OPTI:Optibiotix was the worst performer, dropping 11%. My holding is now down by £87,682, which is two thirds of my entire deficit. These are single-handedly ruining my entire portfolio. I'm pretty sick of the broken promises, dreadful spin of mediocre deals, and the fact that currently nobody in their right mind would touch this share with a bargepole. I just keep sitting here hoping Sweetbiotix actually comes to something, else I'll never get to retire as it will take the rest of my life to plug the hole this company has made in my savings.
FDM:FDM Group dropped 8% to go 36% down. This has been a lesson in not buying magic formula shares just because they are near the top of my ranking spreadsheet, but to check the momentum of the share price. These were dropping when I bought them, and although I think they will bounce back, it's not much use when they are already so far down.
BPM:BP Marsh & Partners dropped 5% after announcing the sale of Sterling Insurance of which it owns 20% to ATC Insurance, of which it owns 25% which rises to 27% as ATC are giving equity to Sterling shareholders as part of the takeover. This seems like a good deal to me, so I don't understand why it resulted in a 5% drop in share price. My holding is now 13% down, but with a P/E ratio of just 5.5 I think this has lots of scope to improve.
SAE:Simec Atlantis Energy dropped 5% to go 74% down.
TLOU:Tlou Energy dropped 5% to go 37% down, but it seems to swing backwards and forwards by 5% without the price really following any trend. It will take news of power generation to get this moving, which is still some way off.
GAW:Games Workshop went up 5% which is an all-time high and puts my holding up by 73%. They are on a high P/E ratio of 35% so growth is priced in, and a lot depends on the success of the Amazon Warhammer collaboration. If they do drop then I have plenty of a buffer so should be able to retain a profit even if things go horribly wrong.
III:3i Group also went up 5% to take ny holding 166% up. I regret getting spooked by stories of hedge funds shorting the stock, as I sold half my original holding so the 166% is only on an investment of £500. Even at such a high share price, the P/E ratio is still only 8.2, so they could still double from here.
POLR:Polar Capital went up 5% and are now only 20% down, which is a lot better than a few months ago. I think they hold a lot of US tech stock so got hammered more than others by the tariff issues. Their P/E ratio is only 11 so I think I paid a fair price and should at least get back to break even if things stay as they are.
CWR:Ceres Power continue to yo-yo wildly and went up 9% this week, but are still 64% down. Hopefully this time it's the start of a turnaround for hydrogen stocks, as we'll see below.
Share of the Week is my other hydrogen stock AFC:AFC Energy, which went up a magnificent 38% after announcing a deal with a global industrial S&P 500 company to develop ammonia crackers for hydrogen production. Hopefully this deal alone will be enough to move them towards profitability, and hopefully there are more to come.
Here's the ISA and shares portfolio after week 45 of year 11.
| Weekly Change | |||
| Cash | £105.99 | -£47.03 | |
| Portfolio cost | £113,353.18 | -£999.29 | |
| Portfolio sell value (bid price-commission) | £41,046.88 | (-63.8%) | -£856.11 |
| Potential profits | £0 | +£0 | |
| Yr 10 Dividends | £180.12 | +£0 | |
| Yr 10 Interest | £1.11 | +£0 | |
| Yr 10 Profit from sales | £284.97 | -£42,58 | |
| Yr 10 proj avg monthly profit | £36.61 | (0.5%) | -£5.40 |
| Total Dividends | £12,488.07 | +£0 | |
| Total Interest | £7.91 | +£0 | |
| Total Profit from sales | £17,560.27 | -£42.58 | |
| Average monthly cash profit | £249.21 | (3.6%) | -£0.88 |
| (Sold stocks profit + Dividends - Fees / Months) | |||
| Compound performance | 35% | +0% |
I needed to sell my WHR:Warehouse REIT shares to pay for my holiday. They were in my dealing account and only ever meant to be a short term holding. I sold my 910 shares at 105.6833p and made a £42.57 (4.7%) loss, but if you take account of the £107 dividends, I was up by 7% overall. These have dropped out of the top 50 in my magic formula ranking so I won't buy back, and they may still get bought out shortly anyway. I took £1,000 out of the account so the injection amount has reduced.
Portfolio value dropped £856 mostly thanks to OPTI:Optibiotix, but a 0.5p drop in PBX:Probiotix Health also contributed. Long term performance was only affected by 88p a month, but Year 10 took a bit of a blow by £5 a month and my return from sales and dividends is only 0.5% with only 7 weeks of Year 10 to go.
Down we go.
Right on the trend line and continuing to follow it down. Not quite the worst it's been for 12 months but not far off.
Not much of an impression made by the tiny loss as this continues to sink gradually.
Where to start - an awful lot changed this week. It was triggered by JLP:Jubilee Metals announcing they are planning to sell their entire South African business for $90 million. This is the source of most of their income and removes all diversity from the company. It's also to be paid over 3 years so dependent on the company buying it being capable of paying it off, and it seems to undervalue the business. In my view this massively increases the risk of holding JLP.
Down we go.
Right on the trend line and continuing to follow it down. Not quite the worst it's been for 12 months but not far off.
Not much of an impression made by the tiny loss as this continues to sink gradually.
