South32 had got very close to its trimming point last night, so I decided to trim it back by almost 25% this morning and reinvest the proceeds into IMB and TW., IMB having been reprieved by RIO's large dividend announcement and so those two were the top eleigible shares in my top-up table. S32 was sold at about 249p while I bought 20% more of IMB at about 1655p and 20% more of TW. at about 142p. My top-up table now looks like this:
Top-up Income Cost
Rank EPIC Rank EPIC % Income Rank Epic % Cost
1 RIO* 1 RIO 8.17% 1 IGG 4.66%
2 ADM* 2 BHP 7.58% 2 BP. 4.53%
3 IMB* 3 ADM 5.07% 3 BT.A 4.37%
4 LLOY 4 IMB 4.87% 4 AV. 4.37%
5 PHP 5 BATS 4.71% 5 VOD 4.11%
6 LGEN 6 LGEN 4.19% 6 PSON 4.07%
7 TW. 7 VOD 3.96% 7 SHEL 4.06%
8 ULVR 8 AV. 3.86% 8 LLOY 4.02%
9 SMDS 9 IGG 3.72% 9 MARS 3.98%
10 SSE 10 TW. 3.59% 10 MKS 3.67%
11 TATE 11 NG. 3.39% 11 GSK 3.51%
12 RKT 12 SSE 3.25% 12 PHP 3.48%
13 BATS* 13 BP. 3.24% 13 IMB 3.42%
14 IGG+ 14 S32 2.98% 14 TSCO 3.37%
15 PSON 15 BA. 2.88% 15 BATS 3.34%
16 VOD 16 BT.A 2.76% 16 BLND 3.31%
17 BLND 17 UU. 2.69% 17 BHP 3.21%
18 MKS# 18 TATE 2.46% 18 LGEN 3.12%
19 UU. 19 PHP 2.46% 19 SSE 2.99%
20 KGF 20 TSCO 2.20% 20 KGF 2.88%
As always, I disqualify any share which, if topped up by 20% would exceed either 5% of portfolio income(*) or 5% of portfolio cost(+). Accordingly the top 5 in the income rankings and the top 4 in cost rankings are disqualified. IMB regainsits disqualification as a result of the top-up, but LGENnow escapes, 4.40% being the cut-off point. Shares not paying a dividend(#) are also ruled out, i.e. MKS. The portfolio now looks like this:
Value
Rank EPIC Weight % Median
1 BHP 3.44% 119.4%
2 BP. 3.42% 118.5%
3 AV. 3.40% 117.8%
4 DGE 3.34% 116.0%
5 BA. 3.33% 115.5%
6 NG. 3.33% 115.4%
7 SHEL 3.32% 115.1%
8 S32 3.28% 113.7%
9 IMI 3.26% 113.1%
10 BATS 3.22% 111.6%
11 BT.A 3.18% 110.3%
12 VOD 3.12% 108.3%
13 TSCO 3.09% 107.3%
14 IGG 2.99% 103.7%
15 SGRO 2.95% 102.4%
16 GSK 2.95% 102.3%
17 UU. 2.90% 100.4%
18 SSE 2.89% 100.1%
19 LGEN 2.88% 99.9%
20 TW. 2.83% 98.1%
21 RIO 2.73% 94.7%
22 ADM 2.71% 94.0%
23 IMB 2.67% 92.5%
24 TATE 2.67% 92.5%
25 AZN 2.63% 91.3%
26 BLND 2.58% 89.4%
27 PSON 2.46% 85.2%
28 KGF 2.37% 82.3%
29 PHP 2.28% 79.1%
30 SMDS 2.16% 75.0%
31 CPG 2.05% 71.1%
32 ULVR 2.01% 69.7%
33 LLOY 2.00% 69.5%
34 MARS 1.99% 69.0%
35 RKT 1.90% 65.7%
36 MKS 1.67% 58.0%
S32 has fallen to 8th place, IMB has risen from 29th to 23rd and TW. has risen from 27th to 20th. LLOY and PHP are the next two in line for topping up. The change has been income beneficial.
TJH