The Hawking Portfolio is a portfolio of Funds with diversification through “growth” objectives and “income” objectives. Let’s check on recent performance:
where we see a relatively smooth equity curve with the portfolio nicely outperforming its VTTVX benchmark. So, let’s first check on the “growth” portion of the portfolio whose quiver is made up from 40 ETFs:
and is currently ~80% invested in 9 ETFs – 6 in equities, 3 in bonds. I did not totally rotate out of bonds last month – although I probably should have done since that was the recommendation. But let’s see whether this has changed:
The recommendations haven’t changed too much – although bonds are looking weaker than last month (with the noticeable exception of TIP – the inflation-protected bond) so I will follow the recommendations and rotate out of bonds as shown in the position sizing sheet below:
Moving on to the CEF dominated “income” portion of the portfolio:
we see that current holdings are estimated to generate ~7% “income” annually through dividend distributions and we are ~90% invested.
Checking current recommendations:
we see three discretionary Hold? recommendations (not strong sell candidates) and we can move to the position sizing sheet to make our adjustments:
where I will choose to sell these (3) assets, together with two other sell recommendations and will use the funds to buy shares in five new assets and add to one existing position (USA).
Note that both portions of the portfolio are showing ~6.5% maximum risk (with stops in place) – but I have tightened my stops by limiting maximum losses on any single asset to 1% of portfolio value with volatility stops set at one standard deviation. This results in a ~30% probability of getting stopped out. This is tight, but I am getting a little nervous about risk – so I am being very cautious.