• 1‑month return (excluding contributions): +2.29%

• Year‑to‑date (YTD) return: +10.66%

• Starting balance (1 Oct): S$2,707,643.64

• Purchases : S$78,073.16

• Market move: +S$62,088.7

• Dividends Received: +S$1,699.81

• Ending balance (31 Oct): S$2,847,805.47

IWDA (Core): 270 shares, approx S$44,658
IB01 (Defensive): 100 shares, approx S$15,345
ERNA (Defensive): 1000 shares, approx S$8,086
Keppel DC REIT (Country Tilt): 1448 shares, approx S$3,242
BTC (Alternatives):0.014464 BTC, approx S$2,000
HMN (SGX: HMN, Country Tilts): 5,100 shares, S$4,768.50

Total deployed in October: S$78,073

October was calm for the Atrahasis Portfolio. More like a gentle climb than a sprint. The portfolio rose modestly without fuss. Under the surface, small moves kept everything balanced. Global stocks edged higher. Singapore REITs held steady. Bonds and cash quietly did their job. Each piece moved at its own pace, helping the whole portfolio inch ahead.

Yes, it lagged slightly behind the S&P 500 this month. And that's okay. The Atrahasis Portfolio isn't built to match pure stock indexes every month. Instead, I aim for balance across stocks, bonds, and REITs. That means accepting slightly slower gains when stocks jump, in exchange for a smoother journey overall. Slow, steady, and balanced is how I like it.

Global stocks: helpful drift, small gains

My core global stock fund, IWDA, moved gently higher during October. I made several small buys throughout the month instead of one big trade. These buys gently nudged IWDA closer to my target of 40%.

Currency shifts between the US dollar and Singapore dollar provided a small boost in October. Some years currency drift helps returns, some years it trims them slightly. I deliberately chose not to hedge currency exposure. Hedging would add complexity and cost. By not hedging, I keep things simple. Over time, currency movements tend to balance out. At least that is the idea 🙂

Singapore REITs: steady footing

My Singapore REITs stayed steady. Income kept flowing. I also made one deliberate choice. I normally miss rights issues when life gets busy. This was the first time I acted. Keppel DC REIT had a rights issue in October and I subscribed to my full allotment plus some excess at S$2.24. It protected my stake from dilution and nudged up my income slice at a price I was happy with. I also added 5,100 units of CapitaLand Ascott Trust at S$0.935.

Bonds and cash: the cushion

Late in the month, I added to my short‑dated bond holdings. I bought more of my 0 to 1 year US Treasury ETF (IB01) and an ultrashort bond fund (ERNA). ERNA holds very short‑term, high quality corporate and government bonds. These adds nudged bonds closer to my 22% target mix. Bonds help keep the portfolio steady during bumpy moves and earn a small return while I wait.

I also hold an Australian cash ETF (AAA). It places money in high‑interest Australian dollar bank deposits with major banks. It pays distributions out as cash instead of reinvesting automatically. My Australian funds are distributing, not accumulating. I plan to reinvest these pay outs quarterly. Fewer small trades. Cleaner records.

If you want to see how all these pieces fit together, take a look at my full Atrahasis Portfolio.

This Atrahasis Portfolio Update covers the moves made in October 2025 up to 18th Oct. There was a bit of everything. Global equities stayed resilient, gold printed fresh records, and crypto sold off. I used the dips: added IWDA on pullbacks to pull Core toward 40%, opened a starter position in CapitaLand Ascott Trust (HMN) to fill the lodging and living sleeve in the SG REIT mix and diversify income beyond retail and office, and picked up a small BTC lot on the dip. Simple moves in the same direction, compounding the plan.

Quick reflections

• Core: Added to IWDA only. Slow, steady march toward 40%.

• Alternatives: No strict band for BTC and Gold. I will nibble BTC on pullbacks. I have no plan to add gold at today’s levels.

