TJH Portfolio adjustment

[tjh290633]

As it happens my top-up, just now, was BATS. With CNA, MARS, MKS, SMDS, and (still) BT-A on the naughty step (harsh perhaps given the situation) they were the top of my Terryish top-up list this time.

Following Foolish wisdom gleaned on these boards I have now a second broker (ii in addition to iWeb). New ISA allocations will go to the new one and top-ups will eventually happen in both. For the purposes of the top-up ranking I'm treating them as one notional place.

Chris

I had to run two accounts in parallel, when I had a PEP and an ISA, and never the twain could meet. I was very happy when I could amalgamate them. It was not simple trying to keep them separate. Money to top up was always in the "wrong" account.

Good luck with it, Chris.

TJH

[daveh]

As it happens my top-up, just now, was BATS. With CNA, MARS, MKS, SMDS, and (still) BT-A on the naughty step (harsh perhaps given the situation) they were the top of my Terryish top-up list this time.

Following Foolish wisdom gleaned on these boards I have now a second broker (ii in addition to iWeb). New ISA allocations will go to the new one and top-ups will eventually happen in both. For the purposes of the top-up ranking I'm treating them as one notional place.

Chris

I had to run two accounts in parallel, when I had a PEP and an ISA, and never the twain could meet. I was very happy when I could amalgamate them. It was not simple trying to keep them separate. Money to top up was always in the "wrong" account.

Good luck with it, Chris.

TJH

I have two brokers (and four accounts as there are ISAs and trading accounts at both) and it can be a pain when the money is in one account and the share you want to top up in a different account. I do have some holdings split across multiple accounts, but I try not to if possible. When TRIG recently had a placing/open offer it was annoying that I couldn't take it up in one ISA as there was insufficient cash in the ISA and I couldn't add more. Ended up taking an over allotment in the other ISA where there was sufficient cash for both, but I could have been scaled back.

[monabri]

Following Foolish wisdom gleaned on these boards I have now a second broker (ii in addition to iWeb). New ISA allocations will go to the new one and top-ups will eventually happen in both. For the purposes of the top-up ranking I'm treating them as one notional place.

Chris

I think that's a wise move based on my experience with delays/accounts frozen (ex SVS Securities - as discussed in painful, prolonged discourse on the lemon's Broker forum).

[funduffer]

Only MARS, CPG and MKS now have to announce resumption of dividends. When that happens more shares will be released from disqualification. Meanwhile I may add to my holding of IGG when the next opportunity arises, probably late in June, but much can change before then.

TJH

On MARS, it could be a long wait. Latest half year results show no indication of restarting dividends:

The Board believes that given the significant disruption to trading in the current financial year and continuing uncertainty it will be prudent to plan for no dividends to be paid in respect of financial year 2021. Dividends have been an important component of returns to shareholders over many years and we will naturally look to resume dividend payments when there is sufficient certainty about the outlook.

I am mulling whether to sell up and move on. The share price has recovered to the point where my loss would be <10%, so not too bad, and I could probably find some better income. I would probably have to look in another sector though. Can't see much to go at in Travel and Leisure at the moment!

Or, is this the wrong time, with things opening up again??????

FD

[88V8]

Can't see much to go at in Travel and Leisure at the moment! Or, is this the wrong time, with things opening up again????

I took on a T&L portfolio last year as a somewhat mistimed means of making a short-term gain. Fortunately it's above water so I can exit with a profit and assuming Europe opens up this summer, exit I will.
That said, most of the SP recovery has already happened. Indeed, some say overly happened.

HYP-wise, given the debt that the sector has taken on, I can't see much scope for significant divis.

If you are drawn to what Luni used to call Sectoral Philately, by all means hang on.
Depends on your time horizon, when you want your jam.

