Baseline
Track disclosed holdings with the standard reporting lag and no active reweighting.
AI Summary
Low-beta, concentrated large-value mix with modest absolute returns, positive alpha, and weak SPY-relative consistency.
Portfolio Snapshot
Current optimized weights for the selected default session.
| Symbol | Name | Sector | Weight | Diff |
|---|---|---|---|---|
| RBC | RBC Bearings Incorporated | Industrials | 10.72% | 0 |
| DASH | DoorDash, Inc. | Consumer Discretionary | 8.27% | 0 |
| MELI | MercadoLibre, Inc. | Consumer Discretionary | 6.32% | 0 |
| CPNG | Coupang, Inc. | Consumer Discretionary | 5.88% | 0 |
| APG | APi Group Corporation | Industrials | 5.86% | 0 |
| XPO | XPO, Inc. | Industrials | 5.47% | 0 |
| FOUR | Shift4 Payments, Inc. | Financials | 4.25% | 0 |
| CVNA | Carvana Co. | Consumer Discretionary | 3.98% | 0 |
| FERG | Ferguson Enterprises Inc. | Industrials | 3.55% | 0 |
| RKT | Rocket Companies, Inc. | Financials | 3.45% | 0 |
| SHOP | Shopify Inc. | Information Technology | 3.35% | 0 |
| AYI | Acuity Inc. | Industrials | 2.99% | 0 |
| MDLN | Medline Inc. | Health Care | 2.96% | 0 |
| PRVA | Privia Health Group, Inc. | Health Care | 2.92% | 0 |
| AFRM | Affirm Holdings, Inc. | Financials | 2.80% | 0 |
| OPCH | Option Care Health, Inc. | Health Care | 2.68% | 0 |
| Q | Qnity Electronics, Inc. | Information Technology | 2.33% | 0 |
| VEEV | Veeva Systems Inc. | Health Care | 2.17% | 0 |
| ULS | UL Solutions Inc. | Industrials | 2.06% | 0 |
| CLH | Clean Harbors, Inc. | Industrials | 2.00% | 0 |
Sector Exposure
- Industrials35.48%
- Consumer Discretionary28.73%
- Financials12.50%
- Health Care11.99%
- Information Technology10.37%
- Communication Services0.96%
Weight Changes
Notable position adjustments in the latest snapshot.
Performance vs Benchmark
Strategy NAV vs benchmark — hover for exact values.
Alpha Trend
Excess return vs benchmark over time.
Drawdown Trend
Underwater curve and peak drawdown marker.
Turnover Trend
Per-period turnover with average reference.
Strategy Comparison
All four default strategies side-by-side.
| Strategy | Annualized | Alpha | Sharpe | Max DD |
|---|---|---|---|---|
| Baseline | 5.85% | 1.81% | 0.64 | -18.12% |
| Momentum Screen | 6.36% | 0.77% | 0.46 | -32.87% |
| Basic Value Screen | 15.25% | 6.95% | 0.82 | -34.89% |
| Combo Equal Screen | 8.90% | 2.39% | 0.48 | -39.03% |
Recent Periods
Per-period performance vs benchmark.
| Period | Strategy | Benchmark | Excess | Turnover | Trades |
|---|---|---|---|---|---|
| 2022-12-31 | -0.85% | -0.25% | -0.59 | 16.63 | 19 |
| 2023-03-31 | 6.93% | 7.90% | -0.97 | 13.74 | 20 |
| 2023-06-30 | -1.32% | -1.77% | +0.45 | 16.55 | 21 |
| 2023-09-30 | 6.34% | 10.11% | -3.76 | 7.96 | 20 |
| 2023-12-31 | -3.98% | 4.96% | -8.94 | 13.41 | 22 |
| 2024-03-31 | -1.41% | 2.31% | -3.72 | 8.69 | 21 |
| 2024-06-30 | 7.66% | 9.83% | -2.17 | 17.22 | 22 |
| 2024-09-30 | -1.97% | 2.76% | -4.73 | 21.07 | 20 |
| 2024-12-31 | -0.68% | -3.63% | +2.95 | 17.08 | 15 |
| 2025-03-31 | 2.74% | 9.22% | -6.48 | 16.19 | 16 |
| 2025-06-30 | -1.46% | 4.20% | -5.66 | 16.12 | 13 |
| 2025-09-30 | 1.63% | 1.49% | +0.14 | 11.88 | 13 |
Strategy Q&A
Pre-generated questions and answers about this strategy.
