Key facts
- The True Rock Fund, managed by Jeff Wrona, has returned 49% in 2026.
- Since its launch in February 2020, the fund has gained 277%, outperforming the S&P 500's 132% return.
- Wrona's strategy prioritizes 'business momentum,' focusing on sales growth, earnings growth, profit margins, and valuations.
- He places significant importance on quarterly earnings calls and executive forward guidance.
- Wrona's approach involves a long-short strategy with a high turnover rate of 685%.
Jeff Wrona, manager of the True Rock Fund (TRUEX), has achieved exceptional market-beating returns, with a 49% gain this year and a 277% increase since the fund's launch in February 2020, significantly outperforming the S&P 500's 132% return over the same period. Wrona attributes his success to a distinct investment strategy characterized by three core tenets. The primary focus is on 'business momentum,' which he differentiates from stock price momentum, looking instead at the underlying growth of a company's operations. Key indicators he monitors include sales growth, earnings growth, profit margins, and valuations. This approach has led him to invest in companies benefiting from the AI buildout, such as Nvidia, Micron, Lumentum, and formerly SanDisk. Wrona also emphasizes the critical importance of quarterly earnings calls and the forward guidance provided by company executives, using this information to navigate market skepticism. Finally, he advocates for making decisions free from fear, believing that emotional biases can hinder performance. His strategy employs a long-short approach with a remarkably high turnover rate of 685%, placing him in the top 1% of all funds.