V8

[tjh290633]

I decided to add to my holding of IGG this morning. It was neck and neck with Taylor Wimpey as of Friday night, so I decided to give them the benefit of the doubt. I added 16% to my holding, at 870.5p. My top-up list now looks like this:

Top-up          Income                     Cost                
Rank     EPIC   Rank     EPIC   % Income   Rank   Epic   % Cost
     1   IMB*        1   RIO       6.15%      1   AV.     4.49%
     2   BATS*       2   LGEN      5.03%      2   VOD     4.23%
     3   VOD+        3   IMB       4.90%      3   PSON    4.19%
     4   TW.         4   BATS      4.73%      4   BP.     4.18%
     5   GSK         5   AV.       4.61%      5   RDSB    4.18%
     6   RKT         6   VOD       4.15%      6   LLOY    4.13%
     7   RDSB        7   GSK       4.14%      7   MARS    4.09%
     8   BP.         8   NG.       4.11%      8   IGG     4.06%
     9   ULVR        9   ADM       3.90%      9   BT.A    3.94%
    10   TSCO       10   SSE       3.88%     10   MKS     3.78%
    11   SSE        11   IGG       3.77%     11   GSK     3.61%
    12   BT.A       12   BP.       3.36%     12   PHP     3.58%
    13   LGEN*      13   RDSB      3.31%     13   S32     3.49%
    14   RIO*       14   BA.       3.30%     14   TSCO    3.47%
    15   MKS#       15   BHP       3.27%     15   BLND    3.41%
    16   NG.        16   UU.       3.26%     16   BHP     3.31%
    17   ADM        17   TW.       3.21%     17   LGEN    3.21%
    18   PHP        18   TATE      2.97%     18   SSE     3.08%
    19   AZN        19   BT.A      2.87%     19   KGF     2.96%
    20   BA.        20   PHP       2.85%     20   IMB     2.90%

This has released PSON from my disqualification limit, not that it is likely to enter the fray. Just Aviva and Vodafone are now disqualified on share of cost grounds(+), while RIO, LGEN, IMB, BATS and AV, are out on share of income grounds(*). As a non-payer of dividends, MKS is also ruled out(#).

My portfolio now looks like this:

Value                           
Rank    EPIC   Weight   % Median
    1   IMI     3.81%     135.7%
    2   PSON    3.59%     127.8%
    3   AV.     3.57%     127.1%
    4   DGE     3.35%     119.3%
    5   BHP     3.26%     115.9%
    6   RIO     3.15%     112.0%
    7   LGEN    3.10%     110.4%
    8   UU.     3.00%     107.0%
    9   NG.     2.99%     106.4%
   10   SMDS    2.99%     106.4%
   11   ADM     2.98%     106.1%
   12   IGG     2.96%     105.4%
   13   TATE    2.95%     105.2%
   14   SSE     2.93%     104.1%
   15   BA.     2.91%     103.5%
   16   S32     2.89%     103.0%
   17   KGF     2.84%     101.0%
   18   GSK     2.83%     100.8%
   19   PHP     2.79%      99.2%
   20   BT.A    2.79%      99.2%
   21   BP.     2.75%      98.0%
   22   BLND    2.68%      95.3%
   23   SGRO    2.67%      95.2%
   24   VOD     2.67%      95.1%
   25   TSCO    2.64%      93.9%
   26   AZN     2.63%      93.7%
   27   TW.     2.51%      89.4%
   28   MARS    2.46%      87.7%
   29   ULVR    2.43%      86.6%
   30   BATS    2.40%      85.3%
   31   RDSB    2.38%      84.7%
   32   IMB     2.22%      79.2%
   33   LLOY    2.14%      76.3%
   34   CPG     2.10%      74.7%
   35   RKT     2.06%      73.3%
   36   MKS     1.58%      56.3%

IGG moves up from 26th to 12th ranked by weight. MKS, MARS and CPG are my non-payers.

TJH

[tjh290633]

I decided to add to my holding of Taylor Wimpey this morning, as it was top of my top-up table last night. Done at 171p, and I added about 15% to my holding. I was debating whether to wait until I had sufficient accumulated dividends to add 20%, but decided that the time to act was now. This has moved TW. to about 3.5% above median weight, from 27th position to 14th in the weight rankings.

