Performance
Linde Equity Fund
The Linde Equity Fund is a moderate risk portfolio that prioritizes preservation of capital and a reasonable return.
The fund aims to achieve in excess of a 7% annualized return, after fees, over the long term.
Annualized Return as of March 31, 2025 (net of fees)
| 1 Year | 2 Years* | 3 Years* | 5 Years* | 8 Years* | Inception |
|---|---|---|---|---|---|
| + 7.9% | + 8.9% | + 3.2% | + 14.5% | + 9.5% | + 9.7% |
*Annualized return / Inception Oct 2016
Quarterly / Annual Performance (net of fees)
| Q1 | Q2 | Q3 | Q4 | YTD/Year | |
|---|---|---|---|---|---|
| 2025 | – 4.3% | – | – | – | – 4.3% |
| 2024 | +7.7% | – 4.0% | + 12.8% | + 4.1% | + 21.4% |
| 2023 | + 3.5% | – 0.3% | – 5.2% | + 7.9% | + 5.6% |
| 2022 | – 4.9% | – 14.5% | – 1.0% | + 5.7% | – 14.9% |
| 2021 | + 8.4% | + 9.0% | + 0.9% | + 5.2% | + 25.5% |
| 2020 | – 16.9% | + 22.8% | + 5.8% | + 15.9% | + 25.1% |
| 2019 | + 13.4% | + 2.7% | + 1.2% | + 4.2% | + 22.8% |
| 2018 | – 1.4% | + 5.0% | + 2.6% | – 11.1% | – 5.5% |
| 2017 | + 4.6% | + 2.5% | + 1.5% | + 4.7% | + 14.0% |
| 2016 | – | – | – | + 1.1% |
NAV for March 31, 2025: $21.24
Linde Equity Report
The Linde Equity Report, which pursued an aggressive investment approach and has been retired after 20 years of publication, has two sets of performance figures. One is internally generated by Linde Equity. The other is sourced from the Hulbert Financial Digest, North America’s authority on investment newsletter performance.
Our internal performance measurement of “annualized average price gain” is calculated by taking the “average share price gain” of all stock recommendations made since May 2000 and annualizing it over the “average holding period” of all positions.
Linde Equity Report: May 3, 2000 to May 3, 2020
Number of stock recommendations:
240
Annualized average price gain:
24.4%
Average share price gain:
24.2%
Average holding period:
11.9 months
All past picks are posted in each issue.
Performance rankings according to the Hulbert Financial Digest
The Hulbert Financial Digest takes a different approach to measuring our performance. It builds a portfolio based on our newsletter’s recommendations, and monitors the performance of the portfolio. The Hulbert Financial Digest also rebalances the portfolio of our stock picks to equal weighting every time we publish a new recommendations. This is necessary to make the nearly 200 stock newsletters it tracks comparable to each other over different time periods. However, this rebalancing ends up clipping our top performers as they rise, and increasing the weighting of positions that decline. This rebalancing has a smoothing effect on our returns, thus explaining the difference in performance calculations between our method and the Hulbert Financial Digest.