Portfolio

The latest month end valuation, as at 30 September 2019, is shown below.  As at the same date, the Company's estimated ongoing charges for the year to 30 April 2020 are 0.74%.

The property entries shown on the valuation are going to be the new executive offices of PAT, PATAC Limited and the PAT Foundation.  Expected entry to these premises will be in H2 2020.

Shareholders Funds
Value % of portfolio
Total Funds £1,103,753,223 100.0%

Portfolio Distribution

Portfolio

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UK Equity Exposure
Value % of portfolio
Unilever £32,631,056 3.0%
British American Tobacco £32,517,090 3.0%
Diageo £13,632,103 1.2%
Sage Group £9,953,280 0.9%
Barr (AG) £7,712,089 0.7%
Total UK Equity Exposure £96,445,618 8.7%
US Equity Exposure
Value % of portfolio
Microsoft £48,082,730 4.4%
Coca-Cola £31,957,192 2.9%
Philip Morris International £24,709,042 2.2%
Berkshire Hathaway £21,594,165 2.0%
American Express £21,172,784 1.9%
Procter & Gamble £20,890,294 1.9%
Alphabet A £16,926,489 1.5%
Colgate Palmolive £12,562,057 1.1%
Medtronic £12,461,292 1.1%
Total US Equity Exposure £210,356,045 19.1%
Swiss Equity Exposure
Value % of portfolio
Nestlé £35,041,409 3.2%
Total Swiss Equity Exposure £35,041,409 3.2%
Canadian Equity Exposure
Value % of portfolio
Imperial Oil £13,542,622 1.2%
Franco-Nevada £13,243,493 1.2%
Total Canadian Equity Exposure £26,786,115 2.4%
European Equity Exposure
Value % of portfolio
BIC £5,464,384 0.5%
Total European Equity Exposure £5,464,384 0.5%
Gold Bullion Exposure
Value % of portfolio
Gold Bullion (Physical) £96,840,817 8.8%
Total Gold Bullion Exposure £96,840,817 8.8%
Index Linked Bonds
Value % of portfolio
US TIPS 1.125% 2021 £90,005,368 8.2%
US TIPS 0.125% 2022 £61,556,898 5.6%
US TIPS 1.25% 2020 £51,835,295 4.7%
US TIPS 0.125% 2021 £49,664,073 4.5%
US TIPS 2.375% 2025 £43,186,824 3.9%
US TIPS 0.125% 2020 £41,553,183 3.8%
US TIPS 2.125% 2041 £35,217,651 3.2%
UK Index Linked 0.125% 2024 £33,427,703 3.0%
Total Index Linked Bonds £406,446,995 36.8%
Cash and Cash Equivalents
Value % of portfolio
Cash and UK T-Bills £184,406,225 16.7%
US T-Bills £39,521,954 3.6%
Total Cash and Cash Equivalents £223,928,180 20.3%
Property
Value % of portfolio
28 Walker Street, Edinburgh £1,600,000 0.1%
13 Chester Street Mews, Edinburgh £60,000 0.0%
Total Property Exposure £1,660,000 0.2%
CSVTOTAL portfolio Items