Public record

The full track record

Every rebalance, every portfolio, on a single page. We log changes the day they happen so the record is complete and unrevisable.

What you can't do: edit history. What we don't do: cherry-pick. Every decision is here, including the ones that didn't work.

25+ years backtested

Rebalanced quarterly

Daily-tracked since launch

Why we built this

Sometimes you have to celebrate the wins.

Investing is hard. As investors we spend too much time focused on what could go wrong: the next correction, the position that broke down, the year that hurt. That focus is necessary. It is also tiring. Sometimes we have to step back and remind ourselves why we are doing this work.

This is our trophy room. Our biggest closed-position wins from across the model portfolios. We built it to remind everyone (including ourselves) that the work is paying off. Yes, this is absolutely cherry-picked. That is the point. The full record, including the picks that did not work, is on the Track Record page below.

The Wins

Hall of Fame

The biggest closed-position wins across the model portfolios. Every entry verified against YCharts total-return data, including dividends.

BKNGBooking Holdings Inc

+2661%

Market MastersAug 2007 → Nov 2020Held 13 yr 3 moThe biggest single win

The largest single-position return in our backtest. Bought a structurally advantaged travel platform two months before the GFC began. Held through the financial crisis, Brexit, the 2018 tech selloff, and COVID's worst quarters. Sold 13 years later up over 2,600%. Network effects compound when you stay seated.

METAMeta Platforms Inc

+995%

Market MastersFeb 2013 → May 2021Held 8 yr 3 moThrough the noise

Bought roughly six months after the IPO when consensus was skeptical about mobile monetization. Held through the 2018 Cambridge Analytica crisis, the 2020 ad-pause, and three Senate hearings. The ad-platform thesis kept playing out. Sold near the metaverse-pivot peak.

HDHome Depot, Inc.

+949%

Core 20Feb 2012 → Aug 2024Held 12 yr 6 moLong-term compounder

Bought near the post-housing-crisis bottom in a quality retailer with structural tailwinds (aging housing stock, durable consumer-spend on home improvement). Held through three sector scares, two interest-rate cycles, and a pandemic. The discipline of patience compounded a 10x position over 12.5 years.

ASNDAscendis Pharma A/S

+804%

Market MastersFeb 2017 → Apr 2026Held 9 yr 2 moSpecialty pharma compounder

European specialty biotech with a focused TransCon platform. Bought before the first FDA approval. Held through nine years of pipeline progression and three commercial launches. The methodology rewards holding founders through their build cycles.

HALOHalozyme Therapeutics Inc

+752%

BioTech 10Feb 2006 → Feb 2018Held 12 yrBiotech compounder

12-year hold on Halozyme — the rare biotech that compounded steadily rather than binary-eventing. The platform technology kept generating partnership revenue across multiple drug deals. 7.5x return through one of the volatile sector's longest holding periods.

RYTMRhythm Pharmaceuticals Inc

+643%

BioTech 10May 2022 → Aug 2022Held 3 moCatalyst-driven biotech

Rhythm Pharmaceuticals — a Phase 3 readout sent the stock 7x in three months. Sold into the post-catalyst strength rather than holding for more. Specialty biotech can produce extreme single-quarter wins; the discipline is in taking them when they come.

OXYOccidental Petroleum Corp

+622%

Core 20May 2001 → Feb 2013Held 11 yr 9 moConviction before consensus

Acquired at portfolio inception in 2001 when energy was unfashionable and oil was below $30. Held through a decade of cycles. Sold years before Buffett's high-profile Berkshire stake made the name a household reference. The fundamental conviction on the asset base was independent of the consensus that eventually arrived.

BCBrunswick Corp

+401%

Tepper TacticalFeb 2009 → Nov 2010Held 1 yr 9 moCrisis recovery buy

Brunswick (boats and recreation) bought 21 days before the 2009 March bottom. Held through the post-GFC consumer-discretionary recovery. Sold 21 months later up 4x. Buying when others were selling required discipline; sizing it appropriately required process.

