Narstar
Speculative Portfolio
Concentrated positions in smaller companies. Higher risk.
The Speculative Portfolio seeks higher returns by taking concentrated positions in a small number of smaller, more volatile companies. Seeking them is not the same as getting them. It can lose 30%, 40%, or more. That's a realistic outcome for this kind of portfolio, not some edge case we're disclosing to check a box. Only consider it if you have money set aside that you genuinely could lose entirely and walk away from. The annual fee is 1.60%.
Portfolio at a glance
Seeks higher returns from smaller companies, in fewer positions. Each holding carries more weight, and more risk.
- Not suitable for most investors
- Fewer holdings than a typical portfolio; each position matters more
- Can lose 30%, 40%, or more. That's a realistic outcome for this type of portfolio.
- Only invest money you can afford to lose entirely
A new client may open one $100 Starter Account and must reach $3,000 by the last day of the sixth calendar month. SIMPLE IRA participant accounts have no minimum and are not eligible for the Starter Account. Liquidation is a taxable event. Details.
Who this is for
Most investors shouldn't be in this portfolio. Read each card carefully before deciding.
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You understand what you're getting into
This portfolio can drop 40% or more. Not as a tail-risk scenario, but as a normal outcome of owning small, early-stage companies in volatile sectors. If you've read this, sat with it, and you're still here, that's the right starting point.
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This isn't your core portfolio
You've set this money aside separately, away from retirement savings or anything you'd need in a rough patch. Losing all of it wouldn't just sting. You could actually absorb it without derailing anything else.
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You want exposure to early-stage themes
Small companies in unproven areas. Serious setbacks are common. Some fail entirely. You know that and you're in anyway.
What to expect
Read this in full. If any of it gives you pause, this portfolio isn't the right fit.
- Sharp declines Drops of 30%, 40%, or more are a realistic outcome here, and you should assume that will happen at some point.
- Company failure Individual positions can go to zero. Small companies fail.
- Liquidity risk Smaller stocks are often harder to exit quickly, and the spread between what buyers and sellers will accept can be wide enough to cost you real money when you're trying to get out.
- Thematic concentration When a sector or theme falls out of favor, several holdings can get hit at the same time. Concentration cuts both ways.
- Loss of principal This portfolio is suitable only for investors who can absorb large losses. No model portfolio is guaranteed to achieve its objective.
What you pay
Use the calculator below to see your annual advisory fee at any account value. Narstar charges no trading commissions, referral fees, or product sales.
Calculated on your average daily net liquidation value and billed quarterly in arrears. Interactive Brokers may charge separate fees.
Have an IRA?
Traditional, Roth, Rollover, SEP, and SIMPLE IRAs are billed at the uniform 1.00% rate, rather than the portfolio rates, no matter which portfolios the account holds. A single IRA can hold more than one model portfolio at that same rate.
Have less than $3,000?
A new client may open one $100 Starter Account in a single model portfolio. It must reach $3,000 by the last day of the sixth calendar month after opening. SIMPLE IRA participant accounts have a $0 minimum and are not eligible for the Starter Account. See full details.
How to start
Here's how it works, in three steps.
Tell us about your situation
We ask more questions here than we do for the other portfolios. We want to understand what this money is, where it sits in your overall finances, and whether this portfolio is actually appropriate for you before we say it is.
We match you to a portfolio
If it's a fit, great. If it's not, we'll say so plainly and point you somewhere better.
We manage it from there
Trading, monitoring, and day-to-day decisions are handled on our end. You get updates and can reach out any time. Leave on written notice with no penalty.
Questions
Things people ask about the Speculative portfolio.
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Individual positions can go to zero. The portfolio as a whole can decline sharply. This is real capital at risk, not play money. Losing a large portion of what you put in is a realistic outcome, not a remote one.
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Smaller companies, earlier-stage themes, more concentrated. Growth holds established companies with competitive advantages. The Speculative Portfolio holds companies that are small, early, and volatile. The Growth portfolio is for patient investors with a long horizon. This one's for a different situation entirely: money you can afford to lose, held separately from your core savings.
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An IRA is an account type, not a suitability decision. Although an IRA can hold this model and is billed at the uniform IRA rate, the Speculative Portfolio is not designed for money your retirement depends on. It is considered only for capital you can afford to lose after we review your goals, time horizon, and ability to bear loss.
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It varies. We're not day-trading, but we're more active here than in the other portfolios. We review each Model Portfolio at least quarterly, and positions may be reviewed or traded sooner when company developments or the original investment thesis call for it. Turnover is generally higher than in Growth.
Interested in the Speculative Portfolio?
Ask about the risk, the fee, or whether this portfolio makes sense for you.
- [email protected]
- (801) 251‑6844
- Sandy, Utah