As I had said I want to reduce the number of holdings that I have to make my portfolio more concentrated. When you hold too many stocks your time is spread across a lot of companies and you will find it harder to keep on top of things. Also when you have a big win it doesn’t make that much difference to your portfolio as it is so diverse…
With that in mind and preservation of capital in mind I have been keeping a close eye on my loosing positions. My 3 biggest loosers are MCL, PCF and FCCN they are all very small positions reflecting the level of confidence that I have in their prospects and their risk rating. As a result they are all in my sights for selling. They combined only account for 2% of my portfolio so very small holdings.
MCL has been slowly dropping off since its high at £1.86 back in March. It has a good Dividend of around 7% but I don’t have that much confidence that the share weakness will not continue. Their trading update on 5th of Sept showed customer number slightly down but overall in line with expectations. I don’t see any reason for MCL to outperform for now so would rather sell and consolidate my portfolio moving the funds into another existing holding that is outperforming.
Sold at £1.1726 including costs.