8.13.2024

More stability at the expense of dividends

Yesterday we sold off all holdings in TriplePoint Venture Growth BDC Corp. Ordinary share (TPVG). (TPVG) current yield is 22.79% but having a holding that has steadily lost value since 2022 is not an option.

We replaced (TPVG) with Ares Capital Corporation Common Stock (ARCC), British American Tobacco Industries, p.l.c. Common Stock ADR (BTI), NNN REIT, Inc. Common Stock (NNN) and Oxford Lane Capital Corp. Common Stock (OXLC). This reallocation reduced our annual dividend by $639 because all the acquisitions we made except (OXLC) have a current yield of less than 10%.

Hopefully the portfolio as a whole will be more stable in terms of value.

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