Two Year-End Adjustments to the Portfolio

Improving our Portfolio's expected forward CAGR with two additional purchases

Next Monday, we’ll be adding to two existing positions (increasing their combined allocations by roughly 3% of the portfolio value). We’re not selling out of any existing positions.

These two stocks are expected to clear our long-term >12% IRR hurdle, and lower our exposure to some overweight names that have enjoyed significant multiple expansion. As we said earlier this year, full transparency is what our members expect.