Public Ledger
The public ledger is not the product. It is the audit trail. Each named stock enters the record for a 25-year hold from the date it is named. The entry price, entry date, and investment case are recorded. Future thesis updates may revise the assessment, but the original name never leaves the record. Drawdowns, mistakes, and underperformance stay visible.
Picks
| Quarter | Ticker | Entry Date | Entry Price | Current Price | Cum. Return | CAGR * | S&P 500 TR | Alpha | Detail |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q3 | WSO | Sep 30, 2025 | $394.61 | $365.42 | -7.4% | — | +14.0% | -21.4% | View → |
| 2025 Q4 | NVR | Dec 31, 2025 | $7,292.77 | $6,160.54 | -15.5% | — | +11.0% | -26.5% | View → |
| 2026 Q1 | DHR | Mar 26, 2026 | $187.65 | $180.63 | -3.7% | — | +17.0% | -20.7% | View → |
* CAGR shown only after 1 year of data to avoid misleading annualization. Returns shown are total return assuming reinvestment of dividends. Stock series use adjusted close prices. Benchmark is S&P 500 Total Return index (^SP500TR). Data updated daily after market close. Last updated: May 29, 2026, 1:35 AM ET
Portfolio
Assumes $1,000 invested per quarter
| Total Invested | Portfolio Value | Benchmark Value | Portfolio TR% | S&P 500 TR% | Alpha | Portfolio CAGR |
|---|---|---|---|---|---|---|
| $3,000 | $2,733 | $3,420 | -8.9% | +14.0% | -22.9% | — |