## 

## 



## 

## 

## 

## 

## 



## 

## 

## 

## 



## 

## 





06/12/2022 



## 

## 

||Note|2022|2021|
|---|---|---|---|
|IncomeandExpenditure||||
|Incomefrom:||||
|Investments|2|39,058.95|55,224.97|
|WellsFargolitigationproceeds($198.51)||132.65|1,034.05|
|||39,191.60|56,259.02|
|Expenditureon:||||
|Raisingfunds||||
|InvestmentManagementFees||60,529.65|51,500.63|
|BankCharges||15.00||
|LEIRegistrationFee||-|65.00|
|Charitableactivities||||
|RevisedFundingcommitment|11|4,217.11|7,337.74|
|Donations|12|-|100,000.00|
|OtherExpenditure||||
|MacfarlanesFees||13,606.20|13,262.40|
|Humphrey&CoFees||3,780.00|3,840.00|
|Totalresourcesexpended||82,147.96|176,005.77|
|ExtraordinaryItems||||
|AdjustmenttoBookValueofChattels|7|(59,500.00)|.....|
|Netgains(losses)oninvestments|6|96,795.87|1,690,169.96|
|Currencyadjustment||2,489.68|(10.73)|
|Netmovementinfunds||(3,170.81)|1,570,412.48|
|Fundbalancesat5April2021||6,431,174.27|4,860,761.79|
|Fundbalancesat5April2022||£6,428,003.46|£6,431,174.27|
|Allfundsareunrestricted||||





## 




## 

## 

## 

## 

## 

## 

## 

## 

## 



## 

## 

## 

## 

## 

## 



## 

## 

## 

## 

## 

## 

## 



## 

## 



## 

## 

|2|IncomefromInvestments|2022|2021|
|---|---|---|---|
||IncomefromOverseasSecurities|19,128.15|42,468.35|
||Incomereceived-UKEquities|19,900.97|11,470.28|
||InterestonCashDeposits|2.9.83|131.52|
||ExcessReportableIncome||1,154.82|
|||£39,058.95|£55,224.97|



## 

|Theanalysisofindependentexaminer'sremunerationisasf<br>FeespayabletotheCharity'sindependentexaminerand|ollows:<br> associates:||
|---|---|---|
||2022|2021|
||£|£|
|IndependentExaminationoftheCharity'saccounts|3,780.00|3,840.00|
||3,780.00|3,840.00|



## 

## 

## 

|6|NetGains/(Losses)onInvestments|||
|---|---|---|---|
|||2022|2021|
|||£|£|
||RevaluationofInvestments|(84,937.75)|1,594,848.59|
||Gain/LossonSaleofInvestments|100,576.79|123,340.11|
||Gain/LossonExchangeRateMovements|81,156.83|(28,029.47)|
||Currencyadjustment|...•|10.73|
|||96,795.87|1,690,169.96|
|7|Chattels|||
|||2022|2021|
|||£|£|
||FairValue|||
||At5April2022(seealso1.8onpage9)|500.00|60,000.00|





## 

## 

|8|FixedAssetInvestments|||
|---|---|---|---|
|||2022|2021|
|||£|£|
||ListedInvestments|5,601,516.38|6,010,717.67|



## 

## 

||Shares|Shares|
|---|---|---|
||2022|2021|
||£|£|
|CostorValuation|||
|At5April2021|6,010,717.67|4,466,832.65|
|Additions|5,335,729.13|4,724,111.41|
|ValuationChanges|96,795.87|1,690,169.96|
|Disposals|(5,841,726.29)|(4,870,396.35)|
|At5April2022|5,601,516.38|6,010,717.67|
|CarryingAmount|||
|At5April2022|5,601,516.38|6,010,717.67|





## 

## 

|9|FinancialInstruments|2022|2021|
|---|---|---|---|
|||£|£|
||CarryingAmountofFinancialAssets|||
||Financialassetsmeasuredatfairvaluethroughincomeand|||
||expenditure|500.00|60,000.00|
||Equityinstrumentsmeasuredatmarketvalue|5,601,516.38|6,010,717.67|
||CarryingAmountofFinancialLiabilities|||
||Measuredatamortisedcost|23,749.15|89,685.66|
||FinancialLiabilities:breakdown|||
||Dividendincomeafter5.4.22|1,159.63|1,743.25|
||Humphrey&CoFees|3,780.00|3,600.00|
||Fundingcommitmentsduewithinoneyear|18,809.52|65,532.89|
|||23,749.15|70,876.14|
||Fundingcommitmentsdueafteroneyear||18,809.52|
|||23,749.15|89,685.66|
|10|Cashatbankandinhand|||
|||2022|2021|
|||£|£|
||MacfarlanesLLP|655,397.96|303,162.56|
||Rothschild(CI)Limited|194,338.27|146,979.70|
|||849,736.23|450,142.26|





