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TJH Portfolio adjustment

For discussion of the practicalities of setting up and operating income-portfolios which follow the HYP Group Guidelines. READ Guidelines before posting
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Newroad
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Re: TJH Portfolio adjustment

#491068

Postby Newroad » April 2nd, 2022, 12:45 pm

Thanks, Terry.

So it reflects actual cost minus realised profits, if I understand correctly.

Seems administratively heavy to me, but I understand the rationale - I was thinking of some sort of similar sort of filter but based on current weight. Much of this I'll have to see as I go along and deal with the practicalities.

Regards, Newroad

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Re: TJH Portfolio adjustment

#491172

Postby tjh290633 » April 2nd, 2022, 11:29 pm

Newroad wrote:Thanks, Terry.

So it reflects actual cost minus realised profits, if I understand correctly.

Seems administratively heavy to me, but I understand the rationale - I was thinking of some sort of similar sort of filter but based on current weight. Much of this I'll have to see as I go along and deal with the practicalities.

Regards, Newroad

Actually realised profits from partial sales are not recognised, because I use the HMRC approach of using the cost of the remaining shares, rather than deducting the sale proceeds from the cost for this purpose. Doing the latter gives me several negative cost shares.

It only takes a couple of entries on a spreadsheet whenever a transaction takes place. I need those records anyway.

TJH

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Re: TJH Portfolio adjustment

#501704

Postby tjh290633 » May 20th, 2022, 12:00 pm

Several things happened today. First, the cash from the Aviva share consolidation arrived in my account, second that enabled me to transfer enough cash to my bank account to pay for my next cruise, and thirdly, having done so, I had enough cash to top up SMDS and TW. by 20% each. SMDS was bought at 302.9p and TW. at 128.9p, both up from last night's close. As a result my top-up table now looks like this:
Top-up          Income                     Cost                
Rank EPIC Rank EPIC % Income Rank Epic % Cost
1 ADM * 1 RIO 7.82% 1 IGG 4.66%
2 RIO* 2 BHP 7.77% 2 BP. 4.53%
3 LLOY+ 3 ADM 5.45% 3 LLOY 4.45%
4 KGF 4 IMB 4.65% 4 BT.A 4.37%
5 LGEN 5 BATS 4.49% 5 VOD 4.11%
6 AV. 6 TW. 4.25% 6 PSON 4.07%
7 PHP 7 LGEN 4.13% 7 SHEL 4.06%
8 ULVR 8 VOD 3.76% 8 MARS 3.98%
9 IMB* 9 IGG 3.55% 9 MKS 3.67%
10 IGG+ 10 NG. 3.33% 10 GSK 3.51%
11 SMDS 11 BP. 3.23% 11 PHP 3.48%
12 VOD 12 SSE 3.10% 12 IMB 3.41%
13 TATE 13 S32 2.88% 13 TSCO 3.37%
14 RKT 14 AV. 2.88% 14 BATS 3.34%
15 TW.* 15 BT.A 2.80% 15 TW. 3.33%
16 BLND 16 BA. 2.74% 16 BLND 3.31%
17 BHP* 17 SHEL 2.59% 17 AV. 3.23%
18 TSCO 18 UU. 2.56% 18 BHP 3.21%
19 BT.A+ 19 TSCO 2.49% 19 LGEN 3.12%
20 MKS# 20 KGF 2.49% 20 SSE 2.99%


One effect is to disqualify TW. from further top-ups at the moment as its share of income has risen above 4.2%, my arbitrary cut-off point to prevent a further top-up from pushing it past 5%. Hence the top 6 in my ranking by share of income are now disqualified(*), as are the top 4 in the share of portfolio cost(+). I continue to disqualify any share not currently paying a dividend(#). Consequently KGF and LGEN now head the list, both being ranked similarly, but LGEN has the higher y eild and so would be chosen over KGF.

My portfolio now looks like this:

Value                           
Rank EPIC Weight % Median
1 SHEL 3.88% 141.1%
2 BA. 3.87% 140.6%
3 BP. 3.82% 138.8%
4 NG. 3.74% 136.1%
5 BHP 3.73% 135.5%
6 S32 3.40% 123.7%
7 SSE 3.39% 123.2%
8 BATS 3.35% 121.9%
9 GSK 3.33% 121.1%
10 DGE 3.32% 120.8%
11 UU. 3.15% 114.6%
12 AZN 3.08% 112.1%
13 TW. 3.03% 110.1%
14 PSON 2.99% 108.8%
15 BT.A 2.98% 108.5%
16 IMB 2.88% 104.6%
17 VOD 2.79% 101.4%
18 TSCO 2.77% 100.7%
19 IGG 2.73% 99.3%
20 IMI 2.69% 97.7%
21 LGEN 2.62% 95.3%
22 RIO 2.62% 95.3%
23 BLND 2.57% 93.4%
24 SGRO 2.57% 93.3%
25 AV. 2.54% 92.1%
26 PHP 2.45% 89.0%
27 KGF 2.33% 84.7%
28 SMDS 2.33% 84.5%
29 TATE 2.27% 82.6%
30 LLOY 2.20% 80.0%
31 CPG 2.08% 75.6%
32 ADM 1.99% 72.3%
33 ULVR 1.87% 68.1%
34 RKT 1.86% 67.6%
35 MARS 1.48% 53.7%
36 MKS 1.27% 46.1%

Mean 2.78%

TW. has now moved above median weight, from 25th to 13th position, while SMDS has moved from 32nd to 28th. The next top-up is likely to be in mid-June, unless some trimming is called for.

