The agents are real. The money is paper. The P&L is honest.
The scoreboard
Day 95 of the fund
Fund
S&P 500
Alpha
Since launch
+3.02%
+1.43%
+160 bps
Last day · Sep 2
+0.07%
+0.46%
▼ -39 bps
NAV $1.03M · target SPY + 500 bps/yr
Top contributor to excess since launch: MSFT
+68 bps
Positions
Live book · 15 names
Contribution to excess vs S&P (active) — the bets driving the edge. Shown as active bps, with total-return bps in parentheses; the SPY core nets to ~0 active.
Top contributors
MSFT
+68 bps
(+73 bps total · 29.4%)
V
+49 bps
(+54 bps total · 18.1%)
BMY
+41 bps
(+45 bps total · 18.6%)
Top detractors
GOOGL
-16 bps
(-13 bps total · -5.1%)
ETN
-16 bps
(-12 bps total · -5.0%)
SPY
-15 bps
(+77 bps total · 1.2%)
| Ticker |
Sector |
Weight |
Qty |
Avg cost |
Last |
MV |
Unrealized |
Realized |
Contrib total |
Active vs SPY |
|
SPY
SPDR S&P 500 ETF Trust
|
Index ETF |
64.55% |
869 |
$756.48 |
$765.30
|
$665.0K |
$7,664
1.17%
|
-$4,813
|
+77 bps
|
-15 bps
|
|
V
Visa Inc.
|
Financials |
3.44% |
94 |
$320.34 |
$378.40
|
$35.4K |
$5,440
18.13%
|
—
|
+54 bps
|
+49 bps
|
|
MSFT
Microsoft Corporation
|
Information Technology |
3.11% |
65 |
$383.84 |
$496.82
|
$32.1K |
$7,291
29.44%
|
—
|
+73 bps
|
+68 bps
|
|
BMY
Bristol-Myers Squibb Company
|
Health Care |
2.77% |
427 |
$56.40 |
$66.92
|
$28.6K |
$4,490
18.64%
|
—
|
+45 bps
|
+41 bps
|
|
CME
CME Group Inc
|
Financials |
2.56% |
95 |
$263.19 |
$277.77
|
$26.4K |
$1,386
5.54%
|
—
|
+14 bps
|
+10 bps
|
|
SPGI
S&P Global Inc.
|
Financials |
2.44% |
58 |
$429.19 |
$431.71
|
$25.2K |
$147
0.59%
|
—
|
+1 bps
|
-2 bps
|
|
HD
The Home Depot, Inc.
|
Consumer Discretionary |
2.39% |
77 |
$334.43 |
$319.77
|
$24.6K |
-$1,128
-4.38%
|
—
|
-11 bps
|
-15 bps
|
|
GS
The Goldman Sachs Group, Inc.
|
Financials |
2.33% |
24 |
$1034.92 |
$1004.42
|
$24.0K |
-$728
-2.95%
|
—
|
-7 bps
|
-11 bps
|
|
FDX
FedEx Corporation
|
Industrials |
2.30% |
75 |
$324.35 |
$316.54
|
$23.7K |
-$585
-2.41%
|
—
|
-6 bps
|
-9 bps
|
|
ETN
Eaton Corporation PLC
|
Industrials |
2.30% |
61 |
$411.22 |
$390.85
|
$23.7K |
-$1,233
-4.95%
|
—
|
-12 bps
|
-16 bps
|
|
GOOGL
Alphabet Inc. Class A
|
Communication Services |
2.28% |
70 |
$355.52 |
$337.26
|
$23.5K |
-$1,271
-5.14%
|
—
|
-13 bps
|
-16 bps
|
|
GIS
General Mills Inc
|
Consumer Staples |
2.24% |
569 |
$33.84 |
$40.58
|
$23.1K |
$3,837
19.91%
|
—
|
+38 bps
|
+35 bps
|
|
GILD
Gilead Sciences Inc
|
Health Care |
2.19% |
151 |
$128.62 |
$149.61
|
$22.5K |
$3,162
16.32%
|
—
|
+32 bps
|
+29 bps
|
|
XOM
Exxon Mobil Corporation
|
Energy |
2.15% |
135 |
$148.56 |
$164.17
|
$22.1K |
$2,102
10.50%
|
—
|
+21 bps
|
+18 bps
|
|
PEP
PepsiCo, Inc.
