Q1 2023 Model Portfolio Review

Model Portfolio +10.8% in Q1, outperforming S&P 500 & STOXX 600

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Value Situations is NOT investment advice and the author is not an investment advisor.

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The Value Sits Model Portfolio’s performance turned positive again in Q1 after a challenging Q4-22, appreciating +10.8% for the quarter, outperforming both of my preferred benchmarks, the S&P 500 (SPX) and the European STOXX 600 (SXXP), which rose +7% and +7.8% respectively in Q1.

The Model Portfolio holds 7 names as at the end of the quarter, after the addition of one new position (an energy services special situation) which I added near the end of Q1.

I provide my latest thoughts below on this situation following recent developments, but first lets look at how the overall Portfolio was positioned as at the end of Q1.