## 

## 

## 

## 

|Year|B'fwd|FinancecostsRepaid|FinancecostsRepaid|C'fwd|
|---|---|---|---|---|
|2021-2022|47,619.05|2,380.95|(50,000.00)||
|RIBAScholarship|||||



## 

|12|Charitabledonationsmadetoinstitutions|2022|2021|
|---|---|---|---|
|||£|£|
||RIBA-StudentSupportFund|-|25,000.00|
||Guys-ICUSurvivorshipProject||75,000.00|
|||-|100,000.00|



## 



## 

## 

## 

||||||Overseas||
|---|---|---|---|---|---|---|
||||||Tax&||
||Holding|Date|Gross|Tax|Expenses|Net|
||||£|£|£|£|
|OverseasDividends|||||||
|AmericanExpress|||||||
|CoRegShares|2,419|10/05/2021|739.34||110.91|628.43|
||2,419|10/08/2021|750.29||112.55|637.74|
||2,249|10/11/2021|712.73||106.91|605.82|
||2,052|10/02/2022|651.27||97.69|553.58|
|CableOneInc|79|18/06/2021|141.96||21.30|120.66|
||79|17/09/2021|158.52||23.78|134.74|
||79|17/12/2021|162.94||24.45|138.49|
||73|04/03/2022|150.30||22.55|127.75|
|CFMInstitutional|||||||
|SystematicTrends|||||||
|FundLtd|74|18/06/2021|28.77|||28.77|
|Comcast|||||||
|CorporatrionClassA|4,556|28/04/2021|819.68||122.96|696.72|
||4,556|28/07/2021|816.28||122.45|693.83|
||4,556|27/10/2021|825.92||123.89|702.03|
||4,027|26/01/2022|744.78||111.72|633.06|
|Constellation|||||||
|SoftwareIncReg|||||||
|Shares|64|09/04/2021|46.18||11.55|34.63|
||64|10/07/2021|45.80||11.45|34.35|
||92|08/10/2021|68.94||17.24|51.70|
||84|11/01/2022|63.15||15.79|47.36|
|Deere&CoReg|||||||
|Shares|790|10/05/2021|505.37||75.81|429.56|
||790|09/08/2021|512.03||76.81|435.22|
||790|08/11/2021|614.43||92.17|522.26|
||704|08/02/2022|541.56||81.24|460.32|





## 

## 

|Appendix|||||||
|---|---|---|---|---|---|---|
||||||Overseas||
||||||Tax&||
||Holding|Date|Gross|Tax|Expenses|Net|
||||£|£|£|£|
|Direxion Nasdaq-|||||||
|100EqualWeighted|||||||
|IndexETFShares|1,550|29/03/2022|122.25||18.34|103.91|
|EurofinsScientific|||||||
|SEEur0.01Shares|890|05/07/2021|518.51||77.78|440.73|
|FoxCorp-A-Reg|||||||
|Shares|4,588|07/04/2021|765.46||114.83|650.63|
|Lansdowne|||||||
|DevelopedMarkets|||||||
|LongOnlyFund|||||||
|LimitedBGBP|||||||
|Shares|1,330|01/06/2021|447.51|||447.51|
|LindePlcReg|||||||
|Shares|853|17/06/2021|649.97|||649.97|
||853|17/09/2021|661.02|||661.02|
||853|17/12/2021|684.36|||684.36|
||772|25/03/2022|686.25|||686.25|
|MastercardIncome|||||||
|ClassAShares|596|07/05/2021|188.34||28.26|160.08|
||596|09/08/2021|188.83||28.33|160.50|
||596|09/11/2021|193.04||28.96|164.08|
||533|09/02/2022|192.40||28.87|163.53|
|MoodysCorporation|||||||
|CommonUS$0.01|||||||
|Shares|878|10/06/2021|385.33||57.80|327.53|
||878|10/09/2021|392.51||58.88|333.63|
||878|14/12/2021|411.52||61.73|349.79|
||701|18/03/2022|372.09||55.82|316.27|
|PentarisQAIFPlc|||||||
|PhoenixUKFundsS|||||||
|Shares|618|11/08/2021|485.44|||485.44|





## 

## 

|Appendix|||||||
|---|---|---|---|---|---|---|
||||||Overseas||
||||||Tax&||
||Holding|Date|Gross|Tax|Expenses|Net|
||||£|£|£|£|
|PentarisQIAIFPlc-|||||||
|RPhoenixUKFund|||||||
|FShares|1,223|11/08/2021|205.40|||205.40|
|PentarisQIAIFPlcR|||||||
|AllardGrowthFund|||||||
|PartingVandaFund|||||||
|FUSDShares|1,118|11/08/2021|590.70|||590.70|
|RWealth|||||||
|ManagementSICAV|||||||
|SIFSelectFunds|||||||
|Opportunities|||||||
|Income1|||||||
|DistributionShares|20,830|07/07/2021|104.15|||104.15|
|S&PGlobalInc|||||||
|RegShares|717|10/06/2021|390.85||58.63|332.22|
||717|10/09/2021|397.78||59.67|338.11|
||717|10/12/2021|417.21||62.58|354.63|
||581|10/03/2022|339.09||50.87|288.22|
|WellsFargo&Co|||||||
|RegShares|5,372|01/06/2021|378.05||56.71|321.34|
||5,372|01/09/2021|780.05||117.01|663.04|
||5,372|01/12/2021|805.48||120.83|684.65|
||4,705|01/03/2022|874.64||131.20|743.44|
||||21,728.47||2,600.32|19,128.15|
|UKDividends|||||||
|AdmiralGroupPlc|||||||
|Ord1pShares|5,735|04/06/2021|4,932.10|||4,932.10|
|||01/10/2021|9,233.35|||9,233.35|
|AshteadGroupPlc|||||||
|Ord10pShares|3,386|21/09/2021|1,185.10|||1,185.10|
||3,089|10/02/2022|287.28|||287.28|





