AndreaMarcon16 @AndreaMarcon16: "📊 𝗠𝗮𝗿𝗰𝗵 𝗢𝘃𝗲𝗿𝘃𝗶𝗲𝘄 / 𝗠𝗼𝗻𝘁𝗵𝗹𝘆..."

Switzerland

📊 𝗠𝗮𝗿𝗰𝗵 𝗢𝘃𝗲𝗿𝘃𝗶𝗲𝘄 / 𝗠𝗼𝗻𝘁𝗵𝗹𝘆 𝗨𝗽𝗱𝗮𝘁𝗲 Dear Copiers & Followers, As we head into April, I thought I would write a 𝙨𝙝𝙤𝙧𝙩 𝙢𝙤𝙣𝙩𝙝𝙡𝙮 𝙪𝙥𝙙𝙖𝙩𝙚 post as always... 📈 April was a 𝗽𝗼𝘀𝗶𝘁𝗶𝘃𝗲 month for the portfolio, ending with a +𝟭.𝟲𝟵% 𝗴𝗮𝗶𝗻, bringing our YTD performance up to a modest +1.61%. $TROX (Tronox Holdings PLC) in particular had a 𝘀𝘁𝗿𝗼𝗻𝗴 𝗺𝗼𝗻𝘁𝗵, recording a +19.04% performance in March. The month also proved positive for the market as a whole, with the 𝗺𝗮𝗷𝗼𝗿 𝗶𝗻𝗱𝗶𝗰𝗲𝘀 𝗯𝗲𝗶𝗻𝗴 𝗽𝘂𝘀𝗵𝗲𝗱 𝘁𝗼 𝗮𝗹𝗹-𝘁𝗶𝗺𝗲-𝗵𝗶𝗴𝗵𝘀, 𝗱𝗿𝗶𝘃𝗲𝗻 𝗹𝗮𝗿𝗴𝗲𝗹𝘆 𝗯𝘆 𝗮 continuation of the tech 𝗿𝗮𝗹𝗹𝘆 seen over this first quarter of 2024. We also used the month to continue increasing our exposure to the market, taking profit whenever reasonably possible (see stock sales below). As regards specific 𝙘𝙝𝙖𝙣𝙜𝙚𝙨 𝙞𝙣 𝙩𝙝𝙚 𝙥𝙤𝙧𝙩𝙛𝙤𝙡𝙞𝙤, we: ◾ Took 𝗽𝗿𝗼𝗳𝗶𝘁 𝗼𝗻 𝟮/𝟱 𝗼𝗳 𝗼𝘂𝗿 𝗶𝗻𝘃𝗲𝘀𝘁𝗺𝗲𝗻𝘁 in $TROX (+𝟭𝟰.𝟯𝟬% 𝗮𝗻𝗱 +𝟰.𝟵𝟱% 𝗽𝗿𝗼𝗳𝗶𝘁) ◾ Took 𝗽𝗿𝗼𝗳𝗶𝘁 on $VRN (Veren Inc) (+𝟭𝟯.𝟭𝟳% 𝗽𝗿𝗼𝗳𝗶𝘁) ◾ Took 𝗽𝗿𝗼𝗳𝗶𝘁 on $SWKS (Skyworks Solutions) (+𝟱.𝟬𝟳% 𝗽𝗿𝗼𝗳𝗶𝘁) ◾ Took 𝗽𝗿𝗼𝗳𝗶𝘁 on $C (Citigroup) (+𝟯.𝟴𝟮% 𝗽𝗿𝗼𝗳𝗶𝘁) ◾ 𝗢𝗽𝗲𝗻𝗲𝗱 𝗮 𝗻𝗲𝘄 𝗽𝗼𝘀𝗶𝘁𝗶𝗼𝗻 in $IPN.PA (Ipsen SA) (currently 𝘂𝗽 +𝟭𝟬.𝟬𝟰%) ◾ 𝗢𝗽𝗲𝗻𝗲𝗱 𝗮 𝗻𝗲𝘄 𝗽𝗼𝘀𝗶𝘁𝗶𝗼𝗻 in $CRC (California Resources Corporation) (currently 𝘂𝗽 +𝟵.𝟴𝟲%) ◾ 𝗢𝗽𝗲𝗻𝗲𝗱 𝗮 𝗻𝗲𝘄 𝗽𝗼𝘀𝗶𝘁𝗶𝗼𝗻 in $ASO (Academy Sports and Outdoors Inc.) (currently 𝘂𝗽 +𝟭.𝟲𝟵%) March also saw a number of 𝙙𝙞𝙫𝙞𝙙𝙚𝙣𝙙 𝙥𝙖𝙮𝙢𝙚𝙣𝙩𝙨 from shares in the portfolio, including $PFE (Pfizer), $TFC (Truist Financial Corp), $MGY (Magnolia Oil & Gas Corp), $MRO (Marathon Oil Corp), and $CRC among others. 🔍 𝗪𝗵𝗮𝘁 𝘁𝗼 𝗲𝘅𝗽𝗲𝗰𝘁 𝗶𝗻 𝗔𝗽𝗿𝗶𝗹... ◾ Just as in the previous months, markets will 𝘂𝗻𝗱𝗼𝘂𝗯𝘁𝗲𝗱𝗹𝘆 𝗯𝗲 𝘀𝘄𝗮𝘆𝗲𝗱 𝗯𝘆 𝘁𝗵𝗲 𝗰𝗼𝗻𝘁𝗶𝗻𝘂𝗲𝗱 𝗿𝗲𝗹𝗲𝗮𝘀𝗲 𝗼𝗳 𝗖𝗣𝗜 𝗱𝗮𝘁𝗮 and the potential for news on interest rate cuts or lack thereof. ◾ We will 𝗰𝗼𝗻𝘁𝗶𝗻𝘂𝗲 𝘁𝗼 𝗴𝗿𝗮𝗱𝘂𝗮𝗹𝗹𝘆 𝗶𝗻𝗰𝗿𝗲𝗮𝘀𝗲 𝗼𝘂𝗿 𝗲𝘅𝗽𝗼𝘀𝘂𝗿𝗲 𝘁𝗼 𝘁𝗵𝗲 𝗺𝗮𝗿𝗸𝗲𝘁, 𝗱𝗲𝘀𝗽𝗶𝘁𝗲 𝘁𝗵𝗲 𝗼𝗻𝗴𝗼𝗶𝗻𝗴 𝗿𝗲𝗰𝗼𝗿𝗱-𝗯𝗿𝗲𝗮𝗸𝗶𝗻𝗴 𝗿𝗮𝗹𝗹𝘆, while 𝗺𝗮𝗶𝗻𝘁𝗮𝗶𝗻𝗶𝗻𝗴 𝗳𝗼𝗰𝘂𝘀 𝗼𝗻 𝘁𝗵𝗲 𝗽𝗿𝗶𝗻𝗰𝗶𝗽𝗹𝗲 𝗼𝗳 𝘃𝗮𝗹𝘂𝗲 𝗶𝗻𝘃𝗲𝘀𝘁𝗶𝗻𝗴, and taking profit whenever possible. ◾ We will be expecting 𝗱𝗶𝘃𝗶𝗱𝗲𝗻𝗱𝘀 from: $STERV.HE (Stora Enso Oyj), $TROX, $KCR.HE (Konecranes Oyj), $RITM (New Residential Investment Corp) and notably $PSPN.ZU. This is all for now, happy trading everyone, Andrea