What if we invested $100,000 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 & allocationsThis exact portfolio could not be bought in full 5 years ago. $21,212 (21.21%) stays in cash at 0% until the newer funds have a market price: PBDC — $7,071 invested Sep 30, 2022; CCIF — $1,010 invested Jul 27, 2023; PAXS — $5,050 invested Jan 27, 2022; RLTY — $3,030 invested Feb 24, 2022; FSCO — $5,051 invested Nov 14, 2022. The result below includes this cash assumption.
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 $100,000 budget; it adds up to the portfolio return.
| Holding | Starting allocation | Invested on | Ending value | Gain / loss | Contribution |
|---|---|---|---|---|---|
| BBDCBarings BDC | $5,0515.051% | Oct 11, 2021 | $6,763 | +$1,712 | +1.71 pp |
| PBDCPutnam BDC Income | $7,0717.071% | Sep 30, 2022Cash at 0% until this date | $10,828 | +$3,757 | +3.76 pp |
| FOFCohen & Steers Closed-End Opportunity | $9,0919.091% | Oct 11, 2021 | $12,554 | +$3,463 | +3.46 pp |
| EICEagle Point Income Company | $3,0303.03% | Oct 11, 2021 | $2,643 | −$387 | -0.39 pp |
| CCIFCarlyle Credit Income Fund | $1,0101.01% | Jul 27, 2023Cash at 0% until this date | $554 | −$456 | -0.46 pp |
| BDJBlackRock Enhanced Equity Dividend Trust | $3,0303.03% | Oct 11, 2021 | $4,594 | +$1,564 | +1.56 pp |
| UTGReaves Utility Income Fund | $8,0818.081% | Oct 11, 2021 | $12,878 | +$4,797 | +4.80 pp |
| UTFCohen & Steers Infrastructure | $7,0717.071% | Oct 11, 2021 | $9,545 | +$2,474 | +2.47 pp |
| NIEVirtus Equity & Convertible Income Fund | $3,0303.03% | Oct 11, 2021 | $4,847 | +$1,817 | +1.82 pp |
| ADXAdams Diversified Equity | $2,0202.02% | Oct 11, 2021 | $3,992 | +$1,972 | +1.97 pp |
| BRWSaba Capital Income & Opportunities Fund | $4,0404.04% | Oct 11, 2021 | $5,123 | +$1,083 | +1.08 pp |
| BGHBarings Global Short Duration High Yield Fund | $6,0616.061% | Oct 11, 2021 | $7,623 | +$1,562 | +1.56 pp |
| PAXSPIMCO Access Income Fund | $5,0505.05% | Jan 27, 2022Cash at 0% until this date | $5,793 | +$743 | +0.74 pp |
| GHYPGIM Global High Yield Fund | $6,0616.061% | Oct 11, 2021 | $7,148 | +$1,087 | +1.09 pp |
| PFNPIMCO Income Strategy Fund II | $7,0717.071% | Oct 11, 2021 | $7,770 | +$699 | +0.70 pp |
| KIOKKR Income Opportunities Fund | $5,0505.05% | Oct 11, 2021 | $5,470 | +$420 | +0.42 pp |
| PDXPIMCO Dynamic Income Strategy Fund | $2,0202.02% | Oct 11, 2021 | $5,182 | +$3,162 | +3.16 pp |
| RLTYCohen & Steers Real Estate Opportunities & Income Fund | $3,0303.03% | Feb 24, 2022Cash at 0% until this date | $3,138 | +$108 | +0.11 pp |
| FSCOFS Credit Opportunities Corp. | $5,0515.051% | Nov 14, 2022Cash at 0% until this date | $9,153 | +$4,102 | +4.10 pp |
| ARDCAres Dynamic Credit Allocation Fund | $8,0818.081% | Oct 11, 2021 | $9,255 | +$1,174 | +1.17 pp |
| Portfolio total | $100,000 | Oct 11, 2021 | $134,853 | +$34,853 | +34.85% |
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
All holdings checked Oct 10, 2026.
Income Factory Core Model — $100K Plan
20 investments from the Core Model, with larger anchors and smaller specialist positions.
A $100,000 model selected from the September 1, 2026 Core Model spreadsheet’s 40 candidates. We assign unequal weights between 1% and 10%. The source supplies the holdings and dated income data; selection and sizing are Income Lens judgments because it contains no position weights.
Source as of Sep 1, 2026 · Plan prepared Sep 25, 2026Independent position priorities · 1–10% limits
A smaller selection from the source
20 of the 40 source positions are included. Source asset-class labels and dated metrics remain intact.
Varied position sizes
Income Lens assigns larger priorities to the diversified equity, credit and infrastructure anchors, medium priorities to complementary strategies, and smaller priorities to specialist exposures. These judgments determine both the 20 selections and their relative sizes; the source spreadsheets do not supply these weights or a fund-quality score. Scale the relative priorities proportionally, holding each position between 1% and 10%. Redistribute the remaining budget among positions inside those limits. Round to whole dollars using largest fractional remainders, with ticker order breaking ties.
