Portfolio Update Q4 2025

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This month marks the end of the 4th quarter of 2025.  Thus being the last post of 2025, it is definitely a good time for me to record the performance of my portfolio to track how it has been.

To recap, I started my SG Dividends Portfolio in late 2017, and I began tracking the dividends and all reinvestment done starting 2018.  To date, my SG Dividends Portfolio consist of banks, REITs and defense technology.  On the other hand, I only started the US Growth Portfolio in late December 2021, but I have since liquidated my entire US Growth Portfolio in September 2025 to pay off my Malaysia mortgage loan.  Currently, my equities allocation is 100% in SG Dividend Portfolio.

Being a relatively conservative investor, I prefer to dollar cost average (DCA) into the market to slowly build up my portfolio.  The latest FED meeting in December has announced another 25 basis point rate cut, and has further signaled that there will be fewer rate cuts in 2026 (dot plot signaled two cuts, while the most pessimistic market expectation has signal no rate cuts in 2026).  This is the exact same "game plan" announced by the FED at the end of 2024.  Will this allow 2026 to have another spectacular performance as 2025 remains to be seen.  

Closer to home, my SG Dividend Portfolio is recently experiencing some exciting times, as Oversea-Chinese Banking Corporation (OCBC) inches towards all time high, coupled with the news that Monetary Authority of Singapore (MAS) is supporting and revamping the Singapore stock markets, definitely helped to rejuvenate my portfolio positively.  REITs, on the other hand, are experiencing some divergence, as certain REITs like Aims Apac REIT and CapitaLand Integrated Commercial Trust (CICT) are charging towards new 52-week highs, while supposedly "blue chip" REITs like Mapletree Industrial Trust (MIT) and Mapletree Logistic Trust (MLT) are still languishing at near term lows.  Even banks experience similar divergence with Development Bank of Singapore (DBS) and OCBC reaching highs while United Overseas Bank (UOB) stagnating around its current price levels.  Thankfully, having a diversified portfolio also mean that the decline in value of certain underperformers are mitigated by the strength of the outperformers.  Basically, after major rebalancing activities this year, I am currently comfortable with my portfolio allocation.

On a more cheerful note, in addition to the rise in total portfolio value, dividends collected in the fourth and last quarter has also been satisfactory, at SGD 4,497.44 from dividends from Mapletree Family REITs, Fraser Logistics and Commercial Trust (FLCT), Development Bank of Singapore (DBS), Singapore Technologies Engineering (STE), Riverstone (RVS), Aims Apac REIT (AAR) and CFA REIT ETF.  This dividend amount is a 21.7% decline compared to the same period in 2024.  The decline is partly due to the advance distribution paid by CICT and ParkwayLife REIT (PWLR) due to their respective equity fund raising exercises last year, as well as the partial sale of my Mapletree family REITs in the rebalancing exercise.  Excluding the advance distribution, total dividends collected this quarter would have increased slightly by 1.3%. 

Nonetheless, this brings the total dividends collected for the year 2025 to SGD 31,412.60.  This is 4.7% above my annual target of SGD 30K, as recorded in my post at the start of the year, and gladly, a pleasant 10.7% increase from 2024's annual dividend.  Based on trailing twelve-month dividends collected per month, the average dividends collected monthly now is around SGD 2,600.00.  A pat on the back to myself, as I have exceeded my Barista FIRE number.  Starting 2026, I will initiate my first phase of Barista FIRE plan, and see how things go.  

For this month, the total portfolio market value increased to approximately SGD 714K in this quarter, including a capital injection of SGD 1.7K, which is an increase of about 2.5%.  Including the cash value of SGD 13.5K retained dividends (in preparation for the execution of my first phase of Barista FIRE) from 2H of 2024 and the whole of 2025, the total value will be about SGD 728K, which is an all time high for my portfolio!  As a part of self improvement, this year I finally learnt how to calculate the Extended Internal Rate of Return (XIRR) for my portfolio for the year, which is 19.21% (excluding dividends) and 25.26% (including dividends) respectively.  This concludes my portfolio for the year of 2025, which pales in comparison to many financial bloggers and gurus out there, but hey, let this post be a constant reminder that I am competing against no one except myself.  Overall, I am pleased and contented with the performance of my portfolio and I believe it is still important to remain invested for me and look forward to higher total dividends next year!  Moving onwards to SGD 36K dividends per year!  Barista FIRE, here I come...!

SG Dividends Portfolio

Total Portfolio Value: SGD 714,391.00

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