My top-up table using last night's prices now looks like this:

Top-up          Income                     Cost                
Rank     EPIC   Rank     EPIC   % Income   Rank   Epic   % Cost
     1   IMB*        1   RIO       9.30%      1   AV.     4.49%
     2   BATS*       2   LGEN      4.87%      2   VOD     4.23%
     3   VOD#        3   IMB       4.69%      3   PSON    4.19%
     4   BP.         4   BATS      4.52%      4   BP.     4.18%
     5   SSE         5   AV.       4.41%      5   RDSB    4.18%
     6   BT.A        6   GSK       3.96%      6   LLOY    4.13%
     7   LGEN*       7   VOD       3.95%      7   MARS    4.09%
     8   RKT         8   NG.       3.93%      8   IGG     4.06%
     9   GSK         9   ADM       3.73%      9   BT.A    3.94%
    10   LLOY       10   SSE       3.71%     10   MKS     3.78%
    11   ULVR       11   IGG       3.60%     11   GSK     3.61%
    12   RIO*       12   TW.       3.51%     12   PHP     3.58%
    13   RDSB       13   BA.       3.22%     13   S32     3.49%
    14   NG.        14   BP.       3.19%     14   TSCO    3.47%
    15   TATE       15   RDSB      3.13%     15   BLND    3.41%
    16   TSCO       16   UU.       3.12%     16   BHP     3.31%
    17   MKS+       17   TATE      2.84%     17   LGEN    3.21%
    18   TW.        18   BHP       2.76%     18   SSE     3.08%
    19   BLND       19   BT.A      2.74%     19   KGF     2.96%
    20   CPG        20   PHP       2.72%     20   IMB     2.90%

As always, I disqualify any share which, if topped up by 20% would exceed 5% of either share of income (*) or 5% of share of cost (#). Non-payers are also ruled out (+), so currently BP. is next in line for topping up later in August.

My portfolio now looks like this:

Value                           
Rank    EPIC   Weight   % Median
    1   IMI     3.87%     135.5%
    2   BHP     3.56%     124.7%
    3   DGE     3.50%     122.7%
    4   PSON    3.44%     120.4%
    5   AV.     3.34%     117.0%
    6   ADM     3.32%     116.4%
    7   RIO     3.23%     113.1%
    8   UU.     3.15%     110.4%
    9   BA.     3.12%     109.3%
   10   KGF     3.09%     108.3%
   11   IGG     3.08%     107.9%
   12   NG.     3.02%     105.8%
   13   SGRO    3.01%     105.5%
   14   TW.     2.96%     103.5%
   15   PHP     2.94%     103.1%
   16   LGEN    2.94%     103.0%
   17   GSK     2.89%     101.3%
   18   SMDS    2.88%     101.1%
   19   S32     2.82%      98.9%
   20   TATE    2.78%      97.3%
   21   SSE     2.75%      96.3%
   22   TSCO    2.68%      93.9%
   23   BLND    2.68%      93.9%
   24   AZN     2.62%      91.7%
   25   BP.     2.60%      91.0%
   26   RDSB    2.54%      89.1%
   27   BT.A    2.54%      89.0%
   28   VOD     2.42%      84.9%
   29   ULVR    2.37%      82.9%
   30   BATS    2.31%      81.0%
   31   MARS    2.21%      77.6%
   32   IMB     2.18%      76.4%
   33   LLOY    2.07%      72.7%
   34   CPG     1.93%      67.8%
   35   RKT     1.78%      62.5%
   36   MKS     1.37%      48.0%
                                
        Mean    2.78%

TJH

[csearle]

As always, I disqualify any share which, if topped up by 20% would exceed 5% of either share of income (*) or 5% of share of cost (#).

Please just remind me Terry, when you speak of income above do you include any specials that might have been paid in the year in question?

Thanks,
Chris

[tjh290633]

As always, I disqualify any share which, if topped up by 20% would exceed 5% of either share of income (*) or 5% of share of cost (#).

Please just remind me Terry, when you speak of income above do you include any specials that might have been paid in the year in question?

Thanks,
Chris

Yes, I do include specials. Rio is on a very high yield just now because of them. Admiral, on the other hand, pay specials regularly, as part of their policy.

I do not trim a holding if the yield is too high, because of specials.

TJH

[csearle]

Yes, I do include specials. Rio is on a very high yield just now because of them. Admiral, on the other hand, pay specials regularly, as part of their policy.

I do not trim a holding if the yield is too high, because of specials.

Thanks Terry. I maybe slowly morphing into your good self. C.

[idpickering]

Yes, I do include specials. Rio is on a very high yield just now because of them. Admiral, on the other hand, pay specials regularly, as part of their policy.

I do not trim a holding if the yield is too high, because of specials.

Thanks Terry. I maybe slowly morphing into your good self. C.

