# Forest Hill: Analysis of 2026-Q2 13F Filings and Key Takeaways for Individual Investors

LeadHold is dedicated to assessing the reference value of investment institutions for retail investors. By continuously tracking the core holdings of Forest Hill, LeadHold simulates buying its top five reported holdings on the first trading day after each 13F filing is released, then evaluates annualized return, Annualized Excess Return, Sharpe ratio, maximum drawdown, and other performance metrics to assign a composite score and ranking. This analysis is intended to assess its relevance for individual investors and does not constitute investment advice.

## key performance metrics
* **Annualized Return: +4.55%**
* **Annualized Excess Return: -8.80%**
* **Sharpe ratio: 0.24**
* **Tracking Period: 13y 2m 9d**
* **Total Return Since Tracking: +79.55%**

## Risk Management
* **Maximum Drawdown: +43.87%**
* **Max Drawdown Recovery Time: 1y 10m 14d**


## Overall Assessment
Based on key performance metrics, including annualized return of +4.55%, Annualized Excess Return of -8.80%, tracking period of 13y 2m 9d, Sharpe ratio of 0.24, and maximum drawdown of 43.87%, LeadHold classifies Forest Hill as **Limited reference value**. However, because its tracking period is less than five years, it is not included in the LeadHold rankings. This information is provided for reference only and does not constitute investment advice.


## Top Five Core Long Positions
LeadHold assesses an institution’s relevance for retail investors by simulating a proportional purchase of its top five reported holdings.

1. PHYS 39.32% 

2. GDX 18.84% 

3. NEM 16.37% 

4. FNV 15.28% 

5. SLV 10.20% 


## Latest Top 10 Holdings
For the top 10 holdings, LeadHold uses publicly available data and actual trading volumes, together with an algorithm based on a diluted cost-basis methodology, to estimate the cost basis of selected positions. This estimate is provided for reference only and does not represent the investment institution’s actual cost basis.

|   No   |   Stock Name   |   Ticker   |  Activity   |    Estimated Cost  | Weight | Market Value | Shares |
| -------- | -------- | -------- | -------- | -------- | -------- | -------- |  -------- | 
|   1   |   SPROTT PHYSICAL GOLD TR   |   PHYS   |  Held   |      |   +33.63% |    43.7M  |    1.45M  |
|   2   |   VANECK VECTORS ETF   |   GDX   |  Held   |      |   +16.11% |    20.94M  |    277.5K  |
|   3   |   Newmont   |   NEM   |  Held   |      |   +14% |    18.19M  |    194.75K  |
|   4   |   Franco-Nevada   |   FNV   |  Held   |      |   +13.07% |    16.99M  |    81.5K  |
|   5   |   ISHARES SILVER TR   |   SLV   |  Held   |      |   +8.72% |    11.34M  |    212K  |
|   6   |   SPROTT PHYSICAL SILVER TR   |   PSLV   |  Held   |      |   +5.63% |    7.32M  |    388K  |
|   7   |   VANGUARD WHITEHALL FDS   |   VYM   |  Held   |      |   +1.45% |    1.89M  |    19.2K  |
|   8   |   VANGUARD INDEX FDS   |   VOO   |  Added +7.25%   |      |   +1.38% |    1.8M  |    7.4K  |
|   9   |   AbbVie   |   ABBV   |  Held   |      |   +0.7% |    905.9K  |    3.6K  |
|   10   |   DIGITAL RLTY TR INC   |   DLR   |  Held   |      |   +0.69% |    897.9K  |    5K  |


## Q: Why track only the top five holdings?

**A:** The top five holdings usually represent an institution’s core allocation intent, reducing tracking complexity while improving strategy clarity and replicability.

- Focus on core allocation intent
- Reduce tracking decision load
- Improve strategy replicability


## Q: How do we validate an institution's reference value?

**A:** Using SEC-filed holdings reports, we screen institutions with independently verifiable and easier-to-replicate long-term public records, then rank them.

- More than five years of disclosed holdings
- Track the top five long positions
- Measure annualized return and consistency