David's Investment Account

All portfolios merged  ·  time-weighted returns  ·  as at 2026-08-28  ·  built 31 Aug 2026 20:28 UTC

Portfolio Value
$1,374,740

Portfolio Performance

Year Beg. NAV Net Deposits Net P&L TWR S&P 500 MSCI ACWI Turnover
2019 — $50,000 $12,626 +30.6% +31.5% +26.6% —
2020 $62,626 $105,890 $68,384 +27.9% +18.4% +16.2% 162%
2021 $236,900 $33,905 $64,423 +23.5% +28.7% +18.5% 45%
2022 $335,228 $154,970 -$67,221 -18.5% -18.1% -18.4% 96%
2023 $422,977 $70,012 $138,093 +28.5% +26.3% +22.2% 39%
2024 $631,082 $965 $162,207 +18.9% +25.0% +17.5% 65%
2025 $794,255 $87,741 $115,081 +15.7% +14.6% +18.7% 59%
2026 (YTD) $997,077 $258,418 $1,344,827 +1.7% +11.4% +11.2% 30%
Since Inception  2019-01-01 – 2026-08-28 $761,902 $1,838,420 +15.6% ann. +16.9% ann. +13.8% ann. —

~ Approximate: large external cash flows relative to portfolio size reduce Modified Dietz accuracy; intra-year snapshots would be needed for a precise figure.

Holdings
40
96 ever held
How many positions are live right now versus every name ever owned.
Top 5 Weight
34.9%
of current value
Share of the book in the five largest holdings — how concentrated the bets are.
Top 10 Weight
53.9%
of current value
How much of the portfolio rides on the ten biggest holdings.
Avg Holding Period
2.1 yr
capital-weighted
Average time capital stays invested — the patience of the strategy.
Hit Rate
67.4%
60 winners · 29 losers of 89
How often a closed-or-held position ends up in profit.
Slugging %
408%
avg win $9,987 ÷ avg loss $2,450
Average win versus average loss — above 100% means winners outweigh losers.
Max Drawdown
26.1%
Dec '21 → Sep '22
Largest peak-to-trough fall in cumulative TWR across year-end snapshots.
IRR — Closed Only
6.5%
vs 16.5% whole book — selling added 10pp
Median IRR on exited positions. Click to see full list.
IRR — Since Exit
+3.8%
vs 6.5% while held — 46 of 56 exits
Median annualised return after exit (to today or repurchase). Click to see full list.
Above 8% Hurdle
55.4%
31 of 56 positions with known IRR
Share of positions (held and closed, excluding <1 yr) whose annualised IRR cleared 8%.
Median Position IRR
9.9%
vs 16.5% whole book — bigger bets added 7pp
Equal-weighted median IRR versus the money-weighted book XIRR. A higher book figure means bigger bets paid off.

