WVU SMIF Portfolio at All-Time High
First time ever with over $700,000 AUM
We are thrilled to share that the WVU Student Managed Investment Fund (SMIF) portfolio just closed above $700,000 for the first time ever – a major milestone in the fund’s history. As of midday on July 3, 2025, the total portfolio value stands at $717,207, representing a total unrealized profit on open positions of +$173,594. This achievement brings the student-run fund significantly closer to its long-term goal of $1 million. Launched in 2017 with an initial $250,000 endowment, the SMIF has steadily grown through savvy investment decisions and active management. Crossing the $700k threshold is more than just a number – it’s a testament to the student analysts’ hard work and a reflection of sustained market success.
Since the end of 2021, SMIF has performed nearly in-line with the significant performance of the S&P 500, but with approximately half of the volatility. During the 2022 bear market, SMIF’s drawdown was limited to just over 10% while the S&P 500 declined 25% on a monthly closing basis. Also, during the 2025 Liberation Day tariff bear market, SMIF experienced a minimal decline compared to the S&P 500’s substantial volatility.
The WVU SMIF portfolio’s performance speaks for itself and the fund’s growth trajectory highlights the effective investment strategies and decision making ability of the students.
2025 Standout Performers 🚀
Several holdings have delivered outstanding performance in 2025, driving the portfolio’s recent momentum. Notably, our portfolio benefited from a mix of high-growth tech names, rebounding financials, and strategic asset plays this year:
Robinhood (HOOD) – A true breakout star of 2025, Robinhood’s stock has surged over 150% in the first half of the year. The popular trading app’s expansion into crypto and tokenized stock offerings in Europe catalyzed a massive rally, rewarding us for holding on through prior slumps. SMIF now has nearly a 1,000% return on its shares of HOOD.
JPMorgan Chase (JPM) – The banking giant’s shares have delivered robust gains (around +23% year-to-date including dividends) amid strong earnings and higher interest rates . JPMorgan’s record trading revenues and dividend hikes following successful stress tests underscore its rock-solid performance.
Goldman Sachs (GS) – Another financial sector win, Goldman Sachs has climbed solidly this year on the back of improved market conditions and trading revenue. The stock notched double-digit YTD gains as Goldman navigated 2025 with strong results and even boosted shareholder payouts post-stress-test, signaling confidence in its outlook.
CrowdStrike (CRWD) – Our cybersecurity holding is crushing the market in 2025, up over 30% so far . CrowdStrike continues to benefit from heightened demand for cybersecurity solutions, translating into accelerating revenue growth and stock performance well above the S&P 500’s pace.
Advanced Micro Devices (AMD) – After a lukewarm 2024, AMD has staged an impressive rebound this year. The chipmaker’s focus on AI and data-center processors is paying off, with the stock climbing strongly in recent months and analysts predicting a major 2025 earnings surge. Our patience through last year’s dip is being rewarded as AMD regains momentum.
Grayscale Bitcoin Trust (GBTC) – The fund’s cryptocurrency exposure is back in the limelight. Bitcoin broke above $100,000 for the first time in 2025, and GBTC has ridden that wave. Early Bitcoin believers are seeing vindication – for perspective, BTC is up roughly 120× since 2013. This year’s crypto rally has added significant gains to our portfolio’s crypto position.
SPDR Gold Trust (GLD) – Gold has lived up to its safe-haven reputation in 2025, hitting all-time highs in April. The GLD gold ETF is up approximately 25% year-to-date, as investors flocked to gold amid economic uncertainty and inflation fears. Our allocation to gold has provided both returns and valuable diversification, exactly when we needed it.
Coca-Cola (KO) – A staple of stability, Coca-Cola turned in a surprisingly strong stock performance this year. KO is up ~17% YTD (near its 52-week high) as of April, showing that even defensive, dividend-paying stocks can shine in a volatile market. Coca-Cola’s reliable earnings and pricing power have made it a stealth winner in 2025, contributing steady growth to the fund.
Amphenol (APH) – This electronics components company has been a standout mid-cap performer. Amphenol posted record earnings and the stock recently hit an all-time high around $99 per share. That price marks a +46% gain over the past year. Strong organic growth (especially in data communications and mobile markets) and smart acquisitions have powered APH’s impressive run, and our portfolio has reaped the rewards.
Embraer (ERJ) – The Brazilian aircraft maker’s stock has taken off in 2025. In just the past six months, Embraer shares have risen ~59%, vastly outperforming the broader aerospace industry. A booming order backlog (hitting a historic $26 billion) and major jet sales (like a $4B deal with Scandinavian Airlines) have turbocharged investor confidence in Embraer. This position, initiated for its turnaround potential, is now a key alpha generator for us this year.
