# My Model Portfolio

Source: https://josephnoko.com/my-model-portfolio/

My model portfolio is an equally-weighted version of my personal portfolio, the ideas behind which I publish [on this website](https://josephnoko.com/), and on the buy-side investment community, SumZero[^1]. The rules governing my portfolio simple:

1. The security must be publicly listed and, if a stock, have a market capitalisation of at least $100 million.
2. For stocks and corporate bonds, after making the appropriate [accounting adjustments](https://josephnoko.com/notes-on-accounting-adjustments/) to the financial statements, I use [my stock rating](https://josephnoko.com/how-i-rate-stocks/) or [credit rating](https://josephnoko.com/my-credit-ratings-methodology/) methodology to determine if the security is very attractive or attractive. If so, it goes into the model portfolio.
3. The model portfolio is equal-weighted to make it easier for the reader to follow the success of each idea.
4. If the stock or corporate bond reaches a neutral rating, I assess the economics of the business against that of its peers and the rest of the market, to see if I can find a better risk/reward proposition, otherwise, I close the position.
5. The performance of the portfolio is measured against that of the S&P 500, depending on which is the greater.

The portfolio at present is extremely concentrated, as the pie chart below shows, with a total return average and annualised return of over 20%, as of the end of August 2026.

[Model Portfolio](https://datawrapper.dwcdn.net/C4eRw/52/)

Performance is assessed at the end of every quarter using SumZero’s algorithm. Readers who are members of SumZero can assess the current returns there.

## Notes

[^1]: SumZero. [sumzero.com](https://sumzero.com/pro/members/profiles/34621)