July was our first full month with capital deployed and the results are in. See how our model portfolio performed versus the S&P and MSCI World, and how we’re thinking about cash drag and risk.

In our first portfolio update, we walk through the initial positions, explain why we’re starting with a high cash balance, and share the key risks we’re watching (plus what’s on our research watchlist).

A guide outlining how we plan to build the portfolio over time, the investment principles that guide us, and the disciplined process we follow when making buy and sell decisions.