A fully assigned $100,000
Each investment receives between $1,000 and $10,000. These target weights adapt the source to your limits; they do not reproduce the creator’s full account.
Allocation by source asset class
- HY Bond$29,29329.293%
- Eq Util & Infra$15,15215.152%
- Senior Loan$13,13213.132%
- BDC$12,12212.122%
- CEF Fund$9,0919.091%
- HY Bond - Special$4,0404.04%
- CLO Blend$3,0303.03%
- Eq Covered Call$3,0303.03%
- Equity-Hybrid$3,0303.03%
- Real Estate$3,0303.03%
- Equity$2,0202.02%
- Hybrid/Bond$2,0202.02%
- CLO Equity$1,0101.01%
Position size does not measure risk. Funds can share managers and underlying exposures.
Income at the spreadsheet’s rates
Each target allocation is multiplied by the sheet’s individual distribution yield on market price. The main source rates are dated Sep 1, 2026. This is an illustration, not a forecast or guaranteed income. The monthly figure is the annual total divided by 12, not a payment schedule. Distributions may change or include return of capital.
20 holdings & allocations
Independent position priorities · 1–10% limits. Amounts are dollar targets before fees, taxes and share rounding.
20 of 20 holdings · Every amount is a proposed allocation in USD.
| Investment | Weight | Amount to invest | Why this allocation |
|---|---|---|---|
| 9.091% | $9,0917.8% source yield $709/year at source rate | Included in the Core Model at row 8. Income Lens assigns relative priority 9 for this holding’s portfolio role, then applies the 1–10% limits. Larger priorities receive larger allocations; these are model judgments, not publisher ratings. What to watchUnderlying fund overlap, layered expenses, leverage and changing discounts to NAV. Research source | |
| 8.081% | $8,08110.9% source yield $881/year at source rate | Included in the Core Model at row 39. Income Lens assigns relative priority 8 for this holding’s portfolio role, then applies the 1–10% limits. Larger priorities receive larger allocations; these are model judgments, not publisher ratings. What to watchBorrower defaults and leverage. Falling base rates can reduce floating-rate income. Research source | |
| 8.081% | $8,0816.7% source yield $541/year at source rate | Included in the Core Model at row 21. Income Lens assigns relative priority 8 for this holding’s portfolio role, then applies the 1–10% limits. Larger priorities receive larger allocations; these are model judgments, not publisher ratings. What to watchSector concentration, interest rates, leverage and distribution coverage. Research source | |
| 7.071% | $7,07110.8% source yield $764/year at source rate | Included in the Core Model at row 7. Income Lens assigns relative priority 7 for this holding’s portfolio role, then applies the 1–10% limits. Larger priorities receive larger allocations; these are model judgments, not publisher ratings. What to watchPrivate-company defaults, non-accruals, leverage and changes to regular or supplemental dividends. Research source | |
| 7.071% | $7,07112.5% source yield $884/year at source rate | Included in the Core Model at row 32. Income Lens assigns relative priority 7 for this holding’s portfolio role, then applies the 1–10% limits. Larger priorities receive larger allocations; these are model judgments, not publisher ratings. What to watchBorrower defaults, credit spreads, interest rates, leverage and distribution coverage. Research source | |
| 7.071% | $7,0717.3% source yield $516/year at source rate | Included in the Core Model at row 22. Income Lens assigns relative priority 7 for this holding’s portfolio role, then applies the 1–10% limits. Larger priorities receive larger allocations; these are model judgments, not publisher ratings. What to watchSector concentration, interest rates, leverage and distribution coverage. Research source | |
| 6.061% | $6,06110.4% source yield $630/year at source rate | Included in the Core Model at row 29. Income Lens assigns relative priority 6 for this holding’s portfolio role, then applies the 1–10% limits. Larger priorities receive larger allocations; these are model judgments, not publisher ratings. What to watchBorrower defaults, credit spreads, interest rates, leverage and distribution coverage. Research source | |
| 6.061% | $6,06110.9% source yield $661/year at source rate | Included in the Core Model at row 31. Income Lens assigns relative priority 6 for this holding’s portfolio role, then applies the 1–10% limits. Larger priorities receive larger allocations; these are model judgments, not publisher ratings. What to watchBorrower defaults, credit spreads, interest rates, leverage and distribution coverage. Research source | |
| 5.051% | $5,05111.2% source yield $566/year at source rate | Included in the Core Model at row 5. Income Lens assigns relative priority 5 for this holding’s portfolio role, then applies the 1–10% limits. Larger priorities receive larger allocations; these are model judgments, not publisher ratings. What to watchPrivate-company defaults, non-accruals, leverage and changes to regular or supplemental dividends. Research source | |
| 5.051% | $5,05113.7% source yield $692/year at source rate | Included in the Core Model at row 38. Income Lens assigns relative priority 5 for this holding’s portfolio role, then applies the 1–10% limits. Larger priorities receive larger allocations; these are model judgments, not publisher ratings. What to watchBorrower defaults and leverage. Falling base rates can reduce floating-rate income. Research source | |
