Update No. 316 – Tony
Category Archives: Regular Updates
These are the EGP Capital regular reports.
04
Oct
Oct
Update No. 315 – Tony
Update No. 314 – Tony
Update No. 313 – Tony
We have decided to consolidate all monthly reporting into the one report. The report is 18 pages this month, so there’s still plenty of content. Future blogs will link the update for the month, all commentary pertinent to the month in question will be contained within the update – Tony
05
Jun
Jun
Given the tough stretch we’ve had in terms of the market price of our holdings, I committed last month to describing a few of the investments we have made that have caused this underperformance and this month I will go through the first of these. We migrated a small holding in Mitula Group (MUA.ASX) into […]
03
May
May
This month we are going to discuss an investment we have made in an unlisted company called Tellus Holdings Ltd. We have been looking for a way to profit from the burgeoning renewable energy market and figure the way that looks to have the greatest potential for long-term profitability is waste storage. Storage of solar […]
04
Apr
Apr
We start with the March sales. We sold our Veris (VRS.ASX) shares this month. Veris is one of the stocks we liked to capture the infrastructure boom currently underway. It was a small investment for us though which generated a respectable return despite imperfect execution. We purchased 1,649,900 shares at an average price of 15.8c, […]
02
Mar
Mar
As mentioned in the Monthly Newsletter February 2018 was the worst month in the short life of the EGP Concentrated Value Fund. It was also the worst month since June 2013 for the history of both funds we’ve operated. As I mentioned in the newsletter, for the most part, although disappointed to have to report short-term […]
01
Feb
Feb
I haven’t prepared a blog relating to a specific EGP investment this month. January has been in part some travel through Spain & Portugal and in the second half, mostly preparation for the upcoming reporting season in February. Instead of writing about a stock, I thought I’d sit at the keyboard and freestyle; let us […]
04
Jan
Jan
We have used December to commence the cleaning of house. When EGPCVF was created, a number of our smaller holdings carried over from EGP Fund No. 1 became redundant in light of our enlarged capital base. We eliminated a few of these this month. First was the disposal of a small holding in US Residential […]
01
Dec
Dec
We will devote this month’s blog to discussing one of our smaller positions. This discussion will be useful in part in helping fellow investors better understand why we size our positions in the way that we do. At the end of November 2017, our 18th largest position was our holding in Redbubble (RBL.AX – www.redbubble.com). […]
02
Nov
Nov
We have committed to revealing our positions as they are finalised. The investment we will discuss this month is Global Construction Services (GCS). GCS is a fairly small business in the engineering and construction sector. It was the first new business we bought with conviction after the new EGPCVF trust was created on August 15th. […]
03
Oct
Oct
The fund took on its last ever new investors this month. As I said in the September 2017 monthly letter, we consider the small investor group we will take forward with EGP Concentrated Value Fund to be like a club that had a very small window of opportunity to join. We will work intently over […]
05
Sep
Sep
Welcome to the first blog relating to the EGP Concentrated Value Fund. The monthly report relating to August can be found in the performance section of the website (here), along with every other report we’ve ever produced for the predecessor fund. The first fortnight went well, with a 1.1% positive result for the fund against […]