Michael Burry · Scion Asset Management
Michael Burry alpha 20.62%
The strongest recent period was 2025-03-31 (49.73% strategy return, 9.22% benchmark, 40.52% excess, 164.36% turnover), while the weakest was 2023-09-30 (0.24% strategy return, 10.11% benchmark, -9.87% excess, 114.64% turnover). Those periods should be read alongside baseline metrics of return 22.80%, alpha 20.62%, beta 0.68, Sharpe 0.65, Sortino 0.92, and max drawdown -65.68% to judge whether returns came from persistent exposure or a narrow timing window. — The combo basket is led by LULU (lululemon athletica inc.) 100.00%, with sector exposure of Consumer Discretionary 100.00%. The latest change list shows LULU increase to 100.00%, so the user should inspect whether these are desirable active bets or just mechanical consequences of the screen. The current momentum book has top 5 100.00%, top 10 100.00%, top 20 100.00% and sector exposure of Health Care 100.00%. Its leading holdings are MOH (Molina Healthcare, Inc.) 100.00%, so the user should decide whether this is diversified momentum or a concentrated bet on a small group of recent winners. Combo Equal Screen changes structure by selecting LULU (lululemon athletica inc.) 100.00%. That produces top 5 100.00%, top 10 100.00%, top 20 100.00% and sector exposure of Consumer Discretionary 100.00%. Compared with baseline concentration of top 5 100.00%, top 10 100.00%, top 20 100.00%, this is less about copying original sizing and more about testing a cleaner rules-based basket. View fund → Clifford Sosin · CAS Investment Partners
Clifford Sosin alpha 10.43%
The strongest recent period was 2023-12-31 (52.59% strategy return, 4.96% benchmark, 47.63% excess, 9.68% turnover), while the weakest was 2025-12-31 (-66.85% strategy return, 9.57% benchmark, -76.42% excess, 1.25% turnover). Those periods should be read alongside baseline metrics of return 11.98%, alpha 10.43%, beta 0.93, Sharpe 0.53, Sortino 0.57, and max drawdown -74.71% to judge whether returns came from persistent exposure or a narrow timing window. The selected value book has top 5 100.00%, top 10 100.00%, top 20 100.00%, versus baseline top 5 100.00%, top 10 100.00%, top 20 100.00%. Its largest positions are COF (Capital One Financial Corporation) 100.00%, so concentration risk still needs to be reviewed even if the names look cheaper. The combo basket is led by CVNA (Carvana Co.) 20.00%, HGV (Hilton Grand Vacations Inc.) 20.00%, COF (Capital One Financial Corporation) 20.00%, CDLX (Cardlytics, Inc.) 20.00%, and SWIM (Latham Group, Inc.) 20.00%, with sector exposure of Consumer Discretionary 60.00%, Financials 20.00%, and Communication Services 20.00%. The latest change list shows CVNA decrease to 20.00%; CDLX increase to 20.00%; SWIM increase to 20.00%, so the user should inspect whether these are desirable active bets or just mechanical consequences of the screen. — — View fund → Duan Yongping · H&H International Investment
Duan Yongping alpha 9.11%
The strongest recent period was 2025-06-30 (15.09% strategy return, 4.20% benchmark, 10.89% excess, 8.01% turnover), while the weakest was 2023-09-30 (0.69% strategy return, 10.11% benchmark, -9.42% excess, 4.19% turnover). Those periods should be read alongside baseline metrics of return 25.48%, alpha 9.11%, beta 1.05, Sharpe 1.05, Sortino 1.41, and max drawdown -27.84% to judge whether returns came from persistent exposure or a narrow timing window. The selected value book has top 5 99.99%, top 10 99.99%, top 20 99.99%, versus baseline top 5 91.45%, top 10 99.84%, top 20 100.00%. Its largest positions are BRK.A (Berkshire Hathaway Inc.) 33.33%, PDD 33.33%, and BABA (Alibaba Group Holding Limited) 33.33%, so concentration risk still needs to be reviewed even if the names look cheaper. The combo basket is led by PDD 25.00%, NVDA (NVIDIA Corporation) 25.00%, MSFT (Microsoft Corporation) 25.00%, and GOOGL (Alphabet Inc.) 25.00%, with sector exposure of Information Technology 50.00%, Consumer Discretionary 25.00%, and Communication Services 25.00%. The latest change list shows MSFT increase to 25.00%; GOOGL increase to 25.00%; PDD increase to 25.00%, so the user should inspect whether these are desirable active bets or just mechanical consequences of the screen. The current momentum book has top 5 99.99%, top 10 99.99%, top 20 99.99% and sector exposure of Information Technology 33.33%, Communication Services 33.33%, and Energy 33.33%. Its leading holdings are AAPL (Apple Inc.) 33.33%, GOOGL (Alphabet Inc.) 33.33%, and OXY (Occidental Petroleum Corporation) 33.33%, so the user should decide whether this is diversified momentum or a concentrated bet on a small group of recent winners. Combo Equal Screen changes structure by selecting PDD 25.00%, NVDA (NVIDIA Corporation) 25.00%, MSFT (Microsoft Corporation) 25.00%, and GOOGL (Alphabet Inc.) 25.00%. That produces top 5 100.00%, top 10 100.00%, top 20 100.00% and sector exposure of Information Technology 50.00%, Consumer Discretionary 25.00%, and Communication Services 25.00%. Compared with baseline concentration of top 5 91.45%, top 10 99.84%, top 20 100.00%, this is less about copying original sizing and more about testing a cleaner rules-based basket. View fund → Chase Coleman · Tiger Global Management
Chase Coleman alpha 6.49%
The strongest recent period was 2023-09-30 (19.49% strategy return, 10.11% benchmark, 9.38% excess, 21.94% turnover), while the weakest was 2025-09-30 (-10.22% strategy return, 1.46% benchmark, -11.68% excess, 27.91% turnover). Those periods should be read alongside baseline metrics of return 19.68%, alpha 6.49%, beta 0.94, Sharpe 0.97, Sortino 1.31, and max drawdown -43.59% to judge whether returns came from persistent exposure or a narrow timing window. The selected value book has top 5 69.74%, top 10 96.80%, top 20 100.00%, versus baseline top 5 43.68%, top 10 65.27%, top 20 87.75%. Its largest positions are MSFT (Microsoft Corporation) 20.00%, META (Meta Platforms, Inc.) 20.00%, APO (Apollo Global Management, Inc.) 11.03%, and FLUT (Flutter Entertainment plc) 10.63%, so concentration risk still needs to be reviewed even if the names look cheaper. — The current momentum book has top 5 61.49%, top 10 93.12%, top 20 100.01% and sector exposure of Communication Services 30.59%, Financials 27.44%, Information Technology 24.41%, and Industrials 14.72%. Its leading holdings are GOOGL (Alphabet Inc.) 20.00%, AVGO (Broadcom Inc.) 11.66%, APO (Apollo Global Management, Inc.) 10.74%, and RDDT (Reddit, Inc.) 10.59%, so the user should decide whether this is diversified momentum or a concentrated bet on a small group of recent winners. Combo Equal Screen changes structure by selecting GOOGL (Alphabet Inc.) 8.33%, MSFT (Microsoft Corporation) 8.33%, AMZN (Amazon.com, Inc.) 8.33%, NVDA (NVIDIA Corporation) 8.33%, SE (Sea Limited) 8.33%, META (Meta Platforms, Inc.) 8.33%, GEV (GE Vernova Inc.) 8.33%, and LRCX (Lam Research Corporation) 8.33%. That produces top 5 41.65%, top 10 83.30%, top 20 99.96% and sector exposure of Information Technology 41.65%, Communication Services 24.99%, Consumer Discretionary 16.66%, and Industrials 16.66%. Compared with baseline concentration of top 5 43.68%, top 10 65.27%, top 20 87.75%, this is less about copying original sizing and more about testing a cleaner rules-based basket. View fund → S&P 500 Momentum
SPMO | S&P 500 Momentum alpha 6.03%
The strongest recent period was 2026-03-31 (16.93% strategy return, 9.42% benchmark, 7.52% excess, 113.78% turnover), while the weakest was 2025-07-31 (0.49% strategy return, 2.05% benchmark, -1.56% excess, 1.59% turnover). Those periods should be read alongside baseline metrics of return 20.86%, alpha 6.03%, beta 1.01, Sharpe 1.06, Sortino 1.33, and max drawdown -29.77% to judge whether returns came from persistent exposure or a narrow timing window. The selected value book has top 5 62.06%, top 10 87.06%, top 20 100.00%, versus baseline top 5 38.75%, top 10 55.03%, top 20 71.56%. Its largest positions are GS (The Goldman Sachs Group, Inc.) 16.53%, NEM (Newmont Corporation) 14.75%, C 12.32%, and MS (Morgan Stanley) 11.36%, so concentration risk still needs to be reviewed even if the names look cheaper. The combo basket is led by GOOGL (Alphabet Inc.) 5.56%, NVDA (NVIDIA Corporation) 5.56%, MU (Micron Technology, Inc.) 5.56%, LRCX (Lam Research Corporation) 5.56%, and AMAT (Applied Materials, Inc.) 5.56%, with sector exposure of Information Technology 44.48%, Industrials 27.80%, Materials 11.12%, and Communication Services 5.56%. The latest change list shows EXPD increase to 5.56%; CBOE increase to 5.56%; EME increase to 5.56%, so the user should inspect whether these are desirable active bets or just mechanical consequences of the screen. — Combo Equal Screen changes structure by selecting GOOGL (Alphabet Inc.) 5.56%, NVDA (NVIDIA Corporation) 5.56%, MU (Micron Technology, Inc.) 5.56%, LRCX (Lam Research Corporation) 5.56%, AMAT (Applied Materials, Inc.) 5.56%, GEV (GE Vernova Inc.) 5.56%, NEM (Newmont Corporation) 5.56%, and PLTR (Palantir Technologies Inc.) 5.56%. That produces top 5 27.80%, top 10 55.60%, top 20 100.08% and sector exposure of Information Technology 44.48%, Industrials 27.80%, Materials 11.12%, and Communication Services 5.56%. Compared with baseline concentration of top 5 38.75%, top 10 55.03%, top 20 71.56%, this is less about copying original sizing and more about testing a cleaner rules-based basket. View fund → Bryan Lawrence · Oakcliff Capital
Bryan Lawrence alpha 5.96%
The strongest recent period was 2024-06-30 (16.47% strategy return, 9.83% benchmark, 6.65% excess, 7.42% turnover), while the weakest was 2023-09-30 (7.09% strategy return, 10.11% benchmark, -3.02% excess, 17.39% turnover). Those periods should be read alongside baseline metrics of return 16.81%, alpha 5.96%, beta 0.78, Sharpe 0.95, Sortino 1.27, and max drawdown -34.89% to judge whether returns came from persistent exposure or a narrow timing window. — The combo basket is led by GOOGL (Alphabet Inc.) 100.00%, with sector exposure of Communication Services 100.00%. The latest change list shows GOOGL increase to 100.00%, so the user should inspect whether these are desirable active bets or just mechanical consequences of the screen. The current momentum book has top 5 100.00%, top 10 100.00%, top 20 100.00% and sector exposure of Communication Services 100.00%. Its leading holdings are GOOGL (Alphabet Inc.) 100.00%, so the user should decide whether this is diversified momentum or a concentrated bet on a small group of recent winners. Combo Equal Screen changes structure by selecting GOOGL (Alphabet Inc.) 100.00%. That produces top 5 100.00%, top 10 100.00%, top 20 100.00% and sector exposure of Communication Services 100.00%. Compared with baseline concentration of top 5 86.81%, top 10 99.99%, top 20 99.99%, this is less about copying original sizing and more about testing a cleaner rules-based basket. View fund → Cathie Wood · ARK Investment