## 

## 

|Appendix|||||||
|---|---|---|---|---|---|---|
||||||Overseas||
||||||Tax&||
||Holding|Date|Gross|Tax|Expenses|Net|
||||£|£|£|£|
|LloydsBanking|||||||
|GroupPlcOrd10|||||||
|Shares|343,802|25/05/2021|1,959.67|||1,959.67|
|||13/09/2021|2,303.47|||2,303.47|
||||19,900.97|||19,900.97|
|InterestonCash|Deposits||||||
|Macfarlanes|||29.83|||29.83|
||||£29.83|||£29.83|





## 

## 

|2)|Investmentsheld|Investmentsheld|at||Investmentsheldat|Investmentsheldat|||
|---|---|---|---|---|---|---|---|---|
|||5thApril2021|||5thApril2022||||
|||||||Costor|||
|||||||2021||Unrealised|
||Holding|Book|MarketValue|Holding|Book|Adjusted|MarketValue|gain/(loss)|
|||Value|||Value|Value|||
|36SouthFundsPlc|||||||||
|-OkuraFundPtgC|||||||||
|Shares|136.07|90,945.01|<br>91,082.66|162.0164|105,945.01|106,082.66|105,174.57|(908.09)|
|ACLAlternative|||||||||
|FundSACLtd-A-|||||||||
|AbbeyFocusFund|||||||||
|SeriesBShares|1,690.4572|138,256.18|<br>144,315.37|1,651.4052|135,938.40|141,388.21|191,672.63|50,284.42|
|AdmiralGroupPlc|||||||||
|Ord1pShares|5,735|91,455.48|<br>175,318.95|5,222|83,274.72|159,636.54|133,839.86|(25,796.68)|
|AmericanExpress|||||||||
|CoRegShares|2,419|124,796.81|<br>255,454.52|1,454|75,012.23|153,547.28|205,748.44|52,201.16|
|AshteadGroupPlc|||||||||
|Ord10pShares|4,599|98,290.33|<br>205,713.27|3,089|66,018.46|138,170.97|144,935.88|6,764.91|
|BerkshireHathaway|||||||||
|IncomeRegistered|||||||||
|BShares|1,124|101,121.86|<br>213,455.17|849|76,381.19|161,230.82|223,427.87|62,197.05|
|BNPParibasIss|||||||||
|17.06.22Warrants|||||||||
|S&P500USD|||||||||
|3500put||||78|6,353.04|6,353.04|575.09|(5,777.95)|
|BNPParibasIss|||||||||
|18.06.21S&P500|||||||||
|USD2700put|62|7,889.52|<br>178.41||||||
|BookingHoldings|||||||||
|IncCornUSD0.008|41|54,400.20|<br>71,416.66|37|49,092.86|64,449.18|64,895.44|446.26|
|CableOneInc|79|41,823.88|<br>106,662.28|73|38,647.38|98,561.35|83,575.03|(14,986.32)|
|CFMInstitutional|||||||||
|SystematicTrends|||||||||
|EquityCapped|||||||||
|FundRedPtg|||||||||
|Shares|91.5639|91,994.02|<br>90,379.98|104.1841|103,994.02|102,379.98|118,239.58|15,859.60|
|CFMInstitutional|||||||||
|SystematicTrends|||||||||
|FundLtd|74.184|80,740.10|<br>90,326.44|74.184|80,740.10|90,326.44|119,502.26|29,175.82|
|Charter|||||||||
|Communications|||||||||
|IncClass'A'|||||||||
|CommonUS$1.00|||||||||
|Stock|198|47,171.40|<br>86,681.37|184|43,836.05|80,552.38|78,193.68|(2,358.70)|
|CitigroupWarrants|||||||||
|17.12.2021S&P|||||||||
|500USD3000put|85|8,650.81|<br>2,816.54||||||
|CitigroupWarrants|||||||||
|18.03.2022ESTX50|||||||||
|EurPEUR3300|||||||||
|put|68|6,123.94|<br>6,031.36||||||