NVDANVIDIA Corp

+386%

Tepper TacticalMay 2023 → Nov 2024Held 1 yr 6 moAI cycle

Same position window as Market Masters held NVDA. Different methodologies, same conviction, same outcome. The independent thesis generated the same result in both portfolios — useful evidence that the methodology was capturing signal, not noise.

COPConoco Phillips

+364%

Core 20Nov 2002 → May 2013Held 10 yr 6 moEnergy patience

Bought into integrated energy when post-dot-com sentiment had punished the entire sector. Held through the 2008 commodity collapse and the subsequent recovery. The dividend discipline alone compounded meaningfully across the decade-plus hold.

These are closed positions in the model portfolio, ranked by total return percentage (price + dividends). Hypothetical, backtested performance based on the methodology applied to historical data. Members who execute the same trades may not achieve the same results due to timing, fees, taxes, and individual circumstances. Past performance does not guarantee future results.

Flagship

Core 20

Inception: 2001-05 · 2 rebalances on record

See full portfolio →

CAGR

13.09%

Alpha

+3.82%

Max drawdown

-44.3%

Q2 2026Current
May 18, 2026
Weight rebalance only — no positions added or removed.
20 holdings on file
Q1 2026
Feb 18, 2026
Initial holdings on record.
20 holdings on file

Aggressive Growth

Market Masters

Inception: 2007-08 · 2 rebalances on record

See full portfolio →

CAGR

16.72%

Alpha

+5.37%

Max drawdown

-55.8%

Q2 2026Current
May 18, 2026
Added: V, GOOGL, SYF, UBER, MSFT, UNH, ELV, CVS, ADBE, BOBS, ASND, SGRY, AVAH, TKO, KMTS, MS, UAL, EXPE. Removed: TOL, PHM, DHI, OSK, ARW, AVT, BAX, SLB, ICLR, LEA, AVTR, NOV, MTH, LEN.B, TMHC, DNOW, CRH.
20 holdings on file
Q2 2026
Apr 9, 2026
Initial holdings on record.
19 holdings on file

Enhanced Manager Strategy

Tepper Tactical

Inception: 2001-05 · 2 rebalances on record

See full portfolio →

CAGR

18.48%

Alpha

+9.21%

Max drawdown

-60.7%

Q2 2026Current
May 18, 2026
Added: SNDK, LRCX, ASML, BALL, AMD, LYFT. Removed: WHR, AAL, KWEB, DB, OC, MHK.
25 holdings on file
Q1 2026
Feb 18, 2026
Initial holdings on record.
25 holdings on file