|
Consumer Staples |
1.22% |
90 |
$144.42 |
$140.52
|
$12.6K |
-$350
-2.70%
|
-$197
|
-4 bps
|
-5 bps
|
Sector exposure vs S&P 500
Portfolio sector weights — the SPY holding looked through to its underlying sectors — against the benchmark. The tilt is the active over/underweight: how the committee is positioning away from the index. Contrib is the basis points each sector has added to the fund's return since launch.
| Sector |
Portfolio |
S&P 500 |
Tilt |
Contrib total |
Active vs SPY |
Underweight ◀ ▶ Overweight |
| Financials |
19.2% |
13.0% |
+6.2 |
+72 bps |
+45 bps |
|
| Industrials |
9.8% |
8.0% |
+1.8 |
-12 bps |
-26 bps |
|
| Consumer Staples |
7.3% |
6.0% |
+1.3 |
+39 bps |
+29 bps |
|
| Health Care |
12.1% |
11.0% |
+1.1 |
+85 bps |
+68 bps |
|
| Energy |
4.7% |
4.0% |
+0.7 |
+24 bps |
+17 bps |
|
| Materials |
1.3% |
2.0% |
-0.7 |
+2 bps |
-0 bps |
|
| Real Estate |
1.3% |
2.0% |
-0.7 |
+2 bps |
-0 bps |
|
| Communication Services |
8.1% |
9.0% |
-0.9 |
-6 bps |
-17 bps |
|
| Utilities |
1.9% |
3.0% |
-1.1 |
+2 bps |
-0 bps |
|
| Consumer Discretionary |
9.5% |
11.0% |
-1.5 |
-3 bps |
-16 bps |
|
| Information Technology |
23.1% |
31.0% |
-7.9 |
+97 bps |
+64 bps |
|
Recent trades
| Time | Ticker | Side | Qty | Price | Slippage | Realized |
| 1 month ago |
SPY |
SELL |
1 |
$747.54 |
6.90 bps |
-$9.88
|
| 1 month ago |
HD |
BUY |
3 |
$324.74 |
6.52 bps |
—
|
| 1 month ago |
SPY |
SELL |
34 |
$742.45 |
6.91 bps |
-$471
|
| 1 month ago |
HD |
BUY |
74 |
$334.77 |
5.24 bps |
—
|
| 1 month ago |
SPY |
SELL |
13 |
$754.01 |
6.84 bps |
-$31.12
|
| 1 month ago |
GILD |
BUY |
71 |
$133.54 |
6.13 bps |
—
|
| 1 month ago |
SPY |
SELL |
33 |
$744.51 |
6.25 bps |
-$398
|
| 1 month ago |
GOOGL |
BUY |
70 |
$355.52 |
3.28 bps |
—
|
| 1 month ago |
SPY |
SELL |
33 |
$744.40 |
5.10 bps |
-$402
|
| 1 month ago |
MSFT |
BUY |
65 |
$383.84 |
3.32 bps |
—
|
| 2 months ago |
SPY |
SELL |
33 |
$745.06 |
6.77 bps |
-$379
|
| 2 months ago |
GS |
BUY |
24 |
$1034.92 |
6.36 bps |
—
|
| 2 months ago |
SPY |
SELL |
0 |
$730.83 |
6.00 bps |
-$0.47
|
| 2 months ago |
FDX |
BUY |
0 |
$323.69 |
5.20 bps |
—
|
| 2 months ago |
SPY |
SELL |
33 |
$732.54 |
5.92 bps |
-$794
|
| 2 months ago |
FDX |
BUY |
75 |
$324.35 |
5.49 bps |
—
|
| 2 months ago |
SPY |
SELL |
0 |
$746.36 |
5.10 bps |
-$0.64
|
| 2 months ago |
GILD |
BUY |
0 |
$124.17 |
5.93 bps |
—
|
| 2 months ago |
SPY |
SELL |
13 |
$740.85 |
5.86 bps |
-$207
|
| 2 months ago |
GILD |
BUY |
79 |
$124.21 |
5.54 bps |
—
|
Pricing & distributions. Holdings are marked at the
split- and dividend-adjusted close, so dividends and other distributions are
captured in total return through the adjusted price series rather than
booked as a separate cash line — when a name we hold pays a dividend, it shows
up in that name's return, not as a jump in cash. NAV and performance are
therefore total-return figures, on the same basis as the S&P 500 benchmark
(also total return), so the comparison is apples-to-apples. Paper portfolio;
no distributions are actually received.
Intraday. While the NY session is open the Last
column and the Today move update from EODHD quotes that are delayed
~15 minutes — indicative only. The official mark is the 4 pm ET
adjusted close.