TJH

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Re: TJH Portfolio adjustment

#507345

Postby tjh290633 » June 15th, 2022, 11:35 am

Last night, both BAE Systems and BP reached the trigger point for trimming back by 25%, which I did this morning, at 775.3p and 431.8p respectively. This allowed me to bring my holding of Woodside Energy up to median value at 1,810p. As a result my top-up table now looks like this:

Top-up          Income                     Cost                
Rank EPIC Rank EPIC % Income Rank Epic % Cost
1 ADM* 1 RIO 7.70% 1 IGG 4.56%
2 IGG+ 2 BHP 7.65% 2 LLOY 4.36%
3 KGF 3 ADM 5.37% 3 BT.A 4.28%
4 LGEN 4 IMB 4.59% 4 VOD 4.03%
5 RIO* 5 BATS 4.42% 5 PSON 3.99%
6 AV. 6 TW. 4.19% 6 SHEL 3.97%
7 LLOY+ 7 LGEN 4.07% 7 MARS 3.89%
8 SMDS 8 VOD 3.71% 8 MKS 3.59%
9 IMB* 9 IGG 3.49% 9 WDS 3.55%
10 PHP 10 WDS 3.37% 10 GSK 3.44%
11 ULVR 11 NG. 3.28% 11 PHP 3.41%
12 TW. 12 SSE 3.18% 12 IMB 3.34%
13 WDS 13 S32 2.84% 13 BP. 3.33%
14 RKT 14 AV. 2.84% 14 TSCO 3.30%
15 BLND 15 BT.A 2.76% 15 BATS 3.27%
16 VOD 16 SHEL 2.55% 16 TW. 3.26%
17 MKS# 17 UU. 2.53% 17 BLND 3.25%
18 TSCO 18 TSCO 2.46% 18 AV. 3.16%
19 SSE 19 KGF 2.45% 19 BHP 3.15%
20 TATE 20 BP. 2.39% 20 LGEN 3.06%

As always, I disqualify any share which, if topped up by 20% would exceed 5% of either income or portfolio cost, and so the top 5 of income (*) are ruled out as are the top 3 of cost (+). I also rule out any share not currently paying a dividend (#).

Consequently Kingfisher and L&G are next in line for topping up as it stands at the moment, probably at the end of the month. My portfolio now looks like this:

Value                           
Rank EPIC Weight % Median
1 SHEL 3.92% 141.8%
2 BHP 3.65% 132.0%
3 BATS 3.49% 126.1%
4 GSK 3.35% 121.3%
5 S32 3.33% 120.4%
6 NG. 3.32% 120.0%
7 DGE 3.27% 118.2%
8 BA. 3.06% 110.8%
9 BP. 3.05% 110.4%
10 BT.A 3.04% 109.9%
11 PSON 3.02% 109.3%
12 VOD 3.01% 108.9%
13 SSE 2.99% 108.1%
14 AZN 2.99% 108.1%
15 TW. 2.98% 107.9%
16 UU. 2.93% 106.2%
17 IMB 2.90% 105.0%
18 RIO 2.77% 100.3%
19 WDS 2.76% 100.0%
20 TSCO 2.73% 98.7%
21 IMI 2.70% 97.8%
22 LGEN 2.61% 94.5%
23 BLND 2.58% 93.3%
24 IGG 2.57% 92.9%
25 AV. 2.55% 92.3%
26 PHP 2.42% 87.6%
27 TATE 2.29% 83.0%
28 SGRO 2.29% 82.9%
29 KGF 2.27% 82.2%
30 LLOY 2.24% 81.0%
31 SMDS 2.23% 80.9%
32 CPG 2.09% 75.8%
33 ADM 2.01% 72.7%
34 ULVR 1.99% 72.2%
35 RKT 1.84% 66.7%
36 MARS 1.47% 53.1%
37 MKS 1.30% 47.2%

Mean 2.74%

As you can see, WDS is now the median value, with BA. and BP. down to 110% of median weight and SHEL top of the midden. I had contemplated ditching MARS to fund the WDS purchase, but not needed. With the coming split of GSK, that is still a possibility.

TJH

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Re: TJH Portfolio adjustment

#510185

Postby tjh290633 » June 28th, 2022, 10:32 am

Today I had sufficient accumulated dividends to top up SMDS by almost 20%. It was the top eligible share in my top-up list, thanks to the revently increased dividend. My top-up table now looks like this:

Top-up          Income                     Cost                
Rank EPIC Rank EPIC % Income Rank Epic % Cost
1 ADM* 1 RIO 7.64% 1 IGG 4.56%
2 RIO* 2 BHP 7.59% 2 LLOY 4.36%
3 LGEN 3 ADM 5.33% 3 BT.A 4.28%
4 KGF 4 IMB 4.55% 4 VOD 4.03%
5 LLOY+ 5 BATS 4.39% 5 PSON 3.99%
6 WDS 6 TW. 4.16% 6 SHEL 3.97%
7 AV. 7 LGEN 4.04% 7 MARS 3.89%
8 IMB* 8 VOD 3.68% 8 MKS 3.59%
9 PHP 9 IGG 3.47% 9 WDS 3.55%
10 TW. 10 WDS 3.34% 10 GSK 3.44%
11 ULVR 11 NG. 3.26% 11 PHP 3.41%
12 IGG+ 12 SSE 3.16% 12 IMB 3.34%
13 RKT 13 SMDS 2.83% 13 BP. 3.33%
14 SMDS 14 S32 2.82% 14 TSCO 3.30%
15 BLND 15 AV. 2.82% 15 BATS 3.27%
16 BHP* 16 BT.A 2.74% 16 TW. 3.26%
17 VOD 17 SHEL 2.53% 17 BLND 3.25%
18 TATE 18 UU. 2.51% 18 AV. 3.16%
19 MARS# 19 TSCO 2.44% 19 LGEN 3.06%
20 MKS# 20 KGF 2.43% 20 SSE 2.93%

As always I disqualify shares which, if topped up by 20% would exceed 5% of either share of income (*) or portfolio cost (+). Shares not currently paying a dividend are also excluded (#).

This means that LGEN is next in line with KGF on its heels. It looks like mid-August before I do anything further, and the GSK split will complicate matters.