I don’t think that’s such a bad idea Chris. We could all learn a lot from Terry. I know he’s taught me a lot over the years I’ve “known” him. I’m very grateful that he keeps us up to date with his HYPing. Thank you Terry.

Ian.

[tjh290633]

Thanks Terry. I maybe slowly morphing into your good self. C.

Thank you Terry.

You lads are very welcome. I just stick to the ways that have served me well.

Good luck to both of you.

TJH

[tjh290633]

Time to recycle some accumulated dividends today, BP. being the recipient. I brought my holding up to the median holding level, buying at 297p XD. Because of an error in my typing, I had expected to have the Rio Tinto dividends in yesterday, but I was a month out, but no matter.

Following this, my top-up table now looks like this:

Top-up          Income                     Cost                
Rank     EPIC   Rank     EPIC   % Income   Rank   Epic   % Cost
     1   IMB*        1   RIO       9.78%      1   BP.     4.64%
     2   BATS*       2   ADM       5.47%      2   AV.     4.47%
     3   RIO*        3   BHP       5.19%      3   VOD     4.21%
     4   VOD+        4   LGEN      4.52%      4   PSON    4.17%
     5   BT.A        5   IMB       4.35%      5   RDSB    4.16%
     6   LGEN*       6   BATS      4.20%      6   LLOY    4.11%
     7   RKT         7   AV.       4.16%      7   MARS    4.07%
     8   BP.+        8   GSK       3.68%      8   IGG     4.04%
     9   RDSB        9   VOD       3.66%      9   BT.A    3.92%
    10   TATE       10   NG.       3.64%     10   MKS     3.76%
    11   LLOY       11   SSE       3.44%     11   GSK     3.59%
    12   ULVR       12   BP.       3.39%     12   PHP     3.56%
    13   GSK        13   IGG       3.35%     13   S32     3.47%
    14   BHP*       14   TW.       3.26%     14   TSCO    3.45%
    15   S32        15   BA.       2.99%     15   BLND    3.39%
    16   MKS#       16   UU.       2.90%     16   BHP     3.29%
    17   TW.        17   RDSB      2.83%     17   LGEN    3.20%
    18   SSE        18   TATE      2.64%     18   SSE     3.06%
    19   NG.        19   BT.A      2.55%     19   KGF     2.94%
    20   TSCO       20   PHP       2.53%     20   IMB     2.89%

As always, I disqualify any share which, if topped up by 20%, would exceed 5% of either Income(*) or Cost(+). I also exclude any share not currently paying dividends(#). BT.A is expecting to resume payments in February and I have allowed for that in my calculations. This means that BT.A is the next candidate for top-up as things stand. RKT and RDSB are behind them.

My portfolio now looks like this:

Value                           
Rank    EPIC   Weight   % Median
    1   IMI     3.91%     134.8%
    2   AV.     3.55%     122.6%
    3   ADM     3.55%     122.5%
    4   DGE     3.42%     118.0%
    5   BHP     3.29%     113.7%
    6   PSON    3.23%     111.5%
    7   SGRO    3.16%     109.1%
    8   IGG     3.14%     108.5%
    9   UU.     3.13%     108.0%
   10   NG.     3.12%     107.8%
   11   BA.     3.08%     106.2%
   12   SSE     3.04%     105.0%
   13   GSK     3.00%     103.7%
   14   KGF     2.97%     102.7%
   15   TW.     2.97%     102.6%
   16   PHP     2.95%     101.7%
   17   SMDS    2.94%     101.6%
   18   LGEN    2.93%     101.3%
   19   BP.     2.86%      98.7%
   20   TSCO    2.84%      98.0%
   21   BLND    2.70%      93.4%
   22   AZN     2.70%      93.2%
   23   RIO     2.68%      92.4%
   24   TATE    2.66%      91.9%
   25   S32     2.66%      91.7%
   26   VOD     2.50%      86.2%
   27   RDSB    2.45%      84.6%
   28   BT.A    2.42%      83.6%
   29   ULVR    2.32%      80.2%
   30   BATS    2.29%      79.1%
   31   MARS    2.20%      75.9%
   32   IMB     2.14%      73.8%
   33   LLOY    1.93%      66.6%
   34   CPG     1.89%      65.1%
   35   RKT     1.76%      60.6%
   36   MKS     1.62%      55.9%
                                
        Mean    2.78%

Nothing in danger of breaching my weight limit of 1.5 times median weight at the moment. Non-payers currently are MARS, MKS and CPG. One lives in hope.

TJH

[tjh290633]

Thanks to the receipt of BHP's bumper dividend, I was now in the position to do a further top-up. BATS was the recipient, and I added exactly 20% to my holding. This raised it from 29th to 23rd in my list ranked by weight, it now being at 95.6% of the median holding weight. Further dividends are in the pipeline, from RIO and SSE yesterday and Segro and BP. today, so I expect to do a further top-up on Monday or Tuesday.

My top-up table now looks like this:

Top-up          Income                     Cost                
Rank     EPIC   Rank     EPIC   % Income   Rank   Epic   % Cost
     1   IMB*        1   RIO*      9.48%      1   BP.     4.62%+
     2   RIO*        2   BHP*      6.96%      2   AV.     4.45%+
     3   VOD         3   ADM*      5.33%      3   VOD     4.19%
     4   BATS*       4   BATS*     4.91%      4   PSON    4.15%
     5   BHP*        5   LGEN*     4.41%      5   RDSB    4.13%
     6   BT.A        6   IMB*      4.25%      6   LLOY    4.09%
     7   RKT         7   AV.       4.06%      7   MARS    4.05%
     8   GSK         8   GSK       3.59%      8   IGG     4.02%
     9   IGG         9   VOD       3.57%      9   BT.A    3.90%
    10   TATE       10   NG.       3.55%     10   MKS     3.74%
    11   ULVR       11   SSE       3.36%     11   GSK     3.57%
    12   LLOY       12   BP.       3.31%     12   PHP     3.54%
    13   RDSB       13   IGG       3.26%     13   S32     3.45%
    14   TW.        14   TW.       3.18%     14   TSCO    3.43%
    15   MKS#       15   BA.       2.92%     15   BATS    3.40%
    16   BLND       16   UU.       2.83%     16   BLND    3.37%
    17   LGEN*      17   TATE      2.57%     17   BHP     3.27%
    18   NG.        18   BT.A      2.49%     18   LGEN    3.18%
    19   ADM*       19   PHP       2.47%     19   SSE     3.04%
    20   CPG#       20   RDSB      2.36%     20   KGF     2.93%

As always, I disqualify any share which, if topped up by 20%, would exceed 5% of income and/or 5% of portfolio cost. Hence the first 6 of the income column (*) and the first 2 of the cost column (+) are ruled out. Non dividend payers (#) are also ruled out, MKS and CPG being affected. BATS is therefore again ruled out, but VOD now gets let in. That means that I expect to add to my holding of VOD early next week. Dividends are coming in thick and fast, so more action soon.

My portfolio now looks like this:

Value                           
Rank    EPIC   Weight   % Median
    1   IMI     4.06%     142.3%
    2   AV.     3.45%     121.0%
    3   DGE     3.42%     120.1%
    4   ADM     3.35%     117.7%
    5   S32     3.26%     114.3%
    6   SGRO    3.19%     112.0%
    7   LGEN    3.16%     110.8%
    8   SSE     3.09%     108.3%
    9   BP.     3.09%     108.2%
   10   NG.     3.04%     106.7%
   11   BA.     3.04%     106.7%
   12   UU.     3.01%     105.5%
   13   PSON    2.99%     104.9%
   14   TSCO    2.96%     103.7%
   15   SMDS    2.95%     103.6%
   16   TW.     2.91%     102.2%
   17   PHP     2.88%     100.9%
   18   GSK     2.85%     100.1%
   19   BHP     2.85%      99.9%
   20   KGF     2.85%      99.9%
   21   IGG     2.83%      99.4%
   22   AZN     2.74%      96.0%
   23   BATS    2.73%      95.6%
   24   BLND    2.69%      94.2%
   25   RDSB    2.66%      93.3%
   26   TATE    2.64%      92.5%
   27   RIO     2.50%      87.6%
   28   VOD     2.35%      82.6%
   29   BT.A    2.31%      80.9%
   30   ULVR    2.27%      79.7%
   31   IMB     2.14%      75.1%
   32   MARS    2.10%      73.7%
   33   LLOY    2.00%      70.0%
   34   CPG     1.90%      66.6%
   35   MKS     1.88%      65.9%
   36   RKT     1.85%      64.9%

TJH

[tjh290633]

It's a week later than anticipated, due to a miscalculation on my part, but I added 20% to my holding of Vodafone this morning, at 114.8p. With a yield of 6.8% it was the highest ranking share in my top-up list, after disqualifications. This has brought it up to just over median weight.

My top-up table now looks like this:

Top-up          Income                     Cost                
Rank     EPIC   Rank     EPIC   % Income   Rank   Epic   % Cost
     1   IMB*        1   RIO       9.62%      1   BP.     4.62%
     2   RIO*        2   BHP       6.83%      2   AV.     4.45%
     3   BATS*       3   ADM       5.30%      3   VOD     4.19%
     4   BHP*        4   BATS      4.88%      4   PSON    4.15%
     5   BT.A        5   LGEN      4.39%      5   RDSB    4.13%
     6   TW.         6   VOD       4.26%      6   LLOY    4.09%
     7   RKT         7   IMB       4.22%      7   MARS    4.05%
     8   TATE        8   AV.       4.03%      8   IGG     4.02%
     9   VOD*        9   GSK       3.56%      9   BT.A    3.90%
    10   GSK        10   NG.       3.53%     10   MKS     3.74%
    11   ULVR       11   SSE       3.34%     11   GSK     3.57%
    12   IGG        12   BP.       3.29%     12   PHP     3.54%
    13   LLOY       13   IGG       3.24%     13   S32     3.45%
    14   BLND       14   TW.       3.16%     14   TSCO    3.43%
    15   ADM*       15   BA.       2.90%     15   BATS    3.40%
    16   NG.        16   UU.       2.81%     16   BLND    3.37%
    17   PHP        17   TATE      2.56%     17   BHP     3.27%
    18   MKS#       18   BT.A      2.47%     18   LGEN    3.18%
    19   LGEN*      19   PHP       2.45%     19   SSE     3.04%
    20   CPG#       20   TSCO      2.30%     20   KGF     2.93%

As always, I disqualify any share which, if topped up by 20%, would account for more than 5% of either share of income or of portfolio cost. As can be seen, the top 7 in the share of income(*) are ruled out, as are the top 2 in share of cost(+). I also rule out those not currently paying dividends(#), although BT.A is expected to resume paying in February, so they are now the top ranking share, with Taylor Wimpey on its heels. Positions do change as share prices fluctuate, so this ranking is provisional. It will be November before I have accumulated sufficient funds for the next top-up.

My portfolio is now, ranked by weight:

Value                           
Rank    EPIC   Weight   % Median
    1   IMI     3.72%     131.2%
    2   DGE     3.50%     123.4%
    3   AV.     3.44%     121.4%
    4   S32     3.43%     120.9%
    5   BP.     3.41%     120.1%
    6   LGEN    3.16%     111.5%
    7   BA.     3.12%     109.9%
    8   ADM     3.10%     109.1%
    9   PSON    3.08%     108.7%
   10   SSE     3.00%     105.6%
   11   NG.     3.00%     105.5%
   12   SGRO    2.99%     105.5%
   13   RDSB    2.98%     105.0%
   14   UU.     2.93%     103.3%
   15   TSCO    2.92%     102.9%
   16   VOD     2.89%     101.8%
   17   GSK     2.85%     100.4%
   18   AZN     2.84%     100.1%
   19   BHP     2.84%      99.9%
   20   IGG     2.79%      98.4%
   21   PHP     2.78%      97.8%
   22   KGF     2.77%      97.7%
   23   SMDS    2.76%      97.1%
   24   TW.     2.69%      94.8%
   25   BATS    2.68%      94.5%
   26   TATE    2.61%      92.1%
   27   BLND    2.60%      91.7%
   28   RIO     2.52%      88.9%
   29   ULVR    2.29%      80.8%
   30   BT.A    2.24%      79.0%
   31   IMB     2.20%      77.3%
   32   MARS    2.14%      75.4%
   33   LLOY    2.02%      71.3%
   34   CPG     2.00%      70.3%
   35   MKS     1.87%      65.8%
   36   RKT     1.83%      64.5%

TJH

[tjh290633]

I topped up BT Group plc (BT.A) this morning, adding 20% to my holding at a price of 143.4p. This is on the strength of the promised resumption of dividends, the interim to be announced on Thursday, assumed to be 2.5p and the assumed final of 5.2p makes the yield 5.37%. As a result, my top-up table now looks like this:

