TJH Portfolio adjustment

[tjh290633]

Today, thanks to incoming dividends, I have added 20% to my holding of Aviva (AV.) at 446p, it being the highest ranking eligible share for topping up. This moves it from 25th ranked by weight to 5th, which is an indication of how closely the shares are now grouped about the median weight.

My top-up table now looks like this:

Top-up          Income                     Cost                
Rank     EPIC   Rank     EPIC   % Income   Rank   Epic   % Cost
     1   VOD+        1   BHP       7.28%      1   VOD     4.69%
     2   BT.A+       2   RIO       5.41%      2   IGG     4.63%
     3   RIO*        3   S32       5.31%      3   PHP     4.53%
     4   ADM*        4   TW.       4.91%      4   LLOY    4.42%
     5   PHP+        5   LGEN      4.59%      5   BLND    4.37%
     6   BATS        6   ADM       4.54%      6   BT.A    4.34%
     7   TSCO        7   IMB       4.30%      7   AV.     4.04%
     8   RKT         8   VOD       4.14%      8   TW.     4.04%
     9   ULVR        9   BATS      4.09%      9   LGEN    3.83%
    10   LLOY+      10   AV.       3.58%     10   WDS     3.60%
    11   SGRO       11   IGG       3.33%     11   GSK     3.42%
    12   IGG+       12   BLND      3.21%     12   IMB     3.39%
    13   IMB*       13   PHP       3.09%     13   BP.     3.38%
    14   LGEN*      14   NG.       3.08%     14   TSCO    3.34%
    15   GSK        15   SSE       3.07%     15   BATS    3.32%
    16   SSE        16   SMDS      2.85%     16   KGF     3.22%
    17   BHP*       17   KGF       2.72%     17   PSON    3.03%
    18   TATE       18   WDS       2.71%     18   SHEL    3.02%
    19   WDS        19   BP.       2.67%     19   SSE     2.97%
    20   UU.        20   BT.A      2.46%     20   HLN     2.77%

As always I disqualify any share which if added to by 20%, would provide more than 5% of the dividend income(*) or account for more than 5% of portfolio cost(+). I no longer hold any share not paying a dividend. BATS therefore ranks highest for topping up at the moment, actually level with TSCO, but has the higher yield. That looks like being the end of March before the next opportunity.

My portfolio now looks like this:

Value                           
Rank    EPIC   Weight   % Median
    1   BHP     3.78%     128.1%
    2   S32     3.30%     111.7%
    3   TW.     3.29%     111.3%
    4   SMDS    3.20%     108.4%
    5   AV.     3.20%     108.3%
    6   BP.     3.20%     108.3%
    7   DGE     3.19%     108.1%
    8   BLND    3.16%     107.1%
    9   IMI     3.15%     106.9%
   10   LGEN    3.15%     106.8%
   11   BA.     3.12%     105.6%
   12   IMB     3.11%     105.4%
   13   NG.     3.11%     105.2%
   14   KGF     3.08%     104.3%
   15   AZN     3.07%     103.8%
   16   SSE     3.02%     102.3%
   17   IGG     2.99%     101.3%
   18   WDS     2.95%     100.0%
   19   ADM     2.94%      99.7%
   20   BATS    2.93%      99.2%
   21   UU.     2.89%      98.1%
   22   SHEL    2.89%      97.9%
   23   RIO     2.85%      96.7%
   24   PHP     2.70%      91.6%
   25   PSON    2.69%      91.2%
   26   GSK     2.60%      88.0%
   27   HLN     2.59%      87.7%
   28   LLOY    2.58%      87.3%
   29   TSCO    2.58%      87.3%
   30   VOD     2.47%      83.6%
   31   TATE    2.33%      78.8%
   32   ULVR    2.18%      73.7%
   33   BT.A    2.09%      70.6%
   34   SGRO    1.97%      66.6%
   35   RKT     1.68%      57.1%
                                
        Mean    2.86%

The close packing of values is evident, in that 20% of the median spans positions 4 to 25. Soon the lightest weight holdings will be eligible for topping up.

TJH

[tjh290633]

Once again time to reinvest accumulated dividends, Admiral (ADM) being the most eligible holding and was topped up by 20% at 2046.5p. My top up table looks like this tonight:

