25-Year Public Ledger
One public company per quarter enters the 25-year experiment. The entry date, entry price, benchmark value, evidence label, and thesis source are recorded so the decision cannot be quietly revised after the fact. Names remain on record for 25 years from the date they are entered — including drawdowns, mistakes, and underperformance.
The public ledger is the audit trail, not a model portfolio. It is not investment advice. Nothing here should be read as a recommendation to buy or sell any security. A newly entered name shows its recorded entry immediately; live performance and the S&P 500 TR comparison begin updating at the next daily close.
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 | $416.73 | +5.6% | — | +13.1% | -7.5% | View → |
| 2025 Q4 | NVR | Dec 31, 2025 | $7,292.77 | $6,813.40 | -6.6% | — | +10.2% | -16.8% | View → |
| 2026 Q1 | DHR | Mar 26, 2026 | $187.26 | $190.48 | +1.7% | — | +16.1% | -14.4% | View → |
| 2026 Q2 | CPRT | Jun 30, 2026 | $28.15 | $28.19 | +0.1% | — | +0.0% | +0.1% | 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: Jul 1, 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 |
|---|---|---|---|---|---|---|
| $4,000 | $4,009 | $4,395 | +0.2% | +9.9% | -9.6% | — |