Baseline
Track disclosed holdings with the standard reporting lag and no active reweighting.
AI Summary
High-return small-cap growth profile, but current results hinge on an extreme CVNA-driven concentration bet.
Portfolio Snapshot
Current optimized weights for the selected default session.
| Symbol | Name | Sector | Weight | Diff |
|---|---|---|---|---|
| CVNA | Carvana Co. | Consumer Discretionary | 83.25% | 0 |
| HGV | Hilton Grand Vacations Inc. | Consumer Discretionary | 10.18% | 0 |
| COF | Capital One Financial Corporation | Financials | 6.05% | 0 |
| CDLX | Cardlytics, Inc. | Communication Services | 0.26% | 0 |
| SWIM | Latham Group, Inc. | Consumer Discretionary | 0.26% | 0 |
Sector Exposure
- Consumer Discretionary93.69%
- Financials6.05%
- Communication Services0.26%
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 | 32.42% | 23.07% | 0.93 | -66.04% |
| Momentum Screen | 72.38% | 59.04% | 1.09 | -73.34% |
| Basic Value Screen | -9.78% | -4.74% | 0.27 | -98.99% |
| Combo Equal Screen | 17.94% | 12.36% | 0.89 | -46.49% |
Recent Periods
Per-period performance vs benchmark.
| Period | Strategy | Benchmark | Excess | Turnover | Trades |
|---|---|---|---|---|---|
| 2022-12-31 | -0.94% | -0.25% | -0.69 | 19.98 | 2 |
| 2023-03-31 | 37.40% | 7.90% | +29.50 | 9.78 | 2 |
| 2023-06-30 | -8.13% | -1.77% | -6.36 | 10.63 | 2 |
| 2023-09-30 | 21.67% | 10.11% | +11.57 | 15.57 | 2 |
| 2023-12-31 | 52.59% | 4.96% | +47.63 | 9.68 | 2 |
| 2024-03-31 | 9.75% | 2.31% | +7.44 | 15.29 | 2 |
| 2024-06-30 | 46.46% | