Editor’s Note: The following is an excerpt from Jason Fieber’s September 2025 update for the FIRE Fund — his real-life, real-money dividend growth stock portfolio. Jason shares his full portfolio and detailed updates with Patrons each month. For just $8/month, subscribers get exclusive access to every stock he owns, every trade he makes, and his in-depth reasoning behind it all. Learn more here.
This is the September 2025 update for the FIRE Fund, which is my real-money dividend growth stock portfolio.
Although the Fund’s “raison d’être” is to provide enough growing dividend income for me to sustainably live off of, there are three general objectives for the Fund:
- Provide market-beating dividend income
- Provide inflation-beating organic income growth
- Provide market-like, or better, total return over the long run
I meet these objectives by:
- Investing in wonderful businesses that pay safe, growing dividends
- Investing at reasonable valuations
- Investing for the long term
The market value of the Fund is now at $807,561.72. That’s a 3.5% increase from the $780,175.91 market value as of the last update. The Fund benefited from fairly strong and broad performance across the broader market throughout August.
There are 237 positions in the Fund. The Fund is extremely diversified, which I love, and I’m steadfastly committed to diversifying the Fund even more over the coming years. Durability is of the utmost importance to me. No matter what, I want to survive and stay in the game.
It’s not necessarily how fast you compound but how long you can compound. With 200+ terrific businesses now in the fold, it’s very difficult to imagine a scenario in which I’m somehow permanently and gravely financially wounded. The last thing you want is to be zeroed out after years of climbing the mountain. One doesn’t work so hard to achieve financial independence only to then give it all up. It’s difficult enough to get rich once. I wouldn’t count on getting rich twice.
Another essential characteristic of the Fund is quality. If you want great investment results over the long run, you must invest in great businesses. It’s simple logic. One cannot expect to consistently do well over time with poor businesses, just the same as one cannot expect to consistently win games with a team full of poor players.
Yes, poor teams can win some games, and poor businesses can see their shares do really well over short periods of time, but this isn’t a very dependable strategy over the long run. I’ll continue to slowly and incrementally improve the Fund by adding wonderful businesses to the mix that only serve to improve and fortify what already exists. However, trims/sales here and there will occur as some businesses deteriorate over time and/or are acquired by outside entities.
Want to See Jason’s Full Update?
This was just a small taste of Jason’s full September report. He shares everything with his Patreon community — including all 237 holdings, detailed buy/sell alerts, dividend income projections, and month-by-month commentary on his FIRE journey.
It’s an incredible value for just $8/month. 👉 Click here to join Jason on Patreon and get full access.