Top-up          Income                     Cost                
Rank     EPIC   Rank     EPIC   % Income   Rank   Epic   % Cost
     1   VOD*        1   BHP       6.15%      1   VOD     4.69%
     2   WDS+        2   WDS       5.13%      2   IGG     4.63%
     3   BATS+       3   TW.       5.03%      3   PHP     4.53%
     4   PHP*        4   ADM       4.77%      4   LLOY    4.42%
     5   BT.A*       5   S32       4.63%      5   BLND    4.37%
     6   RIO         6   LGEN      4.53%      6   BT.A    4.34%
     7   LLOY*       7   AV.       4.38%      7   AV.     4.04%
     8   IGG*        8   BATS      4.28%      8   TW.     4.04%
     9   SGRO        9   IMB       4.24%      9   LGEN    3.83%
    10   ULVR       10   VOD       4.09%     10   WDS     3.60%
    11   AV.+       11   RIO       3.79%     11   GSK     3.42%
    12   BLND*      12   IGG       3.29%     12   IMB     3.39%
    13   S32+       13   BLND      3.17%     13   BP.     3.38%
    14   RKT        14   PHP       3.06%     14   TSCO    3.34%
    15   LGEN+      15   NG.       3.04%     15   BATS    3.32%
    16   IMB+       16   SSE       3.03%     16   KGF     3.22%
    17   SMDS       17   SMDS      2.81%     17   PSON    3.03%
    18   BHP+       18   KGF       2.69%     18   SHEL    3.02%
    19   GSK        19   BP.       2.64%     19   SSE     2.97%
    20   TATE       20   BT.A      2.43%     20   HLN     2.77%

As always I disqualify any share which, if topped up by 20% would exceed 5% of either share of income(+) or share of cost (*). That efectively imposes a cut-off point of 4.2% of either parameter. ADM has now moved onto the naughty step and RIO is the current most eligible share. Probably mid-May before the next top-up.

My postfolio now looks like this:

Value                
Rank    EPIC   Weight
    1   BA.     3.81%
    2   BP.     3.66%
    3   BHP     3.58%
    4   AZN     3.36%
    5   NG.     3.36%
    6   DGE     3.33%
    7   TW.     3.29%
    8   ADM     3.25%
    9   IMI     3.23%
   10   SSE     3.16%
   11   S32     3.01%
   12   LGEN    3.01%
   13   IMB     2.99%
   14   AV.     2.98%
   15   SHEL    2.98%
   16   KGF     2.94%
   17   UU.     2.88%
   18   SMDS    2.87%
   19   TSCO    2.84%
   20   BLND    2.78%
   21   BATS    2.78%
   22   WDS     2.78%
   23   IGG     2.67%
   24   GSK     2.63%
   25   RIO     2.62%
   26   HLN     2.60%
   27   VOD     2.50%
   28   PSON    2.50%
   29   PHP     2.46%
   30   BT.A    2.42%
   31   LLOY    2.42%
   32   TATE    2.38%
   33   ULVR    2.28%
   34   RKT     1.86%
   35   SGRO    1.79%

ADM moved up from 22nd to 8th postion as a result. Weightings are very closely packed around the median. Just a couple of outliers.

TJH

[tjh290633]

I had been waiting for dividends to accumulate sufficiently to top up RIO, but its price oblligingly fell yesterday to allow me to do the top-up this morning. Added 20% at 5062.4p. My top-up table now looks like this:

Top-up          Income                     Cost                
Rank     EPIC   Rank     EPIC   % Income   Rank   Epic   % Cost
     1   WDS*        1   BHP       6.05%      1   VOD     4.57%
     2   VOD+        2   WDS       6.04%      2   IGG     4.51%
     3   S32*        3   TW.       4.95%      3   PHP     4.42%
     4   PHP+        4   ADM       4.69%      4   LLOY    4.31%
     5   LLOY+       5   S32       4.55%      5   BLND    4.26%
     6   BT.A+       6   RIO       4.48%      6   BT.A    4.23%
     7   BATS*       7   LGEN      4.45%      7   AV.     3.94%
     8   BLND+       8   AV.       4.31%      8   TW.     3.94%
     9   RIO*        9   BATS      4.21%      9   LGEN    3.73%
    10   SGRO       10   IMB       4.17%     10   ADM     3.71%
    11   BHP*       11   VOD       4.08%     11   WDS     3.51%
    12   IGG+       12   IGG       3.23%     12   GSK     3.34%
    13   ULVR       13   BLND      3.12%     13   IMB     3.31%
    14   RKT        14   PHP       3.00%     14   BP.     3.29%
    15   LGEN*      15   NG.       2.99%     15   TSCO    3.26%
    16   SMDS       16   SSE       2.98%     16   BATS    3.24%
    17   AV.*       17   SMDS      2.77%     17   KGF     3.14%
    18   IMB        18   KGF       2.64%     18   PSON    2.96%
    19   GSK        19   BP.       2.59%     19   SHEL    2.95%
    20   KGF        20   BT.A      2.39%     20   SSE     2.90%

As always I disqualify any share which would provide more than 5% on dividend income, if topped up by 20% (*) and likewiase if its share of portfolio cost would exceed 5% (+). Consequently RIO now becomes disqualified again. SGRO now ranks first for top-up and is my lowest weight share, so may get a bigger top-up.