Momentum

Apex Momentum

Inception: 2010-05 · 65 rebalances on record

See full portfolio →

CAGR

20.65%

Alpha

+6.02%

Max drawdown

-34.1%

Q2 2026Current
May 18, 2026
Added: SNDK, AMD, LRCX, QCOM, OXY. Removed: RTX, DB, LHX, GM, BIDU.
10 holdings on file
Q1 2026
Feb 18, 2026
Added: ASML, RTX, LHX, GM, BIDU. Removed: NRG, AVGO, ORCL, C, AMD.
10 holdings on file
Q4 2025
Nov 17, 2025
Added: GLW, MU, GOOGL, TSM, AMD. Removed: PM, RTX, JCI, VST, BABA.
10 holdings on file
Q3 2025
Aug 15, 2025
Added: RTX, ORCL, JCI, C, AVGO. Removed: V, USCB, KO, ET, UNH.
10 holdings on file
Q2 2025
May 16, 2025
Added: DB, V, USCB, KO, BABA, UNH. Removed: AVGO, AXP, TSLA, TSM, JD, NVDA.
10 holdings on file
Q1 2025
Feb 18, 2025
Added: ET, TSLA, JD. Removed: KO, ORCL, SPGI.
10 holdings on file
Q4 2024
Nov 15, 2024
Added: VST, PM, KO, NRG, ORCL, SPGI. Removed: LLY, MU, QCOM, GOOG, LRCX, BAC.
10 holdings on file
Q3 2024
Aug 15, 2024
Added: QCOM, GOOG, AXP, BAC. Removed: UBER, META, THC, ASML.
10 holdings on file
Q2 2024
May 16, 2024
Added: MU, TSM, LRCX, THC, ASML. Removed: INTC, MSFT, PDD, AMD, GOOG.
10 holdings on file
Q1 2024
Feb 15, 2024
Added: INTC, UBER, AMD. Removed: ADBE, LRCX, ORCL.
10 holdings on file
Q4 2023
Nov 15, 2023
Added: LLY, LRCX, GOOG, PDD. Removed: UBER, BKNG, AAPL, SNPS.
10 holdings on file
Q3 2023
Aug 15, 2023
Added: MSFT, UBER, AAPL, SNPS, ADBE. Removed: MRK, ASML, FDX, V, LLY.
10 holdings on file
Q2 2023
May 16, 2023
Added: NVDA, ASML, BKNG, AVGO, FDX, META, V. Removed: CVX, EXEEL, ET, BMRN, HCA, EXEEZ, EXE.
10 holdings on file
Q1 2023
Feb 15, 2023
Added: ET, BMRN, HCA, ORCL. Removed: CI, OXY, EQT, HUM.
10 holdings on file
Q4 2022
Nov 15, 2022
Added: CI, EXE, HUM. Removed: VRTX, AR, UNH.
10 holdings on file
Q3 2022
Aug 16, 2022
Added: EXEEL, VRTX, MRK, UNH. Removed: MOS, CVS, XOP, KO.
10 holdings on file
Q2 2022
May 17, 2022
Added: EXEEZ, EQT, CVX, MOS, OXY, LLY, XOP. Removed: SCHW, MSFT, GOOGL, BAC, M, AAPL, HD.
10 holdings on file
Q1 2022
Feb 15, 2022
Added: CVS, MSFT, GOOGL, AR, AAPL, HD, KO. Removed: GOOG, MS, ORCL, XOP, LLY, GS, OXY.
10 holdings on file
Q4 2021
Nov 16, 2021
Added: M, XOP, LLY, GS, BAC, OXY. Removed: SGRY, MSFT, AXP, ADBE, META, HCA.
10 holdings on file
Q3 2021
Aug 17, 2021
Added: ORCL, MSFT, AXP, ADBE, META, HCA. Removed: KSS, TRIP, M, PYPL, GS, SYF.
10 holdings on file
Q2 2021
May 18, 2021
Added: KSS, TRIP, M, GS, GOOG, SYF. Removed: ETSY, QCOM, AAPL, TMUS, AVGO, DIS.
10 holdings on file
Q1 2021
Feb 17, 2021
Added: ETSY, QCOM, SCHW, TMUS, AVGO, MS, DIS. Removed: XYZ, ADBE, AMZN, CRM, BABA, MSFT, META.
10 holdings on file
Q4 2020
Nov 17, 2020
Added: XYZ, SGRY, CRM, BABA, META. Removed: LLY, AMGN, TMUS, NFLX, INCY.
