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March portfolio income update

How Portfolio Income Was Built in March

Apr 9, 2026 | Performance

This monthly update focuses on one of the most important parts of every financial plan: steady, repeatable income.

Each month, I break down how the Income Bucket is positioned, what’s driving results, and how each part of the portfolio works together to support long-term planning.

Markets remained volatile in March, with continued uncertainty around interest rates, inflation, and economic growth. In that environment, consistent income becomes even more important. The portfolio income is designed to stay resilient through that noise.

For March, the portfolio generated an annualized yield of 14.69%, bringing the year-to-date average to 14.19%. This reflects steady income generation across multiple investment types, rather than reliance on any single source.

Private Real Estate

Private real estate remains one of the core anchors of the income bucket. These investments provide relatively stable distributions tied to Private real estate continues to serve as a core anchor within the Income Bucket.

Current holdings include:

  • BREIT1 (Blackstone Real Estate Income Trust)
  • GCREIT2 (Nuveen Global Cities REIT)

These strategies focus on income-producing properties with durable demand, including:

  • Multifamily housing
  • Industrial and logistics assets
  • Data centers and infrastructure-related real estate

BREIT remains concentrated in these high-demand sectors, while GCREIT provides global diversification across North America, Europe, and Asia-Pacific .

This sleeve provides:

  • Predictable cash flow
  • Lower volatility than public REITs
  • Income tied to long-term leases

As a result, private real estate continues to provide stability within the broader income strategy.

Private Credit Income

Private credit remains a major contributor to portfolio income.

Current holdings include:

  • BCRED3 (Blackstone Private Credit Fund)
  • OCIC5 (Blue Owl Credit Income Company)
  • CTAC4 (Carlyle Tactical Private Credit Fund)

These investments focus on senior secured, floating-rate loans to established companies.

BCRED continues to generate income supported by a portfolio that is approximately 97% senior secured and 97% floating rate .

Private credit works well in the current environment because it offers:

  • Higher income potential than traditional bonds
  • Floating-rate exposure tied to interest rates
  • Asset-backed loan structures

Combined with real estate, this sleeve provides a strong foundation of income with a different risk profile.

ETFs

TThe ETF sleeve adds liquidity, flexibility, and additional income to the portfolio.

Current holdings include:

  • QQQI7
  • CAIE8
  • CAIQ9
  • PCMM6

These strategies generate income through:

  • Option overlays
  • Structured note exposure
  • Credit-based income (CLOs)

This sleeve plays an important role by:

Allowing for tactical adjustments

Smoothing income over time

Providing diversification across strategies

Structured Income Notes

Structured income notes continue to be one of the most active parts of the Income Bucket.

These investments are designed with:

  • Defined maturities
  • Set call features
  • Contractual income payments

Changes in March 2026:

  • 2 notes were called with Barclays
  • New notes were added with yields in the mid-to-high teens
  • The overall portfolio continues to rotate as notes mature or are called

Because these instruments are actively managed and frequently updated, they provide an opportunity to capture higher income levels while maintaining defined structures.

Closing Thoughts

March’s 14.69% annualized yield reflects continued strong income generation across all four portfolio sleeves.

More importantly, the 14.19% year-to-date yield highlights the consistency of the overall strategy.

Income will vary from month to month due to:

  • Distribution timing
  • ETF payouts
  • Structured note activity
  • Private fund distributions

However, the structure of the Income Bucket is designed to reduce reliance on any single source.

The focus remains the same:

Build diversified, repeatable income streams that can hold up across different market environments.

If you’d like to review how your income strategy is positioned or see how these results fit into your broader plan, I’m always happy to help. For more insights on how these strategies can support your goals, visit the 9M Investments and get a free assessment.

1. https://www.breit.com/performance/

2. https://www.nuveen.com/gcreit/performance

3. https://www.bcred.com/performance

4. https://www.carlyle.com/ctac

5. https://ocic.com

6. https://bondbloxxetf.com/bondbloxx-private-credit-clo-etf/

7. https://neosfunds.com/qqqi/

8. https://www.calamos.com/funds/etf/calamos-autocallable-income-caie/

9. https://www.calamos.com/funds/etf/calamos-nasdaq-autocallable-income-caiq/

This content is developed from sources believed to be providing accurate information. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security.

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