Neil Woodford Bares All

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Having made a small investment in Neil Woodford’s new equity income fund last month, I was interested to read that instead of just revealing the fund’s top ten stocks like other fund managers, he planned to disclose the fund’s entire portfolio.

Below is the (current) list in its full glory:

Name Industry % (Weight)
AstraZeneca Health Care 8.3
GlaxoSmithKline Health Care 7.11
British American Tobacco Consumer Goods 6.2
BT Telecommunications 6.02
Imperial Tobacco Consumer Goods 5.31
Roche Health Care 3.9
Imperial Innovations Financials 3.6
Reynolds American Consumer Goods 3.55
Rolls-Royce Industrials 3.47
Capita Industrials 3.36
Allied Minds Financials 2.93
BAe Systems Industrials 2.91
HSBC Financials 2.79
Sanofi Health Care 2.34
Legal & General Financials 2.09
Novartis Health Care 2.01
Centrica Utilities 1.98
AA Consumer Services 1.87
SSE Utilities 1.85
Reckitt Benckiser Consumer Goods 1.83
Philip Morris International Consumer Goods 1.81
Prothena Health Care 1.72
Next Consumer Services 1.68
Altria Consumer Goods 1.3
Smith & Nephew Health Care 1.27
BTG Health Care 1.22
Provident Financial Financials 1.13
Drax Utilities 1.11
Alkermes Health Care 1.04
Gagfah Financials 1.02
G4S Industrials 0.97
RM2 International Industrials 0.93
Redde Financials 0.9
Utilitywise Industrials 0.62
Serco Industrials 0.59
Meggitt Industrials 0.59
Lancashire Financials 0.58
Velocys Oil & Gas 0.55
e-Therapeutics Health Care 0.54
Vernalis Health Care 0.49
ReNeuron Health Care 0.48
Cobham Industrials 0.48
Burford Capital Financials 0.44
Catlin Financials 0.43
Benchmark Health Care 0.43
Amlin Financials 0.43
4D Pharma Health Care 0.43
Oxford Pharmascience Health Care 0.35
Revolymer Basic Materials 0.31
Hiscox Financials 0.31
Beazley Financials 0.29
Gigaclear Telecommunications 0.29
Paypoint Industrials 0.25
Homeserve Industrials 0.09
Retroscreen Virology Health Care 0.09
Xeros Industrials 0.07
NetScientific Health Care 0.05
IP Financials 0.04
Circassia Health Care 0.03
Stobart Industrials 0.03
Cranswick Consumer Goods 0.01
Of the 61 companies listed, I recognise only 22 of them. If I had a lot more invested in the fund, I’d probably make a point of reading up about the companies I’ve never heard of. 
Ok, scratch that –  I will make the effort to find out more about all of them.
Impact
By revealing the full list to the public, I wonder if, given Woodford’s reputation, he will inadvertently ‘influence’ other fund managers/investors into investing in some of the smaller/lesser-known companies he has included in his fund? 
Will other fund managers copy Woodford, perhaps thinking that he knows something that they don’t? 
I wonder what impact (if any) this will have, although surely the extra investment (and extra profile) would be a welcome bonus to these smaller companies?

4 thoughts on “Neil Woodford Bares All”

  1. I think it's really interesting to see exactly where your money is invested but, like you, I haven't heard of many of these. Good luck with your research (and the fund :-))

  2. Hi Weenie,

    A very interesting read, thank you for sharing it. I didn't realise he took the plunge and exposed all. I've not seen that before.
    I had to look and see how many I had in my portfolio, and it's nice to see I have a few in there.

    If you look a some of the other top income funds and their top 10 holdings, I'm sure you'll see some familiar names too.

    Go GSK! 🙂

    Thanks
    Huw

  3. Hi Cerridwen, Thanks! So far, I've only been able to check out a few websites to see what the companies actually do but it's pretty interesting!

  4. Hi Huw, I spotted some of 'your' shares in there and there are a few that I'm considering buying separately myself.

    Yes, the top 10 holdings are pretty much similar to other equity income funds, so perhaps what makes all the difference are those lesser companies I've not heard of – all the more reason to read up on them maybe haha!

    Yes, go GSK! 🙂

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