A few of you have asked me to share more details about my portfolio since my last post yesterday. So, here it goes.
Just on Equity Portfolio – Income & Growth Combined
I don’t have shares of all 63 companies in my watchlist. Currently, I own shares of 50 of them. Still a lot, I know. I hope to progressively reduce the numbers as I migrate more to ETFs.
Furthermore, some of them are very small holdings, legacy reasons because I bought them expensive and/or they are just odd lots. Though it is not exactly 80/20, for my equity portfolio, about 55% of the total value is made up of 20% of the companies. Singtel is the only company with double digit % holding in my portfolio. The rest are about 5% or less.
My top 10 holdings are:
|2||OUE Commerical Reit|
|5||Capitaland Retail China|
|7||Raffles Medical Group|
|10||Singapore Press Holding|
Compared to Q1 (see previous Q1 blog), a few counters have changed their positions:
(1) Frasers Property has dropped from 3rd to 6th => Two reasons: It had ex-div and I also sold some to take profit after getting the dividend)
(2) Starhill Global has dropped out of Top 10 totally => I have been selling it, taking profit at the 76 cents level. I am feeling less optimistic with Retail assets lately and Starhill Global was my biggest exposure.
(3) As Frasers and Starhill dropped out, Manulife Reit and Capitaland Retail China moved up. I also bought some Capitaland Retail China lately. I know it contradicts (2) above but I think it is still undervalued (see previous blog) while I think Starhill Global is fairly valued now.
SIA Engineering and Singapore Press Holding are the type of legacy holdings that I am still keeping as I bought them at a price way above the current level. What to do. Maybe when the market has a major correction, then I may swap them for something else. At the moment, I am just sitting on them and collect dividend. But I am sure their management is not sitting there and doing nothing, their business performance may improve or some corporate actions may happen.
Maybe, SIA will take SIA Engineering private??? Let’s see.
But to Dividends Collected so far …
Singtel would have been the biggest dividend contributor but it would only ex-div in Q3 so I didn’t count it in my Q1 & Q2 dividend collections.
Manulife Reit is the biggest contributor Year to Date. This is partly because they had brought forward some dividends because of the recent right issues at 82.4 cents.
This is followed by OUE and Fraser Property => Full year Dividends. OUE is helped by a one time special dividend. As expected, you will see many similarities between the Top 10 Dividend Contributors and the Top 10 holdings.
Top 10 Dividend Contributors
|4||OUE Commercial Reit|
|5||Capitaland Retail China|
|7||Hutchinson Port Holding Trust|
|8||Starhill Global Reit|
|9||Cache Logistics Reit|
Dividend Yield so Far
The accumulated dividend yield from the equity portfolio so far is 2.9%. So, if things continue like this in 2H of 2019, then exceeding my 5% yield target should be highly possible.
Have a great week folks.