In the past, this seemed to be a popular CEF thread. Let's see if it's still so.
PCI 12% PKO 9% PFN 9% in IRA-Rollover account.
In December .... re-invested distributions when realized
high conviction holdings, >5% pv: PDI, PCI, DBL, PKO
mid-size positions, 1-5% pv: FFC, DMO, PFN, BGX
small positions <1% pv: KIO, NRGX, KYN.
CEFs = total 42% of portfolio
changes since last month: sold small position in NEV on price strength, added a small amt to DMO on relative price weakness
cash: 6%. most things seem expensive, so I'm letting cash build up for now in case opportunity presents ...
CEFs are 31% of my total portfolio as displayed in the table below. The starred (*) equity/preferred/mixed are in my taxable account to supplement pension/SS for monthly expenses with any excess reinvested. The others are in my tax deferred/free accounts. New addition is IGD from a Doug Albo SA article.
Thanks for starting this, I missed it last month. Too quiet around here these days. CEFs are around 12% of my portfolio and are used to supplement SS in both taxable and IRA.
Largest to smallest:
NRGX 11% of PValue
Others in order of size: NHF, XFLT, PCI, PTY, ZTR, NCV, PHK, DSL, DSU, ACP.
Must mention: CEFL 2.5%
Of the bunch, NHF is behaving worrisome. Will probably unload about 2/3 tomorrow morning if it resumes recent slipping.
About 50% of our investable assets all in a TIRA along with PONAX which receives all monthly excess to needs distributions. 16 total:
For greed: RIV, ZTR, GOF, GGM - 20%
For balance: UTF, PDT, HTD, RQI, PCN- 30%
For management: PCM, PTY, PCI, PDI, PFL, PFN, CHW - 50%
A majority held since the Great Recession the mother of all investment sales.
I haven’t weighed in on this in a while. Nice to see the thread. I’m basically still holding my ‘blue chips’ and trading around the edges. They are all a bit rich and I’ve reallocated some to OEFs of choice, (JMUTX, PIGIX and some others) In retrospect, so far I’d have done better staying put. I really see these as buy and hold within a certain % of my allocation..
Holdings are as follows and a % of my total port. (I’m looking at RQI as a possible add)
PCI - 5.85%
PTY - 4.92%
GGN - 4.12%
PDI - 3.79%
DSL - 2.06%
MY Current CEF Holdings:
and R48...a thoroughly balanced, diversified, actively-managed portfolio; available for purchase off-forum... :-)
Note: With the markets and my portfolio zooming to new highs, I am probably a little complacent regarding my CEF holdings. Perhaps a thorough review is in order, and will result in a few changes this quarter, and jettisoning one or two of these CEFs!
In order of size within each category:
Debt – Muni = PMF, MUH, NVG, NEV, PMX
Debt – Taxable = PCI, BTZ, PDI, PKO
Equity – Multi-sector = ETV, ETY, QQQX, SCD, ETB, CII, EXD, MCN, CRF
Equity – Midstream Energy = CTR, EMO, KMF, NTG, TYG
Equity – Other Sector = BST, BSTZ, UTF
New since early Nov list = BTZ, CRF, KMF, BSTZ
Gone since early Nov list = BKN
|EHI||2.08%||2019 total return*||27.9%|
* Including cash & leverage
Personal note to FEC Forum posters/readers:
I always considered the CEF Forum was the best on M*, providing a niche area, supported by knowledgeable investors, who were quite civil.
This thread would usually have about 35 posters reply on the old forum; now 14 to date on the new forum. This seems enough to still have a cadre of posters willing to continue making the CEF Forum viable. I will thus continue to post. Useful info is gained from all collectively...thanks.
0.9% PCI taxable
2.7% PCI Tira
16.5% %of totalPV
Recently jettisoned PFL & PFN & DMO & KIO...
Purchased recently PML, NRGX.
PRICES are elevated so I am not looking to increase percentages of CEFs at this time but rotate if i think there is value.
CEFs are 40% of my Total Portfolio Value
PCI (13%), PKO (5.6%),PTY (4%), UTG (4%), PDI (4%), ACP (3%), PFN (2%), UTF (2%), ZTF (1%), NRGX (<1%), SZC (<1%)
Bond OEF 5%
Changes: Bought PFN and UTF early December when they dropped a few percentage points
CEF Holdings January 2020
Muni: PMX MMU VGM
FI: BGB KIO PFL BTZ PCI PDI BTZ PTY DSL
EQUITY: FOF RMT ETY HIE RNP
SALES: DMO tax loss
CEF'S are around 10% of PV. 2019 was my first full year of retirement. I am now using some of the distributions to pay living expenses. I hope to increase my CEF holdings in 2020 if there is a pull back like Dec 2018, when I bought back PDI.
I posted about HPI in Nov. Distributions received now exceed the purchase price.