June had no chance

Although we have reinvested all our dividends, a combination of Hercules Capital, Inc. Common Stock (HTGC), a weak strengthening of the SEK against the USD and additional dividends being lower compared to March 2024 resulted in March being better than June.

The main reason June underperformed March is that (HTGC) is not regular in its distribution plan. (HTGC's) dividend months are March, May, August and November instead of March, June, September and December.

Hopefully this comparison will be the only underperformer of the year. The next check will be more fair as (HTGC) is in the correct "timeline" for the rest of the year. This also explains why May performed so much better than February.

Given that (HTGC) currently represents 2.5% of the portfolio's total value, the lower additional dividends and a fluctuating exchange rate, June's performance compared to March is good.

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