Limits overlap among growth-oriented holdings.
GPIQ · QDVO · STKOriginal AI portfolio · Armchair Insider 2026 Q4 Fund · 5-year lookback
What if we invested $1,000,000 5 years ago?
Apply this model portfolio’s allocations at the start, reinvest each holding’s distributions, and hold without rebalancing or adding money.
View model portfolio & allocationsOct 11, 2021 – Oct 9, 2026Latest available completed session · Cash-until-launch scenario
This exact portfolio could not be bought in full 5 years ago. $430,000 (43.00%) stays in cash at 0% until the newer funds have a market price: GPIX — $80,000 invested Oct 27, 2023; GPIQ — $60,000 invested Oct 27, 2023; IDVO — $60,000 invested Sep 8, 2022; QDVO — $40,000 invested Aug 22, 2024; NIHI — $40,000 invested Sep 17, 2025; PBDC — $40,000 invested Sep 30, 2022; FSCO — $30,000 invested Nov 14, 2022; MLPI — $30,000 invested Dec 18, 2025; IYRI — $30,000 invested Jan 15, 2025; KGLD — $20,000 invested Jul 9, 2025. The result below includes this cash assumption.
Your $1,000,000 becomes$1,720,780Portfolio value at the end
Total gain / loss+$720,780After reinvesting distributions
5-year total return+72.08%Gain / loss ÷ $1,000,000
Same investment in S&P 500$1,914,988SPY · +91.50% · same dates
This plan + cash until launchS&P 500 (SPY)
See each holding’s contribution · 20 investments
Starting dollar allocations match the model portfolio below. Contribution is each holding’s gain or loss divided by the full $1,000,000 budget; it adds up to the portfolio return.
| Holding | Starting allocation | Invested on | Ending value | Gain / loss | Contribution |
|---|---|---|---|---|---|
| GPIXGoldman Sachs S&P 500 Premium Income | $80,0008% | Oct 27, 2023Cash at 0% until this date | $148,323 | +$68,323 | +6.83 pp |
| DIVOAmplify CWP Enhanced Dividend Income | $80,0008% | Oct 11, 2021 | $137,932 | +$57,932 | +5.79 pp |
| IDViShares International Select Dividend | $80,0008% | Oct 11, 2021 | $147,172 | +$67,172 | +6.72 pp |
| GPIQGoldman Sachs Nasdaq-100 Premium Income | $60,0006% | Oct 27, 2023Cash at 0% until this date | $122,389 | +$62,389 | +6.24 pp |
| OVLOverlay Shares Large Cap Equity | $60,0006% | Oct 11, 2021 | $116,456 | +$56,456 | +5.65 pp |
| SCHDSchwab U.S. Dividend Equity | $60,0006% | Oct 11, 2021 | $93,936 | +$33,936 | +3.39 pp |
| ADXAdams Diversified Equity | $60,0006% | Oct 11, 2021 | $118,580 | +$58,580 | +5.86 pp |
| IDVOAmplify International Enhanced Dividend Income | $60,0006% | Sep 8, 2022Cash at 0% until this date | $126,845 | +$66,845 | +6.68 pp |
| CEFSSaba Opportunistically Hedged Closed-End Funds | $60,0006% | Oct 11, 2021 | $109,476 | +$49,476 | +4.95 pp |
| UTFCohen & Steers Infrastructure | $50,0005% | Oct 11, 2021 | $67,492 | +$17,492 | +1.75 pp |
| QDVOAmplify CWP Growth & Income | $40,0004% | Aug 22, 2024Cash at 0% until this date | $61,198 | +$21,198 | +2.12 pp |
| NIHINEOS MSCI EAFE High Income | $40,0004% | Sep 17, 2025Cash at 0% until this date | $45,491 | +$5,491 | +0.55 pp |
| FOFCohen & Steers Closed-End Opportunity | $40,0004% | Oct 11, 2021 | $55,238 | +$15,238 | +1.52 pp |
| PBDCPutnam BDC Income | $40,0004% | Sep 30, 2022Cash at 0% until this date | $61,253 | +$21,253 | +2.13 pp |
| PFFAVirtus InfraCap U.S. Preferred Stock | $40,0004% | Oct 11, 2021 | $50,394 | +$10,394 | +1.04 pp |
| STKColumbia Seligman Premium Technology Growth | $40,0004% | Oct 11, 2021 | $111,194 | +$71,194 | +7.12 pp |
