Page 48 - DIY Investor Magazine | Issue 31

PERFORMANCE BY HOLDING Here’s how my individual holdings have performed so far this year and in 2020. The names link to my most recent review of each holding. In the battle of the quality managers, Terry Smith outboxed Nick Train and Michael Lindsell, and Fundsmith has done better than Smithson. For the third year on the trot Lindsell Train Global Equity has lagged its benchmark, although it wasn’t far behind in 2019 or 2020, and it’s level with world markets over five years. I don’t expect Lindsell Train to make any major strategic changes and I’m happy to sit tight for now. Keystone bounced back a little after Baillie Gifford took over at probably the worst possible time for its style of investing in February of this year. At the end of August, it had nearly 13% of its assets in Moderna, which more than trebled this year, making it by far the best performing stock in the S&P 500, but it fell heavily on 1st October after Merck announced positive results for its COVID pill. Keystone has lagged Scottish Mortgage over the last six months but is well ahead of Baillie Gifford US Growth, Monks, and Edinburgh Worldwide. It continues to be a difficult year for healthcare stocks and for biotech in particular. BB Healthcare has done alright; both Worldwide Healthcare and International Biotechnology are in negative territory although they have done a lot better than sector rivals Syncona and Biotech Growth. Holding Acorn Income End of Q3 2021 35.70% 2020 -14.10% 21.60% -0.40% 6.20% 4.10% 15.90% -0.60% 10.80% 18.40% 12.20% 29.10% 31.70% -0.80% 11.90% -2.50% 7.00% 19.90% 35.60% HgCapital 30.00% RIT Capital Partners Baronsmead Venture Trust BlackRock Smaller Companies JPMorgan Global Growth & Income Henderson Smaller Companies Gresham House Energy Storage Fundsmith Equity Vanguard All-World ETF BB Healthcare 25.50% 22.00% 19.70% 18.40% 18.30% 15.90% 13.30% 12.60% 12.50% Smithson 9.20% Keystone Positive Change Lindsell Train Global Bluefield Solar Income HICL Infrastructure Worldwide Healthcare International Biotechnology 4.40% 2.90% -0.50% -0.70% -2.30% -8.30% It’s been a good year for UK smaller companies with Acorn, Baronsmead, BlackRock, and Henderson all in the upper echelons of my chart; Acorn Income’s discount narrowed because a cash exit is in sight, so it’s at the very top of the pile. My long-term holdings in HgCapital and RIT have both done very well; for Hg, it’s merely a continuation of the last few years while RIT spent some time in the doldrums so it’s good to see it bounce back, especially considering Lord Rothschild has officially retired as Chairman having run the trust for so long. DIY Investor Magazine · Nov 2021 48