Performance
+21.07%
Strategy, after fees, since April 27, 2026
- S&P 500
- +5.79%
Traded with proprietary capital. Results through October 31, 2026.
Request a CallGrowth of $1,000,000
- Strategy, after fees $1,210,654
- S&P 500 $1,057,918
$1,000,000 invested at the April 24, 2026 close, the last close before the first purchases.
After-fee results reflect the deduction of a model management fee and performance allocation, at the fund’s standard rates, and estimated fund expenses. None of these were actually charged to the proprietary account, which bore only trading commissions, margin interest and market data fees. Because the expense figure is an estimate, the fund’s actual expenses could be higher or lower, and an investor’s actual returns could be lower than the after-fee results shown.
Returns
As of October 31, 2026
| Return | 1 month | 3 months | Year to date | Since inceptionApril 27, 2026 |
|---|---|---|---|---|
| Strategy, after fees | 8.27% | 5.78% | 21.07% | 21.07% |
| S&P 500 | −0.93% | 1.21% | 5.79% | 5.79% |
| Period | Strategy, after fees | S&P 500 |
|---|---|---|
| 1 month | 8.27% | −0.93% |
| 3 months | 5.78% | 1.21% |
| Year to date | 21.07% | 5.79% |
| Since inception, April 27, 2026 | 21.07% | 5.79% |
Monthly
| 2026 | Apr* | May | Jun | Jul | Aug | Sep | Oct | Year to date |
|---|---|---|---|---|---|---|---|---|
| Strategy, after fees | 5.56% | −0.37% | 4.12% | 4.52% | 5.51% | −7.41% | 8.27% | 21.07% |
| S&P 500 | 0.61% | 5.15% | −1.06% | −0.13% | 2.62% | −0.45% | −0.93% | 5.79% |
| 2026 | Strategy, after fees | S&P 500 |
|---|---|---|
| April* | 5.56% | 0.61% |
| May | −0.37% | 5.15% |
| June | 4.12% | −1.06% |
| July | 4.52% | −0.13% |
| August | 5.51% | 2.62% |
| September | −7.41% | −0.45% |
| October | 8.27% | −0.93% |
| Year to date | 21.07% | 5.79% |
*April is from April 27, 2026, when the first purchases were made.
We review the record in detail on an introductory call.
Request a CallNotes
Results are for the firm’s proprietary account, which has run the strategy since April 27, 2026. Returns are time-weighted, include dividends and are after trading commissions, margin interest and market data fees. Since October 19, 2026, the account has borrowed on margin, which magnifies both gains and losses. The account built its portfolio in stages through September 8, 2026, as capital was added; the process changed during the period (May, September and October 2026); and some purchases reflected the portfolio manager’s discretion.
The S&P 500 is an unmanaged index shown for comparison only; its returns do not reflect fees or expenses, and an investor cannot invest directly in an index. Its returns here are price returns, which leave out dividends, and it includes sectors the strategy excludes.
Periods shorter than one year are not annualized. Figures are unaudited and may be revised; an independent CPA firm has been engaged to examine the record through December 31, 2026. Past performance does not guarantee future results. Nothing on this page is an offer to sell or a solicitation of an offer to buy any security.