| FSCOFS Credit Opportunities Corp. | $30,0003% | Nov 14, 2022Cash at 0% until this date | $54,363 | +$24,363 | +2.44 pp |
| MLPINEOS MLP & Energy Infrastructure High Income | $30,0003% | Dec 18, 2025Cash at 0% until this date | $35,420 | +$5,420 | +0.54 pp |
| IYRINEOS Real Estate High Income | $30,0003% | Jan 15, 2025Cash at 0% until this date | $32,962 | +$2,962 | +0.30 pp |
| KGLDKurv Gold Enhanced Income | $20,0002% | Jul 9, 2025Cash at 0% until this date | $24,666 | +$4,666 | +0.47 pp |
| Portfolio total | $1,000,000 | Oct 11, 2021 | $1,720,780 | +$720,780 | +72.08% |
Hypothetical hindsight illustration using this plan’s selected holdings and allocation weights. It is not the creator’s actual historical portfolio or a live performance record. Each position’s ending value is its initial allocation × ending adjusted close ÷ purchase-date adjusted close. Distributions are reinvested in the same security; no rebalancing, withdrawals or new contributions. Fractional shares are assumed. Personal taxes and transaction costs are excluded; fund expenses are reflected in market-price performance.
The window ends on the latest verified session shared by all holdings and begins on the first matched trading session on or after its 5-year anniversary. International comparisons require same-date prices and exchange rates. Chart points use dates with prices for every invested holding. Dollar values are rounded for display; totals use unrounded values. New funds use their first available market close, which can follow the issuer’s inception date. Return methodology · MLPI exchange listing
All holdings checked Oct 10, 2026.
Archived original · September 20 · $1M budget
Armchair Insider 2026 Q4 Fund
Income today. Room to grow tomorrow.
A diversified income portfolio combining broad equity exposure, option income, international dividends and smaller specialist positions. Larger weights favor a repeatable strategy and a less concentrated route to total return.
Prepared Sep 20, 2026 · USD · Distributions reinvestedThe investment case
Why this portfolio
01
Balance income and total return
Start with the active Armchair collection, then consider the one-year result, the longer available record and drawdowns. Broad strategies receive more capital than narrow themes, even when the latter lead the recent-return table.
02
Give each strategy a job
Use U.S. equity income as the core, diversify internationally, and add credit and real assets. DIVO and SCHD are Income Lens comparison selections included for this model; these weights do not reproduce the newsletter portfolio.
03
Size uncertainty deliberately
GPIQ, QDVO and STK share growth-stock exposure, so their combined weight is limited. Gold and recently launched energy infrastructure stay small. CEF premium/discount and NAV trends remain part of the entry review.
Where the capital goes
Allocation by role
- U.S. equity income$360,00036%
- International dividends$180,00018%
- Dividend equity$120,00012%
- Real assets$110,00011%
- Credit and preferreds$110,00011%
- Diversified CEFs$100,00010%
- Gold strategy$20,0002%
Direct portfolio allocations. Underlying companies, managers and credit exposures can overlap across funds.
The $1,000,000 plan
View the full research universe Holdings & allocations
Percentages are of the whole fund. Dollar amounts are targets to invest, rather than current market values.
20 of 20 holdings · Every amount is a proposed allocation in USD.
