Unaudited Investment Portfolio

Downing ONE VCT plc
LEI: 213800R88MRC4Y3OIW86
Unaudited Investment Portfolio
1 April 2019

The unaudited investment portfolio and net assets as at 31 December 2018 are summarised as follows:

Top twenty venture capital investments investments (by value)		Valuation £’000	% of net assets by value
1	Doneloans Limited	5,626	5.0%
2	Tracsis plc*	4,547	4.1%
3	Downing Care Homes Holdings Limited	4,495	4.0%
4	Craneware plc*	4,385	3.9%
5	Downing Strategic Micro-Cap Investment Trust plc**	3,750	3.4%
6	Leytonstone Pub Limited	3,686	3.3%
7	Cadbury House Holdings Limited	3,075	2.8%
8	Baron House Developments LLP	2,695	2.4%
9	Pilgrim Trading Limited	2,594	2.3%
10	Jito Trading Limited	2,500	2.2%
11	Yamuna Renewables Limited	2,500	2.2%
12	Xupes Limited	2,250	2.0%
13	Anpario plc*	1,917	1.7%
14	Pearce and Saunders Limited	1,653	1.5%
15	Inland Homes plc*	1,557	1.4%
16	Pantheon Trading Limited	1,500	1.3%
17	Harrogate Street LLP	1,400	1.3%
18	Nomansland Biogas Limited	1,300	1.2%
19	Rated People Limited	1,282	1.1%
20	Quadrate Catering Limited	1,237	1.1%
		53,949	48.2%
Other investments (67 companies)		32,579	29.1%
Total investments		86,528	77.3%
Cash at bank and in hand		22,817	20.4%
Other net current assets		2,581	2.3%
Net Assets		111,926	100.0%
* Quoted on AIM
** Listed and traded on the Main Market of the London Stock Exchange
All other investments unquoted.