This graph reflects the performance of AlphaTarget’s equal-weight model portfolio based on our founder’s portfolio holdings in listed stocks, portfolio moves and hedging gains/losses. The founder’s actual portfolio, with varied weightings, achieved a return of +66% from 6 June 2024 to 3 June 2025 and its returns will always differ from the equal-weight model portfolio. We use an equal-weight approach to present a conservative performance figure and to avoid accusations of hindsight bias in weighting decisions (e.g., increasing allocations to stocks that performed well and reducing allocations to those that underperformed). Up until May 2025, the model portfolio also excluded the founder’s portfolio adds and trims to maintain simplicity and adopt a conservative approach in calculating performance but we now incorporate those position changes so the model portfolio more accurately reflects the real-world portfolio moves we share with subscribers via timely alerts. The model portfolio is a genuine reflection of the founder’s real-world stock picking and hedging activities. This is not a record of client trading results and may not reflect the experience of AlphaTarget’s subscribers, who manage their portfolio individually by themselves based on their specific investment strategies, risk tolerances, and account sizes.

At the portfolio’s measurement start (6 June 2024) the founder’s portfolio holdings were allocated equally based on the model portfolio’s value at that time. New stocks were added with equal allocations based on the current portfolio value. Founder-initiated additions, new buys, trims, sales, and hedging actions (including gains and losses), which were communicated to AlphaTarget’s subscribers via alerts and are archived on our website’s Research hub, are reflected in the model portfolio performance to the extent described above. Performance shown is gross of transaction costs and taxes which would reduce actual returns. Both the portfolio and S&P 500 returns exclude dividends. The S&P 500 is used as a benchmark for general market comparison but may not reflect the portfolio’s risk or investment style. All investments involve risk, including the potential loss of principal.

Past performance is not indicative of future results and should not be construed as constituting investment advice to buy, sell or subscribe to any particular securities or other investments/financial products. AlphaTarget is not a registered financial adviser and publishes research for educational and informational purposes only. This content is not intended to provide financial advice and may not be suitable for all jurisdictions. AlphaTarget does not in any circumstances provide investment advice and is not familiar with your circumstances and financial objectives; you must undertake your own due diligence and seek advice from your own professional investment adviser before buying, selling or holding any security or other investment/financial product.