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The Forticus Lifestyle Fund - Forticus - 07-27-2018 I have posted the annual review of my portfolio at SA in 2 blogs. Part 1: long term stuff versus personal benchmarks towards retirement in 2023 https://seekingalpha.com/instablog/47427928-forticus/5189173-1-benchmark-retirement-2023-annual-review Part 2: individual holdings in June, 4 closed and 29 opened positions since April 2017. https://seekingalpha.com/instablog/47427928-forticus/5191664-portfolio-holdings-june-2018-annual-review-part-ii Thanks to this forum for exchanging ideas over the year. P.S.: dont understand why the forum doesnt convert the 2nd link to clickable. RE: The Forticus Lifestyle Fund - Dividend Watcher - 07-30-2018 Forticus, I see it's been a busy year. Now that it appears your portfolio is close to completion, are left to adding to positions? Do you have a goal for how many different companies you plan to hold? RE: The Forticus Lifestyle Fund - Forticus - 07-31-2018 DW, a year ago, I thought about 33 companies, an average of 3 companies per one of the 11 sectors. There are some sectors, where I see less: 1 in materials, 2 in industrials, which gives room for more in other sectors. Until end of this year I like to keep 3% as a full position equivalent, but certainly wil have some at 4% and several with less than 3%. After changes in July it's 44 companies. I guess the number will be trending sideways between 30 and 50 companies for the next couple of years. RE: The Forticus Lifestyle Fund - Forticus - 12-07-2021 Today it's 1 year plus 4 months of watching the portfolio and collecting dividends. If I recall correctly, there was one action since: selling VTRS in Nov'20, spin-off of Pfizer. Counting 42 companies plus 3 spin-offs. The series of all-time highs is boosted by weakening EUR/US rates. One reason of that inactivity is, after closing our family business in 2019, we still wait for the 2019 tax settling. Some of the cash in the portfolio is a backup for unexpected taxes. For 2020 and 2021 it looks like the tax on dividends (withheld by the US broker) accounts for a major part of our taxes. Net dividends from 2020 and 2021 may be reinvested. RE: The Forticus Lifestyle Fund - ken-do-nim - 12-07-2021 Use the [ url ] tag to make links clickable. https://seekingalpha.com/instablog/47427928-forticus/5191664-portfolio-holdings-june-2018-annual-review-part-ii RE: The Forticus Lifestyle Fund - Forticus - 12-19-2021 Comments on the 16 transactions on Dec 17, 2021, after 1.5 years of watching. The portfolio is between accumulation phase ( - 2019) and decumulation, currently 1-3 years ahead. Some 10% of the portfolio still need to be held in cash for coincidences (market drop, taxes, decumulation ...). Set 1 of transactions: Kicked spin-offs KD, OGN, ONL and closed SPG, a full position, with a loss of 10%. Proceeds went into O, NNN, MRK, AMGN and ATO - 0.2 FPEs each [1]. O is now overweight 1.2 FPE, AMGN now 1.0 FPE, and ATO a new position. Set 2: About half of the dividends of 2021 reinvested into TD, MDT, LMT, and INTC - 0.2 FPEs each. TD now overweight, 1.2 FPE, LMT a new position. Set 3: In the none-to-low dividend section, GOOGL and AMZN got a boost of 0.4. FPEs each. AMZN now a full postion. Set 4: “Closed a position” of 22 CAD, a remnant from transactions in 2020. A fee of 10%, acceptable to get it out of sight. Yet I still see 1 CAD on the list. Dividend income: Set 1 was neutral, set 2 increased dividend income by some 1.8%. Utilities: That's 4% of the portfolio. After I sold D (dividend cut) and NEE (cash management) in 2020, I kept eyes open for a new no. 3. So that’s ATO, next to SO and DUK which reside at the lower end of quality measures. WEC and more are on watch. REITs and cyclicals: In 2020 I could not make my mind up about SPG and NNN. SPG’s cut and the erratic 20-years chart (my Fastgraphs interpretation) doesn’t sound “reliable, predictable and increasing” as some saying goes. I put AVB, ESS and FRT on watch. Some day, there might be a third REIT on board again, or just one survivor. REITs are 5% of the portfolio and will probably stay there. My favoured sector within cyclicals (supersector) are financials with 15.5%, seven stocks, includes V and MA. Healthcare: This is our largest sector, 22%, 8 stocks, well within our circle of competence/wellness. Outside the portfolio we hold shares of a pharma cooperative worth 3 FPE, which I’d prefer to trim. [2] Industrials, 4%: With LMT now we hold three: MMM, GD and LMT. In general, industrials are outside the spa and holdings may turn out as longterm swingtrades. Outlook: No idea when withdrawals are need. Maybe within two years. Until then I might reinvest part of the dividends, switch stock to better DGI measures or just watch. - - - - [1] FPE = Full Position Equivalent, used to track cost. 1 FPE is about 1/33 to 1/30 of cost. During accumulation, from 2015 to 2020, the amount of Euro per 1 FPE was increased annually. It reached a factor of 5 over 2015. Meanwhile some stocks are at 1.2 FPE. Of course I run columns for market value. Whenever gains or losses are realized, proceeds will turn to FPEs. [2] The coop’s share price and dividends are fixed, lit(t!)eraly - until not: in 2020 they cut the dividend by 25%. Since, I try to convince my wife to fade out of the coop instead of withdrawels from the DGI portfolio. RE: The Forticus Lifestyle Fund - Forticus - 01-21-2022 (post copied from SA) For my annual review I take inflation rates to track the buying power of my capital basis ( = money sent to the broker). Yesterday, our federal institute of statistics [1] published an inflation rate of 3.1% for 2021. Since I started DGI in 2015, the capital inflation correction now adds 4.9% to the capital basis. For 2020 inflation was 0.5%. Thus, the 3.1% of 2021 may look bad. But then, for the duration of the second half of 2020 our VAT was reduced by 3% (covid action). In November, when I heard of 5% month over year inflation rate, it was clear that this included a VAT shift. To get a better (rose-colored glasses) view on 2021, the recent rolling 3-year averages (CAGR) of inflation rates are 1.6% for 2019, 1.2% for 2020, and 1.7% for 2021. All three are well within the range of the 3-year CAGRs of the last two decades, nothing special. When I use 3% for upcoming 5 years, the capital inflation correction would add up to 22%. - - - [1] destatis.de, Wiesbaden |