Vista IM

Core Holding

  • Strategy Stocks
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.



Month to date



Quarter to date



Year to date


Quarterly vs S&P500

Quarterly vs S&P500

Risk score

  • 14.1%

    Best quarter

  • -14.8%

    Worst quarter

    • 0.5% fee
    • $20,000 min
  • Required: Margin account

Performance detail

Performance Portfolio inception February 03, 2011

as of March 22, 2017 Manager (net of fees ) S&P 500
Month-to-date -0.1% -0.6%
Quarter-to-date 6.9% 4.9%
Last 365 Days 18.5% 14.6%
Since inception (Annualized) 10.2% 10.0%
2017 (YTD) 6.9% 4.9%
2016 9.9% 9.5%
2015 -3.0% -0.7%
2014 6.2% 11.4%
2013 33.3% 29.6%
2012 22.8% 13.4%

Risk metrics Last 365 days

as of March 22, 2017 Manager (net of fees ) S&P 500
Volatility 11.5% 10.1%
Sharpe Ratio 1.54 1.36
Sortino Ratio 1.95 1.79
Maximum Drawdown -7.2% -5.6%
Value-at-risk (95%, 1 week) -2.7% -2.3%
vs. S&P 500
Information Ratio 1.09
Alpha 2.3%
Beta 1.08
R-Squared 0.91


  • Equity Fund
  • Consumer, Non-cyclical
  • Financial
  • Technology
  • Industrial

Top 5 securities

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Portfolio commentary

  1. Profile Picture Be wary of Trumphoria January 20, 2017

    Investors may be leaning over the tip of their skis about Trump

  2. Profile Picture In search of earnings growth May 18, 2016
  3. Profile Picture US stock valuations improve amid market turmoil October 19, 2015
  4. Profile Picture Rates, earnings shape stock market contours July 27, 2015
  5. Profile Picture The stock market's Fed dependency problem April 22, 2015
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Latest transactions Average trades per month 1.5

Executed Symbol Security Type Price
February 22, 2017 CSX CSX Corp Sell $48.51
November 15, 2016 HBI Hanesbrands Inc Buy $25.71
November 15, 2016 ADNT Adient PLC Sell $47.46
November 15, 2016 SXI Standex International Corp Sell $88.80
November 10, 2016 SYF Synchrony Financial Sell $31.00
November 09, 2016 TMO Thermo Fisher Scientific Inc Sell $155.82
October 24, 2016 MBRG Middleburg Financial Corp Buy $30.75
October 24, 2016 ANCX Access National Corp Sell $24.00
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Manager's other portfolios

Vista IM - Core Equity Core Equity

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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 reflects the deduction of 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 retroactively to present the portfolio return "net-of-fees".
  3. Average client returns are calculated by Covestor and are composed of the asset-weighted daily 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, and earnings distributions, and reflect the deduction of Covestor advisory fees, brokerage and other commissions and expenses actually paid by clients.
  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. 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 displayed have been calculated by Covestor using daily benchmark prices and do not include dividend income. More information here. For certain portfolios Covestor 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. 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 of Portfolio Managers 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 accounts 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. This portfolio uses short selling. 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.
  11. This portfolio uses borrowed funds or leverage to fund investments. 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.