My portfolio now looks like this:

Value                           
Rank    EPIC   Weight   % Median
    1   BA.     3.86%     137.4%
    2   AZN     3.56%     126.9%
    3   BP.     3.54%     126.0%
    4   ADM     3.48%     124.0%
    5   NG.     3.45%     122.7%
    6   DGE     3.39%     120.6%
    7   TW.     3.29%     117.1%
    8   IMI     3.21%     114.3%
    9   BHP     3.20%     113.9%
   10   SSE     3.18%     113.2%
   11   IMB     3.03%     108.0%
   12   AV.     3.01%     107.1%
   13   LGEN    2.97%     105.6%
   14   UU.     2.95%     105.0%
   15   SHEL    2.92%     104.1%
   16   TSCO    2.91%     103.6%
   17   RIO     2.87%     102.4%
   18   KGF     2.81%     100.0%
   19   BATS    2.80%      99.6%
   20   SMDS    2.76%      98.4%
   21   IGG     2.76%      98.2%
   22   HLN     2.74%      97.6%
   23   S32     2.71%      96.6%
   24   GSK     2.67%      95.0%
   25   BLND    2.66%      94.7%
   26   WDS     2.59%      92.1%
   27   VOD     2.48%      88.5%
   28   PSON    2.47%      88.0%
   29   PHP     2.46%      87.5%
   30   BT.A    2.46%      87.5%
   31   TATE    2.42%      86.3%
   32   LLOY    2.35%      83.8%
   33   ULVR    2.31%      82.2%
   34   RKT     1.89%      67.4%
   35   SGRO    1.83%      65.0%
                                
        Mean    2.86%

RIO was in 27th position and has now moved just above the median to 17th position. Next top-up could be mid-May or early June.

TJH

[tjh290633]

For some reason receipt of the PID from PHP is later than the ordinary dividend, which means that I had to trim back my top-up of BATS this morning to 19% extra. I coukld have waited the estra day, but it hardly seemed worthwhile. Added at 2675p, taking BATS back into disqualification after a brief emergence. My top-up table now looks like this:

Top-up          Income                     Cost                
Rank     EPIC   Rank     EPIC   % Income   Rank   Epic   % Cost
     1   VOD+        1   BHP       5.97%      1   VOD     4.54%
     2   WDS*        2   WDS       5.96%      2   IGG     4.48%
     3   S32*        3   BATS      4.95%      3   PHP     4.39%
     4   BLND+       4   TW.       4.89%      4   LLOY    4.28%
     5   BT.A+       5   ADM       4.63%      5   BLND    4.24%
     6   LLOY+       6   S32       4.49%      6   BT.A    4.20%
     7   PHP+        7   RIO       4.42%      7   AV.     3.92%
     8   IGG+        8   LGEN      4.40%      8   TW.     3.91%
     9   IMB         9   AV.       4.25%      9   BATS    3.87%
    10   RIO*       10   IMB       4.14%     10   LGEN    3.71%
    11   SGRO       11   VOD       4.12%     11   ADM     3.69%
    12   KGF        12   IGG       3.19%     12   WDS     3.49%
    13   LGEN*      13   NG.       3.17%     13   GSK     3.32%
    14   ULVR       14   BLND      3.01%     14   IMB     3.29%
    15   BATS*      15   PHP       2.97%     15   BP.     3.27%
    16   RKT        16   SSE       2.94%     16   TSCO    3.24%
    17   BHP*       17   SMDS      2.73%     17   KGF     3.12%
    18   AV.*       18   BP.       2.68%     18   PSON    2.94%
    19   GSK        19   KGF       2.61%     19   SHEL    2.93%
    20   SMDS       20   BT.A      2.36%     20   SSE     2.88%

As always, I disqualify any share which, if topped up by 20%, would exceed my limit of 5% of either share of income (*) or share of portfolio cost (+). I have no shares not paying dividends. As you can see, BATS is just short of the limit and the first 9 ranked by share of income are disqualified. This means that IMB are currently next in line for topping up, but things can change as results are announced.

My portfolio now looks like this, ranked by weight:

Value                           
Rank    EPIC   Weight   % Median
    1   BA.     3.77%     132.1%
    2   AZN     3.57%     124.8%
    3   ADM     3.55%     124.3%
    4   IMI     3.50%     122.6%
    5   TW.     3.45%     120.7%
    6   NG.     3.38%     118.2%
    7   BHP     3.33%     116.6%
    8   SSE     3.30%     115.4%
    9   BP.     3.30%     115.4%
   10   DGE     3.26%     114.0%
   11   BATS    3.07%     107.5%
   12   AV.     3.04%     106.3%
   13   SHEL    2.97%     104.1%
   14   LGEN    2.96%     103.6%
   15   UU.     2.88%     100.8%
   16   RIO     2.88%     100.7%
   17   SMDS    2.87%     100.4%
   18   TSCO    2.86%     100.0%
   19   IMB     2.79%      97.7%
   20   S32     2.77%      97.0%
   21   HLN     2.73%      95.5%
   22   WDS     2.72%      95.1%
   23   KGF     2.71%      94.8%
   24   IGG     2.70%      94.6%
   25   GSK     2.59%      90.8%
   26   PHP     2.56%      89.6%
   27   BLND    2.53%      88.6%
   28   PSON    2.47%      86.4%
   29   TATE    2.38%      83.4%
   30   BT.A    2.38%      83.2%
   31   LLOY    2.34%      81.8%
   32   VOD     2.32%      81.1%
   33   ULVR    2.29%      80.1%
   34   RKT     1.94%      67.9%
   35   SGRO    1.88%      65.8%
                                