- baseline13FChat AI
What does directly following the disclosed baseline portfolio expose an investor to?
Directly following the baseline exposes an investor to a concentrated portfolio with low market beta but meaningful single-name and sector dependence. The top 5 holdings are 37.05%, the top 10 are 57.75%, and the top 20 are 84.01%, with RBC alone at 10.72%, DASH at 8.27%, and MELI at 6.32%. Sector exposure is concentrated in Industrials (35.48%) and Consumer Discretionary (28.73%), with another 12.5% in Financials. Even with beta of just 0.31, the baseline still experienced a -18.12% max drawdown, 375 recovery days, 403 trades overall, and 0.7054 in estimated total cost, so the low-beta profile does not remove concentration and filing-lag risk.
strategyViews.baseline.topHoldingsstrategyViews.baseline.concentrationstrategyViews.baseline.sectorWeightsstrategyViews.baseline.metricsstrategyViews.baseline.riskNotes↳ Can you stress-test the baseline by showing what happens if the top 3 holdings underperform the rest of the book?
- baseline13FChat AI
Which recent baseline periods best explain the risk-return trade-off?
The recent baseline trade-off is explained by a mix of defensive downside periods and weak upside capture. Positive relative periods included 2024-12-31, when the baseline returned -0.68% versus SPY at -3.63% for +2.95% excess, and 2025-09-30, when it returned 1.63% versus 1.49% for +0.14% excess. But several growth-led periods show the cost of low beta and concentration: 2023-12-31 returned -3.98% versus SPY +4.96% (-8.94% excess), 2025-03-31 returned 2.74% versus 9.22% (-6.48% excess), and 2025-06-30 returned -1.46% versus 4.20% (-5.66% excess). Turnover was also elevated in some weak periods, such as 21.07 at 2024-09-30 and 17.22 at 2024-06-30, reinforcing that trading activity did not consistently produce upside capture.
strategyViews.baseline.periodPerformancestrategyViews.baseline.metrics↳ Can you separate the recent baseline periods into defensive wins versus growth-lagging quarters and tie them back to holdings?
- baseline13FChat AI
What should a user inspect next before deciding whether the baseline is acceptable?
A user should inspect three things next: concentration, sector dependence, and the lagged quarterly pattern. Concentration is high, with top 10 holdings at 57.75% and top 20 at 84.01%, so the next check should be whether names like RBC, DASH, MELI, CPNG, and APG reflect risks you actually want. Sector concentration is also meaningful, with Industrials at 35.48% and Consumer Discretionary at 28.73%, which together make up 64.21% of the baseline. Finally, inspect the period-level record, especially the weak SPY-relative quarters like 2023-12-31 (-8.94% excess), 2025-03-31 (-6.48%), and 2025-06-30 (-5.66%), because the baseline summary already flags weak benchmark consistency despite positive alpha.
strategyViews.baseline.concentrationstrategyViews.baseline.sectorWeightsstrategyViews.baseline.periodPerformancestrategyViews.baseline.summary↳ Can you walk me through whether the baseline’s weak SPY-relative quarters came from sector allocation, top holdings, or the 13F reporting lag?
Other strategies for this fund
Momentum Screen
Select holdings by historically observable momentum, targeting roughly one quarter of each period's original member count and no more than 20 names; when a period has over 100 members, pre-rank to the top 50 first.
Basic Value Screen
Select holdings using PE, PB, P/FCF, and EV/EBITDA, targeting roughly one quarter of each period's original member count and no more than 20 names; when a period has over 100 members, pre-rank to the top 50 first.
Combo Equal Screen
Filter for large-cap, quality, and low-leverage holdings, rank by composite quality/value/size score, keep the top 20 names, and equal-weight the selected names.