Top-up          Income                     Cost                
Rank     EPIC   Rank     EPIC   % Income   Rank   Epic   % Cost
     1   IMB*        1   RIO       8.80%      1   BP.     4.59%
     2   RIO*        2   BHP       6.58%      2   BT.A    4.42%
     3   BATS*       3   ADM       5.34%      3   AV.     4.42%
     4   BT.A+       4   BATS      4.92%      4   VOD     4.16%
     5   TW.         5   LGEN      4.42%      5   PSON    4.13%
     6   VOD*        6   VOD       4.30%      6   RDSB    4.11%
     7   ADM*        7   IMB       4.25%      7   LLOY    4.07%
     8   BHP*        8   AV.       4.07%      8   MARS    4.03%
     9   TATE        9   GSK       3.59%      9   IGG     4.00%
    10   IGG        10   NG.       3.56%     10   MKS     3.72%
    11   ULVR       11   SSE       3.37%     11   GSK     3.55%
    12   RKT        12   BP.       3.33%     12   PHP     3.52%
    13   MKS#       13   IGG       3.27%     13   S32     3.43%
    14   SMDS       14   TW.       3.19%     14   TSCO    3.41%
    15   LLOY       15   BT.A      2.99%     15   BATS    3.38%
    16   PSON       16   BA.       2.92%     16   BLND    3.36%
    17   BLND       17   UU.       2.83%     17   BHP     3.25%
    18   PHP        18   TATE      2.58%     18   LGEN    3.16%
    19   LGEN*      19   PHP       2.47%     19   SSE     3.03%
    20   NG.        20   TSCO      2.32%     20   KGF     2.91%

As can be seen, this has pushed the share of cost for BT.A above the cut-off point for disqualification from topping up, and my usual rules apply, whereby any share if topped up by 20% would exceed 5% of either share of income (*) or of portfolio cost (+) is disqualified, as is any share not currently expected to pay a dividend (#). This means that Taylor Wimpey (TW.) is currently the highest ranking eligible share.

My portfolio now looks like this, ranked by weight:

Value                           
Rank    EPIC   Weight   % Median
    1   IMI     3.69%     134.1%
    2   DGE     3.57%     129.9%
    3   S32     3.53%     128.2%
    4   BP.     3.47%     126.1%
    5   AV.     3.44%     125.0%
    6   LGEN    3.26%     118.6%
    7   SGRO    3.18%     115.8%
    8   SSE     3.15%     114.4%
    9   GSK     3.12%     113.4%
   10   TSCO    3.10%     112.7%
   11   NG.     3.08%     112.2%
   12   UU.     3.08%     111.8%
   13   BA.     3.01%     109.3%
   14   RDSB    2.93%     106.5%
   15   BHP     2.90%     105.4%
   16   AZN     2.89%     105.0%
   17   ADM     2.82%     102.5%
   18   KGF     2.78%     101.2%
   19   PHP     2.72%      98.8%
   20   VOD     2.70%      98.3%
   21   IGG     2.69%      98.0%
   22   BATS    2.62%      95.2%
   23   TW.     2.61%      94.8%
   24   PSON    2.60%      94.6%
   25   BLND    2.60%      94.6%
   26   SMDS    2.56%      93.1%
   27   BT.A    2.50%      91.0%
   28   TATE    2.44%      88.6%
   29   RIO     2.35%      85.3%
   30   LLOY    2.27%      82.4%
   31   ULVR    2.24%      81.4%
   32   MARS    2.17%      78.8%
   33   IMB     2.14%      78.0%
   34   CPG     2.03%      73.7%
   35   RKT     1.90%      69.1%
   36   MKS     1.88%      68.4%

BT.A has moved up to 27th position from 33rd. No current risk of top-slicing, as no share is anywhere near the 150% of median weight which is my criterion for that action. Portfolio yield is currently 4.5%.