Cathie Wood alpha 5.68%
The strongest recent period was 2024-06-30 (20.44% strategy return, 9.83% benchmark, 10.61% excess, 9.47% turnover), while the weakest was 2025-09-30 (-5.56% strategy return, 1.46% benchmark, -7.02% excess, 8.42% turnover). Those periods should be read alongside baseline metrics of return 16.43%, alpha 5.68%, beta 0.77, Sharpe 0.93, Sortino 1.28, and max drawdown -36.98% to judge whether returns came from persistent exposure or a narrow timing window. The selected value book has top 5 67.42%, top 10 84.50%, top 20 99.99%, versus baseline top 5 49.53%, top 10 74.15%, top 20 92.95%. Its largest positions are XYZ (Block, Inc.) 20.00%, ILMN (Illumina, Inc.) 20.00%, BABA (Alibaba Group Holding Limited) 20.00%, and ICE (Intercontinental Exchange, Inc.) 3.84%, so concentration risk still needs to be reviewed even if the names look cheaper. — — Combo Equal Screen changes structure by selecting PLTR (Palantir Technologies Inc.) 5.88%, SHOP (Shopify Inc.) 5.88%, TER (Teradyne, Inc.) 5.88%, AMZN (Amazon.com, Inc.) 5.88%, NVDA (NVIDIA Corporation) 5.88%, ISRG (Intuitive Surgical, Inc.) 5.88%, SPOT (Spotify Technology S.A.) 5.88%, and META (Meta Platforms, Inc.) 5.88%. That produces top 5 29.40%, top 10 58.80%, top 20 99.96% and sector exposure of Information Technology 41.16%, Consumer Discretionary 23.52%, Health Care 11.76%, and Communication Services 11.76%. Compared with baseline concentration of top 5 49.53%, top 10 74.15%, top 20 92.95%, this is less about copying original sizing and more about testing a cleaner rules-based basket. View fund → S&P 500 Technology Sector
XLK | S&P 500 Technology Sector alpha 5.38%
— The selected value book has top 5 68.85%, top 10 85.91%, top 20 100.01%, versus baseline top 5 46.32%, top 10 62.68%, top 20 78.73%. Its largest positions are QCOM (QUALCOMM Incorporated) 20.00%, CRM (Salesforce, Inc.) 17.83%, ACN (Accenture plc) 11.74%, and ADBE (Adobe Inc.) 11.00%, so concentration risk still needs to be reviewed even if the names look cheaper. The combo basket is led by NVDA (NVIDIA Corporation) 5.00%, MSFT (Microsoft Corporation) 5.00%, MU (Micron Technology, Inc.) 5.00%, LRCX (Lam Research Corporation) 5.00%, and NOW (ServiceNow, Inc.) 5.00%, with sector exposure of Information Technology 100.00%. The latest change list shows NVDA decrease to 5.00%; PTC increase to 5.00%; FFIV increase to 5.00%, so the user should inspect whether these are desirable active bets or just mechanical consequences of the screen. — Combo Equal Screen changes structure by selecting NVDA (NVIDIA Corporation) 5.00%, MSFT (Microsoft Corporation) 5.00%, MU (Micron Technology, Inc.) 5.00%, LRCX (Lam Research Corporation) 5.00%, NOW (ServiceNow, Inc.) 5.00%, PANW (Palo Alto Networks, Inc.) 5.00%, ANET (Arista Networks, Inc.) 5.00%, and PLTR (Palantir Technologies Inc.) 5.00%. That produces top 5 25.00%, top 10 50.00%, top 20 100.00% and sector exposure of Information Technology 100.00%. Compared with baseline concentration of top 5 46.32%, top 10 62.68%, top 20 78.73%, this is less about copying original sizing and more about testing a cleaner rules-based basket. View fund → Dennis Hong · ShawSpring Partners
Dennis Hong alpha 5.14%
The strongest recent period was 2023-12-31 (20.59% strategy return, 4.96% benchmark, 15.63% excess, 6.40% turnover), while the weakest was 2025-12-31 (-3.25% strategy return, 9.57% benchmark, -12.81% excess, 25.84% turnover). Those periods should be read alongside baseline metrics of return 17.93%, alpha 5.14%, beta 1.08, Sharpe 0.66, Sortino 0.92, and max drawdown -69.59% to judge whether returns came from persistent exposure or a narrow timing window. The selected value book has top 5 100.00%, top 10 100.00%, top 20 100.00%, versus baseline top 5 75.23%, top 10 100.01%, top 20 100.01%. Its largest positions are BABA (Alibaba Group Holding Limited) 50.00%, and INTU (Intuit Inc.) 50.00%, so concentration risk still needs to be reviewed even if the names look cheaper. — The current momentum book has top 5 100.00%, top 10 100.00%, top 20 100.00% and sector exposure of Consumer Discretionary 50.00%, and Communication Services 50.00%. Its leading holdings are AMZN (Amazon.com, Inc.) 50.00%, and FWON.K (Formula One Group) 50.00%, so the user should decide whether this is diversified momentum or a concentrated bet on a small group of recent winners. Combo Equal Screen changes structure by selecting AMZN (Amazon.com, Inc.) 50.00%, and INTU (Intuit Inc.) 50.00%. That produces top 5 100.00%, top 10 100.00%, top 20 100.00% and sector exposure of Consumer Discretionary 50.00%, and Information Technology 50.00%. Compared with baseline concentration of top 5 75.23%, top 10 100.01%, top 20 100.01%, this is less about copying original sizing and more about testing a cleaner rules-based basket. View fund → Bruce Berkowitz · Fairholme Capital
Bruce Berkowitz alpha 4.49%
