The Fund Grade · free · no account needed

What grade does TOCQX 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.

C

Fundprints Fund Grade · as of 2026-10-01

Tocqueville

#188 of 500 graded active funds · blend · large segment peer group

The point · specialist footprint

TOCQX puts more of its book behind proven specialists than 72% of graded funds.

Bottom 20%

Bottom 40%

Middle

● Top 40%

Top 20%

beat the S&P in 22% of quarters+3.8%/qtr better · 43% beat rate

That has mattered: over the past 2.7 years, funds on this rung beat bottom-rung funds by about 3.8% per quarter, and beat the S&P in 43% of fund-quarters versus their 22%. The evidence argues this fund earns its seat.

10,000+ funds tracked · the graded specialists among them drive every read

3 funds in the same segment carry an A. Members see the names and what they charge. See the alternatives →

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.

TOCQX vs the Honor Roll · share card ↗

Conviction exposure

40.1%

of the book in specialist-converged names

Late-stage weight

17.7%

of the book in Crowded or Fading names

Active share

86.5%

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 2026-10-20

Early Conviction
RKLB 6.9%NVDA 5%MSFT 3.4%+8 locked
Consensus
MRVL 4.1%NEM 3.7%QCOM 2.2%+14 locked
Emerging
AMAT 4.9%TPL 1.7%MCD 1.2%
Crowded
GOOGL 6.4%FANG 1.7%FCX 1.2%+1 locked
Fading
VRT 4.1%CAT 3.7%NEE 2.9%+7 locked

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

Tocqueville earns a C grade, ranking 188 of 500, with specialists owning about 40% of the fund. The early story here is RKLB at nearly 7% and NVDA at 5%, both in Early Conviction stage, but that positive is weighed down by Fading positions in VRT, CAT, NEE, and WMT adding up to over 12% of the portfolio.

→ Watch the combined Fading weight in VRT, CAT, NEE, and WMT closely, as specialists are actively leaving those four positions.

→ Compare this fund against the three higher graded peers in the same segment, especially given the drag from 17.7% late stage weight.

Support leaving these positions

GOOGL 6.4% of the fund · Crowded

VRT 4.1% of the fund · Fading

CAT 3.7% of the fund · Fading

NEE 2.9% of the fund · Fading

WMT 2.2% of the fund · Fading

Where it's genuinely early

RKLB 6.9% of the fund · Early Conviction

NVDA 5% of the fund · Early Conviction

AMAT 4.9% of the fund · Emerging

Read from today's disclosed book. Evidence, not advice.

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