David Fried Profile Picture Investment Adviser

David Fried

Publisher and Editor of financial newsletter,Financial Services

Buyback Index Portfolio

The Diversified Buybacks portfolio seeks to own a diverse group of companies that have all bought back their own shares.

My goal is to invest in companies that are buying back their own shares. In doing so, companies reduce their total number of shares outstanding. That potentially increases value for existing shareholders.

I focus on income-producing companies that have strong Standard & Poor’s credit ratings.

Risk score

Risk Score 3

Best 30 days


Worst 30 days


  • -1.5%
    30 day
  • 1.2%
    90 day
  • -0.7%
    365 day
    January 05, 2010
Monthly vs S&P500
David Fried - Buyback Index Portfolio Monthly vs S&P500
-3.1% 12 months

Pre-investment approval required. Contact clientservices@covestor.com or call 866.825.3005 x1.

  • $20,000 investment min
  • Margin account required
  • 1.5% fee


  • Consumer, Non-cyclical
  • Communications
  • Technology
  • Financial
  • Industrial

Top 5 securities View all


Portfolio commentary

  1. As share buybacks wane investors feel the pain

    22 October 2014

    Share buybacks are declining, a bad omen for the stock market.

  2. The stock market's secret weapon 22 September 2014
  3. Diminishing returns: Are share buybacks losing their potency? 28 May 2014
  4. Share buybacks: Too much of a good thing for investors? 1 April 2014
  5. Dividends and buybacks: Stick with what worked in 2013? 20 December 2013

show more

Performance detail

  • Manager (net of fees)


Covestor inception January 05, 2010

as of November 25, 2015 Manager (net of fees) S&P 500
Past 30 days -1.5% 1.1%
Past 90 days 1.2% 5.7%
Past 365 days -0.7% 3.2%
Since Covestor inception (Annualized) 10.5% 13.2%
2015 (YTD) -0.9% 3.4%
2014 5.8% 13.7%
2013 40.1% 32.4%
2012 19.0% 16.0%
2011 -11.8% 2.1%

Risk metrics

Last 365 days

as of November 25, 2015 Manager (net of fees) S&P 500
Best 30 days 6.6% 11.2%
Worst 30 days -8.5% -10.0%
Volatility 15.1% 15.2%
Sharpe Ratio - 0.06 0.20
Sortino Ratio - 0.09 0.28
Maximum Drawdown -12.7% -12.0%
Value-at-risk (95%, 1 week) -3.5% -3.5%
vs. S&P 500
Information Ratio - 0.52
Alpha -3.3%
Beta 0.87
R-Squared 0.77

Pre-investment approval required. Contact clientservices@covestor.com or call 866.825.3005 x1.

  • $20,000 investment min
  • Margin account required
  • 1.5% fee

Latest transactions View all

Average trades per month 8.6
Executed Symbol Security Type Price
10/23/15 MASI Masimo Corp Sell $38.62
10/13/15 WOOF VCA Inc Buy $55.15
10/13/15 TDC Teradata Corp Buy $28.41
10/13/15 SINA SINA Corp/China Buy $43.80
10/13/15 PFE Pfizer Inc Buy $32.89
10/13/15 PAGP Plains GP Holdings LP Buy $18.23
10/13/15 NWSA News Corp Buy $13.89
10/13/15 NAVI Navient Corp Buy $11.89

Important Information

  1. Past performance is no guarantee of future results.
  2. Performance of the Portfolio Manager's account is calculated by Covestor on a daily time-weighted basis, including cash, dividends and earnings distributions and broker commissions. Manager returns include trades and positions that fail Covestor's trading rules, as a result, actual client returns will differ. Covestor advisory fees are simulated and applied retro-actively to present the portfolio return "net-of-fees".
  3. Average client returns are calculated by Covestor and are composed of the asset-weighted average returns of all active client investments (some of which may contain investment restrictions) to the underlying portfolio. These daily average returns are then linked together for the timeframe presented. These returns include cash, dividends, earnings distributions, brokerage commissions and Covestor advisory fees.
  4. All graph data is as of the end of day for the referenced period, unless otherwise specified. The investment minimum is the minimum investment required to follow a particular portfolio. The minimum amount is determined by Covestor, based on the characteristics of the underlying portfolio. It should not be considered as specific investment advice for your investment situation.
  5. The performance charts are provided for informational purposes only, and should not be used as the basis for making an investment decision. Variables such as corporate actions or foreign exchange may affect daily performance displays. We rely on mathematical formulas, computer programs, and pricing information from third-party vendors to provide these returns. Neither Covestor nor any of its data or content providers shall be liable for any errors in this information or any actions taken by you in reliance upon this information.
  6. Benchmark returns have been calculated by Covestor using a time-weighted calculation of daily index valuations. Benchmarks presented are total return and therefore inclusive of cash, dividends and earnings distributions but not transaction costs. More
  7. Leverage indicates the level of margin utilized and is calculated by dividing gross exposure by portfolio net liquidation value.
  8. All Portfolio Manager information including personal data, profiles, strategies, monthly investment reports, and historical results outside of Covestor has been provided by the Portfolio Manager. Covestor makes no representation or warranty of its accuracy, completeness or relevance and it does not represent the opinions of Covestor. Transaction history is available upon request. Portfolio classifications are provided by Covestor, and are intended to serve as a general guide.
  9. Not all transactions listed will appear in your account due to Covestor's trading rules and individual client constraints. Eligibility of these securities is monitored periodically, and may change over time. Actual client investment holdings may vary.
  10. Index returns do not reflect any management fees, transaction costs or expenses. Individuals cannot invest directly in an Index.