The Junto Portfolio
Before Proceeding
How to Follow the Portfolio
Create a separate brokerage account (optional)
You can choose to invest fully or partly with the Junto portfolio. With either option, we advise you to create a separate brokerage account for the capital you wish to invest. This makes it easy to manage and assess the relative performance of your other investments.
Determine your source of capital and tax position
Depending on whether you're investing through personal (taxed) assets, a corporation, a 401(k), or other pension plan, you're investment return might be taxed differently. While tax rules should have little regard in terms of making rational investment decisions, it's important that you are aware of how and when your investment income will be taxed.
Since Junto is a global community of wonderful investors, we can't provide tax advice or guidance about your specific country as tax policies vary widely between jurisdictions. If you invest through personal assets, your country's capital gains tax should be rather straightforward.
Calculate your portfolio allocation
Locate the allocation calculator by scrolling down the page and clicking on 'Open Calculator'.
Enter your capital available for investment and update the current prices of the portfolio holdings.
You will now find the amount of shares to purchase for each portfolio holding in order to achieve the same weighting as the Junto portfolio. Additionally, you will see the amount to allocate as cash.
Make Initial Investments
Use the information calculated at step 3 and purchase the correct amount of shares of each holding in your brokerage account. Make sure that the cash allocation is approximately the same as given at step 3.
If you at some point decide to increase or decrease your capital available for investment, simply use the calculator again to adjust for the new capital amount.
Buy and sell along with us
You will receive balance reports by the end of each month and immediate notifications when a purchase or sale has occurred. Changes to positions and the corresponding portfolio impact are shown on a relative basis (% increase or decrease) so you can easily adjust your portfolio on the same basis.
Every quarter, we provide a more in-depth quarterly report detailing our thoughts on the current state of the market, our portfolio companies, and occasional musings.
The Junto portfolio was initiated on January 27, 2020.
As Junto subscriber, you will receive immediate email notifications when a purchase or sale has occurred. Every quarter, we provide a more in-depth quarterly report detailing our thoughts on the current state of the market, our portfolio companies, and occasional musings.
Please be advised that in accordance with Junto's long-term perspective, the portfolio shown on this page is only updated periodically by the end of each month or when a transaction has occurred.
Portfolio as of 28.09.2020
Absolute values are per share
Returns include dividends received
| Security | Weight | Cost | Market | Dividends | Return |
|---|---|---|---|---|---|
| Fairfax Financial | 23.43% | CAD380.92 ($277.96) | CAD378.48 | 0 | +1.62% |
| The Goldman Sachs Group | 8.47% | $139.08 | $199.00 | $1.25 | +43.98% |
| General Motors Co | 8.17% | $16.45 | $29.59 | 0 | +79.88% |
| Autohome Inc | 5.12% | $64.16 | $91.46 | $0.77 | +34.68% |
| GrafTech International | 2.44% | $9.85 | $7.44 | $0.085 | -23.50% |
| Cash | 52.37% | ||||
| Total | 100% |
Closed Positions
| Security | First Purchase Date | Last Sale Date | Total Return |
|---|---|---|---|
| Delta Air Lines | 17.03.2020 | 08.06.2020 | +44.71% |
| Southwest Airlines | 19.03.2020 | 08.06.2020 | +22.85% |
| SINA Corp | 27.01.2020 | 28.09.2020 | +8.97% |
| Danske Bank | 19.03.2020 | 28.09.2020 | +24.57% |
Portfolio Performance
Dividends included
| Total Return (YTD) | |
|---|---|
| Junto Portfolio | +15.14% |
| S&P 500 | +3.26% |
| MSCI World | +0.16% |
Latest Activity
| Date | Security | Activity | Price (inc. fees) | Portfolio Impact |
|---|---|---|---|---|
| 27.01.2020 | SINA Corp | Buy | $39.00 | +11.19% |
| 18.02.2020 | GrafTech International | Buy | $9.85 | +4.06% |
| 17.03.2020 | Delta Air Lines Co | Buy | $31.10 | +3.15% |
| 18.03.2020 | General Motors Co | Buy | $16.45 | +5.78% |
| 19.03.2020 | Southwest Airlines Co | Buy | $32.30 | +6.10% |
| 19.03.2020 | Danske Bank A/S | Buy | DKK72.25 ($10.47) | +5.40% |
| 19.03.2020 | The Goldman Sachs Group | Buy | $139.08 | +7.05% |
| 19.03.2020 | Delta Air Lines Co | Buy | $22.12 | +4.25% |
| 20.03.2020 | Autohome Inc | Buy | $64.16 | +4.12% |
| 01.04.2020 | GrafTech International | Dividend | $0.085 | |
| 11.04.2020 | Autohome Inc | Dividend | $0.77 | |
| 13.04.2020 | Fairfax Financial | Buy | CAD400.60 ($288.20) | +10.00% |
| 11.05.2020 | Fairfax Financial | Buy | CAD345.85 ($247.04) | +5.00% |
| 08.06.2020 | Delta Air Lines Co | Sale | $36.37 | -8.52% |
| 08.06.2020 | Southwest Airlines Co | Sale | $39.67 | -6.02% |
| 30.06.2020 | The Goldman Sachs Group | Dividend | $1.25 | |
| 01.07.2020 | GrafTech International | Dividend | $0.01 | |
| 28.09.2020 | SINA Corp | Sale | $42.50 | -10.60% |
| 28.09.2020 | Danske Bank | Sale | DKK83.48 ($13.04) | -5.55% |
| 28.09.2020 | Fairfax Financial | Buy | CAD381.00 ($284.33) | +9.88% |
Your Portfolio Allocation
Use the calculator to determine your initial holdings weights for your investments capital or as a periodic rebalancing tool to follow the Junto portfolio.
Footnotes
The Junto portfolio is a close, and not accurate, representation of research analyst, Oliver Sung's, overall investment portfolio. While portfolio holdings are equivalent, average cost, dividends received, or weightings can differ.
A 0.50% trading fee (including commission and spread) is added to the cost of purchases and sales.
Dividends received from portfolio companies are added to the cash balance and reinvested on a discretionary basis. If the dividend-paying investment is priced attractively at the time of payout, the dividend will usually be reinvested in the same company unless more obviously attractive opportunities are present.
Since tax situations and policies are different for all investors depending on geography, circumstances, and source of capital, the Junto portfolio appears tax-neutral.
Returns are calculated based on percentage change (including dividends received and trading fees paid) of our starting assets present at the beginning of each year.
This policy allows us to not incorporate any fuzzy, confused investment decisions rationalized through so-called "tax considerations" not applicable to all Members. We make investment decisions based on our evaluation of the most profitable combination of probabilities.
The content provided on the Junto Investments (“Junto”) website is for informational purposes only, and investors should not construe any such information or other content as legal, tax, investment, financial, or other advice. Nothing contained on junto.investments constitute a solicitation, recommendation, endorsement, or offer by Junto or any third party service provider to buy or sell any securities or other financial instruments in this or in any other jurisdiction in which such solicitation or offer would be unlawful under the securities laws of such jurisdiction.
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