## 

|Appendix|||||||||
|---|---|---|---|---|---|---|---|---|
|2)|Investmentsheldat||||Investmentsheldat||||
|||5thApril2021|||5thApril2022||||
|||||||Costor|||
|||||||2021||Unrealised|
||Holding|Book|MarketValue|Holding|Book|Adjusted|MarketValue|gain/(loss)|
|||Value|||Value|Value|||
|Comcast|||||||||
|CorporationClassA|4,556|129,496.32|180,513.92|4,027|114,460.42|159,554.34|147,132.11|(12,422.23)|
|Constellation|||||||||
|SoftwareIncReg|||||||||
|Shares|64|55,527.07|65,799.05|84|80,292.31|89,671.08|115,327.10|25,656.02|
|Deere&CoReg|||||||||
|Shares|790|51,808.62|214,084.23|515|33,773.97|139,561.23|162,616.89|23,055.66|
|DirexionNasdaq-|||||||||
|100Equal|||||||||
|WeightedIndex|||||||||
|ETFShares||||1,550|83,725.74|83,725.74|91,092.96|7,367.22|
|EFofACL|||||||||
|AlternativeFund|||||||||
|SACLtd-Abbey|||||||||
|FocusFundSeries|||||||||
|BShares|589.90|438.09|426.51|618.55|458.62|447.04|472.10|25.06|
|EurofinsScientific|||||||||
|SEEur0.01Shares|890|53,982.20|63,153.40|1,451|98,792.03|107,352.94|112,500.63|5,147.69|
|FoxCorp-A-Reg|||||||||
|Shares|4,588|125,020.99|120,745.57||||||
|Lansdowne|||||||||
|DevelopedMarkets|||||||||
|LongOnlyFundC|||||||||
|RestrictedShares||||2,225.860952|158,000.00|208,842.10|185,881.65|(22,960.45)|
|Lansdowne|||||||||
|DevelopedMarkets|||||||||
|LongOnlyFund|||||||||
|LimitedBGBP|||||||||
|Shares|999.497166|104,000.00|154,842.10||||||
|LibertyBroadband|||||||||
|CorpSeriesCReg|||||||||
|Shares|399|25,953.11|42,980.99|318|20,684.43|34,255.53|33,647.03|(608.50)|
|LindePlcReg|||||||||
|Shares|853|74,514.01|176,014.89|772|67,438.24|159,300.70|189,594.29|30,293.59|
|LloydsBanking|||||||||
|GroupPlcOrd10<br>Shares|343,802|227,108.80|147,044.12|232,827|153,800.90|99,580.12|107,810.54|8,230.42|
|MastercardIncome|||||||||
|ClassAShares|596|96,564.36|158,715.00|533|86,357.05|141,938.08|147,801.53|5,863.45|
|MoodysCorporation|||||||||
|CommonUS$0.01|||||||||
|Shares|878|96,295.63|197,354.80|701|76,882.96|157,569.15|183,227.34|25,658.19|
|PentarisQAIFPlc-|||||||||
|BaresUSEquity|||||||||
|FundSharesF|1,278.550|102,623.86|245,114.13|1,278.550|102,623.86|245,114.13|165,878.74|(79,235.39)|





## 

## 

|2)|Investmentsheld|Investmentsheld|at||Investmentsheldat|Investmentsheldat|||
|---|---|---|---|---|---|---|---|---|
|||5thApril2021|||5thApril2022||||
|||||||Costor|||
|||||||2021||Unrealised|
||Holding|Book|MarketValue|Holding|Book|Adjusted|MarketValue|gain/(loss)|
|||Value|||Value|Value|||
|PentarisQAIFPlc-|||||||||
|PhoenixUKFunds|||||||||
|SShares|617.611|61,761.10|<br>72,187.28|509.700|50,970.00|59,574.48|63,762.34|4,187.86|
|PentarisQAIFPlc-|||||||||
|RPhoenixUKFund|||||||||
|FShares|1,222.611|120,677.46|<br>152,903.42|954.938|94,256.88|119,427.43|127,421.34|7,993.91|
|PentarisQAIFPlc|||||||||
|ArtemisVolatility|||||||||
|TradingFundF|||||||||
|USDShares|599.214|44,957.99|<br>40,923.27|599.214|44,957.99|40,923.27|33,783.42|(7,139.85)|
|PentarisQAIFPlcR|||||||||
|AllardGrowthFund|||||||||
|PartingVandaF|||||||||
|USDShares|1,117.964|79,307.45|<br>175,001.66|1,440.421|119,493.62|205,359.58|105,091.32|(100,268.26)|
|PetersThematic|||||||||
|SPCFundLtdOne|||||||||
|RiverDynamic|||||||||
|ConvexitySegPort|||||||||
|Shares|61|61,000.00|<br>61,000.00|61|61,000.00|61,000.00|57,409.89|(3,590.11)|
|PetersThematic|||||||||
|SPCFundNSeries|||||||||
|OneRiverDynamic|||||||||
|ConvesitySegPort|||||||||
|Shares||||4.4850|4,484.96|4,484.96|4,340.04|(144.92)|
|RWealthMan|||||||||
|SICAV-SIF-|||||||||
|InflationFocus|||||||||
|FundIncXDist|||||||||
|Shares|7,011.949|515,781.40|<br>505,756.37|8,235.201|615,400.04|605,522.92|642,373.33|36,850.41|
|RWealth|||||||||
|Management|||||||||
|SICAVSIFSelect|||||||||
|FundsOpportunities|||||||||
|Income1|||||||||
|DistributionShares|20,830|231,416.76|<br>378,064.50|20,222.665|224,669.40|367,041.37|329,224.99|(37,816.38)|
|RWealth|||||||||
|Management|||||||||
|SICAV-SIF|||||||||
|InvestmentGrade|||||||||
|BondIncome1|||||||||
|DistributionShares|63,718.413|637,400.42|<br>633,361.03|67,650.200|674,701.07|671,926.66|670,413.48|(1,513.18)|
|RyanairHoldings|||||||||
|PlcOrdEur0.00635|||||||||
|Shares|15,204|143,358.77|<br>218,437.51|13,815|130,261.87|198,481.60|153,700.07|(44,781.53)|
|S&PGlobalInc|||||||||
|RegShares|717|97,645.96|<br>190,341.18|581|79,124.55|154,237.42|182,645.61|28,408.19|
|SabaCapitalCarry|||||||||
|NeutralTailHedge|||||||||
|DSeries1Shares||||85|61,070.81|61,070.81|65,594.33|4,523.52|





