Hello Fellow HC’s,
I wanted to kick off a discussion focused on long-term investing, including portfolio reviews, feedback, and idea sharing. I participate in various global threads like HC, and I appreciate how other investors who are actively building their portfolios share their positions, weightings, and the rationale behind their choices. This exchange helps us all improve our investing strategies. I was not able to see a thread like this, so thought to start one.
Current Holdings as of 12th May 2025.
*Cash is high as booked profits on the ATH of marketscoming into the new FY and have been slow to allocate.
I typically approach investing with a concentrated strategy, maintaining around 15 to 20 positions, predominantly in small and micro-cap stocks. My investment style isn't fixed; I tend to mix it up based on my objectives, overall market conditions, and where I aim to improve performance.
Currently, my portfolio includes a blend of undervalued stocks, growth opportunities, speculative plays, dividend payers, and some higher-risk options like BOT, SHG, and FRE, which I’ve just begun to explore. Year to date (as of January 1, 2025), my portfolio is up by 6%. I don't follow the fiscal year-end since I also manage a global portfolio focusing on Indian equities, so I set IBKR to the beginning of each calendar year. For the fiscal year 2025 (from July 1 to June 30), my fund has appreciated by 14.43% (inc dividends).
I tend to weight my positions, starting with a small “starter position” of around 1-2% in new ideas and then gradually building up to a full position, which caps at 5%. I do let my winners run, as seen with Boss and M7T. If anyone’s interested, I can share my methodology and the rationale behind each position.
Although I am categorised as a long-term holder, it’s rare for a stock to remain in my portfolio for more than five years. I draft a thesis for each investment with the intention of holding long-term, but in this smaller space, circumstances can shift quickly, and investment theses often break down.
My thesis and the reasons for holding each stock are grounded in the principles of Steinhardt, which include:
1. What is the idea behind the investment?
2. What is the consensus view and my target price range?
3. What is my variant perception?
4. What catalyst will bring this idea to fruition?
I assess each investment based on its current market price, and if it falls short of my criteria, I'm quick to cut my losses.
I expect there will be plenty of criticism/opinions regarding my individual holdings, and I welcome it. I’d rather be wrong sooner rather than later, so any suggestions for different holdings or alternative viewpoints are appreciated.
I'm not concerned about being mistaken; my focus is on improving in any way I can. I've found this forum to be incredibly helpful, and I appreciate the insights from the many successful investors and members here on HC.
I invest full time, I also have a separate trading portfolio; however, building a long-term portfolio is usually my core focus. I have been full-time since GFC era.
No down years, and managed double-digit CAGR every year since.
Being adaptable and not anchoring to any investment style, bias, ideology about markets etc...I go anywhere, invest in anything as long as the reasoning and asymmetry stack up.Feel free to add your own portfolios, holdings and reasons behind the holdings and your investment styles. Let’s see if we can have a constructive thread for long-term portfolio building.
