Former iPIG Portfolio - Quarter End Update - 30-JUN-2023

Another quarter has come and gone, and the former iPIG portfolio has delivered upon its key objective, despite (or perhaps because of) complete negligence on my part. With no buy and no sell transactions on my part during the quarter, the account’s balance grew by about 8.24% to a preliminary quarter total of $122,560.58. That slightly outpaced the total return of SPY with dividends reinvested (around 6.24%) for the quarter. Of course, one quarter’s return isn’t really worth celebrating, as what the market giveth, it can easily taketh away.

More importantly, the account received $819.20 in dividend-like income for the quarter, up nearly 10.3% from the $742.83 it received in the same quarter last year. The account now has a little over $1,200 in cash, and its dividend income is trending to likely stay ahead of inflation for 2023, unless there’s a big surge in inflation or some substantial dividend cuts affecting the account in the back half. Income growth ahead of inflation, after all, was the original design target of the portfolio, and it’s nice to see continued progress on that front.

Unfortunately, the brokerage where the former iPIG portfolio was held got bought out and transferred to another brokerage house. I’m not yet familiar enough with the new broker’s reporting to easily get the type of insights from it that I shared with last quarter’s report.

Needless to say, the spring cleaning I mentioned last quarter ( Former iPIG Portfolio - Quarter End Update - 31-MAR-2023 ) didn’t get done. Maybe the combination of the larger cash balance plus the interest rate risks that still exist will spur me on to actually make it happen this quarter.

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