Portfolio Update

Octopus AIM VCT plc

Portfolio Update

The investment portfolio of Octopus AIM VCT plc (the "Company") as at 21 September 2022 is as follows (the valuations being the unaudited valuations, at bid price, as at 31 August 2022):

Investee Company	Sector	Book cost (£000)	Movement in valuation (£000)	Fair Value (£000)
Ergomed plc	Pharmaceuticals & Biotechnology	1,175.6	6,973.2	8,148.9
Popsa Holdings Limited*	Software & Computer Services	1,589.9	3,787.5	5,377.5
Learning Technologies Group plc	Software & Computer Services	1,051.4	4,226.4	5,277.8
Breedon Group plc	Construction & Materials	859.3	3,405.2	4,264.5
Judges Scientific plc	Electronic & Electrical Equipment	313.6	3,516.8	3,830.4
GB Group plc	Software & Computer Services	505.1	3,177.5	3,682.5
Hasgrove plc*	Media	87.8	3,451.3	3,539.1
SDI Group plc	Technology Hardware	178.5	3,280.7	3,459.3
Brooks Macdonald Group plc	Investment Banking & Brokerage Services	746.2	2,613.4	3,359.6
IDOX plc	Software & Computer Services	353.4	2,705.8	3,059.2
Libertine Holdings plc	Industrial Engineering	3,000.0	(150.0)	2,850.0
Equipmake Holdings plc	Electronic & Electrical Equipment	1,800.0	847.1	2,647.1
Mattioli Woods plc	Investment Banking & Brokerage Services	528.7	2,084.7	2,613.4
Netcall plc	Software & Computer Services	307.9	2,119.9	2,427.7
Intelligent Ultrasound Group plc	Medical Equipment & Services	1,829.9	596.3	2,426.2
EKF Diagnostics Holdings plc	Medical Equipment & Services	931.2	1,323.0	2,254.2
MaxCyte Inc	Pharmaceuticals & Biotechnology	1,034.7	1,163.3	2,198.1
Sosandar plc	Retailers	1,852.7	320.4	2,173.1
Craneware plc	Health Care Providers	183.4	1,969.6	2,153.0
Next Fifteen Communications Group plc	Media	453.0	1,415.3	1,868.3
Quixant plc	Technology Hardware & Equipment	586.8	1,260.2	1,847.0
Clean Power Hydrogen plc	Alternative Energy	1,800.0	(120.0)	1,680.0
Ilika plc	Electronic & Electrical Equipment	1,058.4	587.6	1,646.0
Animalcare Group plc	Pharmaceuticals & Biotechnology	306.2	1,289.7	1,595.9
TPXimpact Holdings plc	Software & Computer Services	979.4	608.8	1,588.1
Access Intelligence plc	Software & Computer Services	677.9	881.3	1,559.2
PCI-Pal plc	Software & Computer Services	1,097.8	452.1	1,549.9
ENGAGE XR Holdings plc	Software & Computer Services	1,879.0	(414.6)	1,464.5
LungLife AI Inc	Pharmaceuticals & Biotech	2,079.0	(720.6)	1,358.4
Vertu Motors plc	Retailers	1,265.5	30.8	1,296.3
Ixico plc	Pharmaceuticals & Biotechnology	1,045.5	224.0	1,269.6
Spectral MD Holdings Ltd	Health Care Providers Care Providers	2,115.3	(860.5)	1,254.8
Beeks Financial Cloud Group plc	Software & Computer Services	450.4	765.7	1,216.1
Diaceutics plc	Health Care Providers	929.8	183.5	1,113.3
Feedback plc	Medical Equipment & Services	1,500.0	(392.1)	1,107.9
Cambridge Cognition Holdings plc	Health Care Providers	600.6	428.8	1,029.4
RWS Holdings plc	Industrial Support Services	143.3	695.7	839.0
Restore plc	Industrial Support Services	255.8	578.1	834.0
Creo Medical Group plc	Medical Equipment & Services	1,471.1	(670.8)	800.3
Oberon Investments Group plc	Investment Banking & Brokerage Services	864.0	(72.8)	791.2
Velocys plc	Alternative Energy	995.8	(205.4)	790.4
Gamma Communications plc	Telecommunications Service Providers	274.4	499.1	773.6
Trackwise Designs plc	Technology Hardware & Equipment	1,934.1	(1,219.1)	715.0
Polarean Imaging plc	Pharmaceuticals & Biotech	686.6	(11.4)	675.2
Glantus Holdings plc	Industrial Support Services	1,800.0	(1,147.1)	652.9
Gooch & Housego plc	Technology Hardware & Equipment	421.7	203.4	625.1
Fusion Antibodies plc	Health Care Providers	745.3	(121.8)	623.5
Gelion plc	Electronic & Electrical Equipment	1,140.0	(526.8)	613.2