The strongest recent period was 2023-03-31 (41.67% strategy return, 7.90% benchmark, 33.76% excess, 8.52% turnover), while the weakest was 2024-06-30 (-9.39% strategy return, 9.83% benchmark, -19.22% excess, 3.34% turnover). Those periods should be read alongside baseline metrics of return 14.64%, alpha 4.49%, beta 0.93, Sharpe 0.61, Sortino 0.93, and max drawdown -44.76% to judge whether returns came from persistent exposure or a narrow timing window. The selected value book has top 5 99.99%, top 10 99.99%, top 20 99.99%, versus baseline top 5 98.88%, top 10 99.84%, top 20 100.02%. Its largest positions are OZK 33.33%, FANG (Diamondback Energy, Inc.) 33.33%, and EOG 33.33%, so concentration risk still needs to be reviewed even if the names look cheaper. The combo basket is led by CF 25.00%, PGR (The Progressive Corporation) 25.00%, WRB (W. R. Berkley Corporation) 25.00%, and EOG 25.00%, with sector exposure of Financials 50.00%, Materials 25.00%, and Energy 25.00%. The latest change list shows EOG increase to 25.00%; CF increase to 25.00%; PGR increase to 25.00%, so the user should inspect whether these are desirable active bets or just mechanical consequences of the screen. The current momentum book has top 5 99.99%, top 10 99.99%, top 20 99.99% and sector exposure of Real Estate 33.33%, Energy 33.33%, and Consumer Staples 33.33%. Its leading holdings are JOE (The St. Joe Company) 33.33%, CVX (Chevron Corporation) 33.33%, and TGT (Target Corporation) 33.33%, so the user should decide whether this is diversified momentum or a concentrated bet on a small group of recent winners. Combo Equal Screen changes structure by selecting CF 25.00%, PGR (The Progressive Corporation) 25.00%, WRB (W. R. Berkley Corporation) 25.00%, and EOG 25.00%. That produces top 5 100.00%, top 10 100.00%, top 20 100.00% and sector exposure of Financials 50.00%, Materials 25.00%, and Energy 25.00%. Compared with baseline concentration of top 5 98.88%, top 10 99.84%, top 20 100.02%, this is less about copying original sizing and more about testing a cleaner rules-based basket. View fund → The strongest recent period was 2026-03-31 (14.67% strategy return, 9.42% benchmark, 5.26% excess, 6.97% turnover), while the weakest was 2025-10-31 (-2.04% strategy return, 0.20% benchmark, -2.24% excess, 1.75% turnover). Those periods should be read alongside baseline metrics of return 21.06%, alpha 4.41%, beta 1.16, Sharpe 0.97, Sortino 1.24, and max drawdown -35.09% to judge whether returns came from persistent exposure or a narrow timing window. The selected value book has top 5 55.38%, top 10 78.43%, top 20 100.03%, versus baseline top 5 33.59%, top 10 50.92%, top 20 69.40%. Its largest positions are QCOM (QUALCOMM Incorporated) 15.33%, TMUS (T-Mobile US, Inc.) 13.99%, GILD (Gilead Sciences, Inc.) 10.69%, and BKNG (Booking Holdings Inc.) 8.61%, so concentration risk still needs to be reviewed even if the names look cheaper. The combo basket is led by NVDA (NVIDIA Corporation) 5.00%, GOOGL (Alphabet Inc.) 5.00%, MSFT (Microsoft Corporation) 5.00%, AMZN (Amazon.com, Inc.) 5.00%, and MU (Micron Technology, Inc.) 5.00%, with sector exposure of Information Technology 45.00%, Consumer Discretionary 15.00%, Industrials 15.00%, and Communication Services 10.00%. The latest change list shows CTSH increase to 5.00%; CPRT increase to 5.00%; ODFL increase to 5.00%, so the user should inspect whether these are desirable active bets or just mechanical consequences of the screen. The current momentum book has top 5 61.44%, top 10 83.40%, top 20 100.01% and sector exposure of Information Technology 90.88%, Consumer Discretionary 4.06%, Industrials 2.62%, and Energy 2.45%. Its leading holdings are MU (Micron Technology, Inc.) 17.69%, AMD (Advanced Micro Devices, Inc.) 15.62%, INTC (Intel Corporation) 13.13%, and LRCX (Lam Research Corporation) 7.73%, so the user should decide whether this is diversified momentum or a concentrated bet on a small group of recent winners. — View fund → AltaRock Partners
AltaRock alpha 3.86%
The strongest recent period was 2023-06-30 (6.95% strategy return, -1.77% benchmark, 8.72% excess, 9.85% turnover), while the weakest was 2025-09-30 (-11.62% strategy return, 1.46% benchmark, -13.08% excess, 11.18% turnover). Those periods should be read alongside baseline metrics of return 18.44%, alpha 3.86%, beta 1.07, Sharpe 0.88, Sortino 1.12, and max drawdown -39.29% to judge whether returns came from persistent exposure or a narrow timing window. The selected value book has top 5 100.00%, top 10 100.00%, top 20 100.00%, versus baseline top 5 92.36%, top 10 100.01%, top 20 100.01%. Its largest positions are MSFT (Microsoft Corporation) 50.00%, and V 50.00%, so concentration risk still needs to be reviewed even if the names look cheaper. The combo basket is led by AMZN (Amazon.com, Inc.) 33.33%, MSFT (Microsoft Corporation) 33.33%, and GOOGL (Alphabet Inc.) 33.33%, with sector exposure of Consumer Discretionary 33.33%, Information Technology 33.33%, and Communication Services 33.33%. The latest change list shows GOOGL increase to 33.33%; MSFT increase to 33.33%; AMZN increase to 33.33%, so the user should inspect whether these are desirable active bets or just mechanical consequences of the screen. The current momentum book has top 5 100.00%, top 10 100.00%, top 20 100.00% and sector exposure of Consumer Discretionary 50.00%, and Communication Services 50.00%. Its leading holdings are HLT (Hilton Worldwide Holdings Inc.) 50.00%, and GOOGL (Alphabet Inc.) 50.00%, so the user should decide whether this is diversified momentum or a concentrated bet on a small group of recent winners. — View fund → Bill & Melinda Gates Foundation Trust
Bill Gates alpha 3.64%
