Compounder Fund: Portfolio Update (August 2021) - 23 Aug 2021
Jeremy and I intend to share frequent but non-scheduled updates on how Compounder Fund’s portfolio looks like. The last time we shared an update on this was for Compounder Fund’s portfolio as of 10 July 2021.
In it, I shared all 47 holdings in the fund’s portfolio. As of the date of this update (23 August 2021), the portfolio contains the same 47 holdings and the addition of one new stock: Upstart.
In our mid-July 2021 portfolio update, we shared that there was a 1.0% cash position in Compounder Fund. We used some of this cash, along with cash that we got from a partial sale of the fund’s a2 Milk stake, to invest in Upstart. Our detailed investment thesis on Upstart can be found here.
Here’s how Compounder Fund’s portfolio looks like as of 20 August 2021:
We’re sharing all this information with the public and with the fund’s investors for two reasons. First, we believe deeply in investor education and want Compounder Fund’s return and actions to be a source for people to learn about investing. Second, we believe that this transparency will help investors of Compounder Fund develop comfort with our investing process over time, which is great; in turn, this will also free us from the time-consuming activity of dealing with questions on how we invest, and thus give us more to invest better for our investors.
Here’s an important disclaimer: None of the information or analysis presented is intended to form the basis for any offer or recommendation; they are merely our thoughts that we want to share. Holdings are subject to change at any time.
