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

United Kingdom

End of July 2022 Update (total holding +/- shown in brackets) In July there has been much positive movement. The Top Open Trades positions have all seen strong growth, and the Worst Open Trades has 2 of 3 making a move closer to green. Both Transportation holdings $EZJ.L (easyJet) (-47%) and $IAG.L (International Consolidated Airlines) (-24%) ended the month in the green, gaining just over 7% and 8% respectively. Energy company $TLW.L (Tullow Oil) (-13%) recovered from a bad June with a solid 9% gain on positive news surrounding investment in a new project in Kenya. Both $BHP (BHP Group Ltd ADR) (+1%) and $RIO.L (Rio Tinto) (+5%) largely trod water for the month. In Utilities $ORSTED.CO (Orsted A/S) (+5%) enjoyed gains of over 14% as it ended the month with a new onshore developer acquisition which brings with it increased capacity of around 1.7GW. In Health Technology $GSK.L (GlaxoSmithKline) (-10%) has fallen back after the demerger. Tech Services favourite $NET (Cloudflare) (+4%) came back into the green, increasing its value by over 15% as it expands into Australia and New Zealand and enjoys positive coverage. $ACN (Accenture Plc) (+29%) provided for some more positive movement up 10%. $MONY.L (Moneysupermarket.com Group PLC) (-13%) also recovered for the second month in a row, by around 17% as it beat forecasts and grew revenue in the last 6 months by 19%. $AAPL (Apple) (+107%) rounds out the strong tech winners in July, gaining more than 18% after similarly posting strong results for the quarter as well as a $0.23 quarterly dividend. Our favourite Durable Goods player $TSLA (Tesla Motors, Inc.) (-7%) had a strong July, gaining more than 32% as their Q2 drove positive sentiment. August will help us determine whether this positive momentum is a brief inflation-driven move to larger cap businesses, or a more sustainable return of investor confidence driving long positions across more of the portfolio. $MIDD.L (iShares FTSE 250 UCITS ETF) (-6%) growth of the FTSE 250 Mid-Caps of around 7% is promising, as is the performance of $IJR (iShares Core S&P Small-Cap ETF) (-4%), tracking an almost 10% increase in S&P Small-Caps. Top Open Trades $CRWD (Crowdstrike Holdings) +285% $SEDG (SolarEdge Technologies) +254% $NET +211% $AAPL +147% $GOOG (Alphabet) +88% Worst Open Trades $U (Unity Software Inc.) -75% $CINE.L -63% $SPCE (Virgin Galactic Holdings Inc) -62%

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