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. $32,528 (32.53%) stays in cash at 0% until the newer funds have a market price: PAXS — $8,964 invested Jan 27, 2022; PBDC — $8,385 invested Sep 30, 2022; NCDL — $7,661 invested Jan 25, 2024; FSCO — $7,518 invested Nov 14, 2022. The result below includes this cash assumption.
See each holding’s contribution · 12 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 |
|---|---|---|---|---|---|
| JFRNuveen Floating Rate Income Fund | $9,1909.19% | Oct 11, 2021 | $11,718 | +$2,528 | +2.53 pp |
| BGHBarings Global Short Duration High Yield Fund | $9,0089.008% | Oct 11, 2021 | $11,330 | +$2,322 | +2.32 pp |
| PAXSPIMCO Access Income Fund | $8,9648.964% | Jan 27, 2022Cash at 0% until this date | $10,282 | +$1,318 | +1.32 pp |
| KIOKKR Income Opportunities Fund | $8,8418.841% | Oct 11, 2021 | $9,577 | +$736 | +0.74 pp |
| ARDCAres Dynamic Credit Allocation Fund | $8,4468.446% | Oct 11, 2021 | $9,673 | +$1,227 | +1.23 pp |
| PBDCPutnam BDC Income | $8,3858.385% | Sep 30, 2022Cash at 0% until this date | $12,840 | +$4,455 | +4.46 pp |
| BIZDVanEck BDC Income ETF | $8,3768.376% | Oct 11, 2021 | $10,207 | +$1,831 | +1.83 pp |
| PDXPIMCO Dynamic Income Strategy Fund | $8,0138.013% | Oct 11, 2021 | $20,557 | +$12,544 | +12.54 pp |
| GHYPGIM Global High Yield Fund | $7,9107.91% | Oct 11, 2021 | $9,329 | +$1,419 | +1.42 pp |
| BCSFBain Capital Specialty Finance | $7,6887.688% | Oct 11, 2021 | $9,742 | +$2,054 | +2.05 pp |
| NCDLNuveen Churchill Direct Lending Corp. | $7,6617.661% | Jan 25, 2024Cash at 0% until this date | $6,523 | −$1,138 | -1.14 pp |
| FSCOFS Credit Opportunities Corp. | $7,5187.518% | Nov 14, 2022Cash at 0% until this date | $13,623 | +$6,105 | +6.11 pp |
| Portfolio total | $100,000 | Oct 11, 2021 | $135,402 | +$35,402 | +35.40% |
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.
Live Simplified Credit Only — $100K Plan
12 investments with varied weights, fully allocating $100,000.
All 12 credit-only source positions, with relative account sizes adapted to the 1–10% limits.
Source as of Sep 17, 2026 · Plan prepared Sep 25, 2026Source position sizes · 20-holding maximum · 1–10% limits
A smaller selection from the source
12 of the 12 source positions are included. Source asset-class labels and dated metrics remain intact.
Varied position sizes
Retain up to the 20 largest source positions, breaking ties by ticker, and use their market values as relative allocation priorities. 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. The sheet’s printed total is $34,145, while its holding rows sum to $34,146. Original source fields remain available in the download.
Allocation by source asset class
- High Yield$34,72334.723%
- Senior Loan$25,15425.154%
- BDC ETF$16,76116.761%
- BDC$15,34915.349%
- Hybrid Income$8,0138.013%
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 17, 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.
Source consistency. Scaling the sheet’s separate annual-income amounts would give $11,445 per year. Those figures do not exactly reconcile with its yield column. This plan consistently uses the stated yield column; the download includes both source fields for review.
12 holdings & allocations
Source position sizes · 20-holding maximum · 1–10% limits. Amounts are dollar targets before fees, taxes and share rounding.
12 of 12 holdings · Every amount is a proposed allocation in USD.
| Investment | Weight | Amount to invest | Why this allocation |
|---|---|---|---|
| 9.19% | $9,19012.5% source yield $1,149/year at source rate | Source row 8. Source position value: $3,138. This sets its relative priority before the 1–10% limits. What to watchBorrower defaults and leverage. Falling base rates can reduce floating-rate income. Research source | |
| 9.008% | $9,00810.8% source yield $973/year at source rate | Source row 4. Source position value: $3,076. This sets its relative priority before the 1–10% limits. What to watchMarket losses, concentration, leverage where used, changing distributions and overlapping underlying investments. Research source | |
| 8.964% | $8,96413.3% source yield $1,192/year at source rate | Source row 11. Source position value: $3,061. This sets its relative priority before the 1–10% limits. What to watchMarket losses, concentration, leverage where used, changing distributions and overlapping underlying investments. Research source | |
| 8.841% | $8,84113.6% source yield $1,202/year at source rate | Source row 9. Source position value: $3,019. This sets its relative priority before the 1–10% limits. What to watchMarket losses, concentration, leverage where used, changing distributions and overlapping underlying investments. Research source | |
| 8.446% | $8,44611.2% source yield $946/year at source rate | Source row 2. Source position value: $2,884. This sets its relative priority before the 1–10% limits. What to watchBorrower defaults and leverage. Falling base rates can reduce floating-rate income. Research source | |
| 8.385% | $8,3859.9% source yield $830/year at source rate | Source row 12. Source position value: $2,863. This sets its relative priority before the 1–10% limits. What to watchMarket losses, concentration, leverage where used, changing distributions and overlapping underlying investments. Research source | |
| 8.376% | $8,3767.2% source yield $603/year at source rate | Source row 5. Source position value: $2,860. This sets its relative priority before the 1–10% limits. What to watchMarket losses, concentration, leverage where used, changing distributions and overlapping underlying investments. Research source | |
| 8.013% | $8,0137.7% source yield $617/year at source rate | Source row 13. Source position value: $2,736. This sets its relative priority before the 1–10% limits. What to watchMarket losses, concentration, leverage where used, changing distributions and overlapping underlying investments. Research source | |
| 7.91% | $7,91011.2% source yield $886/year at source rate | Source row 7. Source position value: $2,701. This sets its relative priority before the 1–10% limits. What to watchMarket losses, concentration, leverage where used, changing distributions and overlapping underlying investments. Research source | |
| 7.688% | $7,68814.9% source yield $1,146/year at source rate | Source row 3. Source position value: $2,625. This sets its relative priority before the 1–10% limits. What to watchPrivate-company defaults, non-accruals, leverage and changes to regular or supplemental dividends. Research source | |
| 7.661% | $7,66111.7% source yield $896/year at source rate | Source row 10. Source position value: $2,616. This sets its relative priority before the 1–10% limits. What to watchPrivate-company defaults, non-accruals, leverage and changes to regular or supplemental dividends. Research source | |
| 7.518% | $7,51813.5% source yield $1,015/year at source rate | Source row 6. Source position value: $2,567. This sets its relative priority before the 1–10% limits. What to watchBorrower defaults and leverage. Falling base rates can reduce floating-rate income. Research source | |
| Total allocation | 100% | $100,000 | 12 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.
Holding changes. The source records PDX replacing DHY and GHY replacing VVR. The old positions are not added as current holdings.
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