Vista IM Profile Picture Investment Adviser

Vista IM

Vista IM

  • Education University of Pittsburgh; Penn State University
  • Qualifications MBA, BS, CFA, CPA
  • Investment Experience Over 25 years experience
  • Founded 2002

Core Holding

Vista Investment Management employs a Core Equity investment strategy for its model portfolio, using primarily individual securities. The primary objective is growth of capital with a moderate level of risk. The model portfolio is highly diversified and has exposure to virtually all major equity sectors. Market timing does not play a significant role in Vista's strategy. Because this strategy is highly diversified, it may be appropriate for investors seeking one primary equities portfolio. To the extent possible, Vista will attempt to minimize taxable events.
Vista employs a Core Equity approach in an attempt to achieve long-term returns in excess of the S&P 500 Index, while maintaining a level of risk that is equal to or less than this Index. There are many types of risk , including company risk, market risk, sector risk, geographic risk, economic risk, and interest rate risk. By maintaining a high degree of diversification, Vista attempts to limit exposure to any one type of risk. Vista’s equity investment process relies heavily on the analysis of fundamental data to identify attractive investment opportunities.

Vista may take short positions if an arbitrage opportunity arises.
Utilizing analytical software, thousands of companies are screened and scored. The manager performs in-depth analysis on companies that score the highest. Investments are made in companies that appear to be undervalued in relation to their earnings, cash flows and growth rates. In addition, other factors such as management strength, financial condition, profitability, and consistency of performance are considered. Vista generally invests in individual common stocks, ADRs, ETFs and closed-end funds. On occasion, leveraged ETFs may be used.
Vista seeks exposure to all major industry sectors, growth and value stocks, large and small companies and international markets. Although exposure may vary, large U.S. companies will typically comprise approximately 40% of the portfolio, mid and small companies will also represent about 40%, and international (including emerging markets) will equal about 20% of the portfolio. The portfolio will typically hold 25 to 30 positions. Rebalancing is done on an ongoing basis. Generally, no individual company position will exceed 5% of the portfolio. However, a fund position might exceed the 5% threshold. Typical turnover should be approximately 25% per year.
When long-term fundamentals negatively change, or a price target is reached, the investment is sold. To help make this determination, Vista utilizes various analyses to evaluate all current investments. Each investment receives a score based on numerous factors. When the score drops below a certain threshold, it is evaluated for potential sale from the portfolio.
None.

Risk score

4
14.3%

Best 30 days

-16.7%

Worst 30 days

Performance

  • 5.0%
    30 day
  • 7.6%
    90 day
  • 36.2%
    365 day
Monthly vs S&P500
vista investment management - core holding
10.6% 12 months
Subscribe
  • $20,000 subscription min
  • Margin account required
  • 0.5% fee

Replicability

95.9%
4.1%
  • Replicable
  • Non-replicable

Top 5 Holdings View all

11.6%
7.2%
5.4%
4.3%
4.1%

Model commentary

  1. Stay cautious with this record stock rally

    16 April 2013

    There are still unresolved problems weighing on the economy.

  2. Why emerging markets and small companies offer the best growth opportunity 9 July 2012
  3. Europe delivers third straight US spring stock slide 6 June 2012
  4. A virtuous economic cycle may boost stocks higher 10 April 2012
  5. Patience, discipline and a long-term outlook will be rewarded 12 January 2012

show more


Performance detail

  • Manager
  • S&P 500
30D 90D 365D SI

Performance

Inception February 03, 2011
as of May 16, 2013 Manager S&P 500 Average Subscriber
Past 30 days 5.0% 4.8% -
Past 90 days 7.6% 8.6% -
Past 365 days 36.2% 24.6% -
Since Inception (Annualized) 13.0% 10.8% -
2013 (YTD) 16.6% 15.7% -
2012 23.4% 13.4% -

Risk Metrics

Last 365 days
as of May 16, 2013 Manager S&P 500
Best 30 days 9.2% 7.5%
Worst 30 days -5.5% -7.0%
Volatility 13.9% 12.8%
Sharpe Ratio 2.58 1.90
Sortino Ratio 3.91 2.75
Maximum Drawdown -5.9% -7.7%
Value-at-risk (95%, 1 week) -3.2% -3.0%
vs. S&P 500
Information Ratio 2.25
Alpha 8.9%
Beta 1.01
R-Squared 0.86
Vista IM's other strategies
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Subscribe
  • $20,000 subscription min
  • Margin account required
  • 0.5% fee

Latest transactions view all

Average trades per month 2.5
Executed Symbol Security Replicable Type Price
03/15/13 ZIV VelocityShares Daily Inverse VIX Medium Term ETN   Buy $30.21
03/15/13 SVXY PROSHARES SHORT VIX ST FUTUR Yes Sell $90.52
12/26/12 SVXY PROSHARES SHORT VIX ST FUTUR Yes Buy $67.65
09/13/12 SXI STANDEX INTL CORP Yes Buy $44.82
09/13/12 HIG Hartford Financial Services Group, Inc. (The) Yes Buy $19.14
09/13/12 CHK Chesapeake Energy Corp Yes Buy $19.70
09/13/12 PBR Petroleo Brasileiro SA Yes Buy $22.56
09/13/12 BAC Bank of America Corp Yes Sell $8.83


Important Information

1. Past performance is no guarantee of future results.

2. Performance of the model 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 that fail Covestor's trading rules, do not reflect any Covestor suitability or risk score restrictions and are exclusive of Covestor fees. More

3. Average subscription returns ("Avg Sub" or "Avg Client") are calculated by Covestor and are composed of the average, daily, time weighted returns of all active subscriptions to the underlying model. These daily average returns are then linked together for the timeframe requested. In addition, these returns include cash, dividends and earnings distributions, brokerage commissions, Covestor advisory fees, and reflect individual client suitability and risk score restrictions. More

4. All graph data is as of the end of day for the referenced period, unless otherwise specified. The subscription minimum is the minimum subscription required to follow a particular model. The minimum amount is determined by Covestor, based on the characteristics of the underlying model. 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 and do not include cash, dividends and earnings distributions, or 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 Model Manager information including personal data, profiles, strategies, monthly investment reports, and historical results outside of Covestor has been provided by the Model 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. Model classifications (Approach, Asset Class) are provided by Covestor, and are intended to serve as a general guide.

9. Top Replicable Holdings: These securities are currently held in the model manager's brokerage account. Those marked as "Replicable Holdings" currently pass Covestor's trading rules, subject to individual client constraints. Eligibility for replication may change over time. Actual client subscription holdings may vary.

10. Latest Transactions: These transactions were executed in the model manager's brokerage account. Those marked as "Replicable" () passed Covestor's trading rules and were eligible for replication at the time of execution, subject to individual client constraints. Eligibility for replication may change over time. Actual client subscription trade activity may vary.

11. S&P 500 Index is an unmanaged index compiled by Standard & Poor´s Corp. Index returns do not reflect any management fees, transaction costs or expenses. Individuals cannot invest directly in an Index. S&P 500 index data: S&P/Dow Jones Indices LLC, a subsidiary of The McGraw-Hill Companies Copyright © 2013.


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