## 

|2)|Investmentsheld|Investmentsheld|at||Investmentsheldat|Investmentsheldat|||
|---|---|---|---|---|---|---|---|---|
|||5thApril2021|||5thApril|2022|||
|||||||Costor|||
|||||||2021||Unrealised|
||Holding|Book|MarketValue|Holding|Book|Adjusted|MarketValue|gain/(loss)|
|||Value|||Value|Value|||
|Topicus.Com Inc|||||||||
|SubordVtgReg|||||||||
|Shares|576|19,850.53|<br>27,662.06|576|19,850.53|27,662.06|36,185.11|8,523.05|
|WellsFargo&Co|||||||||
|RegShares|5,372|186,954.60|<br>153,341.45|2,979|103,674.19|85,034.29|109,410.38|24,376.09|
|||£4,327,105.04|<br>£5,915,601.42||£4,226,439.90|£5,591,337.88|£5,694,118.89|£102,781.01|



|Contract||ForeignCurrency||
|---|---|---|---|
|||UnitHolding||
|28/04/21|-30/04/21FWD:EURV'S|||
|GBP||(329,000)|18,488.72|
|28/04/21|-30/04/21FWD:EURV'S|||
|GBP||(77,000)|4,548.44|
|28/04/21-30/04/21FWD:EURV'S||||
|GBP||77,000|(1,005.00)|
|21/04/21-23/04/21FWD:USDV'S||||
|GBP||(1,623,000)|70,780.11|
|21/04/21-23/04/21FWD:USDV'S||||
|GBP||103,000|(2,862.66)|
|21/04/21|-23/04/21FWD:USDV'S|||
|GBP||(297,000)|4,156.01|
|21/04/21-23/04/21FWD:USDV'S||||
|GBP||(170,000)|681.78|
|21/04/21-23/04/21FWD:USDV'S||||
|GBP||(277,000)|328.85|
||||95,116.25|
||MarketValue||£6,010,717.67|



|Contract|ForeignCurrency|||
|---|---|---|---|
||UnitHolding|||
|27/04/21-29/04/22FWDEUR||||
|V'SGBP|(339,000)|4,545.04|4,545.04|
|20/04/22-22/04/22FWDUSD||||
|V'SGBP|(2,739,000)|(102,370.52)|(102,370.52)|
|20/04/22-22/04/22FWDUSD||||
|V'SGBP|446,000|4,566.84|4,566.84|
|20/04/22-22/04/22FWDUSD||||
|V'SGBP|190,000|2,506.66|2,506.66|
|20/04/22-22/04/22FWDUSD||||
|V'SGBP|(203,000)|(1,850.53)|(1,850.53)|
|||(92,602.51)|(92,602.51)|
|MarketValue||£5,601,516.38|£10,178.50|





