THE SNOWBALL PORTFOLIO
As at 1st Jan 2021
The Snowball Portfolio is a long-only global equity portfolio with concentrated positions (c.20-30 holdings) and a long-term time horizon. We aim to outperform our benchmark, the Vanguard Total World Stock Index, over the long-term. We also adopt option selling strategies (i.e. selling covered calls and naked puts) to take advantage of volatility and time decay.
We seek to invest in businesses with a durable economic moat, attractive unit economics, low capital intensity, significant reinvestment opportunities at a high ROIC, and have meaningful real option value. We prefer owner-operated businesses where key management holds a meaningful stake.
The Snowball Portfolio was incepted on 8 Jan 2020.
Since its inception, The Snowball Portfolio is up 23.18%. Meanwhile, the Vanguard Total World Stock Index is up 16.42%, representing an outperformance of 6.76%.