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.



Month to date



Quarter to date



Year to date


Quarterly vs S&P500

Quarterly vs S&P500

Risk score

  • 14.2%

    Best quarter

  • -11.4%

    Worst quarter

    • 1.5% fee
    • $10,000 min

Performance detail

Performance Portfolio inception November 22, 2011

as of March 22, 2017 Manager (net of fees ) S&P 500
Month-to-date -0.6% -0.6%
Quarter-to-date 4.0% 4.9%
Last 365 Days 11.6% 14.6%
Since inception (Annualized) 14.1% 13.6%
2017 (YTD) 4.0% 4.9%
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 March 22, 2017 Manager (net of fees ) S&P 500
Volatility 13.0% 10.1%
Sharpe Ratio 0.83 1.36
Sortino Ratio 1.12 1.79
Maximum Drawdown -9.4% -5.6%
Value-at-risk (95%, 1 week) -3.0% -2.3%
vs. S&P 500
Information Ratio -0.37
Alpha -2.4%
Beta 1.01
R-Squared 0.62


  • Consumer, Cyclical
  • Communications
  • Technology
  • Consumer, Non-cyclical
  • Energy

Top 5 securities

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Portfolio commentary

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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
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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.
  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.
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  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.