        Mean    2.86%

BATS has moved up from 25th to 11th position.

TJH

[tjh290633]

As indicated in viewtopic.php?p=597722#p597722 I have now topped up my holding of DS Smith (SMDS) by 20% at 265.5p. My top-up table now looks like this:

Top-up          Income                     Cost                
Rank     EPIC   Rank     EPIC   % Income   Rank   Epic   % Cost
     1   VOD+        1   BHP       5.90%      1   VOD     4.52%
     2   S32*        2   WDS       5.89%      2   IGG     4.46%
     3   BLND+       3   BATS      4.89%      3   PHP     4.37%
     4   WDS*        4   TW.       4.83%      4   LLOY    4.26%
     5   BT.A        5   ADM       4.58%      5   BLND    4.21%
     6   PHP+        6   S32       4.44%      6   BT.A    4.18%
     7   LLOY+       7   RIO       4.37%      7   AV.     3.89%
     8   TW.*        8   LGEN      4.34%      8   TW.     3.89%
     9   SGRO        9   AV.       4.20%      9   BATS    3.84%
    10   IGG+       10   IMB       4.08%     10   LGEN    3.68%
    11   LGEN*      11   VOD       4.07%     11   ADM     3.66%
    12   IMB*       12   SMDS      3.60%     12   WDS     3.46%
    13   KGF        13   IGG       3.15%     13   GSK     3.30%
    14   RKT        14   SSE       3.15%     14   IMB     3.26%
    15   AV.        15   NG.       3.13%     15   BP.     3.25%
    16   BATS*      16   BLND      2.97%     16   TSCO    3.22%
    17   RIO*       17   PHP       2.93%     17   KGF     3.10%
    18   BHP*       18   BP.       2.65%     18   PSON    2.92%
    19   ULVR       19   KGF       2.58%     19   SHEL    2.91%
    20   GSK        20   BT.A      2.33%     20   SSE     2.86%

As is my custom, I disqualify any share which, if topped up by 20%, would provide more than 5% of portfolio incomr (*) or would have cost more than 5% of total portfolio cost (+). This latest trade has released BT.A from its shackles on portfolio cost and that is now leading the ranks of eligible shares. Aviva (AV.) has also been freed on grounds of share of income, but is way down the list. It looks like early August for the next top-up, and things can change in that time.

My portfolio now looks like this:

Value                           
Rank    EPIC   Weight   % Median
    1   BA.     3.82%     129.9%
    2   AZN     3.60%     122.7%
    3   IMI     3.60%     122.7%
    4   ADM     3.55%     120.9%
    5   BHP     3.50%     119.2%
    6   SSE     3.42%     116.6%
    7   NG.     3.38%     115.0%
    8   BP.     3.31%     112.7%
    9   DGE     3.22%     109.8%
   10   BATS    3.20%     109.0%
   11   RIO     3.07%     104.6%
   12   SMDS    3.06%     104.1%
   13   SHEL    3.04%     103.6%
   14   AV.     3.01%     102.7%
   15   LGEN    2.98%     101.5%
   16   TW.     2.98%     101.4%
   17   IMB     2.94%     100.1%
   18   UU.     2.94%     100.0%
   19   TSCO    2.83%      96.4%
   20   HLN     2.79%      94.9%
   21   WDS     2.78%      94.6%
   22   GSK     2.76%      93.9%
   23   IGG     2.75%      93.7%
   24   KGF     2.69%      91.7%
   25   S32     2.64%      89.8%
   26   PSON    2.60%      88.4%
   27   PHP     2.36%      80.2%
   28   TATE    2.33%      79.4%
   29   ULVR    2.33%      79.3%
   30   LLOY    2.25%      76.6%
   31   BLND    2.25%      76.5%
   32   BT.A    2.22%      75.6%
   33   VOD     2.15%      73.3%
   34   RKT     1.93%      65.7%
   35   SGRO    1.74%      59.2%
                                
        Mean    2.86%

SMDS has moved up from 26th to 12th position when ranked by weight.

TJH

[tmiuatga]

Happy birthday TJH and thanks for your wisdom and knowledge down through the years.