The strongest recent period was 2024-12-31 (3.89% strategy return, -3.63% benchmark, 7.51% excess, 7.27% turnover), while the weakest was 2025-12-31 (-1.25% strategy return, 9.57% benchmark, -10.81% excess, 4.71% turnover). Those periods should be read alongside baseline metrics of return 14.77%, alpha 3.64%, beta 0.79, Sharpe 0.92, Sortino 1.18, and max drawdown -28.55% to judge whether returns came from persistent exposure or a narrow timing window. The selected value book has top 5 100.00%, top 10 100.00%, top 20 100.00%, versus baseline top 5 83.41%, top 10 96.49%, top 20 99.97%. Its largest positions are BRK.A (Berkshire Hathaway Inc.) 20.00%, FDX (FedEx Corporation) 20.00%, KOF (Coca-Cola FEMSA, S.A.B. de C.V.) 20.00%, and KHC (The Kraft Heinz Company) 20.00%, so concentration risk still needs to be reviewed even if the names look cheaper. The combo basket is led by MSFT (Microsoft Corporation) 50.00%, and WST (West Pharmaceutical Services, Inc.) 50.00%, with sector exposure of Information Technology 50.00%, and Health Care 50.00%. The latest change list shows WST increase to 50.00%; MSFT increase to 50.00%, so the user should inspect whether these are desirable active bets or just mechanical consequences of the screen. The current momentum book has top 5 100.00%, top 10 100.00%, top 20 100.00% and sector exposure of Industrials 80.00%, and Consumer Staples 20.00%. Its leading holdings are DE (Deere & Company) 20.00%, CAT (Caterpillar Inc.) 20.00%, FDX (FedEx Corporation) 20.00%, and KOF (Coca-Cola FEMSA, S.A.B. de C.V.) 20.00%, so the user should decide whether this is diversified momentum or a concentrated bet on a small group of recent winners. Combo Equal Screen changes structure by selecting MSFT (Microsoft Corporation) 50.00%, and WST (West Pharmaceutical Services, Inc.) 50.00%. That produces top 5 100.00%, top 10 100.00%, top 20 100.00% and sector exposure of Information Technology 50.00%, and Health Care 50.00%. Compared with baseline concentration of top 5 83.41%, top 10 96.49%, top 20 99.97%, this is less about copying original sizing and more about testing a cleaner rules-based basket. View fund → David Tepper · Appaloosa Management
David Tepper alpha 3.38%
The strongest recent period was 2025-06-30 (12.29% strategy return, 4.20% benchmark, 8.09% excess, 52.90% turnover), while the weakest was 2024-03-31 (-2.22% strategy return, 2.31% benchmark, -4.53% excess, 35.39% turnover). Those periods should be read alongside baseline metrics of return 17.44%, alpha 3.38%, beta 1.07, Sharpe 0.80, Sortino 1.08, and max drawdown -30.54% to judge whether returns came from persistent exposure or a narrow timing window. The selected value book has top 5 79.50%, top 10 99.99%, top 20 99.99%, versus baseline top 5 44.48%, top 10 66.68%, top 20 88.87%. Its largest positions are WHR (Whirlpool Corporation) 20.00%, PDD 20.00%, JD 14.94%, and OC (Owens Corning) 13.75%, so concentration risk still needs to be reviewed even if the names look cheaper. The combo basket is led by GOOGL (Alphabet Inc.) 11.11%, AMZN (Amazon.com, Inc.) 11.11%, MU (Micron Technology, Inc.) 11.11%, META (Meta Platforms, Inc.) 11.11%, and NVDA (NVIDIA Corporation) 11.11%, with sector exposure of Information Technology 44.44%, Communication Services 22.22%, Consumer Discretionary 22.22%, and Industrials 11.11%. The latest change list shows LRCX increase to 11.11%; UBER increase to 11.11%; PDD increase to 11.11%, so the user should inspect whether these are desirable active bets or just mechanical consequences of the screen. — Combo Equal Screen changes structure by selecting GOOGL (Alphabet Inc.) 11.11%, AMZN (Amazon.com, Inc.) 11.11%, MU (Micron Technology, Inc.) 11.11%, META (Meta Platforms, Inc.) 11.11%, NVDA (NVIDIA Corporation) 11.11%, UBER (Uber Technologies, Inc.) 11.11%, PDD 11.11%, and MSFT (Microsoft Corporation) 11.11%. That produces top 5 55.55%, top 10 99.99%, top 20 99.99% and sector exposure of Information Technology 44.44%, Communication Services 22.22%, Consumer Discretionary 22.22%, and Industrials 11.11%. Compared with baseline concentration of top 5 44.48%, top 10 66.68%, top 20 88.87%, this is less about copying original sizing and more about testing a cleaner rules-based basket. View fund → Chris Hohn · TCI Fund Management
Chris Hohn alpha 3.20%
The strongest recent period was 2024-09-30 (9.53% strategy return, 2.76% benchmark, 6.77% excess, 6.86% turnover), while the weakest was 2025-12-31 (0.81% strategy return, 9.57% benchmark, -8.76% excess, 9.56% turnover). Those periods should be read alongside baseline metrics of return 16.42%, alpha 3.20%, beta 0.97, Sharpe 0.84, Sortino 1.10, and max drawdown -34.39% to judge whether returns came from persistent exposure or a narrow timing window. The selected value book has top 5 100.00%, top 10 100.00%, top 20 100.00%, versus baseline top 5 95.02%, top 10 100.00%, top 20 100.00%. Its largest positions are MSFT (Microsoft Corporation) 100.00%, so concentration risk still needs to be reviewed even if the names look cheaper. The combo basket is led by GOOGL (Alphabet Inc.) 50.00%, and MSFT (Microsoft Corporation) 50.00%, with sector exposure of Communication Services 50.00%, and Information Technology 50.00%. The latest change list shows GOOGL increase to 50.00%; MSFT increase to 50.00%, so the user should inspect whether these are desirable active bets or just mechanical consequences of the screen. The current momentum book has top 5 100.00%, top 10 100.00%, top 20 100.00% and sector exposure of Communication Services 100.00%. Its leading holdings are GOOGL (Alphabet Inc.) 100.00%, so the user should decide whether this is diversified momentum or a concentrated bet on a small group of recent winners. — View fund → azValor Asset Management SGIIC, S.A.U.
