Flagship Portfolio
Real estate has always been one of the best ways to make a fortune in the United States and, indeed, in most of the world.
Almost 20% of the billionaires on the Forbes 400 became part of the super-rich because of real estate.
Real estate is a cornerstone of wealth for the rest of the super-wealthy too, with almost all of them having significant real estate holdings in their portfolios.
In this alternative fixed income portfolio, we are looking for bonds and preferred shares issued by REITs and with solid fundamentals that are deeply undervalued.
The income portfolio holds 23 positions across eight distinct asset categories, producing a blended current yield of approximately 10.28%.
The positions range from senior secured baby bonds trading near par, to deeply discounted closed-end funds, to royalty-based oil and gas partnerships, to Agency mortgage REITs and leveraged preferred stock vehicles.
What they share is a commitment to generating durable cash distributions in the current rate environment, and in most cases, an embedded valuation argument that goes beyond the income yield alone.
The summary table below lists all holdings, their tickers, categories, current prices, and current yields. Individual position reviews follow immediately after. So let’s take a look at the current alternative fixed income model portfolio, updated as of 7/21/2026:
This is the part that matters.
No publisher. No overhead. Four strategies built to beat the market.
Get Full AccessPremium members get:
- Small-Cap Momentum Portfolio — beats the market 16 of the last 20 years
- Equity REITs Portfolio — beat the S&P 500 by 10%+ annually since 1972
- Small-Cap Deep Value Portfolio — Walter Schloss used this method to compound at 20% annually for 47 years
- Alternative Fixed Income Portfolio — 10%+ yields, low drama
- Weekly macro video — credit spreads, NFCI, and hard data. No noise, no politics.
- Quarterly biotech watchlist — smart money tracking, insider buying, a decade of backtested data. A hitlist, not a portfolio.