My portfolio now looks like this:

Value                           
Rank EPIC Weight % Median
1 BATS 3.68% 134.9%
2 SHEL 3.53% 129.6%
3 DGE 3.41% 125.2%
4 GSK 3.40% 124.9%
5 BHP 3.38% 124.1%
6 NG. 3.30% 121.0%
7 AZN 3.26% 119.7%
8 PSON 3.18% 116.7%
9 BA. 3.11% 114.0%
10 BT.A 3.08% 113.1%
11 VOD 3.01% 110.2%
12 SSE 2.96% 108.7%
13 S32 2.95% 108.4%
14 IMB 2.92% 107.2%
15 UU. 2.88% 105.8%
16 TW. 2.81% 103.2%
17 IGG 2.77% 101.6%
18 TSCO 2.77% 101.5%
19 BP. 2.73% 100.0%
20 SMDS 2.72% 99.7%
21 WDS 2.64% 96.9%
22 LGEN 2.63% 96.5%
23 IMI 2.62% 96.1%
24 AV. 2.56% 94.0%
25 BLND 2.49% 91.2%
26 RIO 2.48% 91.1%
27 SGRO 2.44% 89.6%
28 PHP 2.41% 88.4%
29 TATE 2.40% 88.0%
30 KGF 2.37% 87.0%
31 LLOY 2.20% 80.8%
32 CPG 2.11% 77.5%
33 ADM 2.10% 76.9%
34 ULVR 2.03% 74.6%
35 RKT 1.88% 69.1%
36 MKS 1.38% 50.7%
37 MARS 1.36% 50.0%

Mean 2.74%

SMDS has now moved up from 30th in rank by weight to 20th, just below median value.

TJH

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Re: TJH Portfolio adjustment

#523442

Postby tjh290633 » August 18th, 2022, 11:49 am

Having threatened to do so, I took the plunge this morning and ditched Marston's. This enabled me to bring Haleon up to a more sensible weight, similar to that of GSK.

Obviously a loss on the MARS holding, but it has been on borrowed time.

I am currently sitting in my car awaiting the emergence of Mrs H from her hairdresser before we go to a lunch date. Fuller details will follow, but little effect, if any, on my top-up table.

TJH

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Re: TJH Portfolio adjustment

#523700

Postby tjh290633 » August 19th, 2022, 11:33 am

Back at my desk. The top-up table looks like this, as of last night:

Top-up          Income                     Cost                
Rank EPIC Rank EPIC % Income Rank Epic % Cost
1 ADM 1 BHP 7.79% 1 IGG 4.63%
2 RIO* 2 RIO 5.94% 2 LLOY 4.42%
3 KGF 3 IMB 4.66% 3 BT.A 4.34%
4 LLOY+ 4 TW. 4.49% 4 VOD 4.09%
5 TW.* 5 BATS 4.49% 5 PSON 4.05%
6 BLND 6 LGEN 4.19% 6 SHEL 4.03%
7 GSK 7 VOD 3.75% 7 MKS 3.65%
8 AV. 8 IGG 3.63% 8 WDS 3.60%
9 BT.A+ 9 ADM 3.46% 9 PHP 3.46%
10 LGEN 10 WDS 3.42% 10 IMB 3.39%
11 SMDS 11 NG. 3.34% 11 BP. 3.38%
12 WDS 12 AV. 3.27% 12 TSCO 3.35%
13 IMB* 13 SSE 3.23% 13 BATS 3.32%
14 VOD 14 SMDS 2.90% 14 TW. 3.31%
15 ULVR 15 S32 2.89% 15 BLND 3.29%
16 HLN 16 BT.A 2.80% 16 AV. 3.21%
17 PHP 17 SHEL 2.72% 17 LGEN 3.10%
18 RKT 18 UU. 2.57% 18 SSE 2.97%
19 BHP* 19 BP. 2.56% 19 GSK 2.87%
20 MKS# 20 TSCO 2.50% 20 HLN 2.77%

As always I disqualify any share which, if topped up by 20%, would exceed 5% of either share of dividends (*) or share of porfolio cost (+), and also any share no currently paying dividends (#). As Admiral have now paid the last of their special dividends relating to a disposal, they now become qualified again and are first in line. Kingfisher and British land are currently next in line, but the situation can change daily.

My portfolio now looks like this:

Value                           
Rank EPIC Weight % Median
1 SHEL 3.60% 131.0%
2 DGE 3.54% 128.7%
3 NG. 3.53% 128.3%
4 PSON 3.42% 124.5%
5 BHP 3.31% 120.5%
6 BATS 3.27% 119.0%
7 AZN 3.23% 117.4%
8 SSE 3.20% 116.3%
9 IGG 3.19% 116.2%
10 UU. 3.13% 113.8%
11 S32 3.04% 110.5%
12 BA. 3.02% 109.7%
13 BP. 2.99% 108.7%
14 IMB 2.94% 107.1%
15 TSCO 2.86% 104.1%
16 LGEN 2.80% 101.9%
17 VOD 2.79% 101.4%
18 TW. 2.77% 100.9%
19 WDS 2.75% 100.0%
20 AV. 2.65% 96.5%
21 IMI 2.62% 95.1%
22 SMDS 2.56% 92.9%
23 BT.A 2.54% 92.6%
24 PHP 2.44% 88.7%
25 SGRO 2.42% 88.1%
26 TATE 2.36% 86.0%
27 CPG 2.36% 85.9%
28 RIO 2.36% 85.9%
29 BLND 2.31% 84.0%
30 KGF 2.30% 83.5%
31 LLOY 2.26% 82.1%
32 GSK 2.10% 76.4%
33 ULVR 2.08% 75.7%
34 ADM 2.07% 75.4%
35 HLN 2.03% 73.8%
36 RKT 1.92% 69.8%
37 MKS 1.23% 44.8%

As you can see, Haleon is fairly close to the value of GSK. Evenso, only 35th position. Little prospect of any need to trim a holding, so it will be merely reinvestment of accumulated dividends. My drive needs resurfacing, so that might take priority.

TJH

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Re: TJH Portfolio adjustment

#523736

Postby idpickering » August 19th, 2022, 2:06 pm

Thanks for keeping us up to date Terry. Funnily enough, I'm making a smallish top up of my Admiral Group holdings next week.
As of now, that'd make them 4.1% in capital value terms, of my 28 share HYP. That is slightly higher that the 3.6% average capital value weighting of my HYP shares, but I'm ok with that, as going forward new monies would be invested elsewhere in my HYP.

Ian.

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Re: TJH Portfolio adjustment

#523914

Postby funduffer » August 20th, 2022, 8:04 am

So you finally ditched Marstons. I am in the same position - sitting on a long held Marstons holding waiting for dividends to resume, which there is no prospect for in the short term.

I visited 3 Marstons pubs on my recent break in the Lake District (to spend my shareholder vouchers). In Keswick, which was heaving with visitors, one pub was closed due to lack of staff, one was empty and very run down, and the other had a very restricted menu. I was shocked at how bad they were in a relatively booming tourist location.

