The Cohorts · Quarterly vintage
Inception 2025-10-01 · 0.7 years held
Q4 2025 · Top 20.
On 2025-10-01, these 20 businesses were the 20most-undervalued names in our coverage universe by Mr. Market's protocol. We've held them, equal-weighted, since.
Q4 2025 · Top 20 · since inception
+5.6%
CAGR 7.9% annualised
S&P 500 · since inception
+12.6%
CAGR 18.0% annualised
Spread
-7.0%
This cohort has trailed the index.
Other cohorts at the same inception
The constituents.
Ranked, on the inception date, by Δ% to intrinsic value. Each holding is equal-weighted at 5.0% of the portfolio.
| Rank | Ticker | Entry price | Entry IV | Entry Δ% | Current price | Return | Contribution | |
|---|---|---|---|---|---|---|---|---|
| 1 | OXY | $47.00 | $331.78 | +612.9% | $51.82 | +10.2% | +0.5% | Read → |
| 2 | BAC | $49.88 | $340.69 | +571.0% | $56.20 | +12.7% | +0.6% | Read → |
| 3 | CVX | $150.02 | $772.14 | +412.3% | $173.63 | +15.7% | +0.8% | Read → |
| 4 | CAT | $477.41 | $2,395.05 | +405.5% | $985.82 | +106.5% | +5.3% | Read → |
| 5 | WMT | $101.35 | $502.77 | +399.9% | $117.18 | +15.6% | +0.8% | Read → |
| 6 | JPM | $306.25 | $1,355.17 | +335.9% | $325.22 | +6.2% | +0.3% | Read → |
| 7 | UNH | $341.36 | $1,188.89 | +251.3% | $400.96 | +17.5% | +0.9% | Read → |
| 8 | GOOGL | $244.42 | $840.46 | +246.4% | $368.03 | +50.6% | +2.5% | Read → |
| 9 | JNJ | $182.85 | $600.52 | +236.4% | $228.39 | +24.9% | +1.2% | Read → |
| 10 | UNP | $230.96 | $781.17 | +235.9% | $256.88 | +11.2% | +0.6% | Read → |
| 11 | META | $715.48 | $2,404.86 | +228.3% | $577.22 | -19.3% | -1.0% | Read → |
| 12 | ADBE | $343.72 | $1,169.23 | +227.8% | $195.16 | -43.2% | -2.2% | Read → |
| 13 | LOW | $244.50 | $749.66 | +217.7% | $222.20 | -9.1% | -0.5% | Read → |
| 14 | V | $345.71 | $1,041.85 | +207.1% | $327.24 | -5.3% | -0.3% | Read → |
| 15 | PG | $149.91 | $452.40 | +200.9% | $150.38 | +0.3% | +0.0% | Read → |
| 16 | MA | $571.17 | $1,591.78 | +181.1% | $489.79 | -14.2% | -0.7% | Read → |
| 17 | PEP | $139.04 | $341.24 | +140.0% | $142.02 | +2.1% | +0.1% | Read → |
| 18 | MCD | $295.07 | $682.14 | +128.6% | $278.61 | -5.6% | -0.3% | Read → |
| 19 | MSFT | $516.44 | $1,131.63 | +119.9% | $379.40 | -26.5% | -1.3% | Read → |
| 20 | NKE | $72.59 | $159.68 | +112.1% | $45.20 | -37.7% | -1.9% | Read → |
Biggest contributors
Where the cohort earned its keep.
- CAT · $477.41 → $985.82+106.5%
- GOOGL · $244.42 → $368.03+50.6%
- JNJ · $182.85 → $228.39+24.9%
Biggest detractors
Where the protocol got it wrong.
- ADBE · $343.72 → $195.16-43.2%
- NKE · $72.59 → $45.20-37.7%
- MSFT · $516.44 → $379.40-26.5%