🔸 𝗠𝗢𝗡𝗧𝗛𝗟𝗬 𝗨𝗣𝗗𝗔𝗧𝗘 🔸
𝗠𝗼𝗻𝘁𝗵 𝟮𝟴 – 𝗔𝘂𝗴𝘂𝘀𝘁 𝟮𝟬𝟮𝟯
August was a challenging month. Our portfolio declined by 2.3% which was behind our benchmark, the S&P 500, which was down by 1.8%.
Our largest detractor by far was Fortinet ($FTNT (Fortinet Inc)), which declined 22.5% after it lowered its outlook for the year due to a greater number of delayed orders than expected. Fortinet was (and still is) a large allocation, currently 5.7% of our portfolio. Alone, it was responsible for 1.6% of the 2.3% decline in our portfolio.
Our largest contributor was Novo Nordisk ($NVO (Novo-Nordisk A/S SPONS ADR)), which increased 15.6% during the month after reporting a large rise in profits and increasing demand for its drugs. It makes up 6.6% of our portfolio.
A new addition to our portfolio, Elf Beauty ($ELF (elf Beauty Inc)) also performed well, increasing by 18.8% after reporting better than expected sales of its beauty products. I am considering whether I should increase my allocation to this company as it currently only makes up around 1.7% of the portfolio.
August performance:
Performance of our portfolio: -2.28% 🔴
Performance of the 𝗦&𝗣 𝟱𝟬𝟬: -1.77% 🔴
Performance of the 𝗡𝗔𝗦𝗗𝗔𝗤 𝟭𝟬𝟬: -1.62% 🔴
𝗟𝗮𝗿𝗴𝗲𝘀𝘁 𝗠𝗼𝗻𝘁𝗵𝗹𝘆 𝗠𝗼𝘃𝗲𝗺𝗲𝗻𝘁𝘀:
Top contributors: $NVO, $NVDA (NVIDIA Corporation), $ELF
Top detractors: $FTNT, NIBEB.ST, $RMS.PA (Hermes International)
I’ve included a chart displaying the current composition of the portfolio as at the end of 31st August 2023.
The monthly factsheet is also available on my website: www.jamiemarc.com/factsheet.php
Regards,
Jamie... Show More