azValor Asset Management SGIIC, S.A.U alpha 3.13%
The strongest recent period was 2025-09-30 (37.12% strategy return, 1.46% benchmark, 35.66% excess, 6.04% turnover), while the weakest was 2024-03-31 (-7.42% strategy return, 2.31% benchmark, -9.73% excess, 7.35% turnover). Those periods should be read alongside baseline metrics of return 9.66%, alpha 3.13%, beta 0.62, Sharpe 0.50, Sortino 0.68, and max drawdown -42.41% to judge whether returns came from persistent exposure or a narrow timing window. The selected value book has top 5 52.52%, top 10 69.71%, top 20 100.02%, versus baseline top 5 81.11%, top 10 95.44%, top 20 97.24%. Its largest positions are RIG (Transocean Ltd.) 20.00%, TDW (Tidewater Inc.) 20.00%, ALGT (Allegiant Travel Company) 4.29%, and BABA (Alibaba Group Holding Limited) 4.14%, so concentration risk still needs to be reviewed even if the names look cheaper. The combo basket is led by NEM (Newmont Corporation) 16.67%, WSO (Watsco, Inc.) 16.67%, SEIC (SEI Investments Company) 16.67%, FCX (Freeport-McMoRan Inc.) 16.67%, and PDD 16.67%, with sector exposure of Materials 33.34%, Consumer Discretionary 33.34%, Industrials 16.67%, and Financials 16.67%. The latest change list shows NEM increase to 16.67%; WSO increase to 16.67%; SEIC increase to 16.67%, so the user should inspect whether these are desirable active bets or just mechanical consequences of the screen. The current momentum book has top 5 77.64%, top 10 90.07%, top 20 100.01% and sector exposure of Energy 88.85%, Industrials 3.98%, Real Estate 2.08%, and Materials 1.97%. Its leading holdings are NE (Noble Corporation plc) 20.00%, SLB 20.00%, NOV 16.85%, and RIG (Transocean Ltd.) 12.53%, so the user should decide whether this is diversified momentum or a concentrated bet on a small group of recent winners. — View fund → Valley Forge Capital Management
Valley Forge Capital Management alpha 3.13%
The strongest recent period was 2024-03-31 (12.83% strategy return, 2.31% benchmark, 10.52% excess, 6.34% turnover), while the weakest was 2025-03-31 (-10.39% strategy return, 9.22% benchmark, -19.61% excess, 17.11% turnover). Those periods should be read alongside baseline metrics of return 17.36%, alpha 3.13%, beta 1.12, Sharpe 0.76, Sortino 0.98, and max drawdown -40.05% to judge whether returns came from persistent exposure or a narrow timing window. The selected value book has top 5 100.00%, top 10 100.00%, top 20 100.00%, versus baseline top 5 95.02%, top 10 99.99%, top 20 99.99%. Its largest positions are EFX (Equifax Inc.) 50.00%, and V 50.00%, so concentration risk still needs to be reviewed even if the names look cheaper. The combo basket is led by INTU (Intuit Inc.) 100.00%, with sector exposure of Information Technology 100.00%. The latest change list shows INTU increase to 100.00%, so the user should inspect whether these are desirable active bets or just mechanical consequences of the screen. The current momentum book has top 5 100.00%, top 10 100.00%, top 20 100.00% and sector exposure of Financials 100.00%. Its leading holdings are MA (Mastercard Incorporated) 50.00%, and MSCI 50.00%, so the user should decide whether this is diversified momentum or a concentrated bet on a small group of recent winners. Combo Equal Screen changes structure by selecting INTU (Intuit Inc.) 100.00%. That produces top 5 100.00%, top 10 100.00%, top 20 100.00% and sector exposure of Information Technology 100.00%. Compared with baseline concentration of top 5 95.02%, top 10 99.99%, top 20 99.99%, this is less about copying original sizing and more about testing a cleaner rules-based basket. View fund → Top 20 US Stocks
iShares alpha 2.87%
The strongest recent period was 2026-03-31 (11.54% strategy return, 9.42% benchmark, 2.12% excess, 17.86% turnover), while the weakest was 2025-12-31 (-1.47% strategy return, 1.47% benchmark, -2.94% excess, 9.12% turnover). Those periods should be read alongside baseline metrics of return 25.14%, alpha 2.87%, beta 1.10, Sharpe 1.20, Sortino 1.65, and max drawdown -21.61% to judge whether returns came from persistent exposure or a narrow timing window. — The combo basket is led by NVDA (NVIDIA Corporation) 12.50%, GOOGL (Alphabet Inc.) 12.50%, MSFT (Microsoft Corporation) 12.50%, AMZN (Amazon.com, Inc.) 12.50%, and COST (Costco Wholesale Corporation) 12.50%, with sector exposure of Information Technology 37.50%, Communication Services 25.00%, Consumer Discretionary 12.50%, and Consumer Staples 12.50%. The latest change list shows COST increase to 12.50%; JPM increase to 12.50%; MU increase to 12.50%, so the user should inspect whether these are desirable active bets or just mechanical consequences of the screen. The current momentum book has top 5 100.00%, top 10 100.00%, top 20 100.00% and sector exposure of Information Technology 40.00%, Communication Services 20.00%, Consumer Staples 20.00%, and Energy 20.00%. Its leading holdings are GOOGL (Alphabet Inc.) 20.00%, AVGO (Broadcom Inc.) 20.00%, MU (Micron Technology, Inc.) 20.00%, and WMT (Walmart Inc.) 20.00%, so the user should decide whether this is diversified momentum or a concentrated bet on a small group of recent winners. — View fund → Pat Dorsey · Dorsey Asset Management
