The hoard · public ledger

EVERY SHARE. EVERY PAYOUT. EVERY CUT.

Updated when cash lands, not when it's announced. Targets are mine, not the market's. If a fund cuts, it goes on this page the same day.

Next twelve months

£37,379

£3,115 a month · £102 a day

PROGRESS TO LEVEL 5

Freedom number £51,499 a year · ETA Jul 2029 · two months earlier than January's forecast
72.6% COVERED
TickerHoldingSharesTargetRatePays£ / year
LGENLegal & General7 years on record · 0 cuts · +3.7%/yr126,000130,00021.98pJun · Sep£27,695
SMIFSelect Monthly Income FundComplete7 years on record · 0 cuts · +2.4%/yr100,000100,0006.75pMonthly£6,750
RECIReal Estate Credit Investments7 years on record · 0 cuts · +0.0%/yr15,77070,00012.0pQuarterly£1,892
NCYFCQS New City High Yield Fund7 years on record · 0 cuts · +0.2%/yr23,050172,0004.52pQuarterly£1,042
LGEN£27,695
Legal & General7 years on record · 0 cuts · +3.7%/yr
Shares126,000Target130,000Rate21.98pPaysJun · Sep
SMIF£6,750
Select Monthly Income FundComplete7 years on record · 0 cuts · +2.4%/yr
Shares100,000Target100,000Rate6.75pPaysMonthly
RECI£1,892
Real Estate Credit Investments7 years on record · 0 cuts · +0.0%/yr
Shares15,770Target70,000Rate12.0pPaysQuarterly
NCYF£1,042
CQS New City High Yield Fund7 years on record · 0 cuts · +0.2%/yr
Shares23,050Target172,000Rate4.52pPaysQuarterly

PAYMENT CALENDAR

Fat months, thin months. Bar height is what that payment projects to.
JAN
FEB
MAR
APR
MAY
JUN
JUL
AUG
SEP
OCT
NOV
DEC
SMIFLGENNCYFRECIThis month in ink.
Next ex-div deadline

Nothing lands between Sep 4 and RECI's Sep 25 ex-div, so nothing new buys into that quarter. Next cash: LGEN ~£7,865 on Sep 25 — the same day, too late.

LAST LANDED

SMIF · Sep 2026£500
NCYF · Aug 2026£350
SMIF · Jul 2026£500
RECI · Jul 2026£251
SMIF · Jul 2026£493
Banked cash, newest first — what reached the account, not what was announced.
The cost of the machine

£34,119 DEPLOYED SINCE THE LEDGER BEGAN

Priced buys only — covers 18% of shares held. The opening LGEN and SMIF balances, RECI's first two buys and the June SMIF top-up were never priced, so this is a floor, not the true all-time figure.

LGENcost not recorded0% priced
SMIF

£14,981

17% priced
RECI

£8,703

47% priced
NCYF

£12,014

100% priced · 9% yield on cost

2026 flywheel: 19% — of this year's buys with a recorded funding split, the share paid for by dividends rather than new money.

The honest bit

CUTS, MISTAKES AND THINGS I GOT WRONG

A ledger that only shows wins is a brochure. Every closed year on record for these four holdings is below — the cuts, and the years a declared total went down even when the commitment behind it didn't. The record is short on purpose: it only goes back as far as an RNS or a trust's own dividend page could be checked.

LGEN · cuts on record

0 CUTS

7 years sourced · 2019-2025 · paying since 1998
SMIF · cuts on record

0 CUTS

7 years sourced · 2019-2025 · paying since 2014The declared total did dip in 2020, 2022, 2025 - the variable top-up shrank, the base commitment behind it never moved.
RECI · cuts on record

0 CUTS

7 years sourced · 2019-2025 · paying since 2017
NCYF · cuts on record

0 CUTS

7 years sourced · 2019-2025 · paying since 2007

Trades I’d take back: nothing to confess yet. When there is, it goes here first.

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