Framework Journal · one stock, one dated entry

Recorded 2026-06-14 · Permanent

iMGP Berkshire Dividend Growth ETF BDVG

An entry written while the outcome is still unknown. It will be scored by what the market does next, and it will never be edited to look cleverer than it was.

In plain words · The fund is an actively-managed exchange-traded fund (“ETF”) that seeks to achieve its objective by investing at least 80% of its net assets, plus borrowings for investment purposes, in common stocks of U.S.

The label
Markup

read at $14.39

iMGP Berkshire Dividend Growth ETF holds its Markup at $14.39.

PHINPOOPSC
  • PHPhase · the trend structure carries the Markup label
  • INInsiders · no filings inside 60 days, left as found
  • POPositioning · no disclosures inside 60 days, left as found
  • OPOptions · no verdict drawn today, left as found
  • SCScreen · does not pass the values gate
  • edge confirmed
  • edge broken
  • edge forming

Each arm is one independent read. Conviction is not a single call, it is how many edges converge.

The investor read · the season, not the day

As held on the ledger · 2026-06-14
PhaseMarkup
Quantitative stateThe statistical read favours the sellers, held for 287 days
Price$14.39
Valuation24.56 trailing · N/A forward price to earnings
Values screenFAIL · score 30.0
BetaN/A

The business, in plain words · what the numbers mean

The fundamentals · plain-English read
Trailing P/E24.6x
a premium valuation

The risks · The main risks here are ordinary market swings and the chance our fair-value read proves too optimistic.

Plain-English interpretation of our own screen data. Analysis, not advice.

The trader read · the latest dated commentary

The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it A, carrying a low risk profile. Technically it is holding around 12% above its long-term trend line with momentum reading overbought. Over the past year the shares are up 22%. Our forward projection puts the odds of a 10% gain over the next month near 4%. Entered 2026-07-22 · Markup

The dated journal · newest first, never edited

2026-07-22 Markup $14.39 +0.0% Entry 4

The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it A, carrying a low risk profile. Technically it is holding around 12% above its long-term trend line with momentum reading overbought. Over the past year the shares are up 22%. Our forward projection puts the odds of a 10% gain over the next month near 4%.

2026-07-18 Markup $14.39 +0.0% Entry 3

The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it A, carrying a low risk profile. Technically it is holding around 12% above its long-term trend line with momentum reading overbought. Over the past year the shares are up 22%. Our forward projection puts the odds of a 10% gain over the next month near 4%.

2026-07-03 Markup $14.39 +0.0% Entry 2

The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns.

2026-07-02 Markup $14.39 Entry 1

The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns.

Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.

What holding actually paid · price plus dividends

If $1,000 had been placed · historical, not a promise
PeriodPrice thenPrice returnDivs per share$1,000 becameTotal return
1 month $13.65 +4.5% · $1,045 +4.5%
2 months $13.35 +6.9% · $1,069 +6.9%
3 months $13.10 +8.9% $0.04 $1,093 +9.3%
6 months $12.88 +10.8% $0.10 $1,116 +11.6%
1 year $11.71 +21.9% $0.22 $1,238 +23.8%
2 years $10.66 +33.9% $0.43 $1,379 +37.9%

Historical returns from market close data. Past performance does not guarantee future results.

This entry now belongs to the ledger. Whatever BDVG does next, these words stay.

iMGP Berkshire Dividend Growth ETF · BDVG · Markup · $14.39
Recorded 2026-06-14 · before the outcome · scored mechanically

All of today's entries See the running score

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