Worth Funding Fund – Finish of Yr Report 12/31/2022 / Enterprise Administration

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The Worth Funding Fund dropped in worth 11.35% from the beginning of the calendar yr. Even with this drop in worth, the Fund carried out dramatically higher than all different indices:

  • The NASDAQ 100 misplaced 32.97%;
  • The S&P 500 misplaced 19.44%;
  • NASDAQ misplaced 33.1%.Value Investment Fund

Within the three and one-quarter years since inception, the Worth Funding Fund’s annual common return is extra than simply forward, it’s 57% superior to the NASDAQ 100. The rules of worth investing generate excellent returns with minimal danger. 

Worth Funding Fund – Standing on December 31, 2022

                                                                                                                   December 31, 2022       November 30, 2022          December 31, 2022
.                                                                        # of Shares     Value Foundation   Internet Market Worth*   Internet Honest Market Worth*   Internet Honest Market Worth*
REITs 

.   – Essex Property Belief, Inc. (Tranche #1)              71.6846           $20,000            $210.92                        $15,726.16                     $15,119.72
.   – Essex Property Belief, Inc. (Tranche #2)              77.7000             20,000              210.92                          17,045.83                       16,388.48
.   – Essex Property Belief, Inc. (Tranche #3)            100.0000             22,221             210.92                          21,938.00                        21,092.00
.   – Essex Property Belief, Inc. (Tranche #4)            180.0000             44,980             210.92                           39,488.40                       37,965.60
.       Sub-Totals                                                  429.3846            107,201                                                $94,198.39                     $90,565.80
Leisure
.    – The Walt Disney Firm (Tranche #1)         180.1801             20,000             $85.88                         $17,454.04                    $15,473.87
.    – The Walt Disney Firm (Tranche #2)         200.0000             21,200               85.88                           19,374.00                      17,176.00
.    – The Walt Disney Firm (Tranche #3)         198.0198             20,000               85.88                           19,182.18                      17,005.94
.       Sub-Totals                                                  578.1999              61,200                                                $56,010.22                     $49,655.81
Banking 
.    – Wells Fargo                                                             100.00                      4,267.50              40.29                          $4,695.00                       $4,029.00
Dividend Receivables (Wells Fargo)                                                                                                                30.00                              -0-
Money on Hand (Foundation, Beneficial properties, Dividends, PUTS)                                                                                         1,615.11                            161.02
Totals (Beginning Value Foundation = $100,000)                                  $172,668.50                                         $156,548.73                    $144,411.63
Accrual adjustment for taxes                                                                                                                         4,974.17                          7,957.01
Totals Internet of Taxes (Recapture)                                                                                                           $161,522.89                    $152,368.64
This portfolio’s worth is AFTER TAXES of 28% on all realized good points. Complete taxes paid to this point             25,924.50                         28,323.59
Comparative Gross Return Since Inception                                                                                             $187,447.39                   $180,692.23                   
Unrealized Earnings (Worth of Respective Market Costs Much less Value Foundation/Charges at Level of Sale)  $(17,764.88)                   $(28,417.89)
*Internet of transaction charges of $1.00 per share; thus the quantity within the schedule equals the precise market worth per share at closing much less $1.00 per share.

Worth Funding Fund – Potential Obligations

The Worth Funding Fund’s present publicity associated to PUT choices is as follows:

  • Union Pacific Railroadoffered in Feb 2020 with a strike worth of $155/share and an expiration date of January 21, 2023                                $20,000
  • JP Morgan Chase offered in Could 2022 with a strike worth of $80/share and an expiration date of June 16, 2023                                                $20,000
  • Norfolk Southern Companyoffered in September (200 Shares) with a strike worth of $145 and an expiration date of January 21, 2024   $29,000
  • Essex Property Belief – soutdated 12/30/22 (100 Shares) with a strike worth of $170 and an expiration date of July 21, 2023                                  $17,100
  • Union Pacificoffered 12/30/22 (200 Shares) with a strike worth of $145 and an expiration date of August 18, 2023                                             $29,200
  • L3 Harris Applied sciencesoffered 12/30/22 (100 Shares) with a strike worth of $150 and an expiration date of October 20, 2023                        $15,100
  • Marriott Motelsoffered 12/30/22 (100 Shares) with a strike worth of $90 and an expiration date of January 19, 2024                                           $9,100
    *Complete monetary dedication = $139,500

Market costs on December 31, 2022 are:

  • Union Pacific Railroad (Expiration on 01/21/2023)                          $207.07  (Strike Worth of $155.00) Present Deviation = 33.59% 
  • JP Morgan Chase (Expiration on 06/16/2023)                                   $134.10  (Strike Worth of $80.00)  Present Deviation =  67.62%
  • Essex Property Belief (Expiration 07/21/23)                                       $211.92 (Strike Worth of $170.00) Present Deviation =  24.66% 
  • Union Pacific (Expiration 08/18/23)                                                    $207.07 (Strike Worth of $145.00) Present Deviation =  39.35%
  • L3 Harris Applied sciences (Expiration 10/20/23)                                   $208.21 (Strike Worth of $150.00) Present Deviation =  38.80%
  • Marriott Motels (Expiration 01/19/2024)                                            $148.89 (Strike Worth of $90.00)   Present Deviation =  65.43%
  • Norfolk Southern Corp (Expiration on 01/21/24)                              $246.42 (Strike Worth of $145.00) Present Deviation =  69.94%
    *Deviations > 25% are thought-about favorable.

