Wealth is built by owning the leaders.

The stocks that build wealth are the ones that keep outperforming: the leaders of their industries. Finding them means comparing across industries and sectors, not one stock against its own past, and thinking beyond stocks alone.

What you getA free fifteen-minute conversation about owning market leaders, across industries, sectors and asset classes.Nothing changes in your portfolio unless you decide.

Glenn Caldicott, CIO, Empirical Asset ManagementOur Boston-based partner firm, an investment adviser registered with the U.S. Securities and Exchange Commission.

Aksala Wealth AdvisorsTrefis refers interested investors to Aksala Wealth Advisors.

Three ideas behind how we look for leaders

Own the outperformersWealth is built by owning the companies that keep outperforming. For every stock we cover, our company pages show how many of its industry peers it has beaten over one, three and five years.

Compare across industries and sectorsA stock can lead a weak industry and still trail the market, or ride a strong one. Setting industries and sectors side by side shows where the returns really came from.

Think across assetsStocks are one part of a portfolio. For 30+ years, the founders of our partner Empirical Asset Management have blended gold with US and international equities to build resilient portfolios.

A live example: Microsoft against its industry

Share of Systems Software constituents that MSFT has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.

65%

of 85 industry peers · 3.9% return

65%

of 72 industry peers · 63.4% return

85%

of 68 industry peers · 79.4% return

Systems Software peers with revenue growth within 4pp of MSFT's that beat it on at least 2 of 3 windows, and by at least 20pp over 5Y. Growth is matched by construction, so the gap is largely a re-rating gap. The multiple column is the context for it.

Ticker	Name	Rev Growth 3Y Avg	P/E	1Y	3Y	5Y	5Y Gap
MSFT	Microsoft	16.1%	29.4x	3.9%	63.4%	79.4%	—
FTNT	Fortinet	14.7%	58.5x	102.7%	192.8%	158.8%	+79pp

Price returns, excluding dividends. P/E shown for context only and not used for matching.

From the Peer Outperformance section of Microsoft’s company page. Price returns, excluding dividends.

The Trefis High Quality (HQ) Portfolio

>105%cumulative since inceptionSince its launch in September 2020, HQ has outperformed its benchmark: 30% S&P 500, 40% S&P MidCap and 30% Russell 2000.

30quality companies, equal weightSustainable revenue growth, strong margins and cash flow, with no pick under $2 billion in market value.

MIT · Cornellengineers founded TrefisThe same research engine behind our published analysis powers the portfolios.

Verify us before you share anything

Aksala Wealth Advisors: any investment adviser’s registration and Form ADV can be looked up on the SEC’s adviser search site, adviserinfo.sec.gov.
Empirical Asset Management: SEC registration and Form ADV on the SEC’s adviser search site, adviserinfo.sec.gov.
Glenn Caldicott: individual record on the same site.

Questions

What does the conversation cost?

Nothing. It is free whether or not you ever work with EmpiricalAksala Wealth Advisors.

Do I have to move my account?

No. Nothing changes unless you decide to make a change.

Disclaimer

Trefis is a research provider only and does not, nor is it licensed to, provide investment advisory services. Trefis is not subject to any state or federal investment regulations and provides information for educational purposes only. Any implementation of Trefis strategies will be done by unaffiliated third party investment advisory firms with proper registration and pursuant to a separate agreement. Trefis does not receive compensation related to introductions made to third party investment advisory firms. Implementations of Trefis strategies executed by third party investment advisory firms may vary from information contained on this website. No investment strategy or risk management technique can guarantee returns or eliminate risk in any market environment.

Trefis refers interested investors to Aksala Wealth Advisors to discuss investing in Trefis strategies.

NOTE: Trefis refers interested investors to Aksala Wealth Advisors. Trefis is a research provider and does not provide investment advisory services. Any investment advisory services will be provided by Aksala pursuant to a separate agreement.