Andrea Marcon @AndreaMarcon16: "📊𝗔𝘂𝗴𝘂𝘀𝘁 𝗢𝘃𝗲𝗿𝘃𝗶𝗲𝘄 / 𝗠𝗼𝗻𝘁𝗵𝗹𝘆 𝗨𝗽𝗱𝗮𝘁𝗲 Dear..."

Switzerland

📊𝗔𝘂𝗴𝘂𝘀𝘁 𝗢𝘃𝗲𝗿𝘃𝗶𝗲𝘄 / 𝗠𝗼𝗻𝘁𝗵𝗹𝘆 𝗨𝗽𝗱𝗮𝘁𝗲 Dear Copiers & Followers, As September begins, I thought I would write a 𝙨𝙝𝙤𝙧𝙩 𝙢𝙤𝙣𝙩𝙝𝙡𝙮 𝙪𝙥𝙙𝙖𝙩𝙚 post as always... 📈 August was a 𝗻𝗲𝘂𝘁𝗿𝗮𝗹 𝗺𝗼𝗻𝘁𝗵 𝗳𝗼𝗿 𝘁𝗵𝗲 𝗽𝗼𝗿𝘁𝗳𝗼𝗹𝗶𝗼, recording a minor +𝟬.𝟬𝟴% 𝗴𝗮𝗶𝗻, bringing the 𝗽𝗼𝗿𝘁𝗳𝗼𝗹𝗶𝗼'𝘀 𝗬𝗧𝗗 𝗽𝗲𝗿𝗳𝗼𝗿𝗺𝗮𝗻𝗰𝗲 up 𝘁𝗼 +𝟭.𝟱𝟬% (as of September 1st). We used the month to 𝗰𝗹𝗼𝘀𝗲 𝗮 𝗻𝘂𝗺𝗯𝗲𝗿 𝗼𝗳 𝗽𝗼𝘀𝗶𝘁𝗶𝗼𝗻𝘀 𝗮𝘁 𝗮 𝗽𝗿𝗼𝗳𝗶𝘁 𝗮𝗻𝗱 𝗰𝗼𝗻𝗳𝗶𝗿𝗺 𝗼𝘂𝗿 𝗴𝗮𝗶𝗻𝘀 (see detailed portfolio changes below). 𝗠𝗮𝗷𝗼𝗿 𝗺𝗮𝗿𝗸𝗲𝘁 𝗺𝗼𝘃𝗲𝗿𝘀 for us this month included: ◾ $PSPN.ZU (PSP Swiss Property AG) with a +𝟭𝟲.𝟮𝟭% 𝗴𝗮𝗶𝗻 ◾ $ATKR (Atkore Inc.) with a -𝟯𝟬.𝟭𝟮% 𝗱𝗿𝗼𝗽 on the back of a disappointing earnings report. As regards specific 𝙘𝙝𝙖𝙣𝙜𝙚𝙨 𝙞𝙣 𝙩𝙝𝙚 𝙥𝙤𝙧𝙩𝙛𝙤𝙡𝙞𝙤, we: ◾ Took 𝗽𝗿𝗼𝗳𝗶𝘁 on 𝟭/𝟮 of our investment in $CIG (Companhia Energetica de Minas Gerais-ADR) (+𝟭𝟲.𝟬𝟰% 𝗽𝗿𝗼𝗳𝗶𝘁) ◾ Took 𝗽𝗿𝗼𝗳𝗶𝘁 on 𝟭/𝟯 of our investment in $CRC (California Resources Corporation) (+𝟳.𝟵𝟬% 𝗽𝗿𝗼𝗳𝗶𝘁) ◾ Took 𝗽𝗿𝗼𝗳𝗶𝘁 on 𝟭/𝟮 of our investment in $CF (CF Industries Holdings Inc) (+𝟲.𝟴𝟵% 𝗽𝗿𝗼𝗳𝗶𝘁) ◾ Took 𝗽𝗿𝗼𝗳𝗶𝘁 on 𝟭/𝟯 of our investment in $NTR (Nutrien Ltd) (+𝟯.