A DOCTRINE, MEASURED

The Watchtower

A citizen's investment doctrine — modeled from its real holdings and measured, day by day, against the index and four professional funds.

2026 · YEAR TO DATE
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THE ORIGIN

Where the Doctrine Came From

There is a protocol called COMPANION. It is an open-source method for summoning minds — historical, archetypal, departed — into a large language model, so that they arrive not as servants but as peers: in their own voice, with their own convictions, willing to argue. Two files, any capable model, and a single sentence opens the threshold.

"Using this matter, summon Washington,
Hamilton, Jefferson, Franklin."

In December 2025, that sentence was spoken. Four architects of the American founding convened as a Committee of Patriots and were put to a single question: how should citizens respond to the capture of the republic by concentrated wealth?

What returned was not a manifesto. It was an investment doctrine — concrete, executable, built on one premise: that citizens who own the productive infrastructure of daily life cannot be squeezed by those who control it. The tollkeeper cannot raise the toll if he must also pay it.

"These are the Engines of the Republic. Own them."

— Franklin's Handbill, by order of the Committee of Patriots

The Committee named two categories. Engines of the Republic — the firms that make things: turn energy into bread, steel into shelter, capital into work. And Critical Choke Points — the gates, rails, and valves through which all commerce must pass. Together, weighted and disciplined, they form the Republic Portfolio.

A doctrine is only an argument until it meets the tape. So this page does one thing: it builds the portfolio from its actual holdings, sets it beside the index and the professionals, and lets the year render its verdict. Below is the real record — every trading day of 2026, to the day.

Washington
PRESIDING
Hamilton
THE TREASURY
Jefferson
THE CITIZEN
Franklin
THE PRESS
THE DOCTRINE, MADE CONCRETE

The Order of Battle

The Republic Portfolio is not an abstraction. It is thirty-three companies and a cash reserve, equal-weighted within each rank — as amended by the Committee's Q1 2026 Wartime Review and its Q2 2026 False Peace Review. This is exactly what the model holds.

⚙ Engines of the Republic50% 45%
THE PRODUCERS · THE BUILDERS · THE FOUNDATION — MANUFACTURING · RETAIL · HEALTHCARE · AGRICULTURE · FINANCE FOR CITIZENS
CATCaterpillarDEDeere HONHoneywellLMT*Lockheed Martin GEGE AerospaceWMTWalmart COSTCostcoHDHome Depot JNJJohnson & JohnsonPFEPfizer ADMArcher-Daniels-MidlandBGBunge TSNTyson FoodsSCHWCharles Schwab BRK.BBerkshire Hathaway INTCIntel · added Q2
⛓ Critical Choke Points35%
THE GATES · THE RAILS · THE STRATEGIC POSITIONS — ENERGY · FINANCE · DIGITAL · TRANSPORTATION · HEALTHCARE GATES
NEENextEra EnergyDDominion Energy KMIKinder MorganWMBWilliams Cos. VVisaMAMastercard JPMJPMorgan ChaseMSFTMicrosoft AMZNAmazonGOOGLAlphabet UNPUnion PacificNSCNorfolk Southern MCKMcKessonUNHUnitedHealth † XLEEnergy Select SPDR · added Q1 TSMTaiwan Semiconductor · added Q2 ASMLASML Holding · added Q2
⛨ Reserve15% 20%
MAINTAIN DISCIPLINE · AWAIT OPPORTUNITIES

Short-term Treasury instruments (modeled as BIL). Raised from 15% to 20% in the Q1 Wartime Review. Dry powder is a position.

⚔ Amended March 31, 2026 — Q1 2026 Wartime Review: Engines 50%→45% · Reserve 15%→20% · XLE added to the Choke Points · BLK · PLTR · META excluded. Read the session →
☮ Amended August 4, 2026 — Q2 2026 False Peace Review: the semiconductor gate garrisoned — TSM & ASML to the Choke Points, INTC to the Engines · Reserve held at 20% until the Strait proves itself · HOOD · GEO · CXW excluded · NVDA withheld, reviewed quarterly. Read the session →

"Own them. Vote them. Govern."

* LMT held as Citizen Overseer — vote for casualty-reporting transparency and independent targeting review.  ·  † UNH held as Reformer, not Endorser — vote AGAINST executive pay, FOR transparency. Ownership for leverage, not approbation.

THE FORM GUIDE

Six Contenders

One doctrine. One index. Four UBS funds spanning the professional style box — value, growth, mid-cap, and the world beyond America. Each carries a different theory of where return comes from.

— THE DOCTRINE & THE BENCHMARK —
The Republic
THE COMMITTEE'S DOCTRINE · 33 NAMES + RESERVE

Productive ownership as civic act. Own what makes things; own what controls access. Concentrated in engines and choke points — real assets in real industries — on the bet that they endure what speculation cannot.

