Results
Consolidated time-weighted returns across all client accounts, net of all fees and commissions.
Annual Returns1
| Year | Return |
|---|---|
| 2025 | +15.4% |
| 2024 | +11.1% |
| 2023 | +6.4% |
| 2022 | −5.5% |
| 2021 | +17.3% |
| 2020 | +19.2% |
| 2019 | +21.8% |
Annualized Returns
| Period | Return |
|---|---|
| 2 Year | +13.2% |
| 3 Year | +10.9% |
| 5 Year | +8.8% |
| 7 Year | +11.9% |
| Since Inception* | +11.3% |
Cumulative Return
| Period | Return |
|---|---|
| Since Inception | +114.5% |
Assets under Management
| Year End | AUM | Total Wealth Created |
|---|---|---|
| 2025 | $22,254,453 | $8,210,630 |
| 2024 | $14,322,058 | $5,557,954 |
| 2023 | $12,968,780 | $4,133,179 |
| 2022 | $11,167,234 | $3,187,703 |
| 2021 | $10,214,849 | $3,871,164 |
| 2020 | $7,537,733 | $2,475,601 |
| 2019 | $9,329,858 | $1,190,787 |
Where We Invest
We go where the value is. Our portfolio spans 20 countries across four continents.
Country allocation by portfolio weight as of December 31, 2025.
How We Calculate
- S&P 500
- The S&P 500 index, comprising 500 of the largest U.S.-listed companies by market capitalization.
- S&P 75
- The 75 largest constituents of the S&P 500 by market capitalization, approximately 71% of the index by value.
- S&P 6
- Microsoft, Apple, Nvidia, Alphabet (Google), Amazon, and Meta (Facebook) — approximately 31% of the index by value.
- Market Capitalization
- Total market value of a company’s outstanding shares.
- Enterprise Value
- Market Capitalization plus total debt, minus cash and equivalents.
- Price to Sales Ratio
- Market Capitalization divided by Trailing 12 Month Sales.
- Enterprise Value Multiple
- Enterprise Value divided by Average Operating Income over the Last 3 Years.
- Price to Earnings Ratio
- Market Capitalization divided by Average Net Income over the Last 3 Years.
- Net Profit Margin
- Sum of the Last 10 Years of Net Income divided by the Sum of the Last 10 Years of Sales.
- Sales Growth
- Annualized Sales Growth over the Last 10 Years.
- Dividend Yield
- Currently Indicated Annual Dividend Yield.
- Wealth Created (Destroyed)
- Ending assets minus beginning assets minus net client deposits. The dollar gain (or loss) from investment returns alone, after all fees and commissions.
- Total Wealth Created
- Cumulative wealth created (destroyed) since inception. The running total of all annual gains and losses from investment returns, after all fees and commissions.
All returns are time-weighted, consolidated across custodians, and reported net of all fees and commissions. Return data is sourced from Interactive Brokers LLC (Flex Query) and Charles Schwab & Co., Inc. (Data Delivery). Returns are unaudited.
Disclosures
1. Consolidated returns do not represent the returns of any single client. All accounts are managed on a discretionary basis, individually tailored to each client’s risk tolerance. Client assets are held at Interactive Brokers LLC and/or Charles Schwab & Co., Inc.
*Inception: November 19, 2018 (7 years, 1 month, 12 days through December 31, 2025).
Country allocation by portfolio weight as of December 31, 2025.
Investing involves the possibility of loss. Past performance is not indicative of future results. Greyfield Capital Management LLC's Form ADV is available upon request and at adviserinfo.sec.gov.