This page lists my holdings as of September 2021 and summarises my overall investing approach.
A quick overview
I’d like my portfolio to fund my retirement, from whatever time that happens to be. I suspect I will stay fully invested after I retire, living off my portfolio’s income and the occasional disposal. I’m effectively working part-time right now and I’d expect that to continue to a fair while yet.
I would class my portfolio as slightly conservative but still capable of decent growthh over the next few decades. I also want it to be fairly low maintenance, so I lean towards holdings that I can hopefully leave undisturbed for several years at least.
But I wouldn’t say I am completely wedded to any particular investing style and I expect to keep learning and adapt my portfolio accordingly as the years go by.
Going global… with some themes on the side
Based on these broad aims, most of my portfolio is in global investment trusts and funds.
For a little extra growth, I’m investing in a few themes that I like such as UK small-caps, technology, and biotech/healthcare. I’ve got a bit in infrastructure and renewables as well, to provide a little stability and income. I also have a small position in a venture capital trust (VCT) but I tend to group that with my UK small-cap trusts as it largely invests in the same sort of companies.
Overall, my investments are still somewhat weighted towards the UK. I reckon about 25% of my underlying holdings are UK-listed businesses, primarily through my small-cap and renewable/infrastructure positions, which is a lot higher than the 4% or so you’d get with a standard global tracker.
In addition to investment trusts, I also own an exchange-traded fund and a couple of open-ended funds. My wife and children also have some investments in various global index trackers.
What’s not listed here
I sometimes hold a few individual company shares but I don’t intend to list them here as they tend to be very small positions.
In terms of other assets, a decent chunk of my net worth consists of residential and commercial property. Therefore, I am not 100% exposed to equities. I also keep the usual ’emergency fund’ of cash to cover unexpected expenses.
I don’t own any fixed-income securities (i.e. bonds and gilts) right now although that is something I may add in future.
I don’t trade very often, typically just a few times a year, and when I do it’s usually to top up a holding I already own.
Some folks like to trade their investment trusts a bit more actively, perhaps looking to take advantage of discount moves, but I don’t tend to play that game. I’m looking for long-term trends and strategies instead.
As Charlie Munger famously said: “The first rule of compounding is never to interrupt it unnecessarily“.
Market timing isn’t my thing either as most evidence I’ve come across seems to show it’s extremely hard to do successfully on a consistent basis. That means I’m usually fully invested and I regularly reinvest my dividends.
I’ve written about my investing strategy in more detail, outlining what I am aiming to do and how I plan to do it. And you can find my portfolio reviews here, where I track my performance against global and UK index trackers on a quarterly basis.
None of the trusts listed below, or anywhere else on this site, should be considered as buy, hold or sell recommendations. That’s also why I tend to avoid stating any specific position sizes.
Please I am not registered to give any kind of financial advice and what I think suits my investment purposes and my tolerance for risk may not be appropriate for others.
As the saying goes, you should always do your own research.
I’ve organised my list of holdings into themes:
- Fundsmith Equity (Fund)
- JPMorgan Global Growth and Income (JGGI)
- Keystone Positive Change (KPC)
- Lindsell Train Global Equity (Fund)
- RIT Capital Partners (RCP)
- Smithson (SSON)
- Vanguard FTSE All-World ETF (VWRL)
- Acorn Income Fund (AIF)
- Baronsmead Venture Trust (BVT)
- BlackRock Smaller Companies (BRSC)
- Henderson Smaller Companies (HSL)
- HgCapital (HGT) #
# Hg is a private equity trust but it’s very heavily weighted to technology so, purely for my own purposes, I’m treating it as a technology trust.
- 2019 – City Of London Investment Trust (CTY)
- 2020 – Murray International (MYI) and Princess Private Equity (PEYS)
- 2021 – Caledonia (CLDN)
Please note that I may own some of the investments mentioned above -- you can see my current holdings on my portfolio page.
Nothing on this website should be regarded as a buy or sell recommendation as I'm just a random person writing a blog in his spare time and I am not authorised to give financial advice. Always do your own research and seek financial advice if necessary!
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