Portfolio

I have hit four portfolio milestones and am working towards the fifth.  There is a large gap between the first and second because I was using most of my free cash flow to repay my housing loan. I resumed investing around 2016, which roughly coincided with the creation of this blog.

As for my portfolio, I have too many counters. However, most of them are small holdings. I do have some that I classify as "large" and "medium" though. My New Year's resolution in 2022 was to focus on ETFs and this has resulted in most of my top 10 holdings being ETFs. However, the temptation to continue to accumulate my favourite stocks is still very great, I just have to limit the number.

I try to "diversify" brokers/custodians and not have one broker hold everything. 

• Singapore shares are held in CDP and SCB.
• UK and US listed shares are held in IBKR and SCB
• HKSE listed shares & CPF unit trusts are held in FSMOne

___________

2023 December Update

Thanks to a rally in share prices, Aviva and Comfort Delgro have gone back to the large category.

Capitaland Ascott Residence Trust went to large category because I was accumulating shares after their disastrous undersubscribed rights issue.

In the medium category, I accumulated more Frasers Logistics Trust because I think its a worthwhile long term holding and also I want to balance out my holdings in Hospitality Trusts. 3010.HK ETF went up to Medium as a result of regular FSMOne RSP.

________________

2023 June Update

Did my 6-monthly portfolio review. Aviva and Lloyds traded places.

Edit: I forgot all about Sembcorp which had a fantastic run. Despite the recent pullback, it has jumped into the large category.

I have hit the SSB $200k limit in the last 6 months in order to lock-in interest rates of above 3% as rates were forecast (and did in fact fall) below 3%. Also took the plunge and used CPF-OA for T-bills. 

My ASX200 ETF, IOZ, is a new entry into the list. In line with my resolution not to stock pick, I don't think there will be many more new entries in the future. Maybe  Asia ex-Jpn ETF 3010.HK, and physical gold (which briefly qualified as a medium holding due to a gold price rally but things have since settled down).

________________

2022 December Update

Given the crash in the HK/China market, it is no surprise that the 2 downgrades are China related, with the HKSE tracker fund falling from large into the medium category while First State Bridge, which only just qualified as medium was removed (even a small drop would remove it from the list).

In terms of Aviva, I am happy to report that since my last update 6 months ago, Aviva managed to drop below £4 which gave me an opportunity to accumulate more. The price has since gone above £4 so Aviva has returned to the Large category.

Banco Santander (I buy the ADR) has surprisingly staged a good recovery and even went above $3 briefly.  It is now hovering at $2.97. This means that I am finally above water for this counter and it enters the medium category.

Astrea VI is a PE Bond that I have written about and its YTM of 4.5%-5% (I accumulated it at various prices and hence the various yields) makes it more attractive than Astrea VII. Some might even say that Astrea VII is mispriced - why should the YTM of Astrea VI (which is 'safer' than VII not least because its reserves account is substantially filled) be lower than Astrea VII? The only thing I can think of is that Astrea's published coupon is 3% and retail investors don't know how to calculate actual yield? 

Finally, I decided to add SGS T-bills and SSB into the portfolio list. 

__________________

2022 June Update

I review my portfolio twice a year. I am on track with my New Year's resolution to buy more world ETF as VWRD/IWDA is a brand new entry in the Large category.

Sembcorp is a new entry or should I say 're-entry' thanks to the recent rally together with my preferred S&P500 ETF, LSPU.

I am hopeful that the market will end the year higher than current levels, in which case, this list should see a few more new entries. 

Aviva fell out of the large category due to the return of capital which I overlooked otherwise I would have accumulated more when it was under £4. 

__________________

2021 November Update

Just realised that I didn't do an update to my portfolio holdings in June 2021. I've just updated it (will call it the Nov 2021 edition) and my next update will be in June 2022.

Quite a few new entries thanks to the buoyant market conditions. While my focus is on ETFs, two individual stocks entered the list. Aviva had a good rally and made it into the 'large' list, while the oil price rally helped Shell enter the 'medium' category. First State Bridge is a super reliable performer and it was only a matter of time that it pushed itself into the list. 

