Leeb Capital Management (“LCM”) is an SEC-Registered Investment Advisory Firm. Before 2001, the firm conducted business as Money Growth Institute. Leeb Capital Management provides equity money management to retail and institutional investors. LCM’s Peak Resources and Energy (“Composite”) represents all fee-paying accounts with assets greater than $100,000 managed following our firm's Peak Resources and Energy Portfolio (P.R.E.P.). This strategy invests in securities with an emphasis on capital appreciation. The P.R.E.P. strategy offers clients a diversified portfolio of energy-related companies and hedges.
The portfolio will include investments in the following: oil, natural gas, coal, shale/tar sands, as well as alternative/renewable energies, i.e., wind, solar, and nuclear. Further, the portfolio aims to hedge against inflation and deflation by investing in precious metals, including gold, silver, and platinum.
The Composite was created on July 31, 2005, coinciding with this strategy's inception. From April 1, 1999, through September 30, 2007, LCM was verified by Ashland Partners and Company LLP. From October 1, 2007, through December 31, 2016, LCM was verified by ACA Performance Services, LLC. From 2017 through 2022, LCM was verified by The Spaulding Group. A copy of the verification report and additional information regarding the firm’s policies and procedures for valuing portfolios, calculating and reporting performance results, and preparing GIPS reports are all available upon request.
Before 2008, the Composite was called the Global Power and Energy Composite. The name change indicated the evolution of the strategy, as precious metals are now part of the investable universe, effective 4/01/08.
From inception through March 31, 2008, the composite returns are compared to the S&P 500 GICS Energy Sector, the volatility and holdings of which may be materially different from that of the composite. The S&P 500 GICS Energy Sector is widely used as the representative benchmark for energy strategies. The S&P 500 GICS Energy Sector is a subset of the S&P 500 and represents only those companies that meet S&P’s definition of energy companies. From April 1, 2008, through December 31, 2008, a static blended benchmark consisting of 80% of the aforementioned S&P 500 GICS Energy Sector, using 20% of the Philadelphia Stock Exchange Gold and Silver Index (XAU). The XAU is a capitalization-weighted index that includes leading companies involved in the mining of gold and silver. The blended benchmark is rebalanced monthly. For periods after January 1, 2009, the portfolio became more balanced between energy and materials (including precious metals). As such, the benchmark was changed to the S&P North American Natural Resources Sector Index, a market-weighted index that includes energy, materials, and precious metals. The changes in benchmark coincide with an evolution of the strategy to include precious metals.
Valuations are computed and performance is reported in U.S. dollars.
Composite returns are presented as gross and net. Gross returns are presented as gross fees (net of only transaction costs) and include reinvestment of dividends and income when applicable. Net return reduces the gross return by investment advisory fees. It was calculated using the highest management fee charged to clients per LCM’s Peak Energy and Resources strategy fee schedule: a 2% flat fee based on AUM.
The portfolio's quarterly and annual rates of return are computed by compounding the monthly rates of return over the applicable number of months.
LCM utilizes neither leverage nor derivative instruments as a material component of its investment strategies.
From composite inception through December 31, 2017, composite dispersion was calculated using the asset-weighted standard deviation of all portfolios included in the composite for the entire year. From January 1, 2018, through December 31, 2022, composite dispersion is calculated using the equally weighted standard deviation of all portfolios included in the composite for the entire year. The dispersion is calculated as the gross of fees. N/A – Information is not statistically significant due to insufficient portfolios in the composite for the entire year.
LCM defines a significant cash flow as an external flow of cash or securities (capital additions or withdrawals) that is client-initiated. An external flow of at least 10% of the portfolio market value is considered significant. This policy has been effective since the inception of the composite on July 31, 2005.
The 3-year annualized standard deviation measures the variability of the (gross) composite and the benchmark returns over the preceding 36-month period. N/A – Information that is not statistically significant due to an insufficient number of portfolios in the composite for the entire year.
Actual performance of client accounts may differ substantially.
Past performance is not indicative of future results.
The Benchmark Returns are not covered by the report of independent verifiers.
GIPS® is a registered trademark of the CFA Institute. CFA Institute does not endorse or promote this organization, nor does it warrant the accuracy or quality of the content contained herein.
The content presented in this document is meant for informational purposes only and should not be used as a recommendation to buy any individual securities. Standard & Poor’s and Orion Advisor provided index returns, shown in the performance comparisons. All of this information comes from sources believed by LCM to be reliable. LCM, however, cannot guarantee the accuracy of the comparative returns and, therefore, shall not be held liable for inaccurate information obtained from data providers.