Positions

As at
Company Ticker Status Weight Current Value Cost Basis Net P&L Total Return Ann. IRR MOIC Time Held
▶ FRP ADVISORY GROUP PLC FRP Held 13.1% $180,394 $178,935 $10,627 +6.1% +8.0% 1.06x 1y 3m
▶ VISA INC-CLASS A SHARES V Held 6.6% $90,439 $46,734 $45,749 +97.9% +17.9% 1.98x 4y 4m
▶ AJ BELL PLC AJB Held 5.5% $75,625 $35,233 $47,126 +142.2% +35.9% 2.42x 3y
▶ INTEGRAFIN HOLDINGS PLC IHP Held 5.1% $70,118 $44,232 $37,107 +93.1% +19.1% 1.93x 4y 2m
▶ ASML HOLDING NV-NY REG SHS ASML Held 4.6% $62,758 $23,528 $39,640 +168.5% +106.4% 2.68x 1y 4m
▶ TAIWAN SEMICONDUCTOR-SP ADR TSM Held 4.2% $57,200 $11,995 $46,287 +385.9% +48.3% 4.86x 4y
▶ S&P GLOBAL INC SPGI Held 4.0% $54,475 $51,391 $1,047 +2.0% +3.9% 1.02x 4y 6m
▶ THERMO FISHER SCIENTIFIC INC TMO Held 3.8% $52,263 $35,279 $17,172 +48.7% +33.0% 1.49x 1y 4m
▶ MOODY'S CORP MCO Held 3.6% $49,657 $27,646 $26,054 +106.3% +18.8% 2.06x 6y 5m
▶ MASTERCARD INC - A MA Held 3.4% $46,433 $23,542 $26,677 +84.3% +17.4% 1.84x 6y 5m
▶ CREDIT BUREAU ASIA LTD TCU Held 3.2% $44,641 $34,515 $21,705 +36.2% +9.6% 1.36x 5y 4m
▶ ISHARES 0-3 MONTH TREASURY B SGOV Held 3.1% $43,062 $43,042 — — — — 5m
▶ WASTE CONNECTIONS INC WCN Held 2.8% $38,164 $37,054 $1,287 +3.5% — 1.03x 7m
▶ BALTIC CLASSIFIEDS GROUP BCG Held 2.7% $36,520 $37,415 $4,637 +9.5% +3.9% 1.09x 2y 10m
▶ AS ONE CORP 7476.T Held 2.5% $34,592 $27,508 $6,857 +24.7% — 1.25x 3m
▶ RYAN SPECIALTY HOLDINGS INC RYAN Held 2.4% $33,078 $25,789 $7,484 +29.0% — 1.29x 5m
▶ MICHELMERSH BRICK HOLDINGS P MBH Held 2.4% $32,671 $40,817 -$5,954 -14.7% — 0.85x 10m
▶ CME GROUP INC CME Held 2.4% $32,581 $27,195 $5,447 +20.0% — 1.20x 2m
▶ Cash-equivalent floating rate treasu USFR Held 2.2% $30,833 $30,860 — — — — —
▶ SOMERO ENTERPRISES INC- REGS SOM Held 2.1% $28,319 $27,660 $3,323 +6.1% +4.1% 1.06x 3y 1m
▶ COMPASS GROUP PLC-SPON ADR CMPGY Held 1.9% $25,824 $24,723 $1,188 +4.8% — 1.05x 6m
▶ SHIN MAINT HOLDINGS CO LTD 6086.T Held 1.8% $25,411 $25,660 -$383 -1.5% — 0.99x 4m
▶ ROSS STORES INC ROST Held 1.8% $24,831 $9,095 — — — — 4y 5m
▶ HEICO CORP-CLASS A HEI A Held 1.5% $21,255 $5,182 $18,492 +233.3% +26.6% 3.33x 6y 5m
▶ RAND WORLDWIDE INC RWWI Held 1.5% $20,526 $25,460 -$4,318 -17.0% — 0.83x 11m
▶ STRYKER CORP SYK Held 1.4% $19,841 $17,461 $2,433 +13.9% — 1.14x 3m
▶ COPART INC CPRT Held 1.3% $18,144 $16,088 $2,057 +12.8% — 1.13x 1m
▶ HERMES INTL-UNSPONSORED ADR HESAY Held 1.2% $16,280 $15,203 $1,077 +7.1% — 1.07x 1m
▶ MSCI INC MSCI Held 1.1% $15,411 $12,608 $3,292 +26.1% +10.5% 1.26x 2y 4m
▶ AUTOTRADER GROUP PLC AUTO Held 1.0% $14,293 $11,024 $4,330 +38.9% +5.4% 1.39x 6y 5m
