Covestor is changing its name to Covestor logo
Covestor is changing its name to Covestor logo

Sizemore Capital

Dividend Growth



  • Strategy Stocks
The Dividend Growth portfolio selects dividend-paying stocks that I believe will provide an attractive income over the next decade and beyond.

I believe a fundamental shift in investor preferences is occurring that favors income over growth. This is due, in part, to the aging of America’s Baby Boomers. At the same time, I see traditional income investments such as bonds and certificates of deposit currently offering unattractive yields that are quite low.
The Dividend Growth portfolio invests in shares of U.S. and international common stocks, real estate investment trusts (REITs), master limited partnerships (MLPs), and other income-producing securities. The primary objective of the portfolio is to potentially generate a high and growing income stream that will outpace inflation over time. The secondary objective is to generate long-term capital gains.
I select investments that meet one or both of the following criteria:

1. They offer a high current yield relative to competing investments.

2. They provide income from the investment that has a long history of rising over time, or I believe that it has potential to rise going forward.

My research attempts to gauge the safety of the income stream. I seek to avoid positions where the risks outweigh the potential for high yields.
The Dividend Growth portfolio is concentrated among asset classes that have a history of rising income payouts. Those include dividend-paying stocks, real estate investment trusts, and master limited partnerships.  Other asset classes and investment vehicles (such as closed-end mutual funds or ETFs) may also be considered as valuations and market conditions warrant. My initial investment in a security typically will not exceed 5% of the total portfolio's value, though the allocation may rise above that threshold due to price movements over time.
I will sell holdings that no longer meet the strategy's criteria for dividend growth. Positions that I view as at risk of dividend reductions will be considered for sale. Additionally, positions that I view as overvalued or that no longer offer an attractive yield relative to alternatives will also be considered for sale.
I may buy a security that does not have a history of dividend payouts if my research leads me to believe that a payout will be initiated in the near future.

Portfolio Manager performance

5.4%

Last 30 days

30D

2.7%

Last 90 days

90D

8.4%

Last 365 days

365D

Quarterly vs S&P500

Quarterly vs S&P500

Risk score

  • 19.4%

    Best quarter

  • -8.8%

    Worst quarter

    • 1.5% fee
    • $20,000 min
  • Required: Margin account

Portfolio Manager performance graph

All performance information on this page is based on the performance of the Portfolio Manager’s account. Client performance may differ. Client account performance is displayed on the client dashboard.

Performance Portfolio inception March 29, 2012

as of July 20, 2017 Manager (net of fees ) S&P 500
Last 30 days 5.4% 1.5%
Last 90 days 2.7% 5.3%
Last 365 Days 8.4% 13.8%
Since inception (Annualized) 11.2% 11.3%
2017 (YTD) 7.1% 10.5%
2016 26.0% 9.5%
2015 -11.3% -0.7%
2014 14.1% 11.4%
2013 23.2% 29.6%

Risk metrics Last 365 days

as of July 20, 2017 Manager (net of fees ) S&P 500
Volatility 12.3% 8.1%
Sharpe Ratio 0.59 1.57
Sortino Ratio 0.80 2.18
Maximum Drawdown -11.3% -4.8%
Value-at-risk (95%, 1 week) -2.8% -1.9%
vs. S&P 500
Information Ratio -0.64
Alpha -5.9%
Beta 1.11
R-Squared 0.53

Exposure

24.9%
24.0%
16.2%
8.4%
7.7%
  • REIT
  • MLP
  • Consumer, Cyclical
  • Energy
  • Financial

Top 5 securities

5.6%
4.8%
4.8%
4.6%
4.5%
View all

Portfolio commentary

  1. Profile Picture GM's deep value July 21, 2017

    GM's high dividend yield is a big plus for discerning investors

  2. Profile Picture Dividend plays July 14, 2017
  3. Profile Picture Buffett likes this REIT June 29, 2017
  4. Profile Picture Amazon is hungry June 21, 2017
  5. Profile Picture 401(k) magic June 19, 2017
Show more