• SG REITS: Adding HMN as a Diversifier within the SG REITs sleeve. I am currently heavy in data-centre, industrial, and commercial office names. Adding lodging and living exposure balances that tilt. It brings in a different demand driver (travel and long-stay), a different lease profile (shorter, more dynamic pricing), and a broader geographic mix. The aim is to reduce sector concentration risk, smooth income across cycles. I will size it modestly at first and build only if valuation, balance sheet, and operating trends stay favourable.

• Process: Followed the rule to add IWDA for Core. I avoided the temptation to add other ETFs despite the pullback. The SG REIT add was a deliberate sleeve-level diversification, a small starter in lodging and living (HMN) to broaden the Singapore income mix beyond retail and office. It is sized so it does not slow the push toward 40% Core, and the decision focused on valuation, balance sheet strength, and incremental income diversification.

• Opening value (1 Oct) :  S$2,707,643.60

• Purchases (MTD) :  S$35,907.90

• Market move (MTD):  +S$18,479.80

• Change this month :  +S$54,387.70

• Current value (18 Oct):  S$2,762,031.30

IWDA (Core):190 units, approx S$29,140
BTC‑USD (Alternatives):0.014464 BTC, approx S$2,000
HMN (SGX: HMN, Country Tilts): 5,100 shares, S$4,768.50

Total deployed in October: S$35,907.90

What I am watching into month‑end

• IWDA pullbacks for DCA to lift Core toward 40%.

• BTC behaviour after the recent wobble. Alternatives stays around 12% unless the sleeve moves out of band.

• Short‑duration yields for ERNA/IB01 as I keep rebuilding Defensive on schedule.

The Atrahasis Portfolio began with a shift from speculation to structure.

TL;DR
Early 40s, started investing only in my late 20s. I began by chasing the “next big thing” (more gambling than investing), then moved to SG REITs for steady dividends. Five–six years later I added individual US stocks alongside a modest world ETF. In the last 2–3 years I shifted fully into ETFs—trimmed profitable single‑stock positions (e.g., PLTR, NVDA), left small red ones alone—and, over the past year, I used AI tools to design a simple framework that I can actually follow. This journal is how I keep myself disciplined.

The beginning

My early and mid 20s came and went without real investing. In my late 20s I finally decided to act. I walked into my neighbourhood POEMS branch, opened a brokerage account, and started chasing the next big thing in the local market with little knowledge or experience. In hindsight, it was speculation, not investing.

That realisation pushed me to rethink my approach and look for steadier ways to build a portfolio. I turned to SG REITs after discovering the Dividends Rich Warrior SG blog. Regular cash flow was compelling. I set a first milestone of S$1,000 per month in dividends and watched payouts slowly climb from tens to hundreds. That simple target gave me focus and patience.

With that foundation in place, my confidence grew and my attention shifted beyond Singapore. The US market offered scale and growth, so I began buying individual US stocks while keeping a modest world ETF for balance. I started with familiar names such as Intel and Microsoft, added growth exposure through Palantir and Nvidia, and even dabbled in a few SPACs. This exploration became the spark for what I now call the Atrahasis Portfolio. Some picks worked and some did not. I learned that a handful of winners cannot make up for a strategy that depends on constant decision making. I needed something simpler and more consistent.

To put that lesson into practice, over the last two to three years I moved fully into ETFs for broad, rules‑based exposure. I sold down profitable single‑stock positions, including PLTR and NVDA, and left smaller losing positions alone rather than committing more capital.

Getting structured (and why I’m writing)

In the past year I decided to get more organised. I worked with AI tools to pressure‑test and shape a simple allocation that fits my risk tolerance and behaviour. It will not suit everyone, but it works for me. This journal keeps the rules visible and holds me accountable.

Portfolio preview

This is the broad shape I am working with. Details will live on the Portfolio page and in the monthly updates. The Atrahasis portfolio does not include CPF nor Property.

Notes:
High-level breakdown: roughly two-thirds equity risk, one-quarter defensive ballast, and a small alternatives sleeve for diversification and optionality.

What to expect

Short monthly updates, a clear view of the portfolio when I am ready to share it, and the small lessons I pick up along the way. Singapore specifics included. Wins and mistakes included.

Thanks for reading. Let us see where this goes