Pantheon Share Discussion Threads

[ali47fish] 19/4/2024 09:57

did people here notice a small retrace down

[ali47fish] 22/3/2024 08:35

well i wish pin stated this like you- too much detail and numbers are not always compared to last update- for me simply not clear enough- thank you for clarifying

[ali47fish] 22/3/2024 07:41

pin monthly updte always not very clear in terms of progress- noted nav up though

[1968jon] 29/2/2024 08:47

So the company appear to have been over 70% of the traded volume yesterday. Presumably the 500k delayed print was them. They must be clearing out some decent reluctant holders.

[lynton3] 27/2/2024 23:58

ali47 - the easiest and best way to access this is on Pantheon's website. You can sign up here for alerts when they issue an RNS or any news item:hxxps://www.piplc.com/investor-relations/investor-contacts/

[ali47fish] 27/2/2024 09:04

spangle i ve seen it on the day it appeared so i thought it was new- plus i always hope that soomeone might find a clearer analysis as pantheon does not compare the data to the last update in the narraative

[spangle93] 27/2/2024 08:14

Come on, ali47fish, it's not hard to find an RNS ;-) There's even one link in the box below the graph above, but this will format better

[ali47fish] 27/2/2024 07:46

lyn can you provide a link please

[lynton3] 22/2/2024 23:50

Tremendously informative Half-year Report issued by PIN today. Well worth reading.

[this_is_me] 22/2/2024 13:19

With the current discount to NAV buybacks are a great idea.

[this_is_me] 19/2/2024 12:38

On the up again.

[lynton3] 31/1/2024 23:20

Thanks, apple53. It was the luckiest trade I ever made! I was going to hold on until the 2000 region, but have taken advantage of the jump to 1800-odd to lighten my holding down to a more sensible level, and have diversified into other (mainly MSCI World Index beating) trusts PSH, JGGI, RKW, NAVF and PHLL.

[apple53] 26/1/2024 21:37

Thanks for the colour on ICP, lynton. Nice pop last couple of days. You should bottle that fat finger.

[ali47fish] 05/1/2024 07:32

monthly nav update-many dispersed details- you cant draw a conclusion up or down

[lynton3] 02/1/2024 17:27

apple53 - yes, ICP is a very interesting business. It seems to be a leader in its field, Management seem pretty strong and ambitious. I see this as largely an AUM situation, with some PE thrown in. So, on that basis it's a long term hold for me. It's similar in some respects to PHLL, which is effectively pure AUM, and which I also hold and count as part of my PE portfolio.

ICP traded one time at 2500, and I invested on the way down at 1500 & 1300. It's my largest PE holding due to a 'fat-finger' trade - but that happened when it was down at 1000, so I decided the investment gods must have been on my side, and (thankfully) held on to the position. My plan is to reduce it to a more sensible level when it gets closer to 2000'ish.

As to when to sell - who gets that right?! I don't profess any expertise in that area! PE shares are 24% of my portfolio currently, and I expect they will always be there or thereabouts. I like that these are run by investment managers who know about running a business, and know what needs to be done to increase the value of the business. These people know how to add value, which is quite different to the typical fund or IT manager. However, for me it's about backing the manager or management team, and I would sell any of these or any IT I hold if there was a change of manager that I wasn't confident about.

[ali47fish] 02/1/2024 14:34

Lynton thank you- i have the same approach except that i top up with a modest amount at a time bacause there are very few analysts of these trusts to rely on- just added a bit today

[apple53] 02/1/2024 13:48

lynton- ICP is an interesting one. Looks like big benefit from index entry? NAV not relevant (ie trades over 2x). How do you decide when to sell? I suppose I should look for the ICP chat (so feel free to ignore this here). Is it one to mention in the PE thread?

[lynton3] 02/1/2024 13:32

ali47 - To answer your question - yes, I have read the article, and posted the link because I thought others would find it interesting. It supports and adds to my previous research on PIN.

I hold PIN as part of the growth section of my portfolio. It is one of five PE shares I hold - PIN, OCI, HVPE, ICP, HGT - and PIN is my second largest holding of these. I am happy to hold all of these PE shares as a group, and I look upon them as long term, buy-and-hold investments. From my perspective, they offer a high degree of diversification and have long track records of outperforming leading indices. They have all performed fairly well over the last year - though HVPE is a bit of a laggard.

So, PIN fits nicely into my portfolio, but it may not suit other investors with different perspectives.

[apple53] 31/12/2023 15:35

we await the end Nov NAV I believe. This is likely to be significant, since a large chunk of June valuations are likely to shift to September. For HVPE, despite the large fall in the market from June to September, the NAV held up pretty well.

[ali47fish] 30/12/2023 18:43

lynton have tou read it and what do oyu think - is now a good time to add- i cant say the article gives you enough to draw a conclusion apart from it being a good pe trust

[lynton3] 30/12/2023 17:57

Here is a research article on PIN:
hxxps://www.trustintelligence.co.uk/investor/articles/fund-research-investor-pantheon-international-retail-dec-2023?utm_source=Profund&utm_medium=Email&utm_campaign=newsletter_sat

[cousinit] 21/12/2023 12:07

PE only seems to have caught a moderate part of the bid in the recent rally. You would think an IPO window is opening now for the first time in a while.

I've generally been concentrating on the funds that can buy back shares like PIN, ICGT and OCI.

Did sell some positions down when CORD got pummelled alongside DGI9. CORD seems to have decent assets at a chunky discount with a robust balance sheet (and a worthwhile yield).

[apple53] 21/12/2023 10:44

Thank you Cousin for confirming, and indeed for taking the time to help fellow investors by explaining to TFG (The amount of time I have spent explaining interactive investor bugs to them - I have had to threaten to write to the regulators given some of the major issues).

Also yes I have done the share count thing in the past, and sort of forgot this morning. However, it is obviously an estimate, probably plus or minus 5-10%, given varied prices paid.

Good to know there should be a chunk left.

I reckon based on real time NAV (ie moving valuations from end June to now, plus adjusting for weaker USD, with c. 63% of portfolio effectively USD holdings, I think the discount remains just shy of 40%.
Re. comps with the other names I should try to post in the PE thread.

[cousinit] 21/12/2023 10:15

Hi Apple, yes you get the strike price if you tendered below it but with no scale back. Had to educate HL on this with TFG.

I think they said there was £42m left of dry powder after the tender and they seem to have spent around £10m of that. My approach is just to go back to an early buyback announcement and compare that share count with the latest. Not aware of anything better.