Pat Dorsey alpha 2.59%
The strongest recent period was 2024-09-30 (10.41% strategy return, 2.76% benchmark, 7.65% excess, 15.73% turnover), while the weakest was 2024-06-30 (5.40% strategy return, 9.83% benchmark, -4.43% excess, 11.27% turnover). Those periods should be read alongside baseline metrics of return 11.86%, alpha 2.59%, beta 0.73, Sharpe 0.67, Sortino 0.89, and max drawdown -48.36% to judge whether returns came from persistent exposure or a narrow timing window. — The combo basket is led by GOOGL (Alphabet Inc.) 50.00%, and META (Meta Platforms, Inc.) 50.00%, with sector exposure of Communication Services 100.00%. The latest change list shows GOOGL increase to 50.00%; META increase to 50.00%, so the user should inspect whether these are desirable active bets or just mechanical consequences of the screen. The current momentum book has top 5 100.00%, top 10 100.00%, top 20 100.00% and sector exposure of Communication Services 50.00%, and Health Care 50.00%. Its leading holdings are GOOGL (Alphabet Inc.) 50.00%, and RPRX (Royalty Pharma plc) 50.00%, so the user should decide whether this is diversified momentum or a concentrated bet on a small group of recent winners. Combo Equal Screen changes structure by selecting GOOGL (Alphabet Inc.) 50.00%, and META (Meta Platforms, Inc.) 50.00%. That produces top 5 100.00%, top 10 100.00%, top 20 100.00% and sector exposure of Communication Services 100.00%. Compared with baseline concentration of top 5 64.42%, top 10 100.01%, top 20 100.01%, this is less about copying original sizing and more about testing a cleaner rules-based basket. View fund → Christopher Bloomstran · Semper Augustus
Christopher Bloomstran alpha 2.55%
— The selected value book has top 5 83.58%, top 10 100.00%, top 20 100.00%, versus baseline top 5 60.91%, top 10 85.46%, top 20 98.67%. Its largest positions are BRK.A (Berkshire Hathaway Inc.) 20.00%, NEM (Newmont Corporation) 20.00%, OLN (Olin Corporation) 17.98%, and VLO (Valero Energy Corporation) 15.85%, so concentration risk still needs to be reviewed even if the names look cheaper. — The current momentum book has top 5 82.17%, top 10 100.00%, top 20 100.00% and sector exposure of Consumer Staples 40.00%, Industrials 21.02%, Materials 20.00%, and Energy 9.72%. Its leading holdings are DG (Dollar General Corporation) 20.00%, DLTR (Dollar Tree, Inc.) 20.00%, NEM (Newmont Corporation) 20.00%, and CMI (Cummins Inc.) 12.45%, so the user should decide whether this is diversified momentum or a concentrated bet on a small group of recent winners. Combo Equal Screen changes structure by selecting DECK (Deckers Outdoor Corporation) 14.29%, NEM (Newmont Corporation) 14.29%, SYF (Synchrony Financial) 14.29%, GOOGL (Alphabet Inc.) 14.29%, GEV (GE Vernova Inc.) 14.29%, COST (Costco Wholesale Corporation) 14.29%, and TRV (The Travelers Companies, Inc.) 14.29%. That produces top 5 71.45%, top 10 100.03%, top 20 100.03% and sector exposure of Financials 28.58%, Consumer Discretionary 14.29%, Materials 14.29%, and Communication Services 14.29%. Compared with baseline concentration of top 5 60.91%, top 10 85.46%, top 20 98.67%, this is less about copying original sizing and more about testing a cleaner rules-based basket. View fund → Viking Global Investors
Viking Global Investors alpha 2.27%
— The selected value book has top 5 55.22%, top 10 79.10%, top 20 100.00%, versus baseline top 5 21.68%, top 10 37.60%, top 20 59.97%. Its largest positions are PNC 14.00%, SCHW (The Charles Schwab Corporation) 12.74%, DIS (The Walt Disney Company) 11.71%, and FTV (Fortive Corporation) 9.77%, so concentration risk still needs to be reviewed even if the names look cheaper. — — Combo Equal Screen changes structure by selecting MSFT (Microsoft Corporation) 14.29%, JPM 14.29%, AMZN (Amazon.com, Inc.) 14.29%, GOOGL (Alphabet Inc.) 14.29%, WST (West Pharmaceutical Services, Inc.) 14.29%, PGR (The Progressive Corporation) 14.29%, and SE (Sea Limited) 14.29%. That produces top 5 71.45%, top 10 100.03%, top 20 100.03% and sector exposure of Financials 28.58%, Consumer Discretionary 28.58%, Information Technology 14.29%, and Communication Services 14.29%. Compared with baseline concentration of top 5 21.68%, top 10 37.60%, top 20 59.97%, this is less about copying original sizing and more about testing a cleaner rules-based basket. View fund → Fairholme Funds, Inc. - The Fairholme Focused Income Fund
Fairholme Funds alpha 1.98%
