Jamie Leinhardt
United Kingdom
๐Ÿ”ธ ๐— ๐—ข๐—ก๐—ง๐—›๐—Ÿ๐—ฌ ๐—จ๐—ฃ๐——๐—”๐—ง๐—˜ ๐Ÿ”ธ ๐— ๐—ผ๐—ป๐˜๐—ต ๐Ÿฎ๐Ÿด โ€“ ๐—”๐˜‚๐—ด๐˜‚๐˜€๐˜ ๐Ÿฎ๐Ÿฌ๐Ÿฎ๐Ÿฏ August was a challenging month. Our portfolio declined by 2.3% which was behind our benchmark, the S&P 500, which was down by 1.8%. Our largest detractor by far was Fortinet ($FTNT (Fortinet Inc)), which declined 22.5% after it lowered its outlook for the year due to a greater number of delayed orders than expected. Fortinet was (and still is) a large allocation, currently 5.7% of our portfolio. Alone, it was responsible for 1.6% of the 2.3% decline in our portfolio. Our largest contributor was Novo Nordisk ($NVO (Novo-Nordisk A/S SPONS ADR)), which increased 15.6% during the month after reporting a large rise in profits and increasing demand for its drugs. It makes up 6.6% of our portfolio. A new addition to our portfolio, Elf Beauty ($ELF (elf Beauty Inc)) also performed well, increasing by 18.8% after reporting better than expected sales of its beauty products. I am considering whether I should increase my allocation to this company as it currently only makes up around 1.7% of the portfolio. August performance: Performance of our portfolio: -2.28% ๐Ÿ”ด Performance of the ๐—ฆ&๐—ฃ ๐Ÿฑ๐Ÿฌ๐Ÿฌ: -1.77% ๐Ÿ”ด Performance of the ๐—ก๐—”๐—ฆ๐——๐—”๐—ค ๐Ÿญ๐Ÿฌ๐Ÿฌ: -1.62% ๐Ÿ”ด ๐—Ÿ๐—ฎ๐—ฟ๐—ด๐—ฒ๐˜€๐˜ ๐— ๐—ผ๐—ป๐˜๐—ต๐—น๐˜† ๐— ๐—ผ๐˜ƒ๐—ฒ๐—บ๐—ฒ๐—ป๐˜๐˜€: Top contributors: $NVO, $NVDA (NVIDIA Corporation), $ELF Top detractors: $FTNT, NIBEB.ST, $RMS.PA (Hermes International) Iโ€™ve included a chart displaying the current composition of the portfolio as at the end of 31st August 2023. The monthly factsheet is also available on my website: www.jamiemarc.com/factsheet.php Regards, Jamie