2025 is in the books, and this post takes a hard look at how the portfolio actually performed.
Performance Overview
For most of the year, performance lagged expectations. The turning point came in September, when the portfolio regained momentum and ultimately finished slightly ahead of the S&P500.
One important caveat: the portfolio’s base currency is EUR, while most holdings are USD-denominated. In 2025, the euro appreciated meaningfully against the dollar, creating a notable currency headwind.
After adjusting for FX effects, the portfolio still delivered a +33% gain, which puts the underlying stock selection into much better perspective.
Top Contributors
The following stocks generated the largest absolute gains in the portfolio during 2025:
| Symbol | Index |
|---|---|
| IESC | Barrons 400 |
| FLEX | S&P 400 |
| NEU | S&P 400 |
| AVGO | S&P 500 |
| DG | S&P 500 |
| HII | S&P 500 |
| VRSN | S&P 500 |
| NEM | S&P 500 |
| UGI | S&P 400 |
| OSIS | Barrons 400 |
Largest Detractors
These were the ten positions with the biggest absolute losses:
| Symbol | Index |
|---|---|
| ATI | S&P 400 |
| PEGA | Barrons 400 |
| MOS | S&P 500 |
| EHC | S&P 400 |
| RL | S&P 500 |
| UI | Barrons 400 |
| ULS | Barrons 400 |
| WSM | S&P 400 |
| IDCC | Barrons 400 |
| KTOS | S&P 400 |
Changes to the Investment Universe
The Barrons 400 index is reconstituted only twice per year, and keeping its components up to date has proven unnecessarily cumbersome. More importantly, the stocks traded from the Barrons 400 delivered, on average, underwhelming results in 2025.
To keep things simple and aligned with a KISS mindset—I’ve decided to exclude the Barron’s 400 entirely starting in 2026.
Going forward, the ranking and selection process will focus exclusively on:
- S&P 500
- S&P 400
This reduces the investable universe to roughly 900 stocks instead of ~1,050, speeding up calculations of the ranking while maintaining broad market coverage.
Less friction, cleaner data, and a tighter process, that’s the direction I want the system to evolve in for 2026.
Thanks for reading, and best of luck in the markets in 2026!
See also
- Week 01: AMAT Acquired, FLEX & IESC Divested in Momentum Strategy (01 / 2026)
- Trade Tuesday Momentum Ranking – Week 52: COHR Joins as AVGO & IDCC Exit (52 / 2025)
- Week 51: Welcoming ALB; Parting Ways with SSRM and STRL in Momentum Strategy (51 / 2025)
- Week 50: CYTK and IDCC Buys, SBH Exit in Momentum Adjustment (50 / 2025)
- Trade Tuesday Week 49: Strategic Portfolio Rebalancing with ROIV and SATS (49 / 2025)