The strongest recent period was 2025-09-30 (11.34% strategy return, 1.46% benchmark, 9.88% excess, 10.31% turnover), while the weakest was 2025-03-31 (0.63% strategy return, 9.22% benchmark, -8.59% excess, 10.69% turnover). Those periods should be read alongside baseline metrics of return 8.34%, alpha 1.98%, beta 0.56, Sharpe 0.49, Sortino 0.71, and max drawdown -35.36% to judge whether returns came from persistent exposure or a narrow timing window. The selected value book has top 5 100.00%, top 10 100.00%, top 20 100.00%, versus baseline top 5 97.48%, top 10 100.00%, top 20 100.00%. Its largest positions are OZK 50.00%, and EOG 50.00%, so concentration risk still needs to be reviewed even if the names look cheaper. — The current momentum book has top 5 100.00%, top 10 100.00%, top 20 100.00% and sector exposure of Energy 50.00%, and Consumer Staples 50.00%. Its leading holdings are XOM (Exxon Mobil Corporation) 50.00%, and TGT (Target Corporation) 50.00%, so the user should decide whether this is diversified momentum or a concentrated bet on a small group of recent winners. Combo Equal Screen changes structure by selecting CF 33.33%, WRB (W. R. Berkley Corporation) 33.33%, and EOG 33.33%. That produces top 5 99.99%, top 10 99.99%, top 20 99.99% and sector exposure of Materials 33.33%, Financials 33.33%, and Energy 33.33%. Compared with baseline concentration of top 5 97.48%, top 10 100.00%, top 20 100.00%, this is less about copying original sizing and more about testing a cleaner rules-based basket. View fund → Howard Marks · Oaktree Capital Management
Howard Marks alpha 1.91%
The strongest recent period was 2021-12-31 (10.99% strategy return, -5.97% benchmark, 16.96% excess, 12.55% turnover), while the weakest was 2024-06-30 (3.57% strategy return, 12.13% benchmark, -8.57% excess, 15.94% turnover). Those periods should be read alongside baseline metrics of return 6.92%, alpha 1.91%, beta 0.39, Sharpe 0.56, Sortino 0.58, and max drawdown -45.31% to judge whether returns came from persistent exposure or a narrow timing window. — The combo basket is led by AU (AngloGold Ashanti plc) 50.00%, and SE (Sea Limited) 50.00%, with sector exposure of Materials 50.00%, and Consumer Discretionary 50.00%. The latest change list shows SE increase to 50.00%; AU decrease to 50.00%, so the user should inspect whether these are desirable active bets or just mechanical consequences of the screen. The current momentum book has top 5 100.00%, top 10 100.00%, top 20 100.00% and sector exposure of Materials 25.00%, Health Care 25.00%, Real Estate 25.00%, and Consumer Discretionary 25.00%. Its leading holdings are AU (AngloGold Ashanti plc) 25.00%, INDV (Indivior Pharmaceuticals, Inc.) 25.00%, CBL 25.00%, and JD 25.00%, so the user should decide whether this is diversified momentum or a concentrated bet on a small group of recent winners. Combo Equal Screen changes structure by selecting AU (AngloGold Ashanti plc) 50.00%, and SE (Sea Limited) 50.00%. That produces top 5 100.00%, top 10 100.00%, top 20 100.00% and sector exposure of Materials 50.00%, and Consumer Discretionary 50.00%. Compared with baseline concentration of top 5 96.28%, top 10 99.31%, top 20 100.02%, this is less about copying original sizing and more about testing a cleaner rules-based basket. View fund → John Armitage · Egerton Capital
John Armitage alpha 1.79%
The strongest recent period was 2024-06-30 (16.65% strategy return, 9.83% benchmark, 6.82% excess, 32.91% turnover), while the weakest was 2025-03-31 (4.64% strategy return, 9.22% benchmark, -4.58% excess, 40.92% turnover). Those periods should be read alongside baseline metrics of return 15.62%, alpha 1.79%, beta 1.01, Sharpe 0.84, Sortino 1.06, and max drawdown -33.94% to judge whether returns came from persistent exposure or a narrow timing window. The selected value book has top 5 100.00%, top 10 100.00%, top 20 100.00%, versus baseline top 5 47.00%, top 10 75.24%, top 20 100.01%. Its largest positions are DVN (Devon Energy Corporation) 20.00%, CRH 20.00%, UBER (Uber Technologies, Inc.) 20.00%, and ACGL (Arch Capital Group Ltd.) 20.00%, so concentration risk still needs to be reviewed even if the names look cheaper. The combo basket is led by CRS (Carpenter Technology Corporation) 14.29%, UBER (Uber Technologies, Inc.) 14.29%, NVDA (NVIDIA Corporation) 14.29%, AMZN (Amazon.com, Inc.) 14.29%, and NYT (The New York Times Company) 14.29%, with sector exposure of Industrials 28.58%, Financials 28.58%, Information Technology 14.29%, and Consumer Discretionary 14.29%. The latest change list shows NYT increase to 14.29%; RNR increase to 14.29%; ACGL increase to 14.29%, so the user should inspect whether these are desirable active bets or just mechanical consequences of the screen. — Combo Equal Screen changes structure by selecting CRS (Carpenter Technology Corporation) 14.29%, UBER (Uber Technologies, Inc.) 14.29%, NVDA (NVIDIA Corporation) 14.29%, AMZN (Amazon.com, Inc.) 14.29%, NYT (The New York Times Company) 14.29%, ACGL (Arch Capital Group Ltd.) 14.29%, and RNR (RenaissanceRe Holdings Ltd.) 14.29%. That produces top 5 71.45%, top 10 100.03%, top 20 100.03% and sector exposure of Industrials 28.58%, Financials 28.58%, Information Technology 14.29%, and Consumer Discretionary 14.29%. Compared with baseline concentration of top 5 47.00%, top 10 75.24%, top 20 100.01%, this is less about copying original sizing and more about testing a cleaner rules-based basket. View fund → 