Y H & C Investments

Long Term GARP



  • Strategy Stocks
GARP stands for Growth at a Reasonable Price. My Long Term GARP portfolio attempts to buy companies with sustainable, growing businesses that I believe have potential to appreciate in value over multiple years.
Investments are chosen based on my measures of balance sheet and management quality, and my assessment of a company’s long-term growth potential. I consider my investment style to be mainly GARP (Growth at a Reasonable Price). I look for businesses that can grow for long periods of time, but that are still available at attractive prices. My approach to building wealth is to find great companies that have strategic competitive advantages and to own them as they grow larger.
Research includes an analysis of a company's competitive positioning, a review of past, present and future operations, a and a look at a company' s financial situation including cash levels, debt and contingent liabilities. It also includes a review of earnings quality, the way the company is governed, and extensive look at valuations. I also review annual reports, regulatory filings, insider trades and recent company news.
I want to concentrate capital in companies that have attractive businesses and positive long-term growth prospects. I attempt to build large positions in those companies when they become available at what I believe are attractive prices. As a result, the portfolio is typically concentrated in a few positions that I believe fit my strategy.
I believe great businesses are meant to be owned for many years, and in some cases decades. I only want to sell the companies in this portfolio if there is a fundamentally negative change in the business, or if buyers are more than fairly compensating current stock owners for their share of the equity.
Major world events could cause me to make exceptions to my investing philosophy with regard to certain holdings.

Portfolio Manager performance

4.4%

Month to date

MTD

4.4%

Quarter to date

QTD

9.8%

Year to date

YTD

Quarterly vs S&P500

Quarterly vs S&P500

Risk score

  • 14.2%

    Best quarter

  • -11.4%

    Worst quarter

    • 1.5% fee
    • $10,000 min

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 November 22, 2011

as of April 26, 2017 Manager (net of fees ) S&P 500
Month-to-date 4.4% 1.0%
Quarter-to-date 4.4% 1.0%
Last 365 Days 13.8% 14.1%
Since inception (Annualized) 14.9% 13.7%
2017 (YTD) 9.8% 6.6%
2016 4.2% 9.5%
2015 -4.4% -0.7%
2014 5.2% 11.4%
2013 41.8% 29.6%
2012 27.1% 13.4%

Risk metrics Last 365 days

as of April 26, 2017 Manager (net of fees ) S&P 500
Volatility 12.6% 9.9%
Sharpe Ratio 1.03 1.34
Sortino Ratio 1.32 1.77
Maximum Drawdown -9.4% -5.6%
Value-at-risk (95%, 1 week) -2.9% -2.3%
vs. S&P 500
Information Ratio -0.04
Alpha 0.2%
Beta 0.98
R-Squared 0.60

Exposure

31.3%
25.2%
21.2%
12.6%
9.2%
  • Consumer, Cyclical
  • Communications
  • Technology
  • Consumer, Non-cyclical
  • Energy

Top 5 securities

20.6%
14.4%
11.0%
10.8%
5.6%
View all

Portfolio commentary

  1. Profile Picture Belichick on reliability April 26, 2017

    Investing lessons from the coach of the New England Patriots

  2. Profile Picture Beware trendy stocks April 18, 2017
  3. Profile Picture Slow motion economy April 05, 2017
  4. Profile Picture Leaders: the right stuff March 30, 2017
  5. Profile Picture Why diversification matters March 22, 2017
Show more

Latest transactions Average trades per month 0.5

Executed Symbol Security Type Price
December 21, 2016 PARR Par Pacific Holdings Inc Buy $14.40
December 21, 2016 RAD Rite Aid Corp Sell $8.55
December 20, 2016 ICON Iconix Brand Group Inc Sell $9.58
December 19, 2016 QVCA Liberty Interactive Corp QVC Group Buy $20.13
December 13, 2016 LGF/B Lions Gate Entertainment Corp Buy $25.57
October 04, 2016 RAD Rite Aid Corp Buy $7.62
October 04, 2016 QVCA Liberty Interactive Corp QVC Group Buy $20.20
May 25, 2016 CFRUY Cie Financiere Richemont SA Buy $5.78
View all

Manager's other portfolios

Y H & C Investments - Concentrated GARP Concentrated GARP

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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-Covestor performance information may include performance of non-Covestor client accounts. 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. None of the performance information displayed on this page is based on the actual performance of any Covestor client account investing in this portfolio. The performance in a Covestor 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 Covestor 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 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. 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.
  8. 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.