Users who want to import their portfolio from the "Portfolio Performance" program to Parqet often notice: stock splits are applied twice. In this article, we explain why this happens and what we can do about it.
Stock Splits in Parqet
A stock split in Parqet is entered centrally. Splits automatically appear in our portfolio activities and shares are calculated accordingly. The historical activities remain unchanged, because even though a single Apple share bought in 2019 is now 4 shares today, only one share was bought in 2019. So the history is preserved and splits are "applied" accordingly when calculating shares. More about this in the product announcement about splits in Parqet.
Stock Splits in Portfolio Performance
Unfortunately, stock splits in Portfolio Performance are destructive and alter the price history. If we export our data from Portfolio Performance to a CSV and open it, we will see that purchases before the split are now incorrect. They are "split-adjusted" and no longer match our broker's history. The developers of Portfolio Performance also recognize that this needs to be changed within Portfolio Performance. Unfortunately, this problem has not yet been fixed, which brings us to the impact on Parqet.
The Problem
When importing from Portfolio Performance, "split-adjusted" activities from Portfolio Performance are imported into Parqet. And Parqet then applies splits to these activities again. This leads to double split bookings and incorrect values in the Parqet portfolio.
What Can We Do?
The simplest solution: we reverse the splits in Portfolio Performance. To do this, we can currently use one of the following options:
- Enter an opposite split. We have a 4:1 split on Apple? Now we book a 1:4 split on the same date.
- Or we open the exported CSV file and adjust the transaction values individually. This only makes sense if we're dealing with a manageable number of transactions.
- Or we adjust our Parqet activities after the incorrect values have been imported.
Option 1 definitely requires the least amount of time. We very much hope to be able to import correct data from Portfolio Performance in the future to spare our users these workarounds. If this article hasn't helped you with this problem, feel free to reach out in our fantastic community.