[tjh290633]

Thank you for the kind thoughts.

TJH

[mc2fool]

Thank you for the kind thoughts.

TJH

Now I am sure I remember you saying (possibly on TMF) that the numbers in your username were not your birthday ... or has my memory failed me?

[monabri]

Thank you for the kind thoughts.

TJH

Now I am sure I remember you saying (possibly on TMF) that the numbers in your username were not your birthday ... or has my memory failed me?

no...

viewtopic.php?p=403999#p403999

[tjh290633]

Thank you for the kind thoughts.

TJH

Now I am sure I remember you saying (possibly on TMF) that the numbers in your username were not your birthday ... or has my memory failed me?

They are not the date on my birth certificate. That, however, is not the date on which I was born. The numbers are the correct date.

TJH

[Salimandre]

In which case, Happy Birthday! and many thanks for all your work sharing your thoughts on TLD (and TMF before)
hope you have a lovely day
xx

[tjh290633]

I had been sitting on accumulated dividends for too long, so topped up BT.A, SGRO and ULVR by 20% each today. BT.A at 114.8p, SGRO at 711.4p and ULVR at 3,919.5p. They were the top eligible shares in my top-up table, which now looks like this:

Top-up          Income                     Cost                
Rank     EPIC   Rank     EPIC   % Income   Rank   Epic   % Cost
     1   VOD*+       1   WDS       5.39%      1   BT.A    4.63%
     2   BLND        2   TW.       5.26%      2   VOD     4.47%
     3   PHP+        3   BATS      5.24%      3   IGG     4.41%
     4   BT.A+       4   LGEN      4.72%      4   PHP     4.33%
     5   LLOY+       5   AV.       4.62%      5   LLOY    4.22%
     6   IGG+        6   IMB       4.38%      6   BLND    4.17%
     7   IMB*        7   VOD       4.31%      7   AV.     3.86%
     8   LGEN*       8   BHP       3.87%      8   TW.     3.85%
     9   WDS*        9   SMDS      3.86%      9   BATS    3.81%
    10   BATS*      10   RIO       3.71%     10   LGEN    3.65%
    11   SGRO       11   IGG       3.43%     11   ADM     3.63%
    12   KGF        12   SSE       3.37%     12   WDS     3.43%
    13   RKT        13   NG.       3.35%     13   GSK     3.27%
    14   SSE        14   ADM       3.22%     14   IMB     3.23%
    15   UU.        15   PHP       3.21%     15   BP.     3.22%
    16   TATE       16   BLND      3.18%     16   TSCO    3.19%
    17   AV.*       17   BT.A      2.99%     17   KGF     3.07%
    18   S32        18   BP.       2.91%     18   PSON    2.89%
    19   RIO        19   KGF       2.76%     19   SHEL    2.89%
    20   TW.*       20   LLOY      2.49%     20   SSE     2.83%

As always, I disqualify any share which, if topped up by 20% would exceed my arbitrary limits of 5% of either share of income(*) or share of portfolio cost(+). The changes have released BLND from the cost barrier BT.A has gone back behind it.

My portfolio now looks like this:

Value                           
Rank    EPIC   Weight   % Median
    1   BA.     4.11%     144.1%
    2   ADM     3.93%     137.6%
    3   BP.     3.74%     130.8%
    4   SHEL    3.43%     120.1%
    5   BHP     3.39%     118.9%
    6   AZN     3.38%     118.4%
    7   TW.     3.32%     116.2%
    8   IMI     3.31%     116.0%
    9   SMDS    3.14%     109.9%
   10   AV.     3.09%     108.3%
   11   TSCO    3.08%     107.9%
   12   NG.     3.04%     106.6%
   13   BATS    3.02%     105.6%
   14   RIO     3.01%     105.6%
   15   DGE     2.94%     102.9%
   16   GSK     2.88%     100.9%
   17   WDS     2.87%     100.5%
   18   HLN     2.86%     100.0%
   19   LGEN    2.83%      99.0%
   20   SSE     2.83%      99.0%
   21   IMB     2.79%      97.6%
   22   PSON    2.76%      96.7%
   23   UU.     2.72%      95.3%
   24   ULVR    2.63%      92.3%
   25   IGG     2.55%      89.3%
   26   KGF     2.54%      88.9%
   27   BT.A    2.38%      83.2%
   28   S32     2.36%      82.7%
   29   PHP     2.32%      81.3%
   30   BLND    2.31%      81.0%
   31   VOD     2.22%      77.9%
   32   LLOY    2.21%      77.3%
   33   TATE    2.13%      74.4%
   34   SGRO    2.08%      72.9%
   35   RKT     1.81%      63.3%
                                
        Mean    2.86%

BT.A has moved up from 33rd to 27th position, SGRO up one place from last and ULVR up from 30th to 24th position. Notable that BA. is only 6% of my threshold for top slicing at 1.5 times the median holding weight. The latest potential candidates for topping up lie well down in the rankings.

TJH

[tjh290633]

Unexpectedly BAE Systems has been moving up as the market fell, and last night went past my self imposed weight limit of 150% of the median holding value. Accordingly I top sliced my holding by 25% at £10.706 this morning. This left a fair bit of cash, with accumulated dividends, which was used to top up the 3 most eligible shares, namely British Land (BLND), Kingfisher (KGF) and Segro (SGRO) by 25% each. I almost had enough money to top up Reckitt Benckiser, but need another postal order to do so. My top-up ranking table now looks like this:

Top-up          Income                     Cost                
Rank     EPIC   Rank     EPIC   % Income   Rank   Epic   % Cost
     1   VOD*+       1   WDS       5.34%      1   BLND    4.67%
     2   PHP+        2   TW.       5.21%      2   BT.A    4.57%
     3   BT.A+       3   BATS      5.19%      3   VOD     4.42%
     4   LGEN*       4   LGEN      4.68%      4   IGG     4.36%
     5   BLND+       5   AV.       4.57%      5   PHP     4.27%
     6   IGG+        6   IMB       4.33%      6   LLOY    4.16%
     7   WDS*        7   VOD       4.27%      7   AV.     3.81%
     8   IMB*        8   BHP       3.84%      8   TW.     3.80%
     9   LLOY+       9   SMDS      3.82%      9   BATS    3.76%
    10   BATS*      10   BLND      3.78%     10   KGF     3.61%
    11   TW.*       11   RIO       3.68%     11   LGEN    3.60%
    12   RKT        12   IGG       3.40%     12   ADM     3.58%
    13   S32        13   SSE       3.34%     13   WDS     3.39%
    14   TATE       14   NG.       3.32%     14   GSK     3.23%
    15   KGF        15   KGF       3.28%     15   IMB     3.19%
    16   SGRO       16   ADM       3.19%     16   BP.     3.18%
    17   AV.*       17   PHP       3.18%     17   TSCO    3.15%
    18   SSE        18   BT.A      2.97%     18   PSON    2.86%
    19   SMDS       19   BP.       2.89%     19   SHEL    2.85%
    20   RIO        20   LLOY      2.47%     20   SSE     2.80%

As alwyas I disqualify any share which, if topped up by 20% would exceed 5% of either share of dividend income(*) or of portfolio cost(+). Consequently the top 11 in my table are disqualified as indicated. This put RKT in pole position for topping up, but things can change.

My portfolio now looks like this:

Value                           
Rank    EPIC   Weight   % Median
    1   ADM     4.06%     142.1%
    2   BP.     3.85%     134.6%
    3   SHEL    3.56%     124.6%
    4   BHP     3.37%     117.8%
    5   IMI     3.25%     113.7%
    6   BA.     3.25%     113.6%
    7   AZN     3.17%     110.8%
    8   NG.     3.10%     108.2%
    9   AV.     3.08%     107.6%
   10   TSCO    3.08%     107.6%
   11   TW.     3.07%     107.4%
   12   SMDS    3.04%     106.3%
   13   RIO     3.01%     105.1%
   14   DGE     2.99%     104.6%
   15   BATS    2.97%     103.8%
   16   UU.     2.96%     103.4%
   17   SSE     2.92%     102.1%
   18   KGF     2.86%     100.0%
   19   WDS     2.86%     100.0%
   20   HLN     2.85%      99.5%
   21   PSON    2.83%      99.1%
   22   IMB     2.83%      98.9%
   23   GSK     2.81%      98.4%
   24   LGEN    2.77%      96.7%
   25   ULVR    2.71%      94.7%
   26   BLND    2.68%      93.8%
   27   IGG     2.52%      88.2%
   28   SGRO    2.45%      85.8%
   29   S32     2.31%      80.7%
   30   BT.A    2.30%      80.4%
   31   VOD     2.20%      77.0%
   32   PHP     2.19%      76.6%
   33   LLOY    2.19%      76.5%
   34   TATE    2.00%      69.9%
   35   RKT     1.88%      65.7%
                                
        Mean    2.86%

BA. has fallen to 6th place, BLND has risen from 29th to 26th place, KGF from 27th to 18th and SGRO from 33rd to 28th. The yields on all the new shares are higher than that on BA., so the move should be income enhancing. The portfolio yield is now 5,4% on an historical basis. Admiral is quite high and could be the next to be trimmed back.

TJH

[kempiejon]

Unexpectedly BAE Systems has been moving up as the market fell,

All that war etc makes that move up pretty expected to me. My BAe is also pregnant with gains but i know what you mean against the wider falling tide. Not been high yielding for a while, unfortunately on the profit front, bought by me when my average size was a fair bit smaller and never topped up because the yield never came into range again for my HYP. They've churned out an increasing income for the past 15 years I've held, which is nice.
Early on in my investing I quoted the maxim Booze, Baccy and Bombs. There's cash in killing.

