๐ธ ๐ ๐ข๐ก๐ง๐๐๐ฌ ๐จ๐ฃ๐๐๐ง๐ ๐ธ
๐ ๐ผ๐ป๐๐ต ๐ฏ๐ฐ โ ๐๐ฒ๐ฏ๐ฟ๐๐ฎ๐ฟ๐ ๐ฎ๐ฌ๐ฎ๐ฐ
๐ข A massive 8.83% gain in February ๐ข
Our portfolio continued its strong performance in February, recording a gain of 8.8% in and outperforming all of the major indices:
S&P 500:
+5.2%
Nasdaq 100:
+5.3%
Dow Jones Industrial Average:
+2.2%
CAC 40 (France):
+3.5%
DAX Performance Index (Germany):
+4.6%
FTSE 100 (UK):
Flat
I did say last month that itโs important to remain realistic, and this level of outperformance is unusual. Iโm delighted that it has continued but itโs important not to expect this result every month.
I have continued to stick to my long-term strategy: buying and holding high quality companies with good growth prospects.
I did make a few changes to the portfolio in February. I sold our small positions in Crox and Nibe Industrier, and our medium-sized position in Pepsi. Each of these stocks had been underperforming and were, in my view, the lowest quality companies in the portfolio. I also reduced LVMH.
Using the proceeds, I added to several of our existing positions, with the largest increases being in Cadence Design Systems ($CDNS (Cadence Design Systems Inc)) and Hermes ($RMS.PA (Hermes International))
I also initiated a new position in Cyberark ($CYBR (CyberArk)), an information security software company which I believe complements our existing portfolio.
The largest contributor to Februaryโs performance was Nvidia ($NVDA (NVIDIA Corporation)), our largest holding, which gained over 28% and is now 17% of the portfolio.
Hermes ($RMS.PA), another large holding, also contributed significantly with a gain of 17% and is now just under 10% of the portfolio.
Elf beauty ($ELF (elf Beauty Inc)), a much smaller part of the portfolio, gained an impressive 30% during the month.
MSCI was our worst performing stock with a decline of 6% during the month.
Our portfolio is very concentrated, with our top 10 holdings now worth 77.5% of the total. This can lead to higher volatility in returns. Lower diversification is a higher risk strategy but can also lead to higher returns.
February performance:
Performance of our portfolio: 8.83% ๐ข
Performance of the ๐ฆ&๐ฃ ๐ฑ๐ฌ๐ฌ: 5.17% ๐ข
Performance of the ๐ก๐๐ฆ๐๐๐ค ๐ญ๐ฌ๐ฌ: 5.29% ๐ข
๐๐ฎ๐ฟ๐ด๐ฒ๐๐ ๐ ๐ผ๐ป๐๐ต๐น๐ ๐ ๐ผ๐๐ฒ๐บ๐ฒ๐ป๐๐:
Top contributors: $NVDA, $RMS.PA, $ELF
Top detractors: MSCI
Iโve included a chart displaying the current composition of the portfolio as at the end of 29th February 2024.
The monthly factsheet is also available on my website: www.jamiemarc.com/factsheet.php
Regards,
Jamie... Show More
