Huygens Portfolio Review: 13 June 2025

Union Pacific tracks through Canby.

Huygens is a pure Asset Allocation portfolio, built around traditional asset classes with a global diversification plan.  Since this review comes at a time when we are approaching the end of the second quarter, no changes are planned.  After the second quarter dividends are in I will be updating asset classes that are below target.  More explanations to follow later in this blog post.

Huygens Asset Allocation

Below are the current assets that make up the Huygens portfolio.  This morning I used the remaining cash to purchase four (4) more shares of SHV.  SHV is still below target.

Huygens Rebalancing Recommendations

SHV continues to be the asset classes most out of balance so excess cash will be used to bring that treasury closer to the target percentage when cash becomes available.

Huygens Performance Data

The Huygens has not been using the Asset Allocation investing model since 12/31/2021.  The last screenshot will provide information as to the asset allocation performance.

Over this 3.5 year period the portfolio is essentially matching the AOR benchmark.  AOR is the only benchmark in the running as SPY is far and away the most difficult benchmark to beat.

Huygens Risk Ratios

The Jensen Alpha is currently ahead of where it was a year ago, but this will not be true in a month or so as the “high water mark” was last fall.

Security Returns

The following table is one I use to check on how a particular investing model is working.  This table includes securities currently part of the Huygens portfolio.  Many of the ETFs were part of the portfolio for only a short period.  The IRR values take that into account.

Checking the Annualized IRR values and comparing them with SPY one can see which assets are adding alpha to the Huygens and which are a drag on performance.  Overall, the AA model is adding value as the performance is significantly greater than any of the benchmarks.

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