September was a great month for us, delivering a MTD gain of 4.59%, bringing our YTD performance to 39.98%. We're also celebrating a new all-time high, now up 107.4% since inception in January 2023. Overall, we're in a solid position, with no immediate changes to our portfolio and maintaining our cash position for the time being. However, I do anticipate making some adjustments next month as market conditions evolve.

Adding ZIM last month turned out to be a strong move, with the stock climbing 40.45%. The strike situation at the East Coast harbors did introduce some uncertainty and volatility, but for a fair comparison, I decided to hold on to the position. In my view, this doesn’t impact ZIM’s attractiveness, and I expect them to post strong Q3 earnings.

Sentiment around tankers seems to be fading a bit, but we’re entering a historically stronger part of the year for the sector. I’ll be watching closely to see how things play out before making any moves.

Positions for October 2024

  • BIL (3x)
  • DAC
  • GLNG
  • GNK
  • HAFNI
  • INSW
  • NVGS
  • OET
  • TRMD
  • ZIM
View the original report images