Bohr Portfolio Review: 19 November 2025

Miller Landing

Last April I moved the portfolio management style over to Asset Allocation as the Bohr was not performing as expected.  Now that we face the high probability of a market crash, I am paying close attention to the recommendations that come out of the Kipling spreadsheet.  As readers will see in a moment, no equity or bond holdings are recommended for purchase.  Only SHY is a Buy and I am loading up on shares when cash becomes available.  This is a very conservative approach to portfolio management.

Bohr Security Holdings

The Bohr is roughly a 70/30 stock/bond asset allocation portfolio if one includes real estate (VNQ) as an equity.  Tilting to the cautious side SHV is well above target and all other Exchange Traded Funds (ETFs) are below target as none are currently recommended for purchase.  No changes are planned for the Bohr.

Bohr Rebalancing Recommendations

The Risk Adjustments worksheet below shows SHV is the lone ETF recommended as a Buy.  Dividends and new cash will be used to purchase more shares of SHV.  Otherwise, no changes are planned for the Bohr.

Bohr Portfolio Performance

Since 12/31/2021 the Bohr lags all tracked benchmarks.  This poor performance was motivation for moving to the Asset Allocation investment model.

Bohr Risk Ratios

• Sortino Ratio:  Since last year the portfolio has increased in value.
• Jensen Alpha:  This metric is below where it was last November, but it has gained slightly since last June.
• Treynor Ratio:  The value is very negative due to a negative IRR and a low beta value for the Bohr.
• Information Ratio:  This critical ratio is well below its value last November.  There is slight improvement this month over October.

The portfolio is position to handle a recession, but not a depression.