Portfolio

At the bottom of this page is a list of my holdings as of July 2020.

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.

Market timing isn’t my thing as most evidence I’ve come across seems to show it’s very hard to do on a consistent basis. Therefore, I’m usually fully invested, reinvesting any dividends I receive.

The thematic approach

Most of my portfolio is in global funds but I’m also investing in a few themes that I like: namely small-caps, private equity and infrastructure/renewables. I have roughly 25% of my total portfolio in these three areas. I also have a single venture capital trust (VCT).

My investments are somewhat weighted towards the UK. I reckon about 30% of my underlying holdings are UK-listed businesses, which is much higher than the 5-6% you’d get with a standard global tracker.

Where I have written about a trust or theme, I’ve linked to my most recent article about it in the list of holdings below.

You’ll see that, in addition to investment trusts, I also own an ETF (Vanguard All-World) and a couple of open-ended funds (Lindsell Train Global and Fundsmith Equity).

My wife and children also have some investments that I’ve chosen although they are just global index trackers.

What’s not listed here

I sometimes hold one or two individual company shares but I don’t intend to list them here. 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. So I am certainly 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/gilts) right now. That’s something I am thinking of adding, although it’s not an asset class that’s well served by investment trusts. However, there are a few trusts in the Flexible Investment sector that might suit my purposes.

My strategy

I’ve written about my investing strategy here with an overview of what I am aiming to do and how I plan to do it.

You can find my recent portfolio reviews here, where I track my performance against global and UK index trackers on a quarterly basis.

And I have produced an index page that sorts my blog posts into categories.

My portfolio

None of the trusts listed below, or anywhere else on this site, should be considered as buy, hold or sell recommendations.

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:

Global

  • Caledonia Investments (CLDN)
  • Fundsmith Equity (Fund)
  • JPMorgan Global Growth and Income (JGGI)
  • Lindsell Train Global Equity (Fund)
  • Murray International (MYI)
  • RIT Capital Partners (RCP)
  • Vanguard FTSE All-World ETF (VWRL)

Small-Cap

  • Acorn Income Fund (AIF)
  • BlackRock Smaller Companies (BRSC)
  • Henderson Smaller Companies (HSL)
  • Smithson (SSON)

Private Equity

  • HG Capital (HGT)
  • Princess Private Equity (PEYS)

Infrastructure/Renewables

  • Bluefield Solar Income (BSIF)
  • Gresham House Energy Storage (GRID)
  • HICL Infrastructure (HICL)

Venture Capital Trusts

  • Baronsmead Venture Trust (BVT)

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