On the whole it has been a good year for the Danfolio. Over the year I've made capital gains of 20% and earned 3% in dividends, outperforming the FTSE 100 by about 10%. Thanks to ISAs, capital gains allowances and my wife's basic-rate tax status none of the gains are taxable. In fact, because this year I am moving to Norway (where capital losses can be offset against taxable income) I have earned about 1% in tax assets.
I've been a net investor over the course of the year, adding 18% to my portfolio, so as a result I have 40% more funds under management than at that start of 2010.
The 3 largest constituents of my portfolio (together making up about 35% of its value) are:
- Berkshire Hathaway, which rose by 25%.
- BP was up 41%.
- LLPC, the Lloyds preference share, returned 39%.
None of the 3 pay a dividend.
Some highlights from the rest of my portfolio.
- Carpathian, unfortunately one of my smallest shareholdings, returned a capital gain of 60% and capped it with dividends worth another 24%, for a total return of 84%.
- British American Tobacco returned 28% capital gain and a further 5% in dividends, for a total of 33%.
- Barclays returned 30% even though I sold it in March(!). If I'd held it for the rest of the year I would only have broken even.
And just in case I was getting too smug, let's not forget:
- Rok, a complete wipeout in terms of capital, although it did pay 3% of dividends before expiring.
- Game Group, down 22% in only 8 months, slightly redeemed by 6% in dividends.
Looking forwards
As I said above, this year my family and I will move to Norway. Property is rather expensive in the area we'd like to live in, and therefore I expect to sell off the majority of my shares to fund the purchase of a house. I hope to continue investing, but (initially at least) my portfolio will be smaller and more concentrated. Longer term I expect to build it back up to its present size and beyond.
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