Four Months In — The Full Scoreboard

Here is everything; unedited, unrounded, nothing omitted.

Eight positions.

Total cost deployed: SAR33,463.

Market value as of 5 June 2026: SAR36,214.

Unrealised gain: SAR2,751.

Portfolio return: +8.2%.

Position by position:

258 shares at SAR26.09.

Current price: SAR 7.16.

Unrealised gain: SAR276 (+4.1%).

The foundation position. Dividend income remains predictable and the balance sheet remains among the strongest globally.

250 shares at SAR 4.55.

Current price: SAR16.18.

Unrealised gain: SAR408 (+11.2%).

The highest-yielding income position in the portfolio.

Up on both capital appreciation and dividend income.

770 units at SAR14.00.

Current price: SAR16.80.

Unrealised gain: SAR2,156 (+20.0%).

The standout performer.

US equity exposure, denominated in SAR, listed on Tadawul.

This position alone accounts for approximately 78% of the portfolio’s total unrealised gain.

348 units at SAR9.50.

Current price: SAR9.61.

Unrealised gain: SAR38 (+1.2%).

Broad market exposure.

Steady and uncomplicated.

219 units at SAR10.50.

Current price: SAR 10.60.

Unrealised gain: SAR22 (+0.9%).

Fixed income exposure.

Doing exactly what it was purchased to do.

41 shares at SAR66.85.

Current price: SAR66.65.

Unrealised loss: SAR8 (-0.3%).

Effectively flat.

Collected the dividend.

Holding.

52 shares at SAR41.63.

Current price: SAR39.16.

Unrealised loss: SAR128 (-5.9%).

The largest unrealised loss in the portfolio.

The bank remains systemically important and profitable, but market sentiment has weakened.

I am adding selectively to this position.

41 shares at SAR43.97.

Current price: SAR43.68.

Unrealised loss: SAR12 (-0.7%).

Effectively flat.

The company maintains its fixed quarterly dividend policy through Q3 2027.

SAR359.14 received across six dividend payments between April and June 2026.

The income arrived without any action on my part.

The standing order ran.

The companies paid.

The reinvestment decision was made once, into Aramco, and executed in under four minutes.

That is the system working as designed.

One of the most underrated aspects of dividend investing is not the size of the payment.

It is the absence of effort required once the system is in place.

In Issue 10, I wrote about getting the position sizing wrong.

I allocated capital based on psychological comfort rather than yield or conviction.

Jarir, the highest-yielding position in the portfolio, received one of the smaller allocations.

That was backwards.

The correction is now in place.

Reinvestment priority is:

The ETF positions continue to grow through the monthly standing order.

The objective is not perfection.

The objective is continuous improvement.

The TASI sits at approximately 10,929 as of this writing, having recovered meaningfully from the April weakness associated with regional geopolitical concerns.

My portfolio participated in the decline.

It also participated in the recovery.

What did not change was the dividend income.

The companies continued operating.

The dividends continued arriving.

The distinction between market prices and income generation is the foundation of this strategy.

Price volatility is temporary.

Cash flow is what ultimately compounds.

Four months.

Eight positions.

Five income-producing holdings.

One standout performer.

One meaningful unrealised loss that I continue to add to.

One structural allocation mistake corrected.

Current results:

None of these numbers are life-changing.

That is the point.

Compounding never looks impressive at the beginning.

The first four months are not supposed to be exciting.

They are supposed to prove that the system works.

So far, it does.

Month 5 has two objectives:

Deploy remaining cash into SNB and Jarir while valuations remain attractive.

Grow The Quiet Compounder to its first 100 subscribers.

One compounds capital.

The other compounds audience.

Both are long games.

Next issue: Real Estate vs Equities — Why GCC Expats Are Finally Moving, and What Took So Long.

— The Quiet Compounder

Traveling soon? Avoid surprise roaming charges with Saily. Get affordable data plans in over 200 destinations worldwide.

Download the Saily app, select your destination, and activate instantly, no local SIM card needed.

Saily Ultra members enjoy exclusive travel perks including airport lounge access and fast-track services.

Plus, every purchase earns you credits toward your next plan. Built-in ad blocker and security features reduce data usage by up to 28.6%, saving you even more.

Get 24/7 support and a full refund if your device isn't compatible.

Travel smart, stay connected.

Download SAILY in your app store and use code newsletter15 at checkout to get an exclusive 15% off your first purchase.

Get 15% off now

^{Chat support available 24/7. Get a full refund if your device isn’t eSIM compatible.}