Worth Funding Fund – Earnings Yr-To-Date

First Quarter Earnings:
.    Offered Huntington Ingalls 03/07/22  Internet Realized Acquire                                                                  $5,557.05
.    Dividends Earned (First Quarter 2022)                                                                                              271.34
.    Internet Earnings from Gross sales of PUT Contracts                                                                                        573.10
.    First Quarter Earnings                                                                                                                    $6,401.49

Second Quarter Earnings:
.   Internet Earnings from Gross sales of PUT Contracts                                                                                    $3,908.57
.   Dividends Earned                                                                                                                                607.46
.   Second Quarter Earnings                                                                                                                $4,516.03

Third Quarter Earnings:
.   Internet Earnings from Gross sales of PUT Contracts                                                                                    $1,040.00
.   Dividends Earned                                                                                                                                654.26
.   Third Quarter Earnings                                                                                                                   $1,694.26

Fourth Quarter Earnings:
.    Realized Beneficial properties from Sale of Wells Fargo                                                                                      $7,623.19
.    Sale of PUT Contracts (Essex Property Belief/Union Pacific/L3 Harris/Marriott)                               915.00
.    Dividends Earnings (Wells Fargo)                                                                                                         30.00 
.    Fourth Quarter Earnings                                                                                                                  $8,568.19 

Complete Realized Earnings Yr to Date 2022                                                                                   $21,179.97 (12.49% Realized Return to Date)

Taxes Paid to Date 2022 – $5,930.39 (28% of the $21,179.97 Realized Via December 31, 2022)

Finish of Yr Reconciliations/Abstract Reviews

                               Lifetime Earnings/Fund Steadiness at Market Valuation
Preliminary Fund Capitalization                                                                              $100,000
Realized Earnings (2019), 1st Qrt of Exercise                                                      2,703
Realized Earnings (2020)                                                                                   23,608
Realized Earnings (2021)                                                                                    53,661
Realized Earnings (2022)                                                                                    21,180
Sub-Complete Fund Worth Earlier than Taxes and Unrealized Beneficial properties/Losses                  201,152
Much less Taxes Paid Lifetime to Date                                                                      (28,324)
Much less Unrealized Beneficial properties/Losses at Yr-Finish (Tax Adjusted)                              (20,461)
Fund Steadiness if Cashed Out 12/31/22 (Internet of all charges/prices to terminate)    $152,360 *Matches Fund Steadiness Above w/Rounding Error of $2

               Lifetime Earnings/Fund Steadiness at Value
Complete Realized Earnings Lifetime to Date:             $101,152
Much less Taxes Paid Via 12/31/22 @28%                      28,324
Internet Capital Account Steadiness From Earnings          $72,828
Preliminary Contribution                                                  100,000
Worth Funding Fund at Value                              $172,828
Value Foundation in Investments                      $172,669                     *See Above Value Foundation Column Standing at 12/31/22
Money in Financial institution                                                   161
Worth Funding Fund at Value                              $172,830 *Spherical Error of $2

Worth Funding Fund Abstract Report – Earnings      2019              2020                2021              2022           Totals
Realized Earnings from Safety Beneficial properties                               $2,327             $22,277         $48,349          $13,181       $86,134
Realized Earnings from Dividends                                           376                    904             2,451              1,563           5,294
Realized Earnings from Sale of PUT’s                                    -0-                      427             2,861              6,437           9,725
Totals                                                                                    $2,703            $23,608         $53,661          $21,180      $101,153

Abstract of 2022

Calendar yr 2022 was profound with the quantity of general losses for all indices. No single index fund skilled an enchancment in worth throughout 2022. The Worth Funding Fund additionally skilled a lower in worth throughout the identical time interval. Nonetheless, its respective lower in Fund worth was considerably decrease than all different indices. This can be a direct reflection of the first precept of worth investing – solely buy prime quality securities. Total, the Fund earned a 12.57% return on its unique starting of the yr Fund steadiness of $168,430. It ended the yr holding three high quality investments – Essex Property Belief, The Walt Disney Firm and Wells Fargo. As soon as the market recovers, the present portfolio will dramatically outperform the opposite indices. Act on Data.

© 2023, David J Hoare MSA. All rights reserved.

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