2025 Review
2025 Review January 2026 2025 TLDR What I got right Beat #CGT benchmark again Reduced holdings count by 4 to 46 4 positive quarters (a first) What I got wrong Not appreciating the huge momentum in commodities after adding last year and this Underestimating the extent renewables' discounts would grow Review This has been a busy year in which we've been on holiday for around 16 weeks including a Machu Picchu trek the long way round via Choquequirao. This has been the first year of growth in all quarters, more a reflection of the strength of UK markets than anything I've pro-actively done. I was more than miffed to lose both #GACB and #BBGI having allocated large amounts for their dull and predictable income streams in our SIPPs. Asset Allocation I chose to re-classify our growing holding in #POLN from debt (ex-#HONY) to equities given its more PE-like structure. Reducing holdings and taking a loss on the likes of #HGEN has helped cleanse the portfolios of minor hol...