Latest transactions Average trades per month 4.5

Executed Symbol Security Type Price
June 19, 2017 STAG STAG Industrial Inc Sell $27.66
June 19, 2017 DVYE iShares Emerging Markets Dividend ETF Buy $40.65
May 08, 2017 VER VEREIT Inc Buy $7.60
May 08, 2017 STOR STORE Capital Corp Buy $21.05
May 05, 2017 VER VEREIT Inc Buy $7.84
May 05, 2017 F Ford Motor Co Buy $11.05
May 05, 2017 MORT VanEck Vectors Mortgage REIT Income ETF Sell $23.97
April 18, 2017 BX Blackstone Group LP/The Buy $29.55
View all

Manager's other portfolios

Sizemore Capital - Strategic Growth Allocation Strategic Growth Allocation

You might also like by other managers…

US Equity All Cap Undervalued by Greenwich Wealth Management LLC

Important Information

  1. Past performance is no guarantee of future results, and all investments, including those in this portfolio, involve the risk of loss, including loss of principal and a reduction in earnings.  
  2. All performance information on this page is based on the performance of the Portfolio Manager’s account, using the manager’s own funds. Portfolio Manager’s pre-IB Asset Management performance information may include performance of non-IB Asset Management client accounts. Performance of the Portfolio Manager's account is calculated by IB Asset Management on a daily time-weighted basis, including cash, dividends and earnings distributions and reflects the deduction of broker commissions. Manager returns include trades and positions that fail IB Asset Management's trading rules, as a result, actual client returns will differ. IB Asset Management advisory fees are simulated and applied retroactively to present the portfolio return "net-of-fees".
  3. None of the performance information displayed on this page is based on the actual performance of any IB Asset Management client account investing in this portfolio. The performance in an IB Asset Management client account invested in this portfolio may differ (i.e., be lower or higher) from the Portfolio Manager’s account performance based on any trading restrictions imposed by the client (resulting in different account holdings), time of initial investment, amount of investment, frequency and size of cash flows in and out of the client account, applicable brokerage commissions, and different corporate actions. Clients investing in this portfolio may view the actual performance of their investment in this portfolio by logging into their IB Asset Management account and reviewing their customized dashboard.
  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 IB Asset Management, 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. We rely on mathematical formulas, computer programs, and pricing information from third-party vendors to provide these returns. Neither IB Asset Management 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 displayed have been calculated by IB Asset Management using daily benchmark prices and do not include dividend income. More information here. For certain portfolios IB Asset Management uses an index as a benchmark, while for others it uses an investable exchange traded fund (ETF) as a benchmark. Index returns do not reflect the deduction of any management fees, transaction costs or expenses. Individuals cannot invest directly in an index. Investable ETF returns reflect the deduction of (i.e., are net of) management fees, transaction costs and expenses.
  7. All Portfolio Manager information including personal data, profiles, strategies, monthly investment reports, and historical results outside of IB Asset Management has been provided by the Portfolio Manager. IB Asset Management makes no representation or warranty of its accuracy, completeness or relevance and it does not represent the opinions of IB Asset Management. Transaction history of Portfolio Managers is available upon request. Portfolio classifications are provided by IB Asset Management, and are intended to serve as a general guide.
  8. Not all transactions listed will appear in accounts due to IB Asset Management'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.
  9. The Portfolio Manager could use short selling to manage this portfolio. Short selling is more complex than simply owning securities, involves a high degree of risk, is highly speculative, and is not suitable for all investors. The risk of loss associated with short selling is virtually unlimited. Short selling may also involve additional expenses and risks, including hard-to-borrow stock charges and buy-in risk. You should only select a portfolio using short selling if you are comfortable with the level of risk involved in short selling.
  10. The Portfolio Manager could use borrowed funds or leverage to fund investments in this portfolio. Leverage indicates the level of margin utilized and is calculated by dividing gross exposure by portfolio net liquidation value. Leverage involves a high degree of risk, is highly speculative, and is not suitable for all investors. Leverage increases both the amount you may lose and the amount you may make in a portfolio, leading to higher returns in the case of favorable market movements but also larger losses under adverse market conditions. You may also incur additional expenses associated with borrowing funds. You should only select a portfolio using leverage if you are comfortable with the level of risk involved in using leverage.