If this is representative of Marstons' pub estate, they are going nowhere!

Time to follow suit and ditch, I think.

FD

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Re: TJH Portfolio adjustment

#525071

Postby gigha » August 24th, 2022, 9:53 pm

tjh290633 wrote:Having threatened to do so, I took the plunge this morning and ditched Marston's. This enabled me to bring Haleon up to a more sensible weight, similar to that of GSK.

Obviously a loss on the MARS holding, but it has been on borrowed time.

I am currently sitting in my car awaiting the emergence of Mrs H from her hairdresser before we go to a lunch date. Fuller details will follow, but little effect, if any, on my top-up table.

TJH

Hi Terry, what yield are you using for Haleon and Woodside to help you decide whether to top them up?

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Re: TJH Portfolio adjustment

#525093

Postby tjh290633 » August 24th, 2022, 10:43 pm

gigha wrote:
tjh290633 wrote:Having threatened to do so, I took the plunge this morning and ditched Marston's. This enabled me to bring Haleon up to a more sensible weight, similar to that of GSK.

Obviously a loss on the MARS holding, but it has been on borrowed time.

I am currently sitting in my car awaiting the emergence of Mrs H from her hairdresser before we go to a lunch date. Fuller details will follow, but little effect, if any, on my top-up table.

TJH

Hi Terry, what yield are you using for Haleon and Woodside to help you decide whether to top them up?

For Woodside I am taking 108p/share for the last year, taken from their website (US$1.35) and converted at $1.25/GBP.

For Haleon I have taken 5p interim and 3p final, the 5p being taken from GSK's RNS https://www.investegate.co.uk/glaxosmit ... 00094453J/ and the 3p being my guess for the final. There is more information on the Haleon website, but it is not very clear.

TJH

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Re: TJH Portfolio adjustment

#529777

Postby tjh290633 » September 14th, 2022, 11:42 am

Last night SHEL rose above my weight limit of 1.5 times the medain holding weight, so this morning I trimmed it by 25% at 2301p. This allowed me to top up by 20% the top 3 eligible shares in my top-up ranking table. These were ADM at 2221p, BLND at 409p and GSK at 1346p. As a result my top-up table now looks like this:
Top-up          Income                     Cost                
Rank EPIC Rank EPIC % Income Rank Epic % Cost
1 RIO* 1 BHP 7.68% 1 IGG 4.63%
2 ADM 2 RIO 5.71% 2 LLOY 4.42%
3 TW.* 3 S32 5.59% 3 BT.A 4.34%
4 BT.A+ 4 IMB 4.48% 4 VOD 4.09%
5 KGF 5 TW. 4.32% 5 PSON 4.05%
6 PHP 6 BATS 4.32% 6 BLND 3.85%
7 VOD 7 LGEN 4.03% 7 MKS 3.65%
8 BLND 8 ADM 3.99% 8 WDS 3.60%
9 LGEN 9 VOD 3.60% 9 PHP 3.46%
10 LLOY+ 10 IGG 3.49% 10 GSK 3.43%
11 ULVR 11 WDS 3.29% 11 IMB 3.39%
12 AV. 12 NG. 3.21% 12 BP. 3.38%
13 SGRO 13 AV. 3.15% 13 TSCO 3.35%
14 HLN 14 SSE 3.11% 14 BATS 3.32%
15 IMB* 15 SMDS 2.79% 15 TW. 3.31%
16 RKT 16 BLND 2.67% 16 AV. 3.21%
17 SMDS 17 BT.A 2.60% 17 LGEN 3.10%
18 TATE 18 BP. 2.51% 18 SHEL 3.03%
19 BHP* 19 UU. 2.48% 19 SSE 2.97%
20 WDS 20 TSCO 2.40% 20 HLN 2.77%

Note: Cost rank column subsequently corrected.

As always, I disqualify any share which, if topped up by 20%, would exceed 5% of either share of income(*) or of portfolio cost(+). Shares not currently paying a dividend are also excluded. This means that Admiral still ranks for a further top-up, followed by Kingfisher as it stands. September being a prolific month for dividends, that top-up will be in a couple of weeks' time.

My portfolio now looks like this:

Value                           
Rank EPIC Weight % Median
1 PSON 3.72% 144.4%
2 DGE 3.55% 137.8%
3 BATS 3.43% 133.0%
4 BHP 3.31% 128.5%
5 S32 3.27% 127.0%
6 NG. 3.27% 126.8%
7 SSE 3.22% 124.8%
8 BP. 3.21% 124.7%
9 AZN 3.12% 121.0%
10 BA. 3.09% 120.0%
11 IMB 3.09% 119.9%
12 IGG 3.07% 119.3%
13 UU. 3.02% 117.0%
14 WDS 2.90% 112.4%
15 SHEL 2.89% 112.1%
16 LGEN 2.80% 108.5%
17 AV. 2.75% 106.7%
18 TSCO 2.67% 103.7%
19 VOD 2.58% 100.0%
20 SMDS 2.57% 99.8%
21 TW. 2.52% 97.6%
22 GSK 2.49% 96.7%
23 ADM 2.48% 96.2%
24 BLND 2.46% 95.6%
25 IMI 2.46% 95.5%
26 RIO 2.41% 93.7%
27 CPG 2.38% 92.4%
28 BT.A 2.38% 92.3%
29 LLOY 2.36% 91.7%
30 KGF 2.36% 91.5%
31 PHP 2.27% 87.9%
32 TATE 2.22% 85.9%
33 ULVR 2.19% 84.9%
34 HLN 2.17% 84.4%
35 SGRO 2.14% 83.1%
36 RKT 1.99% 77.3%
37 MKS 1.16% 45.1%

Mean 2.75%

As you can see, SHEL has dropped by 15 places and the 3 topped-up shares are clustered at 22nd-25th positions. Pearson could be next in line for trimming, but you never know.

TJH

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Re: TJH Portfolio adjustment

#531727

Postby tjh290633 » September 23rd, 2022, 9:57 am

Thanks to the big dividend from BHP, I was able to make a further top-up of Admiral (SDM) this morning. ADM was head of my eligible shares for topping up with a yield of over 8%, although a one-off element will drop out in the future.