10 holdings on file
Q3 2020
Aug 17, 2020
Added: PYPL, TMUS, NFLX, INCY. Removed: TSLA, HUM, UNH, JNJ.
10 holdings on file
Q2 2020
May 18, 2020
Added: TSLA, HUM, AMZN, ADBE, UNH, JNJ. Removed: MDT, SGRY, JPM, CASH, CWEN, GOOG.
10 holdings on file
Q1 2020
Feb 18, 2020
Added: SGRY, LLY, AMGN, JPM, CASH, GOOG. Removed: KO, MDLZ, G, HD, D, AXP.
10 holdings on file
Q4 2019
Nov 15, 2019
Added: MDT, D, AAPL, CWEN. Removed: DIS, IQV, PYPL, MRK.
10 holdings on file
Q3 2019
Aug 15, 2019
Added: DIS, IQV, KO. Removed: LLY, ASND, AVGO.
10 holdings on file
Q2 2019
May 16, 2019
Added: MDLZ, PYPL, G, AXP, HD. Removed: NRG, KO, VST, TMUS, UNH.
10 holdings on file
Q1 2019
Feb 15, 2019
Added: NRG, ASND, AVGO, KO, VST, TMUS. Removed: AMZN, AAPL, CNC, MDT, CZR, HD.
10 holdings on file
Q4 2018
Nov 15, 2018
Added: LLY, AAPL, MDT, MRK, HD. Removed: ASND, EA, BSX, Z, MU.
10 holdings on file
Q3 2018
Aug 15, 2018
Added: CNC, EA, BSX, Z, MU. Removed: XPO, PYPL, CRM, TMO, PSX.
10 holdings on file
Q2 2018
May 16, 2018
Added: ASND, XPO, CRM, TMO, PSX. Removed: OC, HD, ALLY, BABA, AAPL.
10 holdings on file
Q1 2018
Feb 15, 2018
Added: HD, ALLY, AMZN, MSFT, AAPL. Removed: MU, AXP, PNC, NRG, G.
10 holdings on file
Q4 2017
Nov 15, 2017
Added: AXP, OC, CZR, NRG, UNH, G. Removed: AAPL, PM, ALL, AVGO, ORCL, WDC.
10 holdings on file
Q3 2017
Aug 15, 2017
Added: BABA, PM, AVGO, ORCL, PYPL. Removed: BAC, URI, CHTR, RF, JPM.
10 holdings on file
Q2 2017
May 16, 2017
Added: WDC, BAC, ALL, AAPL. Removed: CFG, HUN, USB, QCOM.
10 holdings on file
Q1 2017
Feb 15, 2017
Added: RF, CFG, PNC, JPM, HUN, USB, MU, URI. Removed: AMZN, JNJ, MRK, KHC, META, Z, EA, MDT.
10 holdings on file
Q4 2016
Nov 15, 2016
Added: QCOM, MRK, KHC, META, Z, EA. Removed: VZ, PM, PEP, OC, PFE, HD.
10 holdings on file
Q3 2016
Aug 16, 2016
Added: CHTR, PEP, MDT, PFE. Removed: GOOG, MSFT, KO, NKTR.
10 holdings on file
Q2 2016
May 17, 2016
Added: KO, JNJ, VZ, NKTR. Removed: G, LUV, META, EA.
10 holdings on file
Q1 2016
Feb 17, 2016
Added: GOOG, MSFT, LUV, PM, META, OC. Removed: JBLU, MDLZ, BFAM, GOOGL, KDP, GT.
10 holdings on file
Q4 2015
Nov 17, 2015
Added: MDLZ, BFAM, GOOGL, G, KDP, GT. Removed: CI, HCA, MHK, JPM, AAPL, EBAY.
10 holdings on file
Q3 2015
Aug 17, 2015
Added: CI, AMZN, HCA, JPM, EBAY. Removed: KDP, BSX, NXPI, PFE, CAH.
10 holdings on file
Q2 2015
May 18, 2015
Added: JBLU, KDP, BSX, AAPL, PFE, MHK. Removed: AMGN, WHR, DGX, PEP, PG, UAL.
10 holdings on file
Q1 2015
Feb 18, 2015
Added: AMGN, EA, WHR, DGX, PG, UAL, CAH, NXPI. Removed: LUV, KDP, GILD, TTGT, AAPL, HCA, THC, MSFT.
10 holdings on file
Q4 2014
Nov 17, 2014
Added: KDP, TTGT, HCA, HD, THC, PEP, MSFT. Removed: AAL, EA, TEVA, HAL, DAL, META, DIS.
