Dugong Management 2025 Q4 Portfolio Update - $1 Million Dividend Singapore Portfolio

 

2025 Q4 Portfolio - $1 Million Mark

The final quarter of 2025 has been an eventful quarter. I added an additional ~$100k of my favourite Singapore dividend stock (DBS) to the overall portfolio, officially exceeding $1 million for my dividend portfolio. I will be getting at least ~$50k in dividend payouts in 2026 with my current portfolio, which is pretty ideal. 

With the US Feds lowering interest rates in view of the high unemployment rate and slowing US economy, hopefully, Singapore REITs will find a rebound in 2026. Singapore REITs are still at a very attractive price with amazing yields currently. Dividend investors should highly consider aggressively adding these blue-chip high-yield (~5-6% for Ascendas, Mapletree Industrial Trust, Mapletree Logistics Trust, etc) REITs to their dividend portfolio if they have any spare cash. 

As usual, I would highly recommend DBS stock as the top dividend stock in Singapore for dividend investors heading into 2026. Their strong balance sheet and diversification/investment into neighbouring Asian countries to strengthen their income and maintain their position as the top bank in Asia is remarkable. Coupled with their consistently strong dividend and dividend growth rate, it is the undisputed top dividend stock for the next few years. 

Long Term Goals
I will be divesting most or all of my bonds in 2026 to switch to dividend stocks. I prefer dividend stocks over bonds in the long run due to the dividend yield growth rate over the years, compared to bonds' stable ~4-5% yields. 

I plan to continue accumulating DBS stock over the next five years until I reach the $2 million mark in 2030. I am aiming for ~6-7% dividend yield for a $2 million dividend portfolio in 2030, which would give my parents an estimated ~$10k per month in dividend payouts. I am still considering which other dividend stock I should add to my portfolio once I exceed $2 million in 2030. Currently, my top choice would be OCBC for its good, stable dividend yield compared to UOB, but who knows how things might change by then. 

As of 14 Dec 2025: 

Portfolio: 

Total cost of portfolio as of 14 Dec 2025: $1,099,727.96 

Total market value of portfolio as of 14 Dec 2025: $1,077,141.86 (-2.05%)

Portfolio breakdown:

Stocks (86.36%)
1. Mapletree Industrial Trust 
- Total cost: $404,606.19
- Total market value: $362,761.00 (-10.34%)
- 178,700 shares with an average purchase price of $2.26

2. Mapletree Logistics Trust 
- Total cost: $173,440.21
- Total market value: $168,474.00 (-2.86%)
- 130,600 shares with an average purchase price of $1.33

3. DBS
- Total cost: $147,168.45
- Total market value: $152,295.68 (+3.49%)    
- 2767 shares with an average purchase price of $53.19

4. Capitaland Ascendas REIT
- Total cost: $88,573.88
- Total market value: $88,960.00 (+0.44%)
- 32,000 shares with an average purchase price of $2.77 

5. CapitaLand Integrated Commercial Trust
- Total cost: $71,803.52
- Total market value: $80,152.00 (+11.63%)
- 34,400 shares with an average purchase price of $2.09

6. OCBC
- Total cost: $43,937.35 
- Total market value: $55,238.40 (+20.80%)
- 2857 shares with an average purchase price of $15.38

7. SGX
- Total cost: $13,910.44
- Total market value: $19,260.78 (+38.46%)
- 1137 shares with an average purchase price of $12.23

BONDS (13.64%)
1. $150,000 of Bonds 
- SIGNATURE Bond (6.21%) 
- BGF China Bond (5.20%) 
- Fullerton Heritage (B) Bond (5.63%) 
- Fullerton Heritage (B1) Bond (5.56%)
- ASTREA8A Bond (4.35%) 

2025 Dividend History (Excluding Bonds) 

2025 Q1: $11,415.57

2025 Q2: $8,576.09 

2025 Q3: $14,201.64

2025 Q4: $8,550.27

2025 Total Dividend: $42,743.57

Hope everyone had an amazing 2025. 

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