As a result my top-up table now looks like this:

Top-up          Income                     Cost                
Rank EPIC Rank EPIC % Income Rank Epic % Cost
1 RIO* 1 BHP 7.62% 1 IGG 4.63%
2 PHP 2 RIO 5.66% 2 LLOY 4.42%
3 BLND 3 S32 5.55% 3 BT.A 4.34%
4 BT.A+ 4 ADM 4.75% 4 VOD 4.09%
5 TW.* 5 IMB 4.44% 5 PSON 4.05%
6 LGEN 6 TW. 4.29% 6 BLND 3.85%
7 VOD 7 BATS 4.28% 7 MKS 3.65%
8 ADM* 8 LGEN 4.00% 8 WDS 3.60%
9 KGF 9 VOD 3.58% 9 PHP 3.46%
10 SMDS 10 IGG 3.46% 10 GSK 3.43%
11 S32* 11 WDS 3.26% 11 IMB 3.39%
12 SGRO 12 NG. 3.18% 12 BP. 3.38%
13 AV. 13 AV. 3.12% 13 TSCO 3.35%
14 ULVR 14 SSE 3.09% 14 BATS 3.32%
15 RKT 15 SMDS 2.76% 15 TW. 3.31%
16 TATE 16 BLND 2.65% 16 AV. 3.21%
17 BHP* 17 BT.A 2.58% 17 LGEN 3.10%
18 IGG+ 18 BP. 2.49% 18 SHEL 3.03%
19 HLN 19 UU. 2.46% 19 SSE 2.97%
20 IMB* 20 TSCO 2.38% 20 HLN 2.77%

As always I disqualify any share which, if topped up by 20%, would then exceed 5 % of either share of income (*) or share of portfolio cost (+). Shares not currently paying a dividend are also excluded. Admiral therefore rejoins the list of the disqualified. PHP and BLND are currently the favourites for topping up, sometime in October.

The Portfolio now looks like this:

Value                           
Rank EPIC Weight % Median
1 PSON 3.63% 137.1%
2 DGE 3.61% 136.5%
3 BATS 3.50% 132.0%
4 BHP 3.37% 127.1%
5 NG. 3.29% 124.3%
6 BP. 3.28% 124.1%
7 BA. 3.25% 122.6%
8 SSE 3.18% 120.1%
9 IMB 3.12% 117.9%
10 AZN 3.09% 116.6%
11 S32 3.06% 115.6%
12 IGG 3.04% 115.0%
13 SHEL 3.02% 114.2%
14 WDS 2.94% 111.1%
15 ADM 2.89% 109.0%
16 UU. 2.86% 107.9%
17 LGEN 2.80% 105.7%
18 AV. 2.77% 104.8%
19 VOD 2.65% 100.0%
20 TW. 2.56% 96.5%
21 TSCO 2.55% 96.1%
22 LLOY 2.51% 94.8%
23 SMDS 2.49% 94.0%
24 GSK 2.47% 93.3%
25 IMI 2.46% 93.0%
26 RIO 2.44% 92.3%
27 KGF 2.36% 89.2%
28 BLND 2.35% 88.7%
29 CPG 2.31% 87.3%
30 BT.A 2.31% 87.2%
31 ULVR 2.27% 85.9%
32 HLN 2.23% 84.3%
33 TATE 2.19% 82.8%
34 PHP 2.18% 82.2%
35 SGRO 1.96% 74.0%
36 RKT 1.92% 72.6%
37 MKS 1.08% 40.9%

Mean 2.75%

Admiral has now risen from 26th to 15th position. Pearson has been heading northwards recently but fell back, so a trimming of any share is improbable, but you never know.

TJH

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Re: TJH Portfolio adjustment

#534693

Postby tjh290633 » October 4th, 2022, 12:10 pm

Thanks to Admiral's dividends just received, I was able to top up Primary Health Properties plc (PHP) this morning, adding 20% to my holding at 112.13p. It was top of my top-up rankings of eligible shares and so has risen from 34/37th to 24/37th. Consequently my top-up table now looks like this:

Top-up          Income                     Cost                
Rank EPIC Rank EPIC % Income Rank Epic % Cost
1 TW.* 1 BHP 7.59% 1 IGG 4.61%
2 BT.A+ 2 RIO 5.64% 2 LLOY 4.40%
3 RIO* 3 S32 5.53% 3 BT.A 4.32%
4 BLND 4 ADM 4.73% 4 VOD 4.06%
5 LGEN 5 IMB 4.42% 5 PSON 4.03%
6 KGF 6 TW. 4.27% 6 PHP 3.95%
7 PHP 7 BATS 4.27% 7 BLND 3.83%
8 S32* 8 LGEN 3.98% 8 MKS 3.63%
9 ADM* 9 VOD 3.56% 9 WDS 3.58%
10 LLOY+ 10 IGG 3.45% 10 GSK 3.41%
11 VOD 11 WDS 3.25% 11 IMB 3.38%
12 SGRO 12 NG. 3.17% 12 BP. 3.36%
13 ULVR 13 AV. 3.11% 13 TSCO 3.33%
14 AV. 14 SSE 3.07% 14 BATS 3.30%
15 SMDS 15 SMDS 2.75% 15 TW. 3.29%
16 TATE 16 PHP 2.67% 16 AV. 3.19%
17 TSCO 17 BLND 2.64% 17 LGEN 3.09%
18 RKT 18 BT.A 2.56% 18 SHEL 3.01%
19 BHP* 19 BP. 2.47% 19 SSE 2.96%
20 IMB* 20 UU. 2.44% 20 HLN 2.76%

As always, I disqualify any share which, if topped up by 20% would exceed 5% of either share of dividend income(*) or share of portfolio cost(+). Any share not currently paying dividends is also excluded. That makes the cut-off point about 4.2%. Hence the top 7 of the share of income ranking and the top 3 of the portfolio cost ranking are excluded, as indicated.

That puts BLND and LGEN in the running for future top-ups. Probably later this month

My portfolio now looks like this:

Value                           
Rank EPIC Weight % Median
1 PSON 3.82% 145.7%
2 DGE 3.71% 141.7%
3 BHP 3.52% 134.5%
4 BATS 3.41% 130.1%
5 BA. 3.34% 127.3%
6 BP. 3.31% 126.1%
7 IMB 3.22% 122.9%
8 IGG 3.19% 121.9%
9 AZN 3.17% 121.1%
10 NG. 3.12% 118.9%
11 SHEL 3.10% 118.2%
12 WDS 3.05% 116.4%
13 SSE 3.03% 115.5%
14 S32 2.93% 111.9%
15 ADM 2.74% 104.4%
16 UU. 2.71% 103.5%
17 AV. 2.65% 101.2%
18 VOD 2.63% 100.3%
19 GSK 2.62% 100.0%
20 IMI 2.61% 99.5%
21 RIO 2.61% 99.4%
22 SMDS 2.57% 98.0%
23 LGEN 2.54% 96.8%
24 PHP 2.47% 94.3%
25 TSCO 2.44% 93.1%
26 CPG 2.37% 90.5%
27 HLN 2.37% 90.4%
28 KGF 2.30% 87.8%
29 BLND 2.30% 87.7%
30 TW. 2.29% 87.2%
31 LLOY 2.28% 86.9%
32 BT.A 2.26% 86.4%
33 ULVR 2.26% 86.4%
34 TATE 2.22% 84.6%
35 RKT 1.93% 73.6%
36 SGRO 1.92% 73.2%
37 MKS 1.01% 38.7%

Mean 2.75%

MKS is on borrowed time unless it bucks its ideas up. PSON and DGE have both been flirting with my trimming trigger point of 150% of the median holding value.

TJH

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Re: TJH Portfolio adjustment

#536970

Postby tjh290633 » October 13th, 2022, 12:09 pm

Another trimming operaation. Pearson (PSON) had soared past my weight limit last night, so today I have trimmed it by 25% at 907p. This allowed me to top up two holdings by 20%, British Land (BLND) at 326p and Kingfisher (KGF) at 205p. Today also sees the receipt of a large dividend from South32 (S32) which will allow me to make a further top-up next week. Unfortunately I shall be away for the weekend, so will probably do that on Tuesday. This has boosted income, as both shares yield almost 3 times as much as PSON's 2.3%.

As a result my top-up table now looks like this:

Top-up          Income                     Cost                
Rank EPIC Rank EPIC % Income Rank Epic % Cost
1 TW.* 1 BHP 7.56% 1 IGG 4.63%
2 LGEN 2 RIO 5.62% 2 LLOY 4.42%
3 PHP 3 S32 5.51% 3 BLND 4.37%
4 BT.A+ 4 ADM 4.72% 4 BT.A 4.34%
5 RIO* 5 IMB 4.41% 5 VOD 4.08%
6 VOD 6 TW. 4.25% 6 PHP 3.97%
7 AV. 7 BATS 4.25% 7 MKS 3.64%
8 LLOY+ 8 LGEN 3.97% 8 WDS 3.60%
9 BLND+ 9 VOD 3.55% 9 GSK 3.43%
10 SGRO 10 IGG 3.44% 10 IMB 3.39%
11 ADM* 11 NG. 3.16% 11 BP. 3.38%
12 TSCO 12 BLND 3.16% 12 TSCO 3.35%
13 KGF 13 AV. 3.10% 13 BATS 3.32%
14 S32* 14 SSE 3.06% 14 TW. 3.30%
15 RKT 15 KGF 2.83% 15 AV. 3.21%
16 ULVR 16 WDS 2.82% 16 LGEN 3.10%
17 TATE 17 SMDS 2.74% 17 PSON 3.04%
18 UU. 18 PHP 2.66% 18 SHEL 3.03%
19 BHP* 19 BT.A 2.56% 19 SSE 2.97%
20 MKS# 20 TSCO 2.51% 20 HLN 2.77%

As is my habit, I disqualify any share from being topped up if, by doing so, it would exceed 5% of share of dividend income (*) or share of portfolio cost (+). That effectively sets the cut-off point at 4.2%. Any share not currently paying a dividend is also disqualified (#). This means that LGEN or PHP are next in line for topping up. In my table both rank equally, so I shall choose the one with the highest yield - LGEN. BLND has now reached disqiualification.

My portfolio now looks like this:

Value                           
Rank EPIC Weight % Median
1 DGE 3.79% 144.7%
2 BATS 3.57% 136.4%
3 BHP 3.53% 134.9%
4 IMB 3.52% 134.4%
5 BA. 3.51% 134.3%
6 BP. 3.43% 131.1%
7 AZN 3.29% 125.7%
8 IGG 3.22% 122.9%
9 SHEL 3.13% 119.5%
10 WDS 3.06% 117.0%
11 S32 3.04% 116.2%
12 PSON 3.01% 115.0%
13 NG. 2.93% 112.0%
14 SSE 2.81% 107.4%
15 ADM 2.78% 106.2%
16 GSK 2.76% 105.5%
17 IMI 2.70% 103.1%
18 SMDS 2.64% 101.0%
19 RIO 2.62% 100.0%
20 BLND 2.59% 98.8%
21 KGF 2.57% 98.2%
22 VOD 2.57% 98.0%
23 UU. 2.56% 97.7%
24 AV. 2.55% 97.5%
25 HLN 2.45% 93.5%
26 CPG 2.43% 92.8%
27 LGEN 2.39% 91.2%
28 TSCO 2.38% 90.9%
29 ULVR 2.35% 89.8%
30 TW. 2.24% 85.4%
31 TATE 2.23% 85.2%
32 PHP 2.22% 85.0%
33 BT.A 2.19% 83.5%
34 LLOY 2.18% 83.3%
35 RKT 1.97% 75.2%
36 SGRO 1.82% 69.5%
37 MKS 0.98% 37.2%

Mean 2.75%

PSON has dropped to 12th position, BLND has moved up from 33rd to 20th while KGF has moved from 34th to 21st place. DGE is well aheasd of the field, but has some way to gobefore it might need trimming. This is actually the 5th time I have needed to trim a holding this year, but other corporate events have taken place, like TATE's consolidation, Aviva's B-shares, Glaxo demerging Haleon and the disposal of Marstons.

TJH

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Re: TJH Portfolio adjustment

#538913

Postby tjh290633 » October 19th, 2022, 11:03 am

I had planned to spend that spare cash on LGEN, but its sharp rise put it out of contention yesterday, so instead today PHP (Primary Healthcare Properties) has been topped up by 20%. It was top eligible share in my top-up rankings. The deed was done at 101.7p and as a result my top-up table now looks like this:

Top-up          Income                     Cost                
Rank EPIC Rank EPIC % Income Rank Epic % Cost
1 TW.* 1 BHP 7.52% 1 IGG 4.58%
2 RIO* 2 RIO 5.59% 2 PHP 4.49%
3 BT.A+ 3 S32 5.48% 3 LLOY 4.37%
4 LGEN 4 ADM 4.69% 4 BLND 4.33%
5 VOD 5 IMB 4.39% 5 BT.A 4.29%
6 PHP+ 6 TW. 4.23% 6 VOD 4.04%
7 ADM* 7 BATS 4.23% 7 MKS 3.61%
8 TSCO 8 LGEN 3.95% 8 WDS 3.56%
9 SGRO 9 VOD 3.53% 9 GSK 3.39%
10 AV. 10 IGG 3.42% 10 IMB 3.36%
11 BLND+ 11 PHP 3.17% 11 BP. 3.34%
12 LLOY+ 12 NG. 3.14% 12 TSCO 3.31%
13 KGF 13 BLND 3.14% 13 BATS 3.28%
14 S32* 14 AV. 3.08% 14 TW. 3.27%
15 ULVR 15 SSE 3.05% 15 KGF 3.18%
16 TATE 16 KGF 2.81% 16 AV. 3.17%
17 BHP* 17 WDS 2.80% 17 LGEN 3.07%
18 RKT 18 SMDS 2.73% 18 PSON 3.00%
19 MKS# 19 BT.A 2.54% 19 SHEL 2.99%
20 SSE 20 TSCO 2.49% 20 SSE 2.94%

As have explained before, I disqualify any share which, if topped up by 20% would exceed 5% of the share of income (*), 5% of the share of portfolio cost (+) or which is not currently paying dividends (#). That sets a cut off point of 4.2% of those parameters. Consequently PHP now finds itself among the disqualified shares for further top-ups. The top runners today are LGEN and VOD.

My portfolio now looks like this:

Value                           
Rank EPIC Weight % Median
1 DGE 3.67% 136.1%
2 BATS 3.44% 127.5%
3 IMB 3.39% 125.5%
4 BA. 3.33% 123.1%
5 BHP 3.32% 123.1%
6 BP. 3.31% 122.7%
7 IGG 3.19% 118.1%
8 AZN 3.18% 117.7%
9 SHEL 3.03% 112.0%
10 NG. 3.02% 111.9%
11 S32 3.01% 111.3%
12 PSON 2.89% 107.0%
13 WDS 2.88% 106.7%
14 SSE 2.84% 105.1%
15 SMDS 2.80% 103.6%
16 ADM 2.79% 103.3%
17 IMI 2.77% 102.6%
18 UU. 2.77% 102.5%
19 GSK 2.70% 100.0%
20 BLND 2.70% 99.8%
21 AV. 2.69% 99.5%
22 PHP 2.68% 99.2%
23 KGF 2.64% 97.8%
24 LGEN 2.59% 96.0%
25 VOD 2.52% 93.2%
26 RIO 2.50% 92.4%
27 CPG 2.41% 89.4%
28 TSCO 2.38% 88.2%
29 HLN 2.34% 86.8%
30 LLOY 2.32% 85.8%
31 TW. 2.28% 84.5%
32 ULVR 2.27% 84.0%
33 BT.A 2.26% 83.6%
34 TATE 2.24% 83.0%
35 RKT 1.90% 70.5%
36 SGRO 1.90% 70.3%
37 MKS 1.05% 39.0%

Mean 2.75%

PHP has now moved up from 31st to 22nd position. The next opportunity for a top-up looks like being in a month's time, but things can move quickly.

Incidentally the current portfolio historic yield is 5.4%. PHP yields 6.4%.

TJH

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Re: TJH Portfolio adjustment

#548451

Postby tjh290633 » November 21st, 2022, 12:28 pm

I have today topped up my holding of Vodafone, at 97.6p which is the lowest price I have ever paid for them. As a result my top-up table now looks like this:

Top-up          Income                     Cost                
Rank EPIC Rank EPIC % Income Rank Epic % Cost
1 BT.A+ 1 BHP 7.35% 1 VOD 4.61%
2 TW. 2 RIO 5.46% 2 IGG 4.55%
3 RIO* 3 S32 5.35% 3 PHP 4.46%
4 VOD+ 4 ADM 4.58% 4 LLOY 4.35%
5 ADM* 5 IMB 4.33% 5 BLND 4.30%
6 LGEN 6 VOD 4.18% 6 BT.A 4.27%
7 S32* 7 TW. 4.13% 7 MKS 3.58%
8 LLOY+ 8 BATS 4.13% 8 WDS 3.54%
9 TSCO 9 LGEN 3.86% 9 GSK 3.37%
10 RKT 10 IGG 3.34% 10 IMB 3.34%
11 ULVR 11 BLND 3.24% 11 BP. 3.32%
12 SGRO 12 NG. 3.11% 12 TSCO 3.29%
13 AV. 13 PHP 3.10% 13 BATS 3.26%
14 PHP+ 14 SSE 3.10% 14 TW. 3.25%
15 BLND+ 15 AV. 3.01% 15 KGF 3.16%
16 KGF 16 KGF 2.75% 16 AV. 3.15%
17 GSK 17 WDS 2.74% 17 LGEN 3.05%
18 SMDS 18 SMDS 2.66% 18 PSON 2.99%
19 TATE 19 BP. 2.55% 19 SHEL 2.98%
20 BHP* 20 BT.A 2.48% 20 SSE 2.92%


As always, I disqualify any share which, if topped up by 20%, would exceed 5% of share of income (*) or of share of portfolio cost (+). I also exclude any share not currently paying a dividend, but none are featured above. Vodafone is now disqualified by virtue on cost, but today's increased dividend from Compass Group has released TW. and BATS from the income hurdle at 4.20%. Consequently TW. currently stands as No.1 for topping up

My portfolio now looks like this:

Value                           
Rank EPIC Weight % Median
1 BHP 3.48% 124.8%
2 DGE 3.38% 121.2%
3 IMB 3.32% 118.9%
4 BP. 3.26% 117.1%
5 AZN 3.25% 116.5%
6 BATS 3.20% 114.7%
7 IGG 3.15% 112.9%
8 NG. 3.12% 111.9%
9 WDS 3.09% 110.9%
10 IMI 3.01% 108.1%
11 SSE 3.00% 107.5%
12 BA. 2.95% 105.9%
13 PSON 2.91% 104.4%
14 SHEL 2.90% 104.0%
15 BLND 2.90% 103.9%
16 UU. 2.84% 102.0%
17 PHP 2.82% 101.3%
18 S32 2.82% 101.2%
19 AV. 2.79% 100.0%
20 SMDS 2.78% 99.6%
21 KGF 2.77% 99.5%
22 ADM 2.76% 98.9%
23 LGEN 2.74% 98.4%
24 VOD 2.72% 97.7%
25 RIO 2.61% 93.5%
26 GSK 2.50% 89.5%
27 TSCO 2.48% 89.0%
28 TW. 2.39% 85.9%
29 HLN 2.31% 82.7%
30 LLOY 2.28% 81.7%
31 CPG 2.25% 80.8%
32 TATE 2.20% 78.9%
33 ULVR 2.17% 77.7%
34 BT.A 2.02% 72.3%
35 SGRO 1.95% 69.8%
36 RKT 1.74% 62.3%
37 MKS 1.16% 41.6%

Mean 2.75%

VOD has moved up from 30th to 24th position. No further action anticipated until mid-January, but things can change quickly.

TJH

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Re: TJH Portfolio adjustment

#548475

Postby Arborbridge » November 21st, 2022, 1:21 pm

Likewise, topped up VOD today.
Will publish the change to my HYP later.

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Re: TJH Portfolio adjustment

#549178

Postby funduffer » November 23rd, 2022, 1:07 pm

Very brave of you both to top up VOD.

I have no confidence in this company (I hold). It would not qualify as a new a new HYP due to poor dividend history.

I can see why tjh operates a cost limit, and not surprised that VOD now tops the table.

Of course you may have hit the sweet spot for a VOD turnaround, but they never fail to disappoint me!

FD

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Re: TJH Portfolio adjustment

#565263

Postby tjh290633 » January 31st, 2023, 3:46 pm

Having had need to realise funds for repairs to our roof, I took the decision to dispose of my two lowest ranking shares in the yield column, Compass Group and Marks & Spencer. I held on to MKS for sentimental reasons, having inherited them from my mother in 1970. Compass have given me a good return, 13.12% since they were demerged from Granada Compass in 2001, deriving from a holding in Forte bought for their shareholder discount. MKS overall returned 3.22%, although its growth in the early years was terrific.

With the spare cash, I topped up LGEN and TW., both at 20%, LGEN being 252.8p and TW. 116p. As a result my top-up table looks like this:

Top-up          Income                     Cost                
Rank EPIC Rank EPIC % Income Rank Epic % Cost
1 VOD* 1 BHP 7.34% 1 VOD 4.73%
2 BT.A+ 2 RIO 5.45% 2 IGG 4.67%
3 ADM* 3 S32 5.35% 3 PHP 4.57%
4 RIO* 4 TW. 4.95% 4 LLOY 4.46%
5 PHP+ 5 LGEN 4.62% 5 BLND 4.41%
6 BATS 6 ADM 4.58% 6 BT.A 4.37%
7 AV. 7 IMB 4.33% 7 TW. 4.07%
8 TSCO 8 VOD 4.17% 8 LGEN 3.86%
9 RKT 9 BATS 4.13% 9 WDS 3.63%
10 GSK 10 IGG 3.36% 10 GSK 3.45%
11 ULVR 11 BLND 3.24% 11 IMB 3.42%
12 IGG+ 12 PHP 3.12% 12 BP. 3.40%
13 SGRO 13 NG. 3.10% 13 TSCO 3.37%
14 LLOY+ 14 SSE 3.09% 14 BATS 3.35%
15 IMB* 15 AV. 3.00% 15 KGF 3.24%
16 BHP* 16 SMDS 2.87% 16 AV. 3.23%
17 HLN 17 KGF 2.74% 17 PSON 3.06%
18 LGEN* 18 WDS 2.73% 18 SHEL 3.05%
19 SSE 19 BP. 2.51% 19 SSE 2.99%
20 TATE 20 BT.A 2.48% 20 HLN 2.79%

As always I disqualify any share which, if topped up by 20% would exceed either 5% of income(*) or of portfolio cost (+). I now have no share not paying a dividend. Both LGEN and TW. move into this range. BATS is the current next eligible share for topping up.

My portfolio now looks like this:

Value                           
Rank EPIC Weight % Median
1 BHP 3.94% 131.1%
2 S32 3.36% 111.7%
3 BP. 3.33% 110.7%
4 BA. 3.24% 107.7%
5 TW. 3.19% 106.1%
6 SMDS 3.16% 105.0%
7 LGEN 3.14% 104.5%
8 AZN 3.14% 104.5%
9 NG. 3.12% 103.9%
10 IMB 3.12% 103.7%
11 BLND 3.11% 103.3%
12 KGF 3.10% 103.3%
13 DGE 3.09% 102.9%
14 WDS 3.04% 101.1%
15 SSE 3.03% 100.8%
16 RIO 3.02% 100.4%
17 IMI 3.02% 100.4%
18 IGG 3.00% 100.0%
19 UU. 2.94% 98.0%
20 BATS 2.92% 97.2%
21 SHEL 2.90% 96.4%
22 ADM 2.86% 95.3%
23 AV. 2.76% 91.9%
24 PHP 2.74% 91.3%
25 PSON 2.74% 91.1%
26 TSCO 2.62% 87.2%
27 LLOY 2.62% 87.1%
28 VOD 2.58% 85.7%
29 GSK 2.54% 84.6%
30 HLN 2.54% 84.6%
31 TATE 2.27% 75.6%
32 ULVR 2.15% 71.7%
33 BT.A 2.07% 69.0%
34 SGRO 1.93% 64.2%
35 RKT 1.69% 56.2%

Mean 2.86%

LGEN moved up from 25th place to 7th while TW. moved for 24th place to 5th. It goes without saying that the yield will have risen slightly as a result.

TJH


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