gray and brown mountain

In our monthly portfolio review, we give a run down of our performance across asset classes, along with any notable changes in positioning.

Summary

July P/L = +13.09%

FX 

Foreign Exchange proved to be a very profitable market for us during July, capitalizing on trend reversals in JPY and also event risk trading with central banks. This was true with positions both sides of EURUSD and GBPUSD, along with some more unusual pairs on EURJPY. The sector generated us 10.17% profit for the month, the best performance so far this year.

Stocks

We finally posted a positive month for equities, namely 2.8%. This was driven by earnings beats for some of our growth stock holdings. It was also helped by gains in CMC Markets and Desktop Metals.

We also tactically traded on Affirm and CyberArk during July, to try and add additional alpha over and above our core holdings.

Although it’s too early to call a renewed bull run for major indices, we are optimistic about the ability to stock pick well for the summer.

Crypto And Others

We traded some natural gas positions during July, and were stopped out. However, at a broad level we are happy to try out new markets if there is the potential for gains. We also added in some Bitcoin exposure, which is in the money for month end.

In a similar way for stocks, we don’t think a crypto bull run is here, but like to have our toes in the water with some small exposure, to build up when the time is right.

August actions

We are currently sitting in circa 45% cash, reflecting the uncertainty of global markets at present. This gives us plenty of capital to be able to deploy quickly when needed.

For August, we are aiming to emulate July for FX, along with tactical equity trades to support our core holdings.

We are an accredited investor via the CopyTrader function on Etoro, our affiliate partner. This means you can directly invest in our portfolio. To do this, register here.

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