## 

## 

|Acquisitions|Holding|Date|Cost|Event|
|---|---|---|---|---|
|36SouthFunds|||||
|Plc-OkuraFund|||||
|PtgCShares|25.946|04/01/22|15,000.00|Purchase|
|ACLAlternative|||||
|FundSAC|||||
|Limited-A-Abbey|||||
|FocusFund|||||
|SeriesBShares|145.382|03/08/21|12,882.94|Purchase|
||0.227|01/10/21||BonusIssue|
|BNPParabaslss|||||
|17.06.22|||||
|WarrantsS&P|||||
|500USD3500|||||
|put|78|07/07/21|6,353.04|Purchase|
|CFMInstitutional|||||
|Systematic|||||
|TrendsEquity|||||
|CappedFund|||||
|RedPtgShares|12.62|09/08/21|12,000.00|Purchase|
|Constellation|||||
|SoftwareIncReg|||||
|Shares|2|30/07/21|2,282.95|Purchase|
||6|03/08/21|6,856.82|Purchase|
||4|04/08/21|4,619.86|Purchase|
||6|05/08/21|6,983.78|Purchase|
||4|06/08/21|4,651.34|Purchase|
||4|09/08/21|4,679.06|Purchase|
||1|10/08/21|1,171.58|Purchase|
||1|11/08/21|1,166.74|Purchase|
|DirexionNasdaq-|||||
|100Equal|||||
|WeightedIndex|||||
|ETFShares|1,550|22/02/22|83,725.74|Purchase|
|EFofACL|||||
|AlternativeFund|||||
|SACLtd-Abbey|||||
|FocusFund|||||
|SeriesBShares|28.65|03/08/21|20.53|Purchase|





## 

## 

|Acquisitions|Holding|Date|Cost|Event|
|---|---|---|---|---|
|EurofinsScientific|||||
|SE|||||
|Eur0.01Shares|51|30/07/21|4,395.59|Purchase|
||87|02/08/21|7,509.37|Purchase|
||59|03/08/21|5,139.43|Purchase|
||37|04/08/21|3,224.41|Purchase|
||183|16/02/22|13,602.83|Purchase|
||221|17/02/22|16,024.79|Purchase|
|Lansdowne|||||
|Developed|||||
|MarketsLong|||||
|OnlyFundC|||||
|RestrictedShares|2,225.861|18/06/21|158,000.00|From|
|||||Reorganisation|
|Lansdowne|||||
|Developed|||||
|MarketsLong|||||
|OnlyFund|||||
|LimitedBGBP|||||
|Shares|330.778|21/05/21|54,000.00|Purchase|
|PentarisQAIFPlc|||||
|RAllardGrowth|||||
|FundParting|||||
|VandaFUSD|||||
|Shares|212.233|24/08/21|21,803.93|Purchase|
||275.095|08/09/21|32,059.51|Purchase|
|PetersThematic|||||
|SPCFundLtd|||||
|OneRiver|||||
|Dynamic|||||
|ConvexitySeg|||||
|PortShares|4.485|01/08/21|4,484.96|Purchase|
|RWealthMan|||||
|SICAV-SIF-|||||
|InflationFocus|||||
|FundIncXDist|||||
|Shares|478.536|06/10/21|36,840.86|Purchase|
||1,341.166|16/03/22|106,781.52|Purchase|
|RWealth|||||
|Management|||||
|SICAV-SIF|||||
|InvestmentGrade|||||
|BondIncome1|||||
|Distribution|||||
|Shares|21,741.84|01/04/22|215,461.63|Purchase|





## 

|Acquisitions|Holding|Date|Cost|||Event|
|---|---|---|---|---|---|---|
|SabaCapital|||||||
|CarryNeutralTail|||||||
|HedgeAShares|85,000|03/05/21|61,070.81|||Purchase|
|SabaCapital|||||||
|CarryNeutralTail|||||||
|HedgeDSeries1|||||||
|Shares|85|31/08/21|61,070.81|||From|
|||||||Redesignation|
||||£963,864.83||||
|Acquisitions|||||||
|ForwardCurrency|Transactions||||||
||||MarketValue||||
||Holding|Date|atAcquisition|||Event|
|FWD:USDV'S|||||||
|GBP|103,000|21/04/21|77,334.29|||Purchase|
||2,264,000|21/04/21|1,619,812.08|||Purchase|
||121,000|27/10/21|85,581.80|||Purchase|
||2,732,000|27/10/21|1,985,922.63|||Purchase|
|FWD:EURV'S|||||||
|GBP|329,000|28/04/21|286,407.99|||Purchase|
||77,000|28/04/21|66,574.51|||Purchase|
||296,000|03/11/21|250,231.00|||Purchase|
||||£4,371,864.30||||
|Total|||£5,335,729.13||||
||Holding|Date|MarketValue/|Proceeds|Profit/|Event|
||||Conversion||(Loss)||
||||Cost||||
|Disposals|||||||
|ACLAlternative|||||||
|FundSACLtd-A-|||||||
|AbbeyFocus|||||||
|FundSeriesB|||||||
|Shares|184.661|20/12/21|15,810.10|17,190.45|1,380.35|Sale|