[tjh290633]

Accumulated dividends have allowed me to top up LLOY by 20% this morning at 42.6p. As a result, my top-up table now looks like this:

Top-up          Income                     Cost                
Rank     EPIC   Rank     EPIC   % Income   Rank   Epic   % Cost
     1   VOD+        1   WDS       5.34%      1   LLOY    4.80%
     2   WDS*        2   TW.       5.22%      2   BLND    4.63%
     3   PHP+        3   BATS      5.19%      3   BT.A    4.54%
     4   BT.A+       4   LGEN      4.68%      4   VOD     4.39%
     5   BATS*       5   AV.       4.58%      5   IGG     4.33%
     6   IGG+        6   IMB       4.46%      6   PHP     4.24%
     7   IMB*        7   VOD       4.26%      7   AV.     3.78%
     8   LGEN*       8   BLND      3.88%      8   TW.     3.78%
     9   LLOY+       9   BHP       3.84%      9   BATS    3.73%
    10   ULVR       10   SMDS      3.82%     10   KGF     3.59%
    11   S32        11   RIO       3.68%     11   LGEN    3.58%
    12   RKT        12   NG.       3.42%     12   ADM     3.56%
    13   AV.*       13   IGG       3.40%     13   WDS     3.37%
    14   TATE       14   KGF       3.28%     14   GSK     3.21%
    15   GSK        15   ADM       3.19%     15   IMB     3.17%
    16   SMDS       16   PHP       3.18%     16   BP.     3.16%
    17   BLND+      17   BP.       3.03%     17   TSCO    3.13%
    18   UU.        18   BT.A      2.97%     18   PSON    2.84%
    19   TSCO       19   LLOY      2.96%     19   SHEL    2.83%
    20   TW.*       20   UU.       2.54%     20   SSE     2.78%

This has now returned LLOY to the list of disqualified shares, because of share of portfolio cost(+). As always I disqualify any share which, if topped up by 20% would exceed 5% of either share of income(*) or share of portfolio cost. Hence the top 9 in my top-up list are disqualified. LLOY has moved up from 32nd in the rank by value to 27th place. Hence Unilever is next in line for a top-up as things stand. The portfolio ranked by value now looks like this:

Value                           
Rank    EPIC   Weight   % Median
    1   ADM     4.16%     141.9%
    2   TW.     3.53%     120.3%
    3   BHP     3.50%     119.3%
    4   IMI     3.32%     113.1%
    5   BP.     3.31%     112.7%
    6   SHEL    3.28%     111.8%
    7   RIO     3.22%     109.9%
    8   SSE     3.17%     108.2%
    9   BLND    3.16%     107.9%
   10   KGF     3.15%     107.4%
   11   NG.     3.14%     107.0%
   12   AV.     3.13%     106.7%
   13   SMDS    3.10%     105.8%
   14   BA.     3.06%     104.4%
   15   AZN     3.01%     102.8%
   16   UU.     2.99%     102.1%
   17   TSCO    2.96%     100.8%
   18   LGEN    2.93%     100.0%
   19   BATS    2.91%      99.3%
   20   IMB     2.90%      98.8%
   21   PSON    2.85%      97.4%
   22   SGRO    2.80%      95.3%
   23   HLN     2.62%      89.5%
   24   IGG     2.60%      88.7%
   25   DGE     2.59%      88.2%
   26   GSK     2.58%      87.9%
   27   LLOY    2.57%      87.6%
   28   WDS     2.49%      84.8%
   29   ULVR    2.44%      83.2%
   30   PHP     2.42%      82.6%
   31   BT.A    2.36%      80.3%
   32   S32     2.17%      73.9%
   33   VOD     2.09%      71.4%
   34   TATE    1.90%      64.9%
   35   RKT     1.60%      54.5%
                                
        Mean    2.86%

My next top-up may be in January.

TJH

[csearle]

Nice. The icing on the cake would be for jimsusan to comment.

[tjh290633]

Having sufficient accumulated dividends, I have topped up South32 (S32) by 20% this morning at 172p. S32 was the first eligible share in my top-up table, which now looks like this:

