2% : Hock Lian Seng

(https://hlsgroup.com.sg/)

S : HRnetGroup

(https://www.hrnetgroup.com/)

S : Boustead Singapore

(https://boustead.sg/)

S : Riverstone

(https://www.riverstone.com.my/)

S : Golden Agri-Resources

(https://www.goldenagri.com.sg/)

S : Kimly Group

(https://kimlygroup.sg/)

S : The Hour Glass

(https://www.thehourglass.com/)

1% : Haw Par Corp

(https://www.hawpar.com/)

DEFENSE

XL : Phillip Money Market Fund

(https://phillipfunds.com/phillip-sgd-money-market-fund/)

10% : LionGlobal Short Duration Bond Active ETF

(https://www.lionglobalinvestors.com/en/fund-lionglobal-short-duration-bond-fund-active-etf-sgd-class.html)

2% : iShares USD Asia High Yield Bond ETF

(https://www.blackrock.com/sg/en/products/251722/ishares-barclays-usd-asia-high-yield-bond-index-etf)

(S : 1%-2% • M : 3%-4% • L : 5%-6% • XL : 7% and more)

Here are all of Flow’s holdings as of April 27, 2026, comprising publicly listed businesses (offense), and bond & money market funds (defense), sorted by category and portfolio weight :

OFFENSE

XL : LHN Group

(https://www.lhngroup.com/)

XL : Keppel Office Real Estate US REIT

(https://www.koreusreit.com/)

L : Genting Singapore

(https://gentingsingapore.com/#!/en)

5% : Venture Corp

(https://www.venture.com.sg/)

L : Stoneweg Europe Stapled Trust

(https://stonewegeuropestapledtrust.com.sg/)

M : Centurion Corp

(https://centurioncorp.com.sg/)

M : PC Partner

(https://www.pcpartner.com/en/index.php)

M : SBS Transit

(https://www.sbstransit.com.sg/)

3% : Delfi Ltd

(https://www.delfilimited.com/)

S : Frencken

(https://www.frenckengroup.com/)

S : Propnex Ltd

(https://www.propnex.com/)