| Investment | Weight | Amount to invest | Why this allocation |
|---|---|---|---|
| 8% | $80,000 | Selective covered calls and dividend equities provide a core counterweight to more aggressive income strategies; its observed drawdown is lower than several thematic peers. | |
| 8% | $80,000 | Broad S&P 500 exposure with option income earns a core weight; it spreads company risk more widely than a single theme. What to watchCall writing can limit upside, and distributions vary with strategy results. Research source | |
| 8% | $80,000 | A long trading record and a different international stock mix support the largest overseas allocation. What to watchCurrency moves, regional concentration and uneven quarterly distributions. Research source | |
| 6% | $60,000 | Diversified U.S. equities and a long record provide a growth engine alongside the option-income allocation. What to watchCEF discount changes and managed distributions can move independently of earnings. Research source | |
| 6% | $60,000 | A diversified CEF strategy adds a different source of opportunity from direct equity index exposure. | |
| 6% | $60,000 | Adds growth participation with option income, below the GPIX weight because Nasdaq exposure is more concentrated. | |
| 6% | $60,000 | Complements IDV with a different international income approach; the smaller weight accounts for a shorter history. | |
| 6% | $60,000 | A different options implementation diversifies how the U.S. equity sleeve earns income while retaining broad-stock exposure. | |
| 6% | $60,000 | Adds a dividend-quality equity allocation whose upside is not capped by a call-writing policy. | |
| 5% | $50,000 | Infrastructure businesses broaden the income sources beyond technology, consumer stocks and corporate credit. | |
| 4% | $40,000 | Adds another diversified CEF approach while keeping combined fund-of-funds exposure at a controlled weight. | |
| 4% | $40,000 | Completes the international allocation with developed-market option income, sized below the longer-established alternatives. | |
| 4% | $40,000 | Diversifies private-lending exposure across BDCs; the modest weight reflects recent weakness in that segment. | |
| 4% | $40,000 | Preferred securities diversify the form of income, but leverage and rate sensitivity keep this below core equity weights. | |
| 4% | $40,000 | Keeps a measured allocation to growth and income without letting growth-stock overlap dominate. | |
| 4% | $40,000 | Strong observed total returns justify participation, while technology concentration and past drawdowns limit its size. | |
| 3% | $30,000 | Retains specialist credit exposure at a small weight while its weak recent market-price return warrants caution. | |
| 3% | $30,000 | Provides a modest real-estate income allocation without making the portfolio depend heavily on property or rate forecasts. | |
| 3% | $30,000 | Energy infrastructure diversifies the economic drivers, with a small allocation because the current fund has less than a year of history. What to watchEnergy-sector and option risk; older history from the retired same-ticker product is excluded. Research source | |
| 2% | $20,000 | A small gold-linked allocation broadens the return drivers; the income wrapper is too new for a large position. | |
| Total allocation | 100% | $1,000,000 | 20 holdings · Fully allocated |
Concentration limits
Spreads equity income across regions and approaches.
IDV · IDVO · NIHIKeeps specialist strategies from driving the whole portfolio.
KGLD · MLPIThese are direct-position controls, not a complete look-through exposure calculation. No margin borrowing is assumed at the model level; underlying funds may use leverage.
Maintain the investment case
When to review
- Review after Q4 at the start of January 2027; use reinvested distributions to replenish underweight positions first.
- Reassess an option fund when distributions rise while NAV or total return persistently weakens. A large payout alone is not evidence of earning power.
- Review CEF prices against current NAV before implementing or adding. A widening premium can remove the attraction of an otherwise useful strategy.
- Rebalance a holding above 10% or below 1%; otherwise review a drift of more than two percentage points from its target. Newer strategies need a longer record before receiving core weights.
Selective by design
Why some names stay out
MSTY · BTCI
Their large observed drawdowns and crypto-linked exposure do not earn a place in this balanced income model.
KSLV · KCOP · KQQQ
Recent performance or thematic appeal does not outweigh short histories, commodity volatility or additional technology overlap.
PTY
Weak recent and longer market-price total returns make other income strategies a higher priority for this edition.
Excluded from this model does not mean excluded from the research universe.
Sources & assumptions
The portfolio weights are our judgments about strategy fit, earnings or income potential, diversification and risk. Market-price history through Sep 18, 2026 provides context; past returns are not expected future returns. Current valuation, NAV discounts and payout coverage are not available as a complete live dataset.
Armchair Insider · August 2026Income, diversification and total return; IDV addition and the importance of CEF premiums and NAV.Goldman Sachs · Premium Income ETFsGPIX and GPIQ combine equity exposure with actively managed call writing.Amplify · DIVO strategyDividend equities and selective covered calls provide a different implementation from broad index overlays.Schwab · SCHD strategyDividend-equity exposure provides an uncapped equity allocation alongside option-income funds.
Model basis. A long-term, fully invested $1,000,000 USD portfolio with distributions reinvested. The Q4 label identifies this allocation edition, not a three-month return forecast. Dollar targets exclude personal taxes, commissions and share-rounding differences.
Independent research. This is an Income Lens model inspired by the named philosophy. It is not an official creator portfolio, a registered fund offering or a representation that the holdings are suitable for every investor. No trades have been placed.