Just feel free to put down any share/shares you feel will do well in 2015 and future years.

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AM gives divi of 2.4%. Which is it folks?

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Woodford's entire portfolio revealed

Former Invesco star fund manager Neil Woodford has followed up last week’s publication of the top ten stocks in his new Woodford Equity Income fund by publishing the entire 61-stock portfolio in full, giving a rare insight into one of the most eagerly followed fund launches in years.

Almost one third of the portfolio is made up of healthcare-related stocks, following one of the key themes of his Invesco funds, with consumer goods and consumer services stocks making up 20 per cent of his portfolio including one major consumer retail play in the form of Next.

Alongside the expected helping of solid income producing stocks and global healthcare plays such as top ten holdings AstraZeneca, GlaxoSmithKline, British American Tobacco and Imperial Tobacco, Mr Woodford has also made significant bets on companies that incubate, support and invest in new technologies.

This is illustrated by the presence of Imperial Innovations in his top ten holdings as well as Allied Minds, a Boston-based company which commercialises university inventions, at number 11 in his portfolio with a holding equivalent to 2.9 per cent of the total. Allied floated in London in January.

Healthcare remains a major theme with Mr Woodford taking positions in the likes of Roche, Sanofi, Nasdaq-quoted Prothena and Alkermes as well as smaller UK biotech-type businesses such as e-therapeutics, ReNeuron, Oxford Pharmascience and Retroscreen Virology.

Mr Woodford has only one bank in his portfolio in the form of HSBC, which he is probably holding for its dividend, but he does hold a number of other financial companies including IC tips Provident Financial and Burford Capital and insurance companies such as Legal & General, Lancashire, Amlin, Catlin, Hiscox and Beazley.

New issues also feature relatively prominently in the lower reaches of Mr Woodford’s portfolio including pallet business RM2 International, which floated around the turn of the year, allergy specialist Circassia, motoring services business AA and breakthrough washing machine technology business Xeros.

Company Sector Weighting (%)
AstraZeneca Healthcare 8.3
GlaxoSmithKline Healthcare 7.1
British American Tobacco Consumer goods 6.2
BT Telecommunications 6
Imperial Tobacco Consumer goods 5.3
Roche Healthcare 3.9
Imperial Innovations Financials 3.6
Reynolds American Consumer goods 3.6
Rolls Royce Industrials 3.5
Capita Industrials 3.4
Allied Minds Financials 2.9
BAE Systems Industrials 2.9
HSBC Financials 2.8
Sanofi Healthcare 2.3
Legal & General Financials 2.1
Novartis Healthcare 2
Centrica Utilities 2
AA Consumer services 1.9
SSE Utilities 1.9
Reckitt Benckiser Consumer goods 1.8
Philip Morris Consumer goods 1.8
Prothena Healthcare 1.7
Next Consumer services 1.7
Altria Consumer goods 1.3
Smith & Nephew Healthcare 1.3
BTG Healthcare 1.2
Provident Financial Financials 1.1
Drax Utilities 1.1
Alkermes Healthcare 1
Gagfah Financials 1
G4S Industrials 1
RM2 International Industrials 0.9
Redde Financials 0.9
Utilitywise Industrials 0.6
Serco Industrials 0.6
Meggitt Industrials 0.6
Lancashire Financials 0.6
Velocys Oil & Gas 0.6
e-Therapeutics Healthcare 0.5
Vernalis Healthcare 0.5
ReNeuron Healthcare 0.5
Cobham Industrials 0.5
Burford Capital Financials 0.4
Catlin Financials 0.4
Benchmark Healthcare 0.4
Amlin Financials 0.4
4D Pharma Healthcare 0.4
Oxford Pharmascience Healthcare 0.4
Revolymer Basic materials 0.3
Hiscox Financials 0.3
Beazley Financials 0.3
Gigaclear Telecommunications 0.3
Paypoint Industrials 0.3
Homeserve Industrials 0.1
Retroscreen Virology Healthcare 0.1
Xeros Industrials 0.1
NetScientific Healthcare 0.05
IP Financials 0.04
Circassia Healthcare 0.03
Stobart Industrials 0.03
Cranswick Consumer goods 0.01
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By Graeme Davies,
14 July 2014

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