Portfolio Updates

Portfolio Update May 2024 – Nvidia Carrying but Tesla Dragging

Calvin Lo

The party continues in May and so far also in June. Nvidia (NVDA) continues its crazy run, while Tesla (TSLA) continues to disappoint. As a result, the Family Retirement Portfolio (FRP) performed well lifted by NVDA, and the Personal Trading Portfolio (PTP) performed poorly dragged down by TSLA.

On the fixed income front, SSB are still pretty attractive with the July 2024 issue sporting 3.3% average 10-year yield (apply by 25 June). However, its only marginally above my lowest yielding SSB of 3.26% so I might give this one a pass. One benefit would be to extend the maturity but quite a bit of trouble to rollover SSB. That said, portfolio cash position is pretty high and markets at all-time highs, so I might just deploy some into SSB for medium-term holding.

Alternatively, 6-month T-bills might be a better short-term option, yielding 3.74% as of the last auction on 6 June 2024. Next auction is on 20 Jun 2024, let’s see what the yield is.

I’ve yet to look more closely at UOB and SCB savings accounts after they reduced their bonus interest rates web 1 May 2024, so I might be leaving some interest on the table. Will take a look soon.

Check out my Fixed Income Tracker and SSB tracker for the latest updates for fixed income and SSB.

Note: I’ve switched over to Portseido in this month’s update and going forward. Portseido can track all my listed securities, except crypto assets and Syfe portfolios. There are also some smaller positions I need to sort out but doesn’t affect the overall picture much.

If you’re interested to track your investment portfolio on Portseido, you can sign up with my referral link.

Combined portfolio (listed securities) valued at ~S$317k. Syfe portfolios valued at S$24k. Crypto assets valued around S$14k. So, total portfolio assets comes up to around S$355k.

See my Portfolio page for more details on my portfolio value, holdings, and strategy.

Family Retirement Portfolio (FRP)

Performance

Allocation

Dividends

Main contributors to P&L

I’m happy with the slight outperformance vs S&P 500 again this month. Gains were mainly driven by Nvidia’s (NVDA) massive rally (up +38% in May) on the back of stellar results and stock split announcement. NVDA is now the largest individual stock holding. Gains were offset by losses from China Tech ETF (SGX:HST), ARK Innovation ETF (ARKK) and the disruptive innovation type stocks.

Besides the usual RSP into ETFs with FSMOne, I sold a combined value of ~S$16k in DBS, VT, QQQ, and ARKK to raise cash after markets continue to rally. However, right after I sold, my wife decided to surrender her whole life insurance plan which returned ~S$11k to be pumped into the FRP. So, basically next month I’ll likely have to buy back those ETFs but maybe split into a few tranches (not so painful).

Read also: Automating Your Investments With FSMOne

If you’re interested to sign up for a FSMOne account, you can use my referral code P0267058.

In terms of cash allocation, this portfolio is currently sitting at 23% cash due to the injection of cash, above my target cash allocation of 18%.

Syfe managed portfolios is currently valued at S$23.7k, up from S$20.9k in May, due to S$2k investment into REIT+ and Income+ and the usual RSP S$400/mth. No change to regular monthly contributions of $200 into each of the Core Equity100 and REIT+ portfolios.

Read my reviews of Syfe Income+, Syfe REIT+, and Syfe Core Equity100.

Personal Trading Portfolio (PTP)

Performance

Allocation

Tesla (TSLA) was flat for the month (down -2% in May), which was a drag for this portfolio especially with the indices rallying hard. Next upcoming catalyst would be the robotaxi reveal on 8 August. If that one underwhelms, TSLA might be in for a hard reality check.

Besides DCA into TSLA, I’ve also bought back some Palantir (PLTR) shares and sold off my entire Apple (AAPL) position in this portfolio.

Read my investment thesis on TSLA here.

How did your portfolio perform in May 2024?

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Disclaimer: This is not financial advice. I am not professional financial advisor nor do I work in the finance industry. Anything I write here is purely my personal opinion. Please do your own research and due diligence before investing into anything. All investments come with associated risks. Best to consult a financial advisor if you’re still unsure.

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