Andrew Rice
United Kingdom
Dear Investors, Special thank you to all copiers and followers for your support this year. With only a few trading sessions to go in 2025, the portfolio stands at a year to date return of +52.1% vs +16.5% for the $SPX500 and +19.8% for the $UK100. It’s been a strong year of performance across the portfolio, with some standouts including $LLOY.L (Lloyd's Banking Group PLC) up 76.0%, and $BARC.L (Barclays) up 75.7%, amongst others. The 2 year portfolio return is +117.6% and on track for the objective of finding long term value in the UK market. Lots more to go for in 2026. Andy
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