## 

## 

||Holding|Date|MarketValue/|Proceeds|Profit/|Event|
|---|---|---|---|---|---|---|
||||Conversion||(Loss)||
||||Cost||||
|Disposals|||||||
|AdmiralGroup|||||||
|PlcOrd1p|||||||
|Shares|513|15/12/21|15,682.41|15,871.59|189.18|Sale|
|American|||||||
|ExpressCoReg|||||||
|Shares|95|27/07/21|10,032.32|11,878.90|1,846.58|Sale|
||75|28/07/21|7,920.25|9,279.05|1,358.80|Sale|
||197|15/12/21|20,803.86|23,598.78|2,794.92|Sale|
||169|11/01/22|17,846.97|21,636.67|3,789.70|Sale|
||131|12/01/22|13,834.04|16,683.18|2,849.14|Sale|
||298|16/02/22|31,469.80|43,725.36|12,255.56|Sale|
|AshteadGroup|||||||
|PlcOrd10p|||||||
|Shares|281|30/07/21|12,569.13|15,123.12|2,553.99|Sale|
||78|02/08/21|3,488.94|4,198.80|709.86|Sale|
||191|03/08/21|8,543.43|10,146.03|1,602.60|Sale|
||242|04/08/21|10,824.66|12,874.78|2,050.12|Sale|
||228|05/08/21|10,198.44|12,147.35|1,948.91|Sale|
||82|06/08/21|3,667.86|4,439.45|771.59|Sale|
||111|09/08/21|4,965.03|6,102.60|1,137.57|Sale|
||297|15/12/21|13,284.81|17,611.75|4,326.94|Sale|
|Berkshire|||||||
|HathawayIncome|||||||
|RegisteredB|||||||
|Shares|100|15/12/21|18,990.67|22,322.20|3,331.53|Sale|
||175|16/02/22|33,233.68|40,790.28|7,556.60|Sale|
|BNPParibasIss|||||||
|18.06.21S&P|||||||
|500USD2700|||||||
|put|62|25/06/21|178.41|0.00|(178.41)|Warrants|
|||||||Expired|
|BookingHoldings|||||||
|IncCorn|||||||
|USD0.008|4|15/12/21|6,967.48|6,381.99|(585.49)|Sale|
|CableOneInc|6|15/12/21|8,100.93|7,590.91|(510.02)|Sale|
|Charter|||||||
|Communications|||||||
|IncClass'A'|||||||
|Common|||||||
|US$1.00Stock|14|15/12/21|6,128.99|6,522.42|393.43|Sale|





## 

## 

||Holding|Date|MarketValue/|Proceeds|Profit/|Event|
|---|---|---|---|---|---|---|
||||Conversion||(Loss)||
||||Cost||||
|Disposals|||||||
|Citigroup|||||||
|Warrants|||||||
|17.12.2021S&P|||||||
|500USD3000|||||||
|put|85|17/12/21|2,816.54|0.00|(2,816.54)|WarrantsExpired|
|Citigroup|||||||
|Warrants|||||||
|18.03.2022|||||||
|ESTX50EurP|||||||
|EUR3300put|68|18/03/22|6,031.36|0.00|(6,031.36)|WarrantsExpired|
|Comcast|||||||
|CorporationClassA|529|15/12/21|20,959.58|19,168.65|(1,790.93)|Sale|
|Constellation|||||||
|SoftwareIncReg|||||||
|Shares|8|15/12/21|8,540.10|10,417.51|1,877.41|Sale|
|Deere&CoReg|||||||
|Shares|86|15/12/21|23,305.37|22,372.77|(932.60)|Sale|
||95|16/02/22|25,744.31|27,376.50|1,632.19|Sale|
||58|23/03/22|15,717.58|19,001.62|3,284.04|Sale|
||36|24/03/22|9,755.74|11,708.18|1,952.44|Sale|
|EurofinsScientific|||||||
|SE|||||||
|Eur0.10Shares|77|15/12/21|5,696.88|7,111.93|1,415.05|Sale|
|FoxCorp-A-Reg|||||||
|Shares|4,440|14/05/21|116,850.55|115,449.22|(1,401.33)|Sale|
||148|14/05/21|3,895.02|3,955.19|60.17|Sale|
|Lansdowne|||||||
|Developed|||||||
|MarketsLong|||||||
|OnlyFund|||||||
|LimitedBGBP|||||||
|Shares|1,330.275|18/06/21|158,000.00|158,000.00||Reorganisation|
|Liberty|||||||
|BroadbandCorp|||||||
|SeriesCReg|||||||
|Shares|81|15/12/21|8,725.46|9,160.93|435.47|Sale|





