A strong Q3 trading update from Diploma (#DPLM) indicating: ✅️ Organic growth accerelating to +15% ✅️ Operating margin +1.5% to 26.5% ✅️ Operating profit +42% ✅️ Further upgrades to FY guidance I continue to hold.

A positive trading update from Experian (#EXPN) indicating total gowth across their portfolio of circa 8%, 7% organic. I continue to hold.

🔥 #TWINPETESINVESTING Podcast 183: HOW TO SPOT THE UK'S NEXT BREAKOUT SHARES. #CMCX #KLR #GDWN #GAW #PRV #DFCH #IXI #SPI #TAKEOVERS #DIVIDENDS #STOCKS AHEAD OF EXPECTATIONS. 🎟️ investorsummit.co.uk/tickets 🎟️ youtu.be/LBdGOoyrnag?... www.conkers3.com/twin-petes-i... open.spotify.com/episode/4k8r...

Concurrent Technologies (#CNC) has published a positive H1 trading update indicating: ✅️ Revenue +10% to £23.1m ✅️ Pre-tax profit +22% to £3.3m ✅️ Order intake +110% I continue to hold.

🌟 #TWINPETESINVESTING 183 now live 🌟 Tune in to hear @conkers3.bsky.social and I discuss how to find potential future UK breakout investments including #CMCX #KLR #GDWN #IXI #SPI and more! Please remember to like, subscribe and comment! www.youtube.com/watch?v=LBdG...

Another placing and retail offer for Ensilica (#ENSI) who have raised approximately £14m from institional investors to fund a "substantial" forward pipeline of opportunities. Recently trimmed at 118p, considering adding a little more at the 91p offer price.

New essay: Why Keep an Investment Ledger? Serious investors need records. A ledger protects against selective memory and emotional revisionism. Good investing is not just forecasting. It is judgement, and judgement compounds best when it is written down. capitalledger.co.uk/investment-l...

🌟 #TWINPETESINVESTING 182 now live! 🌟 Tune in to hear @conkers3.bsky.social and I discuss how companies including #RR. #DPLM #RFX #IHG #TEP #JDG #HLMA #BNZL utilise profits for #growth Please remember to like, subscribe and comment 🙏 www.youtube.com/watch?v=H3fI...

Gamma Communications (#GAMA) looks to have lost another potential bidder as Providence now walk away. Interestingly, this was almost immediately followed by an unsolicited RNS from Epiris confirming that they are still considering their options.

Ensilica (#ENSI) has published a trading update indicating: ✅ Revenue +51% to £27.5m ✅ Cash +275% to £7.5m ✅ Lifetime supply revenue +50% to $375m I continue to hold.

1/ Railpen has announced a possible offer for one of my new holdings, IP Group (#IPO). The proposal values IP Group at a headlime value of 69.7p per share, potentially rising to 74.7p.

while the author of this piece correctly notes some UK small caps are garbage, he does a disservice to the UK retail investing community by failing to mention the significant number of good quality UK small & mid caps, and the experienced investors who buy those instead: www.ft.com/content/2c57...

A very generous gift arrived from long-time #TwinPetesInvesting supporter Terry Vaughan this week. A stack of books covering market history, governance, business and investing wisdom. Many thanks, Terry. Which one should I read first? 📚 #Investing

#TWINPETESINVESTING 181 now live! 🌟 Tune in to hear @conkers3.bsky.social and I discussing non-tech #AI investing opportunities including #$CEG #SIE #CNA #NG. #RPI #SGE #CCC and more! Please remember to like, subscribe and comment 🙏 youtu.be/RlmGnmRZho8?...

🔥 #TWINPETESINVESTING #Podcast 180: A CAPITAL MARKETS & RETAIL ACCESS MASTERCLASS w/ JOE WINKLEY, HEAD OF CAPITAL MARKETS at WINTERFLOOD. #InvestmentsTrusts #Stocks #Gilts #Bonds #$MRX #Investors #Ai & more www.conkers3.com/twin-petes-i... open.spotify.com/episode/1e3n... youtu.be/x4pRlAgpFt4?...

The old LSEG portfolio functionality is being discontinued from the 20th June but is being replaced by the rather whizzy (and free) "SparkLive" (sparklive.lseg.com). Well worth taking a look as it combines RNS updates with company events!

