always adopted a prudent approach towards the pension fund and managed it completely differently from the ISA. I believe that those who replicate holdings in ISAs and dealing accounts by holding the same stocks (or even sectors) in their pension funds are running more risk than they realise.

HTH

chriswalden

13th Jul '11

Thanks for a full reply, ee.

I still think equities in general are far from compelling and, since I can start drawing a pension from these funds in three years time, I don't think the risk/reward favours anything other than caution in my pension fund at present.

I certainly agree with that view. There is a further problem with vesting a SIPP in that annuity rates are currently, if understandably, dire, thus it is worth holding fire until interest rates begin to climb again and/or one's advancing years gradually improve the payback. My SIPP investments accordingly reflect extreme caution currently.

I believe that those who replicate holdings in ISAs and dealing accounts by holding the same stocks (or even sectors) in their pension funds are running more risk than they realise

I'm guilty of replicating holdings in ISA (where allowed) and SIPP, and wonder how many other investors do the same.

emptyend

13th Jul '11

I'm guilty of replicating holdings in ISA (where allowed) and SIPP, and wonder how many other investors do the same.

Quite a few I suspect. I can think of at least one here who may 'fess up.

One of the reasons I am content to have my pension funds entirely in funds managed by other people is that I regard it as a crucial diversification that prevents me from "blowing up" entirely. As it happens, over the last 12-15 years, my pension funds have marginally underperformed the market, whereas my self-managed ISAs have greatly outperformed.....but in part this is simply because the risk profile of my ISAs has been very much higher than my pension....

....and if things had unfortunately gone pear-shaped with my self-managed investments (as is very easy to do, as those who had self-managed holdings of banks, techs and even certain E&Ps have found out from time to time) then I would still have had a modestly comfortable cushion to look forward to when my pension funds could be drawn upon.

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AnonymousUser858

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