𝟮𝟭% 𝗽𝗿𝗼𝗳𝗶𝘁) ◾ 𝗢𝗽𝗲𝗻𝗲𝗱 a 𝗻𝗲𝘄 𝗽𝗼𝘀𝗶𝘁𝗶𝗼𝗻 in $UBS (UBS Group AG) (currently +1.73%) ◾ 𝗢𝗽𝗲𝗻𝗲𝗱 a 𝗻𝗲𝘄 𝗽𝗼𝘀𝗶𝘁𝗶𝗼𝗻 in $CTRA (Coterra EnerCoterra Energy Inc) (currently -3.37%) 🔍 𝗪𝗵𝗮𝘁 𝘁𝗼 𝗲𝘅𝗽𝗲𝗰𝘁 𝗶𝗻 𝗦𝗲𝗽𝘁𝗲𝗺𝗯𝗲𝗿... ◾ 𝗦𝗲𝗽𝘁𝗲𝗺𝗯𝗲𝗿, commonly known as the "𝘄𝗼𝗿𝘀𝘁 𝗺𝗼𝗻𝘁𝗵 𝗼𝗳 𝘁𝗵𝗲 𝘆𝗲𝗮𝗿 𝗳𝗼𝗿 𝘀𝘁𝗼𝗰𝗸𝘀" has stayed true to its name and 𝗸𝗶𝗰𝗸𝗲𝗱-𝗼𝗳𝗳 𝘄𝗶𝘁𝗵 𝗮 𝗺𝗮𝗷𝗼𝗿 𝘀𝗲𝗹𝗹-𝗼𝗳𝗳, with 𝘁𝗲𝗰𝗵 𝗴𝗶𝗮𝗻𝘁 $NVDA (NVIDIA Corporation) 𝘀𝗲𝗲𝗶𝗻𝗴 𝗮𝗻 𝗶𝗺𝗽𝗿𝗲𝘀𝘀𝗶𝘃𝗲 𝟵% 𝗱𝗿𝗼𝗽 𝗼𝘃𝗲𝗿 𝘁𝗵𝗲 𝗹𝗮𝘀𝘁 𝟱 𝗱𝗮𝘆𝘀. 𝗙𝗼𝗿𝘁𝘂𝗻𝗮𝘁𝗲𝗹𝘆, 𝘄𝗲 𝘁𝗼𝗼𝗸 𝗽𝗿𝗼𝗳𝗶𝘁 𝗼𝗻 𝗮 𝗻𝘂𝗺𝗯𝗲𝗿 𝗼𝗳 𝗽𝗼𝘀𝗶𝘁𝗶𝗼𝗻𝘀 prior to the sell-off, 𝗳𝗿𝗲𝗲𝗶𝗻𝗴 𝗳𝘂𝗻𝗱𝘀 𝘁𝗼 𝗽𝘂𝗿𝗰𝗵𝗮𝘀𝗲 𝘀𝗵𝗮𝗿𝗲𝘀 𝗮𝘁 𝗮 "𝗱𝗶𝘀𝗰𝗼𝘂𝗻𝘁𝗲𝗱" 𝗽𝗿𝗶𝗰𝗲 should market prices continue to fall. ◾ 𝗖𝗣𝗜 𝗡𝗲𝘄𝘀 𝗮𝗻𝗱 𝗶𝗻𝘁𝗲𝗿𝗲𝘀𝘁 𝗿𝗮𝘁𝗲 𝗱𝗲𝗰𝗶𝘀𝗶𝗼𝗻𝘀 will undoubtedly continue to influence market sentiment. Though sentiment will certainly affect the portfolio's performance in the short-term, it is important to remember that our 𝘀𝘁𝗿𝗮𝘁𝗲𝗴𝘆 𝗶𝘀 𝗯𝘂𝗶𝗹𝘁 𝘂𝗽𝗼𝗻 𝘃𝗮𝗹𝘂𝗲 𝗶𝗻𝘃𝗲𝘀𝘁𝗶𝗻𝗴 𝗶𝗻 𝘁𝗵𝗲 𝗺𝗶𝗱-𝗹𝗼𝗻𝗴 𝘁𝗲𝗿𝗺. ◾ 𝗗𝗶𝘃𝗶𝗱𝗲𝗻𝗱𝘀 are expected from a number of holdings, including: $MGY (Magnolia Oil & Gas Corp), $ESNT (Essent Group), $MRO and 𝗻𝗼𝘁𝗮𝗯𝗹𝘆 $PBR (Petroleo Brasileiro SA Petrobras-ADR), among others. Finally, I'd like to share my 𝗻𝗲𝘄, 𝘂𝗽-𝘁𝗼-𝗱𝗮𝘁𝗲 𝗳𝗮𝗰𝘁 𝘀𝗵𝗲𝗲𝘁 𝗽𝗿𝗼𝘃𝗶𝗱𝗲𝗱 𝗯𝘆 𝗲𝗧𝗼𝗿𝗼, allowing copiers and followers to 𝗺𝗼𝗿𝗲 𝗰𝗹𝗼𝘀𝗲𝗹𝘆 𝗳𝗼𝗹𝗹𝗼𝘄 𝗽𝗼𝗿𝘁𝗳𝗼𝗹𝗶𝗼 𝗽𝗲𝗿𝗳𝗼𝗿𝗺𝗮𝗻𝗰𝗲 𝗮𝗻𝗱 𝗰𝗵𝗮𝗻𝗴𝗲𝘀. You can access this new fact sheet via: 𝗵𝘁𝘁𝗽𝘀://𝗯𝘂𝗹𝗹𝗮𝘄𝗮𝗿𝗲.𝗰𝗼𝗺/𝗳𝗮𝗰𝘁𝘀𝗵𝗲𝗲𝘁/𝗔𝗻𝗱𝗿𝗲𝗮𝗠𝗮𝗿𝗰𝗼𝗻𝟭𝟲 This is all for now, happy trading everyone, Andrea

Not investment advice. The author may have financial interests in the mentioned instruments.