Model portfolio · the discipline is free · holdings for Members
The LCV Fund.
Large-cap value, run by a disciplined process. The systematic core beside our concentrated book.
A systematic basket of roughly twenty quality, financially-strong large-cap businesses — chosen, sized, and rebalanced by a disciplined, repeatable process. It is disciplined beta, not stock-picking: the human edge, name by name, lives in our concentrated mid-cap book. This is the quiet anchor; that is the engine.
The process is the fund.
A disciplined, repeatable process decides the whole book — quality and durability first, then price. Four disciplines:
Quality first, then price
We lead with business quality — durable returns on capital, a real competitive advantage, financial strength — and then ask how cheap it is for the cash it throws off. Good businesses at a fair price, not just statistically cheap ones.
A low-turnover buffer
A new name must earn its way into the top of the ranking to be bought, but a holding is kept until it falls well past it. A wide no-trade zone means we don't churn on noise.
Spread across subsectors
No more than a few names in any one subsector, so the book can't become a single-industry bet. Weighting, though, is not capped per name — see below — so a single large, cheap business can carry a meaningful share of the book.
Owner-earnings weighted, rebalanced quarterly
Each name is sized by the dollars of owner earnings its business produces — weight follows cash, not the crowd, and is deliberately uncapped. Re-ranked quarterly; sold immediately if its financial strength breaks.
The book.
20 names across 17 subsectors. Members see which ones.
The weights are real; the names are for Members.
How it has tracked.
Model · since April 1, 2026· ~10 weeks · vs S&P 500
Read this with real skepticism. Roughly ten weeks is statistical noise, not a track record — and over this window the fund trailed the S&P 500 (+7.77% vs +12.56%). The gain it did post is concentrated in a single holding; without that one name the book is roughly flat. This is a model— the book was selected by today’s process and its prices replayed from April 1, not a live position held since then. The number that will matter is the one that builds, honestly, from here.
The core is free · the alpha is the product
You can follow the core for nothing.
The LCV Fund’s discipline and track are open to everyone. What Members unlock is the holdings here — and the part a rule can’t do: the concentrated, high-conviction mid-cap book, each name reasoned in a cited memo, sized, and watched.