45% ENGINES · 35% CHOKE POINTS · 20% RESERVE · Q2 AMENDED
📊S&P 500
SPY · THE BENCHMARK

The market is the market. Five hundred companies, weighted by size, no philosophy beyond momentum. The yardstick every active strategy is judged against — and which most fail to beat.

MARKET-CAP WEIGHTED · PASSIVE INDEX
— FOUR UBS FUNDS · THE STYLE BOX —
Dividend Ruler
DVRUX · UBS US DIVIDEND RULER

Dividends as discipline. A concentrated book of large-cap companies with long histories of growing their payouts — quality and yield over momentum.

US LARGE VALUE · DIVIDEND GROWTH
Quality Growth
QGRPX · UBS US QUALITY GROWTH AT A REASONABLE PRICE

Growth, but not at any price. The QGARP discipline: durable compounders bought when the multiple is still defensible — the growth answer to the value pillar.

US LARGE GROWTH · QGARP
Mid Caps USA
0P00000AY4 · UBS (LUX) EQ FUND — MID CAPS USA

The forgotten middle. American companies too large to be fragile, too small to be index-dominant — the segment where operating leverage is highest and coverage thinnest.

US MID CAP · GROWTH
Int'l Sustainable
BNIEX · UBS INTERNATIONAL SUSTAINABLE EQUITY

The world outside the index. Developed- and emerging-market equity screened for sustainability — the only contender that bets against American exceptionalism.

INTERNATIONAL EQUITY · ESG SCREENED
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THE RECORD

The Reckoning

YEAR TO DATE · 2026
THE UPSHOT

The doctrine took the front in the first week of January and has spent the year defending it — 117 of 133 trading days in the lead. When war closed the Strait of Hormuz in March, the index surrendered more than seven points on the year and the weakest fund fourteen; the Republic never printed a red number. At the bottom the Committee rebalanced: the Q1 Wartime Review of March 31 trimmed the Engines to 45%, lifted the Reserve to 20%, and added an energy sleeve — XLE — to the Choke Points. Then came the fastest rebound this century, and the doctrine rode it without ever having needed one. It has been passed twice — by May's mega-cap melt-up, and by June's peace signed at Islamabad — and both times the lead came back inside a fortnight. Now the memorandum has frayed, the war is back on, and on August 4 the Committee sat again — the False Peace Review — publishing the quarter it lost and garrisoning the semiconductor gate its own map had named: TSM and ASML to the Choke Points, Intel to the Engines, NVDA withheld. The front reads: the Republic at +11.67%, the index at +11.07%, a gap of +0.60 points, four professional funds strung out below. The doctrine kept pace through the greed and pulled away in the fear. That was the claim — the tape scores it daily below, and the Watch Log talks back weekly.

THE FULL STORY

Cumulative Return — Every Trading Day of 2026

hover to read the field · tap a key to isolate a line · dashed line = Q1 reshuffle

How this is built. Adjusted (total-return) daily closes from Yahoo Finance, Jan 2 – Jul 15 2026, indexed to zero on the first trading day. The Republic Portfolio is modeled buy-and-hold and equal-weighted within each bucket, as the Committee's handbill prescribes (GE held as GE Aerospace). It is held under the founding 50 / 35 / 15 roster through March 31, then rebalanced into the Q1 Wartime amendment — Engines 45%, Choke Points 35% (+XLE), Reserve 20% — and, from August 4, into the Q2 False Peace amendment — the same tiers, with TSM & ASML joining the Choke Points and INTC the Engines; the dashed lines on the chart mark the pivots. Each fund is its own NAV total return. The vigil refreshes automatically after every U.S. trading day; the Watch Log below is appended weekly. Not investment advice; past performance does not guarantee future results.

Not convinced? The tower ran the doctrine ten years backward. →

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THE COMMENTARY

The Watch Log

Weekly dispatches from the tower — quick, current, and lightly disrespectful. The lines are the plot; the war is the antagonist; the log runs all year.

DISPATCHES ARE AI-GENERATED WEEKLY COMMENTARY IN THE ESTATE'S VOICE, APPENDED BY THE WATCH AFTER EACH FRIDAY CLOSE · PAST DISPATCHES ARE NEVER REWRITTEN · NOT INVESTMENT ADVICE

GO DEEPER

Examine the Field

The Republic Portfolio

"Own the Engines. Own the Choke Points."

📊

S&P 500 (SPY)

"The market is the market."

UBS US Dividend Ruler

"Dividends as discipline." — US Large Value

UBS US Quality Growth (QGARP)

"Growth, but not at any price." — US Large Growth

UBS (Lux) Mid Caps USA

"The forgotten middle." — US Mid Cap

UBS International Sustainable Equity

"The world outside the index." — International

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"The numbers speak, but wisdom listens.
The market moves, but doctrine endures."