10 holdings on file
Q3 2014
Aug 15, 2014
Added: EA, HAL, AAPL, META, DIS, GILD. Removed: TSLA, GOOGL, MRK, GT, MSFT, LLY.
10 holdings on file
Q2 2014
May 16, 2014
Added: AAL, TEVA, MRK, GT, MSFT, LLY. Removed: BSX, META, GILD, MGM, MA, BKNG.
10 holdings on file
Q1 2014
Feb 18, 2014
Added: LUV, MA, GOOGL. Removed: GT, TRIP, F.
10 holdings on file
Q4 2013
Nov 15, 2013
Added: DAL, GT, META, MGM, BKNG, TRIP. Removed: JNJ, HD, GOOGL, HIG, PG, PRU.
10 holdings on file
Q3 2013
Aug 15, 2013
Added: TSLA, HD, BSX, GOOGL, F, HIG, PRU. Removed: AMGN, PFE, TRIP, VZ, LLY, DAL, PEP.
10 holdings on file
Q2 2013
May 16, 2013
Added: GILD, JNJ, AMGN, TRIP, VZ, DAL, PG, PEP. Removed: EBAY, V, HD, HCA, MA, GM, C, HUN.
10 holdings on file
Q1 2013
Feb 15, 2013
Added: LLY, V, HCA, MA, GM, C, HUN. Removed: WMT, MRK, T, VZ, PM, NVAX, MAS.
10 holdings on file
Q4 2012
Nov 15, 2012
Added: PFE, NVAX, MAS. Removed: AAPL, KO, USB.
10 holdings on file
Q3 2012
Aug 15, 2012
Added: T, VZ, KO, MRK, EBAY. Removed: ABT, URI, BKNG, QCOM, MSFT.
10 holdings on file
Q2 2012
May 16, 2012
Added: URI, BKNG, USB, QCOM, MSFT. Removed: MDLZ, PFE, M, VZ, INTU.
10 holdings on file
Q1 2012
Feb 15, 2012
Added: PM, HD, WMT, PFE, ABT, VZ, INTU. Removed: CVI, IBM, DINO, BMY, EA, JNJ, CF.
10 holdings on file
Q4 2011
Nov 15, 2011
Added: AAPL, DINO, BMY, EA, JNJ, CF, M. Removed: ST, BKNG, PM, UNH, PFE, KO, T.
10 holdings on file
Q3 2011
Aug 16, 2011
Added: CVI, IBM, UNH, MDLZ, T. Removed: VLO, INTU, COP, VZ, TER.
10 holdings on file
Q2 2011
May 17, 2011
Added: ST, VLO, PM, PFE, TER. Removed: AAPL, CF, ORCL, EBAY, T.
10 holdings on file
Q1 2011
Feb 15, 2011
Added: EBAY, KO, COP. Removed: UAL, PM, UNH.
10 holdings on file
Q4 2010
Nov 16, 2010
Added: BKNG, VZ, PM, ORCL, T, UNH, CF. Removed: KDP, CAH, WTW, BC, LUV, PG, MMM.
10 holdings on file
Q3 2010
Aug 17, 2010
Added: KDP, CAH, INTU, WTW, PG. Removed: BKNG, MSFT, AXP, MDLZ, FDX.
10 holdings on file
Q2 2010
May 18, 2010
Initial holdings on record.
10 holdings on file

Specialty / Sector

BioTech 10

Inception: 2002-02 · 1 rebalance on record

See full portfolio →

CAGR

16.22%

Alpha

+6.01%

Max drawdown

-71.3%

Q2 2026Current
May 18, 2026
Initial holdings on record.
10 holdings on file

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Portfolio inception – present · benchmark: S&P 500 Total Return · data as of Aug 9, 2026 · How we calculated this →

Hypothetical, backtested performance based on the methodology applied to historical data. Members who execute the same trades may not achieve the same results due to timing, fees, taxes, and individual circumstances. Past performance does not guarantee future results.