Every six months we write a letter to our investors to explain what they own and why they own it. Our objective is to provide the information we would want if our positions were reversed.
The stock-specific portion is only available for current clients and premium blog subscribers on a 45-day delay.
We also publish a blog most weeks, which you can read on Substack.
Letters
2026-10-1: Fall 2026 Portfolio Update
2026-4-1: Spring 2026 Portfolio Update
2025-10-1: Fall 2025 Portfolio Update
2025-4-1: Spring 2025 Portfolio Update
2024-9-30: Fall 2024 Portfolio Update
2024-3-30: Spring 2024 Portfolio Update
2023-9-30: Fall 2023 Portfolio Update
2023-4-1: Spring 2023 Portfolio Update
2022-10-1: Fall 2022 Portfolio Update
2022-4-1: Spring 2022 Portfolio Update
2021-10-1: Fall 2021 Portfolio Update
2021-4-1: Spring 2021 Portfolio Update
2020-10-1: Fall 2020 Portfolio Update
202-6-5: Fundamentals (Updated Fee Structure)
2020-3-31: Spring 2020 Portfolio Update
2020-1-22: Principles of Investing Presentation
2019-10-1: Fall 2019 Portfolio Update
2019-10-1: Fundamentals
2019-6-5: Summer 2019 Portfolio Update
2019-4-29: Spring 2019 Portfolio Update
2018-8-9: Summer 2018 Portfolio Update
2018-1-26: Winter 2018 Portfolio Update
2017-11-16: 19 Questions To Ask Your Investment Advisor
Want to learn more?