▶ KINSALE CAPITAL GROUP INC KNSL Held 1.0% $14,083 $15,058 -$957 -6.4% — 0.94x 7m
▶ THERMADOR GROUPE THEP Held 0.9% $12,462 $10,973 $2,736 +26.1% +8.8% 1.26x 2y 10m
▶ WATSCO INC WSO Held 0.9% $12,430 $6,004 $9,144 +152.3% +15.0% 2.52x 7y 4m
▶ LVMH MOET HENNESSY LOUIS VUI MC Held 0.8% $10,614 $8,521 $2,669 +29.6% +4.3% 1.30x 6y 6m
▶ PROGRESSIVE CORP PGR Held 0.5% $7,215 $3,538 $11,244 +150.0% +20.7% 2.50x 5y 6m
▶ PRECISION TSUGAMI CHINA CORP 1651 Held 0.5% $6,633 $1,042 $92,563 +179.8% +72.2% 2.80x 3y 5m
▶ MORTGAGE ADVICE BUREAU HOLDI MAB1 Held 0.4% $5,890 $6,658 $1,328 +20.4% +3.1% 1.20x 7y
▶ CTT SYSTEMS AB CTT Held 0.4% $5,735 $4,530 $1,134 +21.8% +3.6% 1.22x 5y 10m
▶ MOBILITY GLOBAL INC MBGL Held 0.2% $2,085 $2,200 — — — — —
▶ Cash CASH Held 0.1% $1,947 — — — — — —
▶ Cash CITI_CASH Held 0.0% $6 — — — — — —
▶ WULIANGYE YIBIN CO LTD-A 000858 Closed — — $69,013 $11,290 +16.4% +33.7% 1.16x 1y 6m
▶ DREAM FINDERS HOMES INC - A DFH Closed — — $34,610 -$7,749 -22.4% — 0.78x 10m
▶ ISHARES 0-3 MONTH TREASURY B SGOV (closed) Closed — — $34,456 $522 +1.5% — 1.02x 3m
▶ LIBERTY BROADBAND-C LBRDK Closed — — $21,142 -$6,708 -31.7% -21.3% 0.68x 1y 8m
▶ KWEICHOW MOUTAI CO LTD-A 600519 Closed — — $20,402 $972 +4.8% — 1.05x 5m
▶ HEADHUNTER GROUP PLC-ADR HHR Closed — — $17,987 $6,596 +36.7% +26.6% 1.37x 2y 1m
▶ ROSS STORES INC ROST (closed) Closed — — $17,083 $10,617 +62.1% +74.1% 1.62x 1y 1m
▶ LAM RESEARCH CORP LRCX Closed — — $16,995 $8,000 +47.1% +24.3% 1.47x 1y 10m
▶ FLOOR & DECOR HOLDINGS INC-A FND (closed) Closed — — $14,558 $2,723 +18.7% +6.5% 1.19x 2y 11m
▶ ALPHABET INC-CL A GOOGL (closed) Closed — — $14,473 $8,552 +59.1% +19.8% 1.59x 3y
▶ ALIMENTATION COUCHE-TARD INC ATD Closed — — $14,462 -$98 -0.7% — 0.99x 7m
▶ XPEL INC XPEL Closed — — $14,416 $1,756 +12.2% +6.4% 1.12x 1y 10m
▶ META PLATFORMS INC-CLASS A FB Closed — — $13,957 $5,001 +35.8% +28.8% 1.36x 2y
▶ TEXAS INSTRUMENTS INC TXN Closed — — $12,037 $3,638 +30.2% +10.3% 1.30x 2y 9m
▶ FRONTIER DIGITAL VENTURES LT FDV Closed — — $11,155 -$326 -2.9% — 0.97x 3m
▶ WIZZ AIR HOLDINGS PLC WIZZ Closed — — $10,820 -$4,249 -39.3% -22.5% 0.61x 1y 11m
▶ CONSTELLATION SOFTWARE INC CSU Closed — — $10,609 -$3,875 -36.5% — 0.63x 4m
▶ POSTAL REALTY TRUST INC- A PSTL (closed) Closed — — $10,241 $370 +3.6% — 1.04x 8m
▶ FLOOR & DECOR HOLDINGS INC-A FND (closed) Closed — — $10,132 -$20 -0.2% — 1.00x —
▶ AUTOHOME INC-ADR ATHM Closed — — $10,111 -$1,409 -13.9% — 0.86x 3m
▶ AUTODESK INC ADSK Closed — — $10,021 -$758 -7.6% -4.6% 0.92x 1y 8m
▶ ARTICORE GROUP LTD ATG Closed — — $9,966 -$9,376 -94.1% -57.9% 0.06x 3y 3m