The SIPP looks like this after week 497 overall and week 29 of year 10.
| Weekly Change | ||||
| Cash | £425.81 | -£176.14 | ||
| Portfolio cost | £130,472.52 | +£760.36 | ||
| Portfolio sell value (bid price - commission) | £69,881.98 | (-46.4%) | -£972.45 | |
| Potential profits | £6,049.38 | +£175.68 | ||
| Yr 10 Dividends | £1,068.15 | +£63.40 | ||
| Yr 10 Interest | £2.23 | +£0 | ||
| Yr 10 Profit from sales | £2,663.45 | +£287.58 | ||
| Yr 10 proj avg monthly profit | £537.47 | (7.5%) | +£32.54 | |
| Total Dividends | £17,184.80 | +£63.40 | ||
| Total Interest | £15.13 | +£0 | ||
| Total Profit from sales | £19,671.39 | +£287.58 | ||
| Average monthly cash profit | £308.24 | (4.3%) | +£2.30 | |
| (Sold stocks profit + Dividends - Fees / Months) | ||||
| Compound performance | 41% | +0% |
Where to start - an awful lot changed this week. It was triggered by JLP:Jubilee Metals announcing they are planning to sell their entire South African business for $90 million. This is the source of most of their income and removes all diversity from the company. It's also to be paid over 3 years so dependent on the company buying it being capable of paying it off, and it seems to undervalue the business. In my view this massively increases the risk of holding JLP.
With that in mind I sold all the JLP shares from my SIPP that were in profit. It still leaves me with a hell of a lot, but it means I get to re-direct a chunk of funds from high risk to magic formula shares in my SIPP, given that the reason I bought JLP in the first place in the SIPP was because I thought it would make a quick profit, but that's not happened or going to happen.
First I sold part of my AJ Bell holding, selling 56,272 shares at 3.966p making £211.79 (10.4%) profit. This liberated £2,226.75. I checked out my magic formula spreadsheet and picked 2 shares that are in the top 30 ranking and which seem to have some upward momentum in their share price.
The first is BEZ:Beazley. They were founded in 1986 and are a global insurance company. They rank 18th on my magic formula spreadsheet and the share price has been growing steadily for the last 2 years. Their P/E ratio is only 5.4 so there should be plenty more room for growth. They ranked 7th highest for 5-year earnings per share growth and 12th highest for ROI. Dividend is only 2.6% but if the share price goes up then so will that percentage based on my purchase price. I bought 113 shares at 962.2495p costing £1,097.78.
The other new share is RNWH:Renew Holdings who provide engineering services for UK projects. They hold 10 subsidiary companies and operate in rail, infrastructure, energy and environmental sectors. Their share price had been rising steadily until January 2025 when a profit warning from the rail part of the business caused a 22% drop in share price. Since then they have reported a record order book and the share price has recovered much of what was lost in January, but is still 30% off its peak price, although P/E ratio is 15 so it appears the current price is about right. They rank 18th for 5-year earnings per share growth and 23rd for ROI and pay a 2.5% dividend. I bought 157 shares at 822.895p costing £1,296.95.
Next I sold some of my Hargreaves Lansdown JLP:Jubilee Metals shares. I sold 72,363 shares at 3.966p making just £75.79 (2.7%) profit, but liberating £2,857.97.
I decided to invest in existing shares rather than new ones.
First I bought 32 shares in ALPH:Alpha Group International at 3078.6095p costing £1,002.04. That takes my holding to 72 shares. They are currently up by 11% and in discussion about being taken over. I'm hoping if they do get taken over it will be for around £40 a share, which will give me a 43% profit of £866. If they don't get taken over, then they sit 39th in my magic formula rankings so I'll hold until they drop out of the top 50. At a P/E ratio of 15 they are currently fairly priced so I'm hoping they will at least maintain that.
Finally I bought more of my favourite company CAML:Central Asia Metals, as I wanted to keep some of the JLP money in copper, and CAML are on P/E ratio of 5.9 which is ludicrous, especially after the recent announcement that they are buying a new company based in Australia, meaning they are involved in Kazakhstan, Macedonia and Australia. They may have to change their name! I bought 1,311 shares at 163.904p costing £2,160.73. That takes my total SIPP holding to 4,336 shares costing £7,408 which are currently down by £340 which isn't a lot. They are still 13th on my magic formula ranking and pay an eye-watering 10.99% dividend. They've taken a hit to their 5-year earnings per share growth, which is -5% at the moment due to expensive capital works in Macedonia, but they should begin to bear fruit now. I want to get my holding up to £10,000 so will buy more if I get a chance to sell more JLP, and I should be getting another £2,000 transfer in early July I can put into these.
So the upshot is that portfolio cost went up by £760, value dropped by £972 but more like £600 if you take into account banked profit, potential profits are up £175 despite cashing some in, Year 10 performance improved and is now at 7.5% halfway through the year, but long term performance only went up by £2 a month and is still poor at 4.3%. I also received a £63 dividend from FOUR:4imprint and added my £250 monthly savings ready to invest in that company next week.
Similar shape to the ISA
Exactly the same as the ISA, touching the trend line and steadily dropping for almost a year.
Nice to see a slight upturn in the green line, and the trend line is pointing upwards. Surprising given the SIPP is meant to be "hold forever" shares!
All eyes will be on JLP:Jubilee Metals next week. The market hasn't had a chance to digest the sale of the South African business yet. It could be looked on favourably as it gives lots of capital for expansion in Zambia, which is also a much more stable county to operate in. Unfortunately we're not making enough revenue from copper yet to be able to replace the chrome and PGMs in South Africa, so I suspect everything rides on announcing strong copper revenue. We may be treading water until then. The price did sneak up 3% this week which may offer some encouragement.
