My Investment Portfolio (September 2026)

STI ended 3rd quarter of the year at 5675 points, down around 1.4% for the month. September had again been a weak month for the markets as concerns on interest rate hike due to inflation and high oil price. Eventually, US Fed raised its benchmark interest rate for the first time in three years. Volatility in the markets had increased as compared to last month.

For my top 30 holdings this month, most holdings tracked the market down. GuocoLand and F&N returned to the list, replacing Multi-Chem and SingTel. Main contributors include Hong Fok and Frencken. Detractors include Singapore Land Group, SGX, UOL and Straits Trading.

I have bought the following companies from the market this month - Advanced, Avi-Tech, Banyan Group, Bonvests, Brook Crompton, Bund Center, Captii, City Developments, Credit Bureau Asia, Delfi, F&N, Far East Orchard, Frasers Property, GuocoLand, Haw Par, Hiap Hoe, HL Global, Ho Bee Land, Hock Lian Seng, Hong Fok, Hong Leong Finance, Hotel Grand Central, Hotel Royal, Hotung, IFS Capital, Indofood Agri, Jardine C&C, Jardine Matheson, Karin, Koda, KSH, Metro, Mewah, MTQ, New Toyo, OUE, Overseas Education, PNE Industries, Qian Hu, Raffles Medical, Riverstone, Sing Holdings, Singapura Finance, Stamford Land, Straco, Straits Trading, Tuan Sing, Tye Soon, UOA, Vicplas, Wing Tai, Wong Fong and Yeo Hiap Seng. No sale trade was done.

I have participated in the following scrip dividend schemes - CSE Global, Global Investments and Jardine Matheson.

Next month, companies with financial year ending 30 June 2026 will be holding their AGMs. As markets had corrected quite a bit this month after hitting all-time highs, I will continue to invest at a much slower pace. As usual, I will be more conservative in terms of portfolio positioning and will also be holding more cash.

My S'pore Stock Portfolio - Top Holdings, cash investment only (correct as at 30 September 2026)

Top 30 Holdings (Sing$ Denominated shares)

1. iFAST

2. The Hour Glass

3. UOB Kay Hian

4. Hong Fok

5. Hong Leong Finance

6. Sing Investment & Finance

7. Hong Leong Asia

8. DBS

9. Singapore Land Group

10. SGX

11. Hotel Properties

12. Wing Tai

13. Frencken

14. Stamford Land

15. Bonvests

16. OCBC

17. EnGro

18. Great Eastern

19. UOL

20. ST Engineering

21. Sembcorp Industries

22. Hotel Grand Central

23. Jardine C&C

24. SBS Transit

25. GuocoLand

26. Bukit Sembawang Estates

27. Singapura Finance

28. Far East Orchard

29. Straits Trading

30. F&N

Top Holdings (US$ Denominated shares)

1. Hongkong Land
2. Jardine Matheson

3. TJ Da Ren Tang
4. DFI Retail Group

Top Holdings (HK$ Denominated shares)

1. Tan Chong International

2. Shangri-La Asia

Top 5 Holdings (CPF OA investment)
1. Streettracks STI ETF

2. Keppel Ltd
3. CapitaLand Integrated Commercial Trust

4. CapitaLand Ascendas REIT
5. Penguin International

My Hong Kong Stock Portfolio
1. Peace Mark Holdings - Under Voluntary Liquidation
2. Alpha Professional Holdings Ltd (formerly known as Z-Obee Holdings Ltd)

My Australia Stock Portfolio
1. GPS Alliance Holdings Limited

My Unlisted Company Portfolio
1. Iconic Global Limited
2. Dongshan Group Ltd (formerly known as Greatronic Limited)
3. General Magnetics
4. Fastech Synergy
5. Memory Devices
6. Jurong Tech - In liquidation - Compulsory winding up (Insolvency)
7. FM Holdings
8. FerroChina - Under Liquidation
9. FirstLink Investments
10. NEL Group
11. Jets Technics
12. Hongwei Technologies Limited (In Provisional Liquidation)
13. FDS Networks Group
14. China Oilfield Technology
15. China Milk Products Group - Under Liquidation
16. Pacific Healthcare
17. Fung Choi Media - In Liquidation
18. Europtronic Group - In liquidation - Compulsory winding up (Insolvency)
19. Attilan Group
20. Equatoriale Holdings  

21. China Haida

22. Chaswood Resources

My Unit Trust Asset Allocation

Dear all,

After nearly one year, I guess it is time for another summary on my unit trust asset allocation. You can refer to my previous one at the link below:

https://ghchua.blogspot.com/2025/09/my-unit-trust-asset-allocation.html

For asset classes, I have done nothing much other than consistently adding onto the list of unit trusts that I had been holding for CPF Investments. I have been a bit more aggressive for the past one year, adding onto my Global, Asia Pacific Excluding Japan and Emerging Markets equity funds on market corrections. Having said that, I have been adding onto my short duration bond fixed income fund too. This had resulted in a slightly increased equity allocation to above 80%. For balanced funds, I have continued to add onto them using CPF-SA monies.

For geographic exposure, Emerging Markets, Japan, Singapore, Taiwan and Korea funds were the out performers in the portfolio. Asia Pacific Excluding Japan and Asia excluding Japan funds also did well. Laggards include single country equity funds with exposure to India and Indonesia.

Going forward, my strategy is to add onto existing funds, while continue to maintain a more defensive positioning in terms of asset allocation. I would not commit into adding more to equity or fixed income funds, as expectations on higher interest rate might continue to pressure fixed income funds, especially on the longer end. The key is still to keep fixed income duration exposure short, which means I will still be looking at short duration bond fixed income funds. For equity funds, the key is to avoid concentration risk which means looking at regional and/or global equity instead of single country funds.

Asset Class

Equity 81.00%

Balanced 12.64%

Fixed Income 6.36%

Geographic

Global 18.36%

Asia Pacific Excluding Japan 14.97%

Emerging Markets 14.78%

Japan 12.63%

Singapore 8.93%

US 7.58%

Asia excluding Japan 6.19%

Taiwan 5.41%

Europe including UK 2.78%

Korea 2.75%

Thailand 1.68%

India 1.49%

Malaysia 1.25%

Indonesia 1.20%

Welcome comments (if any) on my unit trust asset allocation.