SCRai Index
I run a concentrated portfolio.
8–15 positions. Long holding periods. Let winners run.
The problem?
I find far more asymmetric ideas than I can fit into my portfolio. Quality businesses with mispriced risk/reward. Companies that tick most of the boxes but haven’t quite earned a spot yet.
That is why I have created the SCRai.
How It Works
Fixed 40-stock basket: The index holds exactly 40 positions at all times.
Quarterly rebalancing; Every quarter I’ll review the full list - adding new ideas, removing companies where the thesis has broken or valuation has caught up. Always back to 40.
Bi-monthly updates: Twice a month I’ll post updates covering the best and worst performers, my current thinking on individual positions, what I’m considering adding, and what might get cut. You’ll see the thesis evolve in real time.
Full performance tracking: Every stock tracked from 1 January 2026. Clean baseline. No cherry-picking. No hiding mistakes.
Why the SCRai is useful
The SCRai is a high-quality idea funnel, not a model portfolio.
It acts as a curated watchlist of asymmetric businesses - a strong starting point for your own research - while letting you observe how theses, fundamentals, and valuations evolve over time before an idea earns a place in a concentrated portfolio.
The full index is live below.
Disclaimer: The content provided in this newsletter is for informational purposes only and does not constitute financial, investment, or other professional advice. The opinions expressed here are those of the author and do not necessarily reflect the views of Schwar Capital Research. Investing involves risk, including the possible loss of principal. Past performance is not indicative of future results. The author may or may not hold positions in the stocks or other financial instruments mentioned. Always do your own research or consult with a qualified financial advisor before making any investment decisions. To read our full disclaimer, click here.