## 

||Holding|Date|MarketValue/|Proceeds|Profit!|Event|
|---|---|---|---|---|---|---|
||||Conversion||(Loss)||
||||Cost||||
|Disposals|||||||
|LindePlcReg|||||||
|Shares|81|15/12/21|16,714.19|20,572.77|3,858.58|Sale|
|LloydsBanking|||||||
|GroupPlcOrd10|||||||
|Shares|42,781|15/12/21|18,297.43|19,073.61|776.18|Sale|
||25,794|24/03/22|11,032.09|12,777.11|1,745.02|Sale|
||7,267|25/03/22|3,108.10|3,563.41|455.31|Sale|
||9,821|28/03/22|4,200.44|4,836.39|635.95|Sale|
||23,846|29/03/22|10,198.93|11,821.70|1,622.77|Sale|
||1,466|30/03/22|627.01|718.13|91.12|Sale|
|Mastercard|||||||
|IncomeClassA|||||||
|Shares|63|15/12/21|16,776.92|16,025.23|(751.69)|Sale|
|Moodys|||||||
|Corporation|||||||
|Common|||||||
|US$0.01Shares|95|15/12/21|21,353.88|28,224.28|6,870.40|Sale|
||61|11/01/22|13,711.44|16,274.14|2,562.70|Sale|
||21|12/01/22|4,720.33|5,674.47|954.14|Sale|
|PentarisQAIFPlc|||||||
|-PhoenixUK|||||||
|FundsSShares|107.911|08/02/22|12,612.80|14,759.66|2,146.86|Sale|
|PentarisQAIFPlc|||||||
|-RPhoenixUK|||||||
|FundFShares|267.673|09/02/22|33,475.99|39,093.02|5,617.03|Sale|
|PentarisQAIFPlc|||||||
|RAllardGrowth|||||||
|FundParting|||||||
|VandaFUSD|||||||
|Shares|164.871|01/04/22|23,505.52|12,180.43|(11,325.09)|Sale|
|RWealthMan|||||||
|SICAV-SIF-|||||||
|InflationFocus|||||||
|FundIncXDist|||||||
|Shares|596.446|16/12/21|43,855.83|47,231.20|3,375.37|Sale|





## 

## 

||Holding|Date|MarketValue/|Proceeds|Profit/|Event|
|---|---|---|---|---|---|---|
||||Conversion||(Loss)||
||||Cost||||
|Disposals|||||||
|RWealth|||||||
|Management|||||||
|SICAVSIFSelect|||||||
|Funds|||||||
|Opportunities|||||||
|Income1|||||||
|Distribution|||||||
|Shares|607.335|31/12/21|11,023.13|10,956.32|(66.81)|Sale|
|RWealth|||||||
|Management|||||||
|SICAV-SIF|||||||
|InvestmentGrade|||||||
|BondIncome1|||||||
|Distribution|||||||
|Shares|6,331.31|16/12/21|62,884.87|62,996.50|111.63|Sale|
||11,478.746|16/03/22|114,011.13|113,639.59|(371.54)|Sale|
|||||||Sale|
|RyanairHoldings|||||||
|PlcOrd|||||||
|Eur0.00635|||||||
|Shares|1,240|15/12/21|17,815.21|14,779.39|(3,035.82)|Sale|
||149|16/02/22|2,140.70|2,193.92|53.22|Sale|
|S&PGlobalInc|||||||
|RegShares|77|15/12/21|20,441.10|27,599.64|7,158.54|Sale|
||59|11/01/22|15,662.66|18,907.05|3,244.39|Sale|
|SabaCapital|||||||
|CarryNeutralTail|||||||
|HedgeAShares|85,000|03/05/21|61,070.81|61,070.81||Redesignation|
|WellsFargo&Co|||||||
|RegShares|667|15/12/21|19,039.23|24,333.26|5,294.03|Sale|
||608|16/02/22|17,355.10|26,176.09|8,820.99|Sale|
||576|23/03/22|16,441.67|22,368.61|5,926.94|Sale|
||542|24/03/22|15,471.16|21,020.27|5,549.11|Sale|
||||£1,288,128.37|£1,388,705.16|£100,576.79||





## 

## 

## 

||Foreign||MarketValueat||||
|---|---|---|---|---|---|---|
||Currency|Dateof|Purchaseof|MarketValueat|RealisedProfit/||
|Contract|UnitHolding|Settlement|Forward|SaleofForward|Loss|Event|
|FWD:USDV'S|||||||
|GBP|1,623,000|<br>21/04/21|<br>1,163,696.06|<br>1,244,250.23|80,554.17|Settlement|
||297,000|<br>21/04/21|<br>212,949.92|<br>218,894.66|5,944.74|Settlement|
||170,000|<br>21/04/21|<br>121,890.53|<br>123,596.18|1,705.65|Settlement|
||277,000|<br>21/04/21|<br>198,609.86|<br>200,607.04|1,997.18|Settlement|
||2,625,000|<br>27/10/21|<br>1,905,958.33|<br>1,873,585.44|(32,372.89)|Settlement|
||228,000|<br>27/10/21|<br>165,546.10|<br>165,331.57|(214.53)|Settlement|
|FWD:EURV'S|||||||
|GBP|329,000|<br>28/04/21|<br>286,407.99|<br>298,644.49|12,236.50|Settlement|
||77,000|<br>28/04/21|<br>66,574.51|<br>70,116.74|3,542,23|Settlement|
||296,000|<br>03/11/21|<br>250,231.00|<br>257,994.78|7,763.78|Settlement|
||||4,371,864.30|<br>4,453,021.13|81,156.83||
|Totals|||£5,659,992.67|£5,841,726.29|£181,733.62||