Long-Term Winners 🌟
Beyond this year’s high-flyers, the portfolio’s long-term growth has been fueled by several core holdings that have compounded in value over multiple years. These positions underscore our strategy of investing in strong businesses and holding them for the long haul:
Wal-Mart (WMT) – The retail behemoth has been a pillar of our portfolio, showcasing the strength of steady compounders. Walmart’s pivot into e-commerce and omnichannel retail has driven consistent growth and market share gains in recent years. Over the past five years, the stock has delivered a total return of more than 160%, including dividends, and our position is up over 170%. Walmart’s resilience and adaptability (from leveraging its vast store network to expanding online sales) have translated into substantial long-term gains. It remains a core holding demonstrating how a “boring” retail business can still produce market-beating returns.
Amazon.com (AMZN) – Another foundational holding, Amazon has consistently driven long-term portfolio growth. Over the past five years, Amazon’s total return is on the order of +50–80%, depending on the timeframe. SMIF is up 50% on the position. The e-commerce and cloud titan continues to expand AWS and retail services, and while 2025 has seen some stock volatility, Amazon’s multi-year performance speaks for itself. It remains one of our largest holdings.
Carpenter Technology Solutions (CRS) – A lesser-known name turned into one of our most impressive long-term gainers. Carpenter Technology’s steady climb has exemplified the power of a turnaround compounding story. The specialty alloys and materials company has benefited from surging aerospace and defense demand, leading its stock to skyrocket. In 2025, CRS is significantly outperforming the market – shares hit all-time highs and have risen ~140% in the past year – and our position is up over 300%. This performance firmly establishes Carpenter as a long-term success story in the portfolio, proving that patience with high-quality industrials can yield tremendous value.
MercadoLibre (MELI) – Our top Latin American e-commerce and fintech play, MercadoLibre is one of our largest holdings. Over the last decade, MELI’s stock has skyrocketed by over 1,380%, reflecting the company’s dominant growth across online retail and payments in the region. Even after such a tremendous run, the stock continues to deliver, validating our conviction. We are currently up ~87% on this position, as MercadoLibre’s consistent innovation and market expansion drive substantial shareholder value.
Toast (TOST) – One of our newer additions in recent semesters, Toast has turned into a big win. The restaurant tech company’s stock nearly doubled in 2024 and is off to a strong start in 2025, reflecting the market’s confidence in Toast’s SaaS platform for the hospitality industry. Our early conviction in Toast’s growth potential has paid off handsomely – it’s up 50%+, contributing significantly to the portfolio’s gains in 2025.
Taiwan Semiconductor (TSM) – The world’s largest contract chipmaker has quietly been one of our most spectacular long-run performers. TSM has steadily compounded over decades by dominating advanced semiconductor manufacturing. In fact, from 2005 to 2025 the stock delivered roughly a 2,892% total return (nearly a 30× increase). We haven’t held it that entire time, but since adding TSM we’ve enjoyed outsized gains (our position is up over 120%) as it consistently expands its cutting-edge chip production. This holding exemplifies the power of patience – a true long-term winner that continues to reach new highs on the back of AI driven global chip demand.
3M Co (MMM) – The industrial conglomerate has recently re-emerged as a winner after a prolonged slump. We are currently up over 60% on 3M, with the majority of those gains coming in the past year as the stock rebounded sharply. In fact, 3M shares have climbed ~40% over the last 12 months, far outpacing the broader market thanks to improvements in its core businesses. Strong momentum in segments like safety equipment, industrial adhesives, and a recovering electronics/aerospace unit has powered this comeback. This rapid rebound underscores 3M’s enduring resilience and the benefit of holding quality dividend-paying companies even through tough times.
Each of the above long-term positions has contributed to the portfolio’s journey from $250K to over $700K. By balancing high-growth opportunities with steady compounders, the WVU SMIF has built a resilient portfolio that can thrive in varied market conditions.
In summary, closing above $700,000 is a proud moment for the WVU SMIF team. The strong gains from both recent standout stocks and our longstanding holdings have propelled the fund to this record high. With diversification across financials, cybersecurity, semiconductors, bitcoin, gold, energy, consumer staples, industrials, and more, the fund has managed to capture upside in many areas of the market.
This milestone is just the start. We’re now setting our sights on the next goal, the $1 million mark. We will continue to manage the portfolio with diligence and discipline. The success so far showcases the value of hands-on learning and prudent investing. Here’s to reaching new heights and making 2025 another year to remember for the WVU Student Managed Investment Fund. 🚀🎉
Stay Tuned!
— SMIF
Disclaimer: None of the views or opinions expressed here is indicative of those held by West Virginia University. The content provided by the WVU Student Managed Investment Fund newsletter is for general information purposes only. No information, materials, services, and other content provided in this post constitute solicitation, recommendation, endorsement or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision. Always perform your own due diligence.
This is absolutely incredible. I am very grateful Reynolds Hall and Professor Hammer have created a program like this for motivated students!