Top-up          Income                     Cost                
Rank     EPIC   Rank     EPIC   % Income   Rank   Epic   % Cost
     1   VOD+*       1   WDS       5.29%      1   LLOY    4.77%
     2   WDS*        2   TW.       5.17%      2   BLND    4.61%
     3   BT.A+       3   BATS      5.14%      3   BT.A    4.52%
     4   BATS*       4   LGEN      4.63%      4   VOD     4.37%
     5   PHP+        5   AV.       4.53%      5   IGG     4.31%
     6   IMB*        6   IMB       4.41%      6   PHP     4.22%
     7   IGG+        7   VOD       4.22%      7   AV.     3.76%
     8   LGEN*       8   BLND      3.84%      8   TW.     3.76%
     9   ULVR        9   BHP       3.80%      9   BATS    3.71%
    10   RKT        10   SMDS      3.78%     10   KGF     3.57%
    11   AV.*       11   RIO       3.64%     11   LGEN    3.56%
    12   LLOY+      12   NG.       3.39%     12   ADM     3.54%
    13   S32        13   IGG       3.37%     13   WDS     3.35%
    14   TATE       14   KGF       3.25%     14   GSK     3.19%
    15   KGF        15   PHP       3.17%     15   IMB     3.16%
    16   GSK        16   ADM       3.16%     16   BP.     3.14%
    17   UU.        17   BP.       2.97%     17   TSCO    3.11%
    18   SMDS       18   BT.A      2.94%     18   S32     2.95%
    19   DGE        19   LLOY      2.93%     19   PSON    2.82%
    20   TW.*       20   UU.       2.52%     20   SHEL    2.81%

As always I disqualify any share which, if topped up by 20%, would exceed 5% of either dividend income (*) or portfolio cost (+). Consequently the next 2 eligible shares are ULVR and RKT as things stand. Early February is the most likely time.

My portfolio now looks like this:

Value                           
Rank    EPIC   Weight   % Median
    1   ADM     4.11%     145.1%
    2   TW.     3.89%     137.3%
    3   BHP     3.56%     125.7%
    4   BLND    3.27%     115.3%
    5   RIO     3.21%     113.3%
    6   BA.     3.21%     113.2%
    7   NG.     3.19%     112.5%
    8   SSE     3.18%     112.0%
    9   IMI     3.17%     112.0%
   10   SMDS    3.15%     111.0%
   11   BP.     3.14%     110.9%
   12   TSCO    3.12%     110.1%
   13   AZN     3.09%     109.2%
   14   AV.     3.08%     108.8%
   15   SHEL    3.08%     108.5%
   16   KGF     3.00%     105.8%
   17   LGEN    2.97%     104.8%
   18   UU.     2.83%     100.0%
   19   SGRO    2.81%      99.2%
   20   PSON    2.81%      99.1%
   21   IMB     2.80%      98.9%
   22   IGG     2.80%      98.7%
   23   LLOY    2.75%      96.9%
   24   GSK     2.72%      95.9%
   25   BATS    2.62%      92.6%
   26   HLN     2.57%      90.7%
   27   S32     2.55%      90.0%
   28   DGE     2.46%      86.8%
   29   PHP     2.39%      84.4%
   30   ULVR    2.38%      84.1%
   31   WDS     2.38%      83.9%
   32   BT.A    2.31%      81.6%
   33   VOD     1.90%      67.1%
   34   TATE    1.88%      66.4%
   35   RKT     1.59%      56.2%
                                
        Mean    2.86%

S32 has moved up from 32nd to 27th position. It should be noted that I trimmed back S32 in February 2022, when it was overweight at 248p. My IRR for the holding is 10.18%.

TJH

[Arborbridge]

I wonder if you might veto RKT on the grounds of low yield.
One of your objectives is to ratchet up income and maintain a high yield portfolio - is RKT a qualifier when it wouldn't get into a HYP list at present?


PS: I might justify it on the grounds that if one wants RKT, its yield is about "as good as it gets" at the moment.

Arb.

[tjh290633]

I wonder if you might veto RKT on the grounds of low yield.
One of your objectives is to ratchet up income and maintain a high yield portfolio - is RKT a qualifier when it wouldn't get into a HYP list at present?


PS: I might justify it on the grounds that if one wants RKT, its yield is about "as good as it gets" at the moment.

Arb.

I look at it and wonder, Arb. I usually do what the table tells me. The yield on RKT is not low enough to contemplate selling it, which is a possibility with IMI and HLN. I must have a look at my records to see how it stacks up.

Computer now fired up. First bought in 2011 at 3062p with a yield of 4.08%, Indivior demerged in 2014 and trimmed when overweight in 2016 at 7058p. Dividends increased every year since bought, except in 2020 and 2021. IRR 10.25%, so no regrets on that score.

Looking at my top-up table, today it runs RKT, ULVR, TATE, S32, KGF, SMDS. TATE has the lowest yield at 3.0%, and the first above my median yield of 4.9% is KGF at 5.5%. SMDS has a yield of 6.05%.

It always puzzles me when a share that has been trimmed for being overweight sinks to the bottom of the table. This is down to the considerable fall in share price and maybe this is the right time to buy. Who knows?

TJH

[Arborbridge]

It always puzzles me when a share that has been trimmed for being overweight sinks to the bottom of the table. This is down to the considerable fall in share price and maybe this is the right time to buy. Who knows?

TJH

Indeed - the 1st world dilemmas we face