The Large Cap Momentum Portfolio invests in a concentrated group of stocks with accelerating price trends. It seeks to maintain exposure to well-established companies with uptrending stocks, with the idea that those stocks may continue to be top performers going forward.
Large cap stocks are first ranked based on my measure of long-term price momentum. I maintain exposure to the 10 to 12 momentum stocks overall. Positions typically move out of the portfolio once they are no longer top momentum names.
Rankings are checked several times a week. I trade accordingly to keep exposure to the top momentum stocks on my list. There are no other factors in my decision-making: Buying decisions are not made based on need for diversification, value, dividend return, or other fundamental analysis.
Leverage or shorting is not used in this portfolio. No more than 10% of the portfolio is typically held in cash at any time. There may be occasional exceptions when a large number of positions change at once.
Turnover is expected to be higher during periods of high market volatility. Top-performing stocks may be held for many months, while there tends to be more frequent changes amongst positions at the bottom of my momentum ranking.
Past performance is no guarantee of future results.
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".
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.
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.
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.
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.
Leverage indicates the level of margin utilized and is calculated by dividing gross exposure by portfolio net liquidation value.
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.
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.
Index returns do not reflect any management fees, transaction costs or expenses. Individuals cannot invest directly in an Index.