HorsePlayAndrew Update June 2021

HorsePlayAndrew · July 8, 2021, 10:58am

Summary

So June was a rather fun month for most of us judging by the monthly updates posted so far! Congratulations to everyone that stuck with it and is up handsomely this year so far. I had a fairly solid month but I am still buoyed by the fact that a lot of my positions are still a fair way off their all time highs so I am optimistic the portfolio performance can continue to grow this year.

My background

See details here. https://discussion.fool.com/horseplayandrew-update-nov-2020-from…

Performance to date

2021 > 21%
2020 > 209%

January > 29%
February > 23%
March > 1.7%
April > -6%
May > 11%
June >21%

Previous updates

Upstart -23.4%
Roku - 16.0%
Crowdstrike - 10.1%
Fiver - 9.4%
Pinterest - 9.3%
Datadog - 8.5%
Sea - 7.1%
fubo - 6.5%
Stem - 4.7%
Aterian - 3.5%

June 2021 Activity

SOLD

Futu So I guess similar to what Bear was talking about in terms of being a bit more active in the market, I saw an opportunity to sell out of Futu around $175 with the intention of maybe buying back again at a much lower price. Chinese names have been beaten up recently so I was lucky with the timing here, still mulling over whether to reenter but for now I used the funds to top up Upstart.

Snowflake I am frequently modelling out where market caps can go 1-2 years out, and when I compared my opportunities of Upstart, Pinterest, Roku, Fiver etc, I decided I couldn’t justify holding this position. Nothing against the company, they are outstanding but I am confident that my money will appreciate faster elsewhere.

I trimmed Pinterest because they have had a nice run in June off no real news and I am wary that a) they need to win back the market’s confidence on user growth b) I’m conscious that the board’s top posters here don’t rate PINS, so that dampens my enthusiasm somewhat. I also trimmed Upstart and rebought in the low $120’s because it was clear the shorts were going to play around here.

BUYS

No new buys this month.

I have topped up Upstart, Fiverr and Fubo.

My companies

Upstart Their good news in June has been widely reported on this board. I have topped up to a very large position because I am very confident that by 2022, this company will have a much larger market cap. It’s going to be wild along the way but I love the management team and they are executing perfectly.

Roku - Roku’s stock performed nicely in June. The momentum continues with this company and I am very happy with the size of my position here.

Crowdstrike - Looking forward to their next earnings report to see whether they can get back to some bigger beats. Their market cap size prevents me from having an outsized position here but I have been mightily impressed with how management have executed since their IPO.

Fiverr Last month I shared what a great earnings report they delivered. This has boosted my confidence and I decided to make this a punchy position now, I think they’re going to have a very strong back half of 2021. When I look at the companies discussed on these boards, Fiverr to me stands out as a company most likely to see some serious share price appreciation.

Pinterest - As discussed above, a bit of risk management to reduce my size. Some good data came out of the company reporting that people on Pinterest are 35% more likely to take a week to make purchase decisions, and spend 2x more per month than people on other platforms, basically because their users are shopping rather than browsing, and they put 85% more in their shopping baskets, compared to people on other platforms.

Datadog A storming past month for the share price, no real news for the company. It’s all about Q2 so happy holding.

Sea Nothing to say about Sea, if you want e-commerce and payments exposure in one of the fastest growing parts of the world, then this is your baby.

FuboTV I’ve topped up here because I think they are on the cusp of a very good news cycle. The betting product will be out soon but just looking at their website traffic and users, it appears they are having an incredible few months, on top of already very impressive user growth and revenue numbers. See here: https://www.similarweb.com/website/fubo.tv/#overview

Stem They entered the Russell 2000 index which certainly won’t harm them but they also announced a solid looking partnership, a MOU with respect to a new financing partnership with CleanCapital, a clean energy investment platform and one of the largest owner-operators of distributed solar assets in the United States. The share price has been on a tear as the market starts to wake up to this energy storage leader, helped recently from some bullishness from Credit Suisse.

Aterian Poor old Aterian, still getting beaten up and unloved. I still feel that this is a new and unique model, consolidating e-commerce companies, a modern day P&G, and should be worth a hell of a lot more in years to come.

Watch List

Asana I really like what I am seeing now with the customer and revenue growth. Need to dig deeper but they are a prime candidate to enter my portfolio.

Docusign The board has convinced me to look again so I’ll be working how I can open up a position this month.

Voyager Digital A coinbase and Robinhood rival that is on par with them in the download charts. Explosion of users and assets under management. Looks to be quite a compelling growth story for those comfortable with crypto. Getting closer to buying with their recent pullback.

HAAC Still watching to see what the Livongo guys bring to the table.

Blockchain I am still monitoring positions in blockchain. I’m planning on opening positions in Bitcoin, Ethereum and Chainlink at some point this year, they have corrected but not enough yet.

Thanks for reading and best wishes from a football crazed English summer, #itscominghome.

Andrew