Librarian Capital's Monthly Ranked Top Buys - January 2024

Portfolio Strategy

Our "Select 15" portfolio gained 23.3% in 2023. We outline some portfolio changes.

Introduction

This is the January edition of our "Monthly Ranked Top Buys“ series, designed to present a model portfolio based on a selection of our most-preferred stocks, which we call our “Select 15” model portfolio.

In this edition, we review our performance in 2023 and look ahead, describe recent developments in our portfolio companies, adjust our preferred stock rankings, and make several changes to our model portfolio accordingly.

Performance Update

The “Select 15” model portfolio gained 2.9% in December, finishing the year with a gain of 23.3%. This puts us slightly behind the MSCI World Index, our chosen benchmark, which gained 4.9% in December and 24.4% for the year:

Our “Select 15” model portfolio did 4.6% better than the average U.K. global equity fund in 2023, as represented by the “Investment Association Global” sector, which gained about 19% for the year (or 12.7% as reported in U.K. Pounds).

At t…