Twenty Largest Holdings, 30 April 2007

Here are my twenty largest holdings at the end of April (note that IT=Investment Trust and that figures represent percentage of portfolio). Cash stood at about 4%. Additions were made to Coffee Republic (through a share placing), Character Group, and Clarkson. BP was reduced. Gains so far this year - 10.3% compared to FTSE100 at 4.7% and FTSESmallerCos at 5.4%.

Coffee Republic 6.1
Character Group 5.9
Highway Insurance 4.0
Soco 3.1
Renold 3.1
Fayrewood 2.5
RC Group 2.3
Smaller Companies Dividend IT 2.1
Jupiter Dividend and Growth IT 2.0
BP 1.9
Burren Energy 1.8
British Insurance 1.8
Northern Recruitment 1.7
Keller 1.6
Clarkson 1.6
Dana Petroleum 1.5
Henderson Far East IT 1.4
Geong 1.4
Asset Management IT 1.4
Aminex 1.4

Top Ten Holdings, 23 March 2007

Figures show percentage of portfolio. Top ten holdings accounted for just over 38% of portfolio.

Coffee Republic 6.05
Character Group 4.83
Highway Insurance 4.00
Renold 3.32
E Wood 3.22
Soco International 3.12
RC Group 2.89
BP 2.52
Fayrewood 2.47
Smaller Cos Dividend Trust 2.14

2007: a difficult, but good, first quarter

Quite a lot of profit disappointments and negative trading statements, and I spent the first few weeks underperforming the FTSEAllShare. And yet, I've had a good quarter: at 30 March my portfolio had made 7.0% capital gain compared to the FTSEAllShare's 1.96% and the FTSESmallCo's 2.76%. That's over £32,000 (nearly $60,000) ....* Quite a chunk of the gains are due to strong gains in Character Toys and Coffee Republic ... plus a takeover for E.Wood, one of my top-ten holdings, effectively brought me nearly an extra £5,000 before breakfast one March morning.

* There's none for that greedy bloated socialist Gordon Brown (and I've gifted quite a lot of it to relatives and some friends) ... and, given our stupid inheritance/death tax rate of 40%, I've got nearly half a £million to spend at 40% off!