Matthew Griffiths @Henderstron: "End of August 2022 Update..."

United Kingdom

End of August 2022 Update (total holding +/- shown in brackets) August came in two parts. The first half showed strong growth across the portfolio, unfortunately the second half fell back, losing 2% overall. Although still ahead of where they started in July, both $EZJ.L (easyJet) (-49%) and $IAG.L (International Consolidated Airlines) (-29%) lost about 3% each. Our traditional Energy company $TLW.L (Tullow Oil) (-18%) fell back slightly on its July gains. $BHP (BHP Group Ltd ADR) again stood still. Renewable energy company $ORSTED.CO (Orsted A/S) (-8%) lost only a small part of its double digit percentage gains in July, ending August just over 1% down. The winner in Tech Services for August was $U (Unity Software Inc.) (-72%) showing gains of over 14% after showing good quarterly sales numbers growth. $CYBR (CyberArk) (-8%) also had a strong month, growing by over 10% after beating predicted revenue growth for Q2 22. $NFLX (Netflix, Inc.) (-31%) held largely steady after mid-month gains fell back. $UDMY (Udemy Inc) (-24%), although only representing a small position in the portfolio, had a great August, increasing its value by over 24%. September will feel the impact of the Fed’s public announcements around subduing runaway inflation. In the short term energy and interest rates still dominate the fear/greed balance. Top Open Trades $CRWD (Crowdstrike Holdings) +283% $SEDG (SolarEdge Technologies) +171% $NET (Cloudflare) +287% $AAPL (Apple) +139% $GOOG (Alphabet) +76% Worst Open Trades $U -72% $CINE.L -82% $BYND (Beyond Meat Inc.) -69%