▶ VANGUARD TOTAL STOCK MKT ETF VTI Closed — — $9,848 $768 +7.8% +10.7% 1.08x 2y 4m
▶ PERNOD-RICARD SA RI Closed — — $9,197 -$1,582 -17.2% -4.1% 0.83x 4y 8m
▶ BROCKHAUS TECHNOLOGIES AG BKHT Closed — — $8,605 -$2,659 -30.9% -23.0% 0.69x 1y 5m
▶ CME GROUP INC CME (closed) Closed — — $8,590 $3,370 +39.2% +24.2% 1.39x 1y 7m
▶ BTS GROUP AB-B SHARES BTSBs Closed — — $8,513 -$1,431 -16.8% -3.8% 0.83x 4y 9m
▶ MEDIAVALET INC MVP Closed — — $8,232 -$4,262 -51.8% -33.7% 0.48x 1y 9m
▶ IAC/INTERACTIVECORP IAC Closed — — $7,320 -$1,084 -14.8% -10.8% 0.85x 1y 5m
▶ SERVICENOW INC NOW Closed — — $7,151 -$1,242 -17.4% -15.5% 0.83x 1y 1m
▶ CARMAX INC KMX Closed — — $6,333 $2,211 +34.9% +19.9% 1.35x 1y 7m
▶ HINGHAM INSTITUTION FOR SVGS HIFS Closed — — $6,121 $8,104 +132.4% +77.3% 2.32x 1y 5m
▶ PASON SYSTEMS INC PSI Closed — — $6,102 $8,949 +146.7% +62.2% 2.47x 2y 1m
▶ TWITTER INC TWTR Closed — — $5,996 -$2,367 -39.5% — 0.61x 10m
▶ THUNDERBIRD ENTERTAINMENT GR TBRD Closed — — $5,940 -$3,096 -52.1% -29.0% 0.48x 2y 1m
▶ AMAZON.COM INC AMZN Closed — — $5,582 -$470 -8.4% -5.1% 0.92x 1y 8m
▶ AMERICAN TOWER CORP AMT Closed — — $5,433 $884 +16.3% +4.3% 1.16x 3y 9m
▶ FIRST HAWAIIAN INC FHB (closed) Closed — — $5,388 $3,955 +73.4% +45.4% 1.73x 1y 6m
▶ NIOX GROUP PLC NIOX Closed — — $5,378 $945 +17.6% +9.4% 1.18x 1y 9m
▶ IFIS JAPAN LTD 7833.T Closed — — $5,277 $1,292 +24.5% +21.3% 1.24x 1y 1m
▶ BOOKING HOLDINGS INC BKNG Closed — — $5,105 $135 +2.6% — 1.03x 2m
▶ CME GROUP INC CME (closed) Closed — — $5,049 $1,405 +27.8% — 1.28x 11m
▶ EDWARDS LIFESCIENCES CORP EW Closed — — $5,010 -$175 -3.5% -1.7% 0.96x 2y
▶ DOLLAR GENERAL CORP DG Closed — — $4,977 $2,144 +43.1% — 1.43x 11m
▶ AVALARA INC AVLR Closed — — $4,966 -$291 -5.9% — 0.94x —
▶ ESSENSYS GROUP LTD ESYS Closed — — $4,903 -$4,002 -81.6% -34.6% 0.18x 3y 12m
▶ WALT DISNEY CO/THE DIS Closed — — $4,795 -$1,198 -25.0% — 0.75x 11m
▶ ALPHABET INC-CL A GOOGL (closed) Closed — — $4,454 $894 +20.1% — 1.20x 9m
▶ SCHWAB (CHARLES) CORP SCHW Closed — — $4,252 $1,035 +24.4% +16.2% 1.24x 1y 5m
▶ MAGELLAN MIDSTREAM PARTNERS MMP Closed — — $2,123 $811 +38.2% — 1.38x 5m
▶ FIRST REPUBLIC BANK/CA FRCB Closed — — $1,021 -$1,021 -100.0% — 0.00x 1y 9m
▶ POSTAL REALTY TRUST INC- A PSTL (closed) Closed — — $170 $300 +176.5% — 2.76x 1y 5m
▶ FIRST HAWAIIAN INC FHB (closed) Closed — — $56 $71 +127.0% — 2.27x 4m
▶ VIMEO INC VMEO (closed) Closed — — $21 $0 +0.0% — 1.00x —
▶ ESSENSYS GROUP - BASIC OPEN OFFER RI ESYS.RTS Closed — — $0 — — — — —
▶ VIMEO INC VMEO (closed) Closed — — $0 — — — — 5m