TJH

[tjh290633]

I have just added to my holding of IGG, increasing the holding by 20% at 804.5p. It was the highest ranking eligible share in my top-up ranking table. Previously 23rd ranked by weight, it is now 11th. My top-up table now looksm like thia:

Top-up          Income                     Cost                
Rank     EPIC   Rank     EPIC   % Income   Rank   Epic   % Cost
     1   IMB*        1   RIO       7.27%      1   IGG     4.69%
     2   RIO*        2   BHP       6.19%      2   BP.     4.56%
     3   TW.         3   ADM       5.38%      3   BT.A    4.39%
     4   ADM*        4   BATS      4.95%      4   AV.     4.39%
     5   PHP         5   LGEN      4.45%      5   VOD     4.13%
     6   ULVR        6   IMB       4.31%      6   PSON    4.10%
     7   VOD*        7   VOD       4.25%      7   RDSB    4.08%
     8   BATS*       8   AV.       4.10%      8   LLOY    4.04%
     9   RKT         9   IGG       3.96%      9   MARS#   4.00%
    10   TATE       10   GSK       3.62%     10   MKS     3.69%
    11   SSE        11   NG.       3.60%     11   GSK     3.53%
    12   PSON       12   SSE       3.45%     12   PHP     3.50%
    13   BHP*       13   BP.       3.38%     13   S32     3.41%
    14   SMDS       14   TW.       3.21%     14   TSCO    3.39%
    15   IGG+       15   BA.       2.94%     15   BATS    3.36%
    16   CPG        16   BT.A      2.93%     16   BLND    3.33%
    17   LGEN*      17   UU.       2.86%     17   BHP     3.23%
    18   LLOY       18   TATE      2.61%     18   LGEN    3.14%
    19   BT.A+      19   PHP       2.61%     19   SSE     3.01%
    20   GSK        20   TSCO      2.34%     20   KGF     2.89%

As is my rule, I disqualify any share which, if topped up by 20%, would exceed 5% of either share of income(*) or share of portfolio cost(+). I also disqualify any share not currently paying dividends(#). Consequently TW. is the next share ranking for topping up. After them, ADM, PHP and ULVR all have the same ranking but ADM is diqualified, so PHP would win the day by virtue of its higher yield. Looks like late March when accumulated dividends will allow topping up, but much can change along the way.

My portfolio now looks like this:

Value                           
Rank    EPIC   Weight   % Median
    1   S32     3.74%     133.5%
    2   AV.     3.49%     124.4%
    3   BP.     3.48%     124.1%
    4   IMI     3.48%     124.0%
    5   DGE     3.43%     122.3%
    6   BHP     3.38%     120.4%
    7   NG.     3.24%     115.6%
    8   LGEN    3.11%     111.0%
    9   TSCO    3.08%     109.9%
   10   GSK     3.08%     109.6%
   11   IGG     3.07%     109.4%
   12   SGRO    3.04%     108.2%
   13   RDSB    2.96%     105.4%
   14   BA.     2.93%     104.5%
   15   BT.A    2.90%     103.4%
   16   UU.     2.90%     103.3%
   17   BATS    2.85%     101.6%
   18   ADM     2.83%     100.7%
   19   SSE     2.79%      99.3%
   20   VOD     2.72%      96.9%
   21   BLND    2.66%      94.7%
   22   KGF     2.65%      94.4%
   23   RIO     2.63%      93.6%
   24   TW.     2.57%      91.8%
   25   TATE    2.53%      90.0%
   26   AZN     2.49%      88.8%
   27   SMDS    2.48%      88.6%
   28   PHP     2.45%      87.5%
   29   PSON    2.39%      85.1%
   30   LLOY    2.23%      79.6%
   31   IMB     2.19%      78.1%
   32   MKS     2.17%      77.4%
   33   MARS    2.08%      74.1%
   34   ULVR    2.08%      74.0%
   35   CPG     2.05%      73.1%
   36   RKT     1.85%      65.9%
                                
        Mean    2.78%

Noticeable how ULVR and RKT are very depressed.

TJH

[idpickering]

Thanks for the update Terry. I do intend topping up my ULVR holdings over the coming months. As I mentioned here before, on 20 Jan 22 UKW will be my top up, by about 12%, to bring it up to 3.3% in capital value weighting terms of my, still, 28 share HYP.

Ian.

[moorfield]

Looks like late March when accumulated dividends will allow topping up, but much can change along the way.

Apologies I'm sure this has been asked before - can you remind us what your accumulated dividends threshold is for topping up ?

[monabri]

Noticeable how ULVR and RKT are very depressed.
TJH

This years sinners, next year winners?