April 2026 portfolio update
19 out of 21 positions up, the income portfolio bounces back
Dear reader,
Markets were volatile. Tariffs dominated headlines. Oil spiked above $107. Most investors watched their portfolios wobble and did nothing. April was a good month. After a bruising March tariff fears, Middle East volatility, and rate repricing the portfolio bounced back in earnest. Nineteen out of 21 positions ended the month higher. The income strategy held firm when it mattered, and now it’s starting to reward patience.
This portfolio returned gains in 19 out of 21 positions.
In this month’s update you’ll find everything you need to understand exactly what happened and why:
Portfolio performance — what moved, what didn’t, and what it means
Live portfolio holdings — every position, entry price, current price, and gain/loss in one place
Updates on individual holdings — the winners, the laggards, and the honest commentary on both
Dividend calendar — so you know exactly when income is hitting your account
If you want to see how a high-yield, income-first strategy actually performs through geopolitical shocks and rate uncertainty, you’re in the right place.
Let’s get into it.
The Macro Backdrop
Two forces continued to shape markets in April:
1. Iran Conflict & Energy Prices
The US-Iran conflict showed no sign of resolution. Brent crude briefly traded above $107 a barrel as Iran doubled down on Strait of Hormuz restrictions and rejected US proposals to reopen the waterway. The IEA described the situation as the greatest global energy security challenge in history. For a portfolio tilted toward infrastructure and renewables, this backdrop was broadly supportive, higher energy prices feed directly into the revenues of wind and solar assets.
2. Rate Expectations Repriced Again
UK inflation came in at 3.3% in March, above expectations, driven largely by energy costs. Markets scaled back their rate cut expectations for 2026, keeping pressure on rate-sensitive sectors like commercial property and housebuilders. The Bank of England held rates steady. The FTSE 100 closed April roughly 5% below its late-February record high, though energy stocks provided meaningful ballast.
Neither of these dynamics has changed the fundamental quality of what I own. They do, however, continue to explain why some positions lag and why the defensive income core keeps earning its place.
What if your portfolio paid you 8.2% a year in dividends, while still holding growth stocks with real upside?
That’s exactly what this portfolio is built to do. 21 selected positions spanning infrastructure, renewables, healthcare property, and high-conviction growth plays designed to generate a reliable, growing income stream without sacrificing capital appreciation. Every month I publish the full portfolio: every holding, every entry price, every gain and loss, completely transparent. No hiding the bad months, no cherry-picking the winners. Plus stock-by-stock commentary, a dividend calendar so your income is never a surprise, and a watchlist of what I’m buying next.