Osirium Technologies plc Loan Notes	Software & Computer Services	600.0	0.0	600.0
AdEPT Technology Group plc	Software & Computer Services	600.6	(21.7)	578.9
Gear4music Holdings plc	General Retailers	528.8	3.8	532.6
Advanced Medical Solutions Group plc	Medical Equipment & Services	284.3	244.0	528.3
Verici Dx plc	Pharmaceuticals & Biotechnology	651.2	(108.0)	5432
Crimson Tide plc	Software & Computer Services	567.0	(94.5)	472.5
GENinCode plc	Medical Equipment & Services	1,200.0	(736.4)	463.6
ReNeuron Group plc	Pharmaceuticals & Biotechnology	1,365.5	(914.6)	450.9
Evgen Pharma plc	Pharmaceuticals & Biotechnology	1,050.0	(630.0)	420.0
The British Honey Company plc	General Retailers	1,320.6	(905.4)	415.2
KRM 22 plc	Software & Computer Services	680.6	(306.3)	374.3
DP Poland plc	Travel & Leisure	1,016.4	(647.1)	369.3
MyCelx Technologies Corporation	Oil, Gas & Coal	1,470.2	(1,103.8)	366.5
DXS International plc	Software & Computer Services	300.0	18.8	318.8
W&isco plc	Software & Computer Services	145.2	143.7	288.9
Cordel Group plc	Software & Computer Services	443.3	(177.3)	266.0
Eluceda Limited*	Pharmaceuticals & Biotech	299.9	(39.0)	260.9
Mears Group plc	Industrial Support Services	138.7	117.1	255.7
The Food Marketplace Ltd*	Retailers	300.0	(60.0)	240.0
Renalytix plc	Health Care Providers	288.4	(84.8)	203.6
Strip Tinning Holdings plc	Electronic & Electrical Equipment	505.9	(328.1)	177.7
Rosslyn Data Technologies plc	Software & Computer Services	429.0	(257.4)	171.6
Falanx Group Limited	Industrial Support Services	900.0	(735.0)	165.0
Velocity Composites plc	Aerospace & Defense	799.2	(639.4)	159.8
Staffline Group plc	Industrial Support Services	334.4	(184.1)	150.3
Enteq Upstream plc	Oil Services	1,031.7	(887.3)	144.4
In The Style Group plc	General Retailers	1,000.0	(865.0)	135.0
TP Group plc	Aerospace & Defense	648.0	(565.5)	82.5
XP Factory plc	Travel & Leisure	988.2	(907.7)	80.5
Tasty plc	Travel & Leisure	621.7	(547.3)	74.4
Genedrive Plc	Pharmaceuticals & Biotechnology	361.1	(293.4)	67.7
Osirium Technologies plc	Software & Computer Services	1,350.0	(1,298.9)	51.1
1Spatial plc	Software & Computer Services	300.0	(264.2)	35.8
Rated People Ltd*	Software & Computer Services	353.7	(318.9)	34.8
Abingdon Health plc	Medical Equipment & Services	520.7	(488.2)	32.5
LoopUp Group plc	Software & Computer Services	295.6	(276.4)	19.2
Microsaic Systems plc	Electronic & Electrical Equipment	1,384.2	(1,368.6)	15.5
Haydale Graphene Industries plc	Industrial Materials	598.1	(590.2)	7.8
Location Sciences Group Plc	Software & Computer Services	763.1	(762.6)	0.5
Airnow plc*	Software & Computer Services	1,257.1	(1,257.1)	-

Since 31 August 2022 Octopus AIM VCT plc has made no investments and no disposals.

Unless otherwise stated, all the investments set out above:

- are quoted on public markets;

- represent equity investments except in the case of Osirium which include investment through loan stock; and

- are in portfolio companies incorporated in the UK with the exception of:

Breedon Group – Jersey

Maxcyte Inc – USA

VR Education Holdings plc – Ireland

Falanx Group Limited – British Virgin Islands

Mycelx – USA

Glantus Holdings plc - Republic of Ireland

Spectral MD Holdings Ltd - USA

* Denotes unlisted company

Current Asset Investments (unaudited)

Investee Company	Sector	Book cost (£000)	Movement in valuation (£000)	Fair Value (£000)
Octopus UK Micro Cap Growth Fund	N/A	5,622.0	(1,481.0)	7,467.0
Octopus UK Multi Cap Income Fund	N/A	5,889.0	(597.0)	6,463.0
Octopus UK Future Generations Fund	N/A	690.0	(62.0)	578.0
Money Market Funds	N/A	1,331.0	0.0	1,331.0