______________
2020 December Update

Thanks to the Covid-19 "Vaccine" rally and my averaging down strategy, there are 6 new entrants into the "Medium" holdings category. There are also downgrades due to the fall in value of my Comfort Delgro and CDL HT holdings.

______________



_______________________

Jan 2020 Edition (Items in Red are new entrants to the 2020 list)

Big Holdings
STI ETF
OCBC
CDL Hospitality Trust
Comfort Delgro (on watchlist - $2k short of Big status)
First State Regional China (unit trust) [upgraded to Big due to 25% gain in 2019]
Vanguard Asia Pacific ETF + iShares Core MSCI Pacific ex-Japan ETF (counted together as they are nearly identical ETFs except that Vanguard pays dividends and includes Korea)

Medium-sized Holdings

Frasers Centrepoint Trust
Ascott Residence Trust
UOB
Vanguard UK ETF
Singtel 
Euro Stoxx 50 ETF  (iShares and DB)

Singapore Airlines 3.03% bonds

Small-sized Holdings
I have perhaps too many counters, but these are the counters that are might graduate to the Medium-sized Holdings category. 

Investment Grade Corporate Bond ETFs (LQDE+VDCP)

Sembcorp (if it ever recovers... I'm still adding small amounts regularly)
GlaxoSmithKline 
Aviva
Lloyds

Emerging Markets ETF (VDEM+EIMI) 

What REITs do I hold?

As REITs are not really well represented in the STI ETF (CCT was a recent addition), I hold several REITs to provide income. Some of the REITs are already in the list above, but here is the list of the REITs I hold:

CDL Hospitality Trust

Frasers Centrepoint Trust

Ascott Residence Trust

Mapletree Logistics Trust

Far East Hospitality Trust

Ascendas Hospitality Trust (merged with ART)

OUE Hospitality Trust (merged with OUECT)

OUE Commercial Trust

CapitaCommercial Trust

Frasers Hospitality Trust

Frasers Logistics Trust

Mapletree Commercial Trust

Soilbuild REIT

I do not have the conviction to accumulate more Soilbuild. So I am considering whether I should just sell it rather than to hold a tiny amount with no intention of increasing my holdings. 

**********************************************************

Archived for Reference

**********************************************************

Jan 2019 Edition 

Big Holdings

STI ETF
OCBC
CDL Hospitality Trust
Comfort Delgro (dropped to medium in 2018, back to big in March 2019)

Medium-sized Holdings
First State Regional China (unit trust)

Frasers Centrepoint Trust
Ascott Residence Trust
UOB
Vanguard UK ETF
Vanguard Asia Pacific ETF / iShares Core MSCI Pacific ex-Japan ETF (nearly identical ETFs except that Vanguard pays dividends and includes Korea)
Singtel (added Jan 2019 - using SRS to accumulate)
Euro Stoxx 50 ETF  (iShares and DB) (added Jan 2019)


Small-sized Holdings
I have too many small-sized holdings but these are sort of the 'largest' amongst the 'small'.
Singtel (moved to Medium)
Euro Stoxx 50 ETF  (iShares and DB) (moved to Medium)
Lyxor China Enterprises ETF (unwinding position as Lyxor seems to be exiting Singapore)
GlaxoSmithKline
Sembcorp
Emerging Markets ETF (iShares and Vanguard)



What REITs do I hold?
As REITs are not really well represented in the STI ETF (CCT was a recent addition), I hold several REITs to provide income. Some of the REITs are already in the list above, but here is the list of the REITs I hold:

CDL Hospitality Trust
Frasers Centrepoint Trust
Ascott Residence Trust
Mapletree Logistics Trust
Far East Hospitality Trust
Ascendas Hospitality Trust
OUE Hospitality Trust
CapitaCommercial Trust
Frasers Hospitality Trust
Frasers Logistics Trust
Mapletree Commercial Trust
Soilbuild REIT


I do not have the conviction to accumulate more Soilbuild. So I am considering whether I should just sell it rather than to hold a tiny amount with no intention of increasing my holdings.

The one I want to accumulate more of is Frasers Logistics Trust because of the geographical diversification offered (Australia and Europe).