| 5.05% | $5,05013.3% source yield $672/year at source rate | Included in the Core Model at row 34. Income Lens assigns relative priority 5 for this holding’s portfolio role, then applies the 1–10% limits. Larger priorities receive larger allocations; these are model judgments, not publisher ratings. What to watchBorrower defaults, credit spreads, interest rates, leverage and distribution coverage. Research source | |
| 5.05% | $5,05012.8% source yield $646/year at source rate | Included in the Core Model at row 30. Income Lens assigns relative priority 5 for this holding’s portfolio role, then applies the 1–10% limits. Larger priorities receive larger allocations; these are model judgments, not publisher ratings. What to watchBorrower defaults, credit spreads, interest rates, leverage and distribution coverage. Research source | |
| 4.04% | $4,04010.7% source yield $432/year at source rate | Included in the Core Model at row 28. Income Lens assigns relative priority 4 for this holding’s portfolio role, then applies the 1–10% limits. Larger priorities receive larger allocations; these are model judgments, not publisher ratings. What to watchBelow-investment-grade credit, special-situation positions, leverage and distribution coverage. Research source | |
| 3.03% | $3,0307.5% source yield $227/year at source rate | Included in the Core Model at row 13. Income Lens assigns relative priority 3 for this holding’s portfolio role, then applies the 1–10% limits. Larger priorities receive larger allocations; these are model judgments, not publisher ratings. What to watchEquity drawdowns, upside limited by written calls and variable distributions. Research source | |
| 3.03% | $3,03013.2% source yield $400/year at source rate | Included in the Core Model at row 9. Income Lens assigns relative priority 3 for this holding’s portfolio role, then applies the 1–10% limits. Larger priorities receive larger allocations; these are model judgments, not publisher ratings. What to watchStructured-credit losses, lower-rated CLO debt, equity exposure and leverage. Research source | |
| 3.03% | $3,0309.0% source yield $273/year at source rate | Included in the Core Model at row 24. Income Lens assigns relative priority 3 for this holding’s portfolio role, then applies the 1–10% limits. Larger priorities receive larger allocations; these are model judgments, not publisher ratings. The source explicitly says NIE replaced ASG on September 1, 2026. What to watchEquity and convertible-security losses, leverage and changing distributions. Research source | |
| 3.03% | $3,0308.6% source yield $261/year at source rate | Included in the Core Model at row 36. Income Lens assigns relative priority 3 for this holding’s portfolio role, then applies the 1–10% limits. Larger priorities receive larger allocations; these are model judgments, not publisher ratings. What to watchProperty-market weakness, interest rates, leverage and real-estate credit or equity losses. Research source | |
| 2.02% | $2,0207.7% source yield $156/year at source rate | Included in the Core Model at row 26. Income Lens assigns relative priority 2 for this holding’s portfolio role, then applies the 1–10% limits. Larger priorities receive larger allocations; these are model judgments, not publisher ratings. What to watchEquity-market losses, portfolio concentration and distributions that may include capital gains or return of capital. Research source | |
| 2.02% | $2,0207.3% source yield $147/year at source rate | Included in the Core Model at row 35. Income Lens assigns relative priority 2 for this holding’s portfolio role, then applies the 1–10% limits. Larger priorities receive larger allocations; these are model judgments, not publisher ratings. What to watchMixed credit and equity exposures, leverage, strategy changes and distribution coverage. Research source | |
| 1.01% | $1,01026.9% source yield $272/year at source rate | Included in the Core Model at row 11. Income Lens assigns relative priority 1 for this holding’s portfolio role, then applies the 1–10% limits. Larger priorities receive larger allocations; these are model judgments, not publisher ratings. What to watchCLO equity absorbs losses before debt holders. Distributions and capital values can fall sharply. Research source | |
| Total allocation | 100% | $100,000 | 20 holdings · Fully allocated |
Sources & assumptions
Saved snapshot. This page uses the source captured September 22, 2026. It does not track future spreadsheet edits automatically. The eight sheets have different effective dates and should not be read as a synchronized set of accounts.
Historical comparison. The comparison above applies these target holdings to historical market prices with distributions reinvested. The live sheets may include earlier holdings in their reported returns. This comparison does not reconstruct Steve’s transactions or those replacement chains.
Core source. The ASG/NIE row maps to NIE, following the September 1 replacement note. Asterisks on PBDC, PAXS, RLTY and FSCO mark three-year returns in the five-year source columns; those returns do not set these weights.
Separate budgets. Each active plan uses its own $100,000 budget. These are alternative allocations with overlapping holdings. No trades have been placed.
The archived original $1M plan
The original $1M selections, weights, rationale and concentration limits remain unchanged for historical comparison.
View original AI recommendation