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Portfolio Q112

My portfolio (at cost) of S'pore stks for Q112 close,

 
The STI closed at 3010.46, +13.76% from end 2011. Using cost as a reference, my portfolio stats (vs 2011),
  • Size : -3.61% (Mainly Due to Selling Stocks with Huge Losses)
  • Net Portfolio Performance vs End-2011 Mkt Value : +14.53% (Unrealised) – 3.54% (Realised) + 0.97% (Div) = +11.96%
  • Further Breakdown of Realised Losses : -3.76% (Stocks Bought before 2012) + 0.22% (Stocks Bought in 2012)
  • Portfolio Composition
    • 2011 : 40.08% (Yield Stocks) + 27.43% (REITs) + 21.65% (Infrastructure) + 5.03% (Shipping Trusts) + 5.82% (Junk)
    • 2012 : 55.42% (Yield Stocks) + 31.02% (REITs) + 13.57% (Infrastructure)
      • Quite a Radical Shift in Portfolio Composition to One that's Hopefully Less Risky
      • Reduced Infrastructure (Highly Geared eg. MIIF) & Shipping Trust (High Gearing + Low Cycle)
      • Increased Yield Stocks (Lower Volatility in Earnings) 

So, +11.96% vs +13.76% (STI), worse than STI, but am not complaining!

Changes in portfolio (vs Q411),

  • New Additions : SingTel, Popular
  • Increases : HLFin, STEng, StarHub, FrasersComm, SPH
  • Decreases : KGT, MIIF, CitySpring, RafflesMed
  • No Change : Sabana, Cambridge, AIMSAMPIREIT, SingPost, SBSTransit
  • No More : FSL, Rickmers, ComfortDelgro

 

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M1 @ $2.51

Sell @ $2.51. Contra off as due, no more left. Managed to follow my original priority as a short term trade. Buyer CP = ML & CLSA. 😀

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Popular Hldgs @ $0.171

Buy @ $0.171. Add to my collection. Decided not to wait for $0.17 or lower. Collect some more 1st. 😀

May not have much room to go up and may be capped at $0.18 as Mr Chou (~54% major shareholder) sold some at that price recently. Refer to talkstock blog latest comment for more info.

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M1 @ $2.48

Buy @ $2.48. New addition to my portfolio. Itchy finger, went to Q and got done. Now, I have all 3 TELCOs in my portfolio!

Yield = 5.847% with DPS = 7.9ct xd on 11-Apr. See whether can do a short term trade, but ok to hold for long term also. Seller  CP = CitiGroup. 😀

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FCOT @ $0.83

Buy @ $0.83. Decided to add to my collection.

Am expecting DPU = 3.124ct for 1H12 ie. Yield = 7.527% vs 7.241%  (using Q112 DPU = 1.51ct). Not that great as compared to average REIT Yield = 7.237% but I'd been intending to increase my stake for quite some time already (since I missed buying at $0.765 many weeks back!).

My main reason is I like what the Manager (F&N) had been doing since they took over from AllCo. The urgency is they'll be reporting their results in a few eeks' time. 😀

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The Hour Glass @ $1.365

Sell @ $1.365. Sold all.

Same reason as SIA Engg for selling – I only managed to do 1 buy and it'd kept going up. Don't want to spend too much time monitoring.

Unlike SIA Engg which had flat EPS, The Hour Glass seems to be on a growth spurt, with EPS increasing every year (except fo FY09 – US crisis) from FY08. PE is still rather attractive @ 7.54 (I expect it to drop further to 5.78 for FY12 due to better EPS).

Still, I decided to sell all as I noticed volume is rather low and may be subject to manipulations. STI -18 @ 2992, while Hour Glass +3ct. Buyer CP '40' – GS. 😀

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Popular Hldgs @ $0.172

Buy @ $0.172. Got impatient and decided to buy at 0.1ct higher. I ended up more than doubling my holdings today. Better pray they don't go into a loss for Q4 (Apr)! From now onwards, I plan to add more to my collection only if it drops below my lowest buy price ie. $0.171. 😀

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SIA Engg @ $4.09

Sell @ $4.09. Decided to take profit, none left. As my holding is rather small, I have decided to sell all to free up time and effort (to monitor) and perhaps use the free time to screen and analyse new stocks.

Yield = 4.89% (Excl. Special Div) is now lower than my Reference STEng = 4.936% @ $3.14 (but SIA Engg Payout is ~85% vs STEng ~90% ; SIA Engg also has negligible debts).

Buyer CP '73' – Macquarie & '78' – ML buying 1 lot at a time. Looks like they're patiently (and successfully) pushing up the share price of this rather illiquid stock! 😀