I get two types of email about the SpaceX IPO. Newsletters from Bloomberg, the FT, etc asking if this is the biggest bag carrier exercise in history & bemoaning changes to the listing rules and emails from brokers telling me how to register and take part.

Central Asia Metals (#CAML) is acquiring Cygnus Metals Limited in an all-share deal valuing Cygnus at ~A$232m. Cygnus shareholders receive 0.06 new CAML shares per Cygnus share.

🌟 #TWINPETESINVESTING 180 now live! 🌟 Tune in to hear @conkers3.bsky.social and I interviewing the hugely experienced Joe Winkley of Winterflood on the world of capital markets, IPOs, and retail access. Please remember to like, subscribe and comment 🙏 www.youtube.com/watch?v=VTA-...

New on Capital Ledger UK Housebuilders: When Conviction Gives Way to Hope A reflection on Persimmon, Vistry, Taylor Wimpey and Michelmersh and the point at which long-term patience begins to look uncomfortably like hope. capitalledger.co.uk/uk-housebuil...

Strong trading update from S&U (#SUS) indicating group profitability "ahead of expectations and budget". Lending rates and quality increasing, the latterbdescribed as "very good". I continue to hold.

NEW HOLDING opened in Q2, Experian (#EXPN) has delivered their FY26 update indicating performance at "upper end" of expectations: ✅️ Revenue +12% to $8.4bn ✅️ Pre-tax profit +26% to $1.9bn ✅️ Earnings per share +29% to 164.5c ✅️ Margin expansion "above expectations"

NEW HOLDING opened in Q2, Diploma (#DPLM) has published their H1 trading update indicating: ✅Organic revenue growth +15% ✅Operating margin of +3% to 24.5% ✅Earnings per share +36% Quality and diversity of portfolio and resilient business model underpin forward confidence.

#TWINPETESINVESTING episode 179 now live! Tune in to hear @conkers3.bsky.social and I discussing potential investing opportunities hiding in plain sight including #BA. #QQ. #GRG #ABDN #PCTN #LMP #SREI and more! Please remember to like, subscribe and comment 🙏 www.youtube.com/watch?v=Ha4L...

Secure Trust Bank (#STB) has published their Q1 trading update indicating net lending up 6.6% and deposit down 6.6% Y-o-Y. Business on track to commence share buybacks. I continue to hold.

Aviva (#AV.) has published their Q1 trading update indicating: ✅️ Insurance premiums +9% to £3.4bn ✅️ Net wealth inflows of £3.3bn ✅️ Wealth AuM +18% to £233bn ❌️ Solvency II ratio -9pp to 171% I continue to hold.

A strong Q1 trading update from TP ICAP (#TCAP) indicating record revenue of £689m, a 13% increase year-on-year. I continue to hold

Vistry Group (#VTY) has published a trading update indicating a challenging Q2 and highlighting "increasing macroeconomic uncertainty". Trading seems subdued with the forward order book sat dowj slightly at £4.5bn of which £2.3bn is due in the current year. I continue to hold.

🔥 #TWINPETESINVESTING #Podcast 178: WINNING INVESTMENTS, A LIVE* PORTFOLIO CLINIC. The Master Investor Show 2026 *Remix. #VLX #BP. #$MLI #VALT #GAMA #ITM #$WTI #$BRENT #INVESTING #DIVIDENDS #TECH #Ai #PALLADIUM #ENERGY #POWER #$OIL podcasts.apple.com/gb/podcast/t... www.youtube.com/watch?v=HYNu...

Delighted to share this EXPANDED edition of our live Twin Petes Investing podcast from the Master Investor Show 2026: www.youtube.com/watch?v=HYNu... A huge thank you again to everyone that came to support @conkers3.bsky.social and I on the day!

Relief as Persimmon confirms FY26 targets: Housebuilder sticks to its completions and profit guidance for this year, but admits rising build costs could impact H2 earnings if left unchecked. #PSN #$PSN sharesify.com/relief-as-pe...

Ecora Royalties (#ECOR) has released their Q1 trading update indicating: ✅Portfolio contribution +105% to $12.3m ✅ Net debt -1% to $84.4m I continue to hold.

S&U (#SUS), has announced its preliminary results for the period ended Feb 2026: ❌ Revenue -7% to £107.4m ✅ Pre-tax profit +32% to £31.8m ✅ Basic EPS +32% to 195.2p I continue to hold.

#TWINPETESINVESTING PODCAST 177 NOW LIVE Tune in to hear @conkers3.bsky.social and I interviewing the marvellous Annabel Brodie-Smith of the AIC on all things investment trusts including #SABA #EWI #SMT #ATT #HVPE #IEM #MNTN #CLIG #MKNS #TRIG #FGEN and more! www.youtube.com/watch?v=ZGEE...

A cautious Q3 trading update from Alumasc (#ALU) indicating revenue +2% and 28% growth in orders year on year. Describes market conditions as "challenging" and the board is taking a "cautious view". I continue to hold.

Concurrent Technologies (#CNC) has published their year end results indicating: ✅️ Revenue +14% to £45.9m ✅️ Pre-tax profit +25% to £6.5m ✅️ EPS +7% to 5.86p ✅️ Order intake +15% to £47m I continue to hold.

Fascinating conversation with @bsky.app's @rose.bsky.team about what they are thinking and how they feel about you, dear user www.youtube.com/watch?v=pZbd...

#TWINPETESINVESTING PODCAST 176 NOW LIVE Tune in to hear @conkers3 and I discussing ideas for the new ISA investing including #TSCO #FAN #PHP #BBOX #BAB #SPI #ASHM #WOSG and more! Please remember to like, subscribe, and comment! youtu.be/dwPdFkOZx0w?...

Fascinating insights into the private credit world with @htviolaheir.bsky.social asking questions on all our behalfs. I am not expecting our holdings in the likes of #MGCI #RECI and #POLN to be as affected as the worst-case scenarios...

Bioventix (#BVXP) interim results for the six months to December 2025 indicate: ❌️ Revenue -9% to £6.1m ❌️ Pre-tax profit -4% to £4.85m ✅️ Cash balance +4% to £5.3m Full year trading expectations remain "in-line". I continue to hold.

Apologies to anyone that tried to visit today's post and received an error message - my site suffered some temporary technical issues this afternoon but service is now restored!

"US appeals court overturns $16bn Argentina ruling in blow to Burford Capital" (FT) "A US appeals court has overturned a ruling that found Argentina liable to pay $16bn to former shareholders of the oil major YPF" Burford #$BUR shares closed down 42% today www.ft.com/content/1fcd...

NEW BLOG POST How should investors approach ISA investing season in a falling market? A look at housing, tech, Legal & General, and the areas where I’m still adding selectively. theethicalentrepreneur.com/isa-investin...

Ecora Royalties (#ECOR) has published their FY25 results indicating: ❌️ Revenue -9% to $57m ✅️ Post-tax profit +300% to $22.2m ❌️ Adjusted EPS -24% to 8.86c ✅️ Free cashflow +21% to $27.4m ✅️ Net debt flat at $85.5m I continue to hold.

International Public Private Partnerships (#INPP) has published the FY25 results indicating: ✅️ NAV per share +4.7% to 151.4p ✅️ Cash dividend cover stable at 1.1x Capital realisation programme running at or ahead of valuation on 14% of portfolio. I continue to hold.

Chesnara (#CSN) has published their 2025 FY results indicating: ✅️ Cash generation +19% to £94m ✅️ Solvency cover +54% to 257% ✅️ Adjusted operating profit +42% to £56m I continue to hold.

Journeo (#JNEO) has published their 2025 results indicating: ✅️ Revenue +11% to £55m ✅️ Gross profit +23% to £21.8m ✅️ Adjusted pre-tax profit +13% to £5.7m ❌️ Diluted earnings per share -11% to 23.83p I continue to hold.

Croda #$CRDA share price down 18%+ since 27-Feb Now ~17x 2025 EPS, 4.5% FCF Yield Back in 2022, WTI Crude price also rose above $120 Croda 2022 Consumer Care sales rose ~10%* organically, Underlying EBIT rose 4.3% ex-FX *volume -12%, price/mix +22% open.substack.com/pub/libraria...

#TWINPETESINVESTING PODCAST 175 NOW LIVE Tune in to hear @conkers3.bsky.social and I interviewing the masterful Founder and CIO of Equitile Investments, Dr George Cooper on his views of private markets and what their future means for investors! www.youtube.com/watch?v=Vq6x...

Would this be the same invasiom that he'd already "substantially concluded"?