The Fund Grade · free · no account needed
What grade does IFPUX get?
Morningstar rates funds on what they returned. We grade them on where their money sits today: how much of the book overlaps with the converged buys of the top specialist stock pickers.
Fundprints Fund Grade · as of 2026-09-01
Independent Franchise Partners US Equity Fund
#40 of 440 graded active funds · blend · mid segment peer group
The point · specialist footprint
IFPUX sits mid pack for specialist backing among graded funds.
Bottom 20%
Bottom 40%
● Middle
Top 40%
Top 20%
The middle rungs sat between the extremes, and the pattern was monotonic: every step up in specialist backing came with better subsequent results. Not damning, not compelling. The fee decides whether it is worth it.
2,825 graded funds · 2.7 years of filings, measured as they were published · evidence, not advice
The grade scores this fund's specialist share — the slice that overlaps what the top 1% of proven funds are building. We ignore index ballast and names outside our edge on purpose: that slice is small, and it's what decides the outcome.
Conviction exposure
13.9%
of the book in specialist-converged names
Late-stage weight
9%
of the book in Crowded or Fading names
Active share
97.8%
how far it strays from the index
The best grades have beaten the worst by about +5% a year since we began grading. The gap held in 9 out of 10 months. Measured on filings as they were published, no hindsight.
Inside the book — top names by stage · as of 2026-09-09
We email you the day it crosses 50% crowded, and where you stand every month.
Graded monthly from point-in-time filings. A description of where the money sits, not a recommendation. Evidence, not advice.
The read · what to do with it
IFPUX earns an A grade and ranks 40th out of 440 graded funds, with specialists building early positions in LYV, NWSA, and ICE. The concern is roughly 17 percent of the portfolio sitting in fading or crowded names like AON and TRU, where proven specialists are already stepping back.
→ Watch AON and TKO closely; specialists are fading from both, and together they represent nearly 7 percent of the fund.
→ Note that LYV, NWSA, and ICE are early stage positions where the evidence suggests specialists are genuinely ahead of the crowd.
Support leaving these positions
Read from today's disclosed book. Evidence, not advice.
The evidence base updates this week.
The specialists — not the whales — are already positioned for what comes next. Stop finding out last.
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