Portfolio Update for September 2019

It’s about time for a quick portfolio update again. Above all, these updates help me to see the direction in which the portfolio is moving. I then can react and make some adjustments. That’s it.  So without further ado, here is the latest portfolio update for September 2019.

SF Portfolio Snapshot

As of September 24, 2019, I’m invested in 32 companies.
The SF Portfolio has a total value of €59,658 ($65,624) and is expected to generate €1,904 ($2,095) in pre-tax forward annual income.

(Equity Allocation: September 2019)

The market value is up by 2.24% compared to the last update a month ago. In the same period, the S&P 500 (SPX) is showing a gain of 2.30%. After a more or less weak August, the stocks are back in the green territory in September. As a result, this portfolio has reached an all-time high mark this month.

When looking at 1-Month Total Return winners, I notice many cyclical companies. Two out of the three best-performing stocks are banks. Third-place finisher was JPMorgan Chase (JPM), with a monthly total return of 12.13%. Bank of America (BAC) came in second, showing a monthly performance of 12.20%. Finally, these two were only topped by Daimler AG (DAI), with a monthly return of 13.54%. When markets are trending upward, companies from the cyclical or sensitive areas of the economy tend to deliver higher stock price appreciation than companies from the defensive field. On the other hand, defensive businesses usually do better in a down market.

Recent Purchases

Speaking about defensive companies, I’m quite happy having added one more health care stock to this portfolio recently. In the second week of September, I’ve purchased 6 shares of UnitedHealth Group (UNH) – the largest private health insurance provider in the United States. Despite its relatively low dividend yield of 1.9%, UNH has a lot of good things to offer. The growth prospects are fantastic, we see outstanding quality metrics across the board and there is plenty of available free cash flow to keep rewarding us shareholders with future dividend raises. I like that. The purchase of UNH increases my pre-tax forward annual income by €23.45 ($25.92).

Top 10 Holdings

(Top 10 Holdings: September 2019)

The Top 10 list looks almost identical compared to the last month. The only change relates to the positioning of AT&T (T). As T keeps on performing well, it moved one place up in the table – representing my fifth-largest holding at the moment. T’s YTD Total Return is very remarkable: 37.11%. Congrats to all those who were buying, when the media and experts were pessimistic about T’s future. Interestingly, many of those experts had changed sides and promote T as one of their best ideas now. Well, so much for that.

Sector weightings

(Sector Weightings: September 2019)

The purchase of UNH has slightly increased the share of defensive businesses. However, it is still well below my personal target of 50%. For that reason, the goal of building defensive positions remains unchanged. Especially, I’m trying to identify one potential candidate from the utility sector. Dominion Energy (D) is the only one company from this field so far. I would love to add a second utility rather sooner than later. Beyond that, I’m thinking about swapping a cyclical stock for a defensive stock. The decision is not taken yet, however, the more I think about it the more I like it. More details on this soon. Stay tuned.


  1. Divs4Jesus.com October 5, 2019 at 7:48 pm

    Great Work Snug! Keep it up


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