The Score Board of Gurus

A Better Way to Measure Performances
We believe that the performance over fixed time periods, like the latest 3-year, 5-year and 10-year, might be misleading since a single bad year performance would ruin all. Therefore, we believe the best way to measure funds’ performance is to check the performance number over complete market cycles. According to the annual returns of S&P 500 from 1999 to 2012, we think market peaks appeared at 1999, 2007 and 2012, while market troughs appear at 2002 and 2008. Based on this, we research all the funds’ performance from peak to peak (1999 to 2007, 2007 to 2012, and 1999 to 2012) years and trough to trough years (2002 to 2008). The results are as follows (we ignore the funds which lack at least two years of data in a complete economic cycle). Please note that i=Investment company; m=Mutual Fund company; h=Hedge Fund company; F=Mutual Fund.
Peak to Peak_1999-2007 Annual Return
Peak to Peak_2007-2012 Annual Return
Peak to Peak_1999-2012 Annual Return
Trough to Trough_2002-2008 Annual Return
Percentage of Years When Guru Outperformed the Market (Five-Year Rolling Basis)
Scoreboard Top 10 Guru Holdings Performances (%) Fund Performances (%) since Latest 13F-filing
Q/Q Turnover (%)
Portfolio
Guru Name
Type
Since latest 13F-filing
Since 6m ago
Since 12m ago
1y
5y
10y
Since Inception
Period Tracked
Fund Tracked
Value ($Mil)
# stocks
Hedge Fund
-
-
-
-1.60
2.30
7.10
13.60
2008-2017
Pershing Square, L.P.
29
5,957
9
Hedge Fund
-
-
-
-
26.60
-
16.10
-
Icahn Capital
8
20,426
18
Investment Company
-
-
-
23
13.10
10.50
18.50
1980-2017
Berkshire Hathaway Book Value
3
183,066
48
Hedge Fund
-
-
-
1.50
2.50
4.10
6.30
2004-2017
Greenlight Re
11
1,382
20
Hedge Fund
-
-
-
-
-
-
-
-
4
2,620
10
Hedge Fund
-
-
-
-
-
-
-
-
24
14,771
25
Mutual Fund
-
-
-
-
2
11.20
12.70
1989-2011
Akre Capital Private Asset Man
1
7,901
25
Investment Company
-
-
-
0.70
0.50
1.30
15.70
1980-2017
Leucadia Corp. Book Value
47
852
46
-
-
-
-
12.20
11.60
8.40
12.20
1995-2017
Small-Cap Composite - Daruma
15
751
50
Hedge Fund
-
-
-
-
-
-
22.19
-
28
446
7
Mutual Fund
-
-
-
18.30
16.30
7.70
13.30
1980-2017
Dodge & Cox Stock FUND
10
109,147
181
Mutual Fund
-
-
-
16.50
14.20
6.90
7.90
1997-2017
Nuveen Multi-Manager Large-Cap
11
4,227
148
Mutual Fund
-
-
-
-2.60
1.70
10.20
12.80
1980-2018
Sequoia Fund
7
9,083
57
Mutual Fund
-
-
-
14.20
8.10
2.90
5.90
1991-2017
Third Avenue Value Fund
9
1,237
61
Mutual Fund
-
-
-
19.50
15.10
9.40
7.50
1997-2017
Vanguard Selected Value Fund
5
50,781
347
Mutual Fund
-
-
-
-8.50
3.20
8.80
12.60
1980-2018
First Eagle Global Fund
7
34,590
168
Hedge Fund
-
-
-
-
-
-
-
-
6
395
29
Mutual Fund
-
-
-
-18
-0.50
10.20
10.30
1988-2018
Longleaf Partners Fund
16
7,007
33
Mutual Fund
-
-
-
-
-
-
-
-
4
2,719
61
Hedge Fund
-
-
-
15.50
12.50
5.40
14.30
1987-2017
PCM Value Fund
12
598
54
Hedge Fund
-
-
-
-
-
-
-
-
http://www.georgesoros.com/
21
2,779
141
Mutual Fund
-
-
-
15
15.30
5.20
8
1993-2017
U. S. Value Equity
12
3,925
144
Hedge Fund
-
-
-
-
-
-
-
-
10
17,109
183
Mutual Fund
-
-
-
11.50
8.70
6.60
11.70
1984-2017
Weitz Partners Fund
11
2,147
79
Mutual Fund
-
-
-
16.50
9.10
6.40
5.50
1994-2017
Tweedy Browne Value Fund
1
2,824
47
Mutual Fund
-
-
-
18.20
12
10.80
10.50
1993-2017
The Yacktman Fund
4
7,844
43
Investment Company
-
-
-
24.70
6.10
9.40
20.80
1986-2017
Fairfax Per Share Book Value
2
1,270
33
Hedge Fund
-
-
-
-
13.10
12.80
-
1992-2001
Baupost Fund
14
11,128
35
Investment Company
-
-
-
-
-
-
-
-
27
681
8
Mutual Fund
-
-
-
15.90
15.60
8.90
11.50
1987-2017
Ariel Fund
7
7,176
157
Mutual Fund
-
-
-
-6
6.60
4.50
9.90
2000-2017
Fairholme Fund
-
367
3
Hedge Fund
-
-
-
-
4.10
7.90
11.70
1994-2011
Advantage Fund
11
4,174
51
Mutual Fund
-
-
-
19.30
15.70
7
11.50
1992-2017
Davis Financial Fund
5
17,897
137
Mutual Fund
-
-
-
-2
7.50
14.70
12.20
1992-2018
Baron Partners Fund
4
19,758
369
Mutual Fund
-
-
-
18.90
15.80
7.30
10.20
1988-2017
Large Cap Value Fund
12
22,675
475
Hedge Fund
-
-
-
-
-
-
-
-
1
555
31
Investment Company
-
-
-
-
-
-
-
-
-
21,926
19
Mutual Fund
-
-
-
12.30
10
6.10
12.40
1999-2017
Schneider Small Cap Value Fund
28
363
44
Hedge Fund
-
-
-
-
17.20
20.10
26.70
1993-2014
Appaloosa Investment LP I
12
1,992
22
Hedge Fund
-
-
-
-
-
-
-
-
11
1,966
22
Total 69