https://www.lemonfool.co.uk/viewtopic.php?f=56&t=37586&p=561989#p561989
Includes ITs, ETFs, and OEICs in addition to the mostly Hyp-ish shares portfolio.
Individual Shares
All told I'm about 14k up on portfolio value, of which 8½k was top-ups - so 5½k up real. Could be a lot worse (and was earlier in the year).
Top ups
Accumulated divis bought the following
£1.5k of Ediston Property Investment in Jan 23 at 63.37p
£1k of Legal and General in Apr 23 at 247p
£1k of Legal and General in Aug 23 at 228p (different account)
£1k of Pan African Resources in May 23 at 13.25p
£1.5k of HSBC in Jun at 607p
£1.2k of HSBC in Aug at 636p (different account)
New Shares
I also bought one new holding
£1.46k of Glencore in Oct at 446p
I'd have preferred to buy in larger amounts to reduce cost % but with being restricted to only using divis within the ISAs I used a lower limit than usual if I felt it was the right time.
Shares sold
Nothing sold, but one tiny minnow left over from my earliest days was bought out at a loss - Hyve (used to be big in Russian trade exhibitions!)
Holdings now
As always - I regard SLF as a special case, so please no advice about too much insurance.
Value Div Fcst
Share Epic Sector %Total %Total Yield
Sun Life Financial Inc. SLF Life Insurance 13.22% 7.92% 3.50%
Legal and General Group LGEN Life Insurance 9.28% 12.87% 8.10%
Rio Tinto RIO Mining. 6.68% 6.63% 5.80%
Shell SHEL Oil & Gas Producers 6.62% 4.65% 4.10%
National Grid NG Multiutilities. 5.99% 5.33% 5.20%
HSBC Holdings HSBA Banks 5.82% 8.06% 8.10%
BAE Systems BA Aerospace & Defence 5.72% 2.74% 2.80%
Pan African Resources PAF Gold Mining 4.81% 5.02% 6.10%
Aviva AV Life Insurance 4.20% 5.53% 7.70%
GlaxoSmithKline GSK Pharmaceuticals & Biotechnology 4.11% 2.82% 4.00%
Greencoat UK Wind UKW IT - Renewable Energy Infrastructure 3.82% 3.34% 5.10%
Taylor Wimpey TW Household Goods & Home Construction 3.49% 3.82% 6.40%
Imperial Brands IMB Tobacco 3.16% 4.38% 8.10%
Polar Capital Holdings POLR General Financial 2.18% 3.72% 10.00%
Schroders SDR Financial Services 2.08% 1.78% 5.00%
Lloyds Banking Group LLOY Banks 2.01% 1.99% 5.80%
Regional REIT Limited RGL IT - Property - UK Commercial 1.97% 6.30% 18.70%
British Land Company BLND Retail REITs 1.81% 1.74% 5.60%
Ediston Property Investment Co EPIC IT - Property - UK Commercial 1.80% 2.22% 7.20%
SSE SSE Electricity 1.59% 1.41% 5.20%
Vistry Group VTY Household Goods & Home Construction 1.42% 1.12% 4.60%
Haleon HLN Consumer Healthcare 1.13% 0.14% 0.70%
Chesnara CSN Life Insurance 1.09% 1.74% 9.30%
Berkeley Group Holdings (The) BKG Household Goods & Home Construction 0.99% 0.68% 4.00%
Glencore GLEN Mining. 0.86% 0.84% 5.70%
Moneysupermarket.com Group MONY Media. 0.72% 0.53% 4.30%
Unilever ULVR Food Producers 0.65% 0.45% 4.00%
Vodafone Group VOD Mobile Telecommunications 0.64% 1.24% 11.40%
City of London Investment Grou CLIG Financial Administration 0.44% 0.67% 8.90%
MPAC MPAC Engineering 0.43% 0.00% 0.00%
Galliford Try GFRD Construction & Materials 0.29% 0.23% 4.70%
Marston's MARS Travel & Leisure 0.29% 0.00% 0.00%
Greencore Group GNC Food Producers 0.23% 0.00% 0.00%
Centrica CNA "Gas, Water & Multiutilities" 0.15% 0.07% 2.80%
Petrofac Ltd. PFC "Oil Equipment, Services & Distribution" 0.13% 0.00% 0.00%
Essentra ESNT Support Services 0.10% 0.03% 2.10%
Cairn Energy CNE Oil & Gas Producers 0.05% 0.00% 0.00%
Majestic Wine WINE Retailers 0.05% 0.00% 0.00%
Running Yield: 5.84%
Value Div
Sector %Total %Total
Life Insurance 27.79% 28.06%
Banks 7.82% 10.06%
Mining. 7.54% 7.47%
Oil & Gas Producers 6.67% 4.65%
Multiutilities. 5.99% 5.33%
Household Goods & Home Construction 5.90% 5.62%
Aerospace & Defence 5.72% 2.74%
Gold Mining 4.81% 5.02%
Pharmaceuticals & Biotechnology 4.11% 2.82%
IT - Renewable Energy Infrastructure 3.82% 3.34%
IT - Property - UK Commercial 3.77% 8.51%
Tobacco 3.16% 4.38%
General Financial 2.18% 3.72%
Financial Services 2.08% 1.78%
Retail REITs 1.81% 1.74%
Electricity 1.59% 1.41%
Consumer Healthcare 1.13% 0.14%
Food Producers 0.89% 0.45%
Media. 0.72% 0.53%
Mobile Telecommunications 0.64% 1.24%
Financial Administration 0.44% 0.67%
Engineering 0.43% 0.00%
Construction & Materials 0.29% 0.23%
Travel & Leisure 0.29% 0.00%
"Gas, Water & Multiutilities" 0.15% 0.07%
"Oil Equipment, Services & Distribution" 0.13% 0.00%
Support Services 0.10% 0.03%
Retailers 0.05% 0.00%
73% of it is in ISA's, unchanged from last year
Median - approx £3000
Mean - approx £4600
All the minnows at the bottom are likely to be sold this year if the recovery continues and makes it worth while - it just wasn't worth the hassle in the last couple of years and a couple of them such as Centrica have actually recovered (Glory be!) In fact everything from Unilever down could be up for consideration for various reasons. Sobering to think that Petrofac is now a minnow considering how much they cost me!
Dividends
£9,583 compared to £8746 in 2022
Improvements came mostly from EPIC, Galiford Try, Greencoat UK Wind, HSBC, IMB, L&G, Lloyds, NG, and PAF, although in some cases it was partly through having bought more of them.
Reductions occurred in Glaxo, RIO, RGL, and Vistry
Projection for 2024 is around 10,200 once I've found a replacement for EPIC which is being wound up and the proceeds returned to investors.
Overall Capital Performance
Interest rates on top of the continuing Ukraine war have produced a rollercoaster year - good in February, dreadful in the summer and autumn and now a proper Santa rally. The old adage about selling up in May could have been replaced by March and then buying back in in August at fire sale levels. IF the current recovery is maintained then my thoughts are along the following lines
Winners
BA, SHEL, plus smaller holdings in BKG, GFRD, MONY.
Unusually I'm considering selling some of them. BA has been the star and you start wondering whether to take profit now that the yield on offer elsewhere is so comparitively attractive. Berkely is a smallish holding and I'm a bit fed up with never knowing if or how much divi they might pay or how the share price will yo-yo next. MONY is unsheltered so I might take the capital gain. GFRD is now a small holding after the sale of it's housing section created the Vistry holding so I'll watch the unexpectedly good recovery to see the best time to sell it off (unless it starts to look good enough to add to).
Recovering winners
Legal & General is gradually rising back as we all expected it would and the yield is magnificent. If I didn't already have so much I'd have bought even more in the summer.
RIO is pretty much back where it was after a wild year. If I'd had more accumulated divis I'd have bought some more.
HSBC is finally back to something like it should be after plumbing the depths in the last couple of years. However it's sobering to consider it's only just back to roughly where it was 10 years ago.
PAF has had a strange year - over 20p in May it dropped to 12 by July and is now back up to 17p. It has strong fundamentals and a ludicrously low PE of 3 the last time I checked. Whether it's held back by South African politics or the conspiracy theories of market manipulation that the posters on the ADVFN boards love to complain about is unclear, but it really should be about double the current price.
Not quite recoverers yet
BLND and TW have only recently begun to show some signs of recovery. Still a long way down on the former but very hopeful on the latter.
Losers, oddities, and serial disappointers
Losers - but light at the end of the tunnel
RGL suffered very badly from the interest rates which hit many REITs. Still far too low but some positive signs at last.
Losers - where the light appears to be a bloody great train
VOD continues to do its dying swan routine, while Petrofac looked on the verge of total collapse until a recent slight revival. Not much hope though. Marstons seems a lost cause too, and Naked Wine is much the same.
Oddities
All financials this time. For a company with a solid reputation, SDR has underperformed in the last couple of years, as has POLR. A third financial - CLIG plummeted in October and requires investigation before I decide what to do about it. Fortunately it was a pretty small experiment.
Serial disappointers
Price wise, Aviva keeps looking like it's about to break upwards but can't seem to maintain anything above 440p and is back slightly lower than a year ago. At least the divi is good and there's talk of a special, but the share price now seems to suffer from a baked-in scepticism.
Lloyds - there's talk, oh god such endless talk, by so-called financial commentators, but never any real progress despite the mis-selling scandals receding. When interest rates were rising they all reckoned that would benefit banks, especially them, when it failed to rise it was "oh but the increased mortgage defaults - it'll be better when rates fall." Black horses seem almost as nasty as black swans.
Proper Steady-Eddies
NG remains the standout here, but I should also include SLF which keeps on increasing its dividend (pity about the witholding tax) and maybe GSK could be added as well if it ever resumes divi growth.
Oddly the one we all used to think was steady was Unilever, but ever since they dropped the plan to go fully Dutch and went fully British instead they been faltering. I may well ditch them on any recovery.
ETFs
I topped up £1.8k of VWRL in Nov at 8881p - the recent rally has taken it up to 9300p. Looking at my earliest buy in 2017 I see I'm up 54%. Probably a lesson there. Some of my cash pile may head that way.
ITs
I topped up £2k of FCIT in Mar 23 at 906p
and bought a new though small exploratory holding of
£1k of NextEnergy Solar IT in Apr 23 at 107p
Value Div Fcst
Share Epic Sector %Total %Total Yield
F and C Investment Trust FCIT IT - Global. 27.86% 9.36% 1.40%
JPMorgan Global Growth & Incom JGGI IT - Global Equity Income 21.47% 17.53% 3.40%
Henderson Far East Income Ltd. HFEL IT - Asia Pacific Income 14.39% 39.73% 11.50%
Merchants Trust MRCH IT - UK Equity Income 8.69% 10.43% 5.00%
BlackRock Greater Europe Inv T BRGE IT - Europe. 8.29% 2.39% 1.20%
BlackRock Sustainable American BRSA IT - North America 6.80% 6.85% 4.20%
TR Property Inv Trust TRY IT - Property Securities 4.43% 4.78% 4.50%
Murray International Trust MYI IT - Global Equity Income 4.02% 4.25% 4.40%
JPMorgan Japanese Inv Trust JFJ IT - Japan. 2.04% 0.64% 1.30%
NextEnergy Solar Fund Limited NESF IT - Renewable Energy Infrastructure 2.03% 4.04% 8.30%
Running Yield: 4.16%
Value Div
Sector %Total %Total
IT - Global. 27.86% 9.36%
IT - Global Equity Income 25.49% 21.78%
IT - Asia Pacific Income 14.39% 39.73%
IT - UK Equity Income 8.69% 10.43%
IT - Europe. 8.29% 2.39%
IT - North America 6.80% 6.85%
IT - Property Securities 4.43% 4.78%
IT - Japan. 2.04% 0.64%
IT - Renewable Energy Infrastructure 2.03% 4.04%
ITs had a difficult year and if I'd been writing this in November it would look pretty awful.
HFEL continues to lose capital value while churning out dividends - was 270p a year ao and is now 210p. I'm 6% down on it overall after accounting for the dividends and have considered selling - I'll watch closely over the next few months for any recovery.
Thank heavens for JGGI which ignored the summer and autumn carnage and continued to rise from around 425 to around 500. In contrast BRSA has had a poor year by its standards.
The normally robust and reliable FCIT suffered over the summer along with many others, but has now returned to healthier levels so my top-up was reasonably well timed, though if I'd waited I could have scored a real bargain later in the summer.
MYI after a good recovery last year had a plunge in the late autumn and is just recovering now.
Property and European focused ITs were hit hard by Ukraine in 2022 and until the recent upturn have struggled to recover. My 2021 buys of TRY and BRGE are both still in the red but are looking a lot better than a couple of months ago. If interest rates do fall then there's hope of full recovery there unless Russia escalates.
NESF proved to very badly timed as renewables suddenly went out of fashion and it dropped to around 77p at one point. However it's recovered to around 93p so with the yield still attractive I might dip a second toe.
JFJ was my speculative gamble on growth just as growth exited pursued by bears - a bit like SMT. It's recovered slighty this year but not much.
Dividends on the ITs were up slightly from £1585 in 2022 to £1778.
OEICs
Both of these dropped alarminglly in March and stuttered along for most of the year until the recent recovery thankfully pushed them back up to around their peaks in late 2021. One is up 68% over 13 years and the other up 24% over 5½ years. Neither spectacular but of course they did both run into Brexit and Covid followed by Ukraine and Liz Truss. Hard to tell which of those four was the scariest.
Property
My late dad’s old house remains rented out, and generated just slightly less than the state pension this year after some repairs and replacements.
My Edinburgh house is still looked after by my godson but will be due for redecorating sometime soon.
My Slovenian house is getting 30k of work done on it - new bathroom, kitchen, staircase and windows but that's behind schedule and on hold over the winter after my builder fell off a ladder at his own house 3 weeks after recovering from pneumonia.
(My own health has improved as the rheumatic condition has receded although my knees are still a bit dodgy. I'm hoping to put off any operations if the surrounding muscles continue to strengthen.)
Pensions
Much the same as last year. I'm drawing the state pension but as I'm still doing some part-time consultancy work for my oldest client I haven’t needed to start drawing down from my personal pensions yet. They're worth about 200k - would have been higher were it not for Truss of course.
Cash
The Slovenian house refurb is using up some of it, and a new car will be needed soon, but I still have too much cash uninvested, which I'll attend to this coming year now that I feel sufficiently recovered to be sure I'm thinking straight on the bigger decisions.
Overall conclusion
Still similar to last year:
Property 39%
Cash 14.5%
Pension pot 15.5%
Shares 13.2%
OEICs 11.3%
ITs and ETFs 3.2%
Only the occasional disaster like Petrofac, otherwise I'm quite comfortable and things seem to be going to plan apart from maybe not spending enough. My health glitch has reduced the scope for spending on travel and dining out for the last two years so I've spent it on guitars instead! And dentist bills, and house refurb.
Let's hope that we all elect some responsible adults this year and we have a rather more boring time of things! Yeah I'm not holding my breath either!
As always many thanks to everyone who's engaged here and made their experience available to us all.
cheers
Spiderbill