Portfolio Update August 2024
An update on the performance of the Compound & Fire portfolio in August 2024. Plus my first thoughts on the news today on the potential acquisition of Rightmove.
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August started very volatile with markets declining, but during the month the stock prices recovered. The Compound & Fire portfolio was almost flat and gained 0.11% during the month. The results for August 2024:
At the top of the list it is, similar as last month, Kinsale Capital Group. After their earnings last month I already mentioned the investment case is very strong.
Also Euronext and Liberty Sirius XM gained last month, both 3%. Euronext last month also announced earnings and the price is getting close to the fair value of 105 euro according to my earlier post on Euronext.
For Liberty Sirius XM September will be interesting, as the merger of the tracking shares and SIRI will take place. Berkshire has been adding to their position and I am very curious what the impact of the merger will be to my position.
Dino Polska was down in August as their earnings were below expectations of analysts. For me the investment case didn’t change and I have been adding to my position. In the table aboven I have add Dino as a separate line, just to show that the addition offsetted part of the loss of the original investment in August. Going forward I will put the total investment on one line.
Kelly Partners Group also declined in August, although they published outstanding results and announced a new acquisition in Florida. It’s great to see KPG is delivering and with the new addition in Florida and North Carolina, the investment case is standing strong.
ZIGExN announced two acquisitions in August and will be part of the small and medium sized enterprises index in Japan as of this month. It’s great to see the company investing their cash to grow the company.
Finally Rightmove dropped 3% in August, however today the stock is up a whopping 27% as News Corp backed REA (Ruport Murdoch) is interested in a takover of Rightmove. REA will have till end of September to make an offer or let Rightmove know their are not interested. What to do now… It is good to know REA is priced for perfection and for them it will make sense to acquire Rightmove partly with shares. Also market in UK was struggling and timing seems perfect for REA. There might also be other parties interested in Rightmove, which could result in a bidding war. I liked to see that Marathon Asset Management started a position today. I expect Marathon might think REA need to pay a premium of close to 40% to acquire Rightmove. When I look at my own forecast, I was expecting current stock price end of 2026. But as I expect this is the right time for REA to acquire Rightmove, I expect they will come with an offer and I will hold my shares for now. Here is my investment case from March 2024.
Finally, the total return since I start sharing my portfolio as per May 2024:
The portfolio has been performing well and the 100 in May has turned into 104.15 end of August.
The portfolio split as of today (including the upside on Rightmove):
Hopefully you have enjoyed this update of my portfolio. Feel free to like the post and share it with friends!
Disclaimer
The information in this article is provided for informational and educational purposes only.
The information is not intended to be and does not constitute financial advice or any other advice, is general in nature, and is not specific to you. Before using this article’s information to make an investment decision, you should seek the advice of a qualified and registered securities professional and undertake your own due diligence.
None of the information in this article is intended as investment advice, as an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any security, company, or fund. The author is not responsible for any investment decision made by you. You are responsible for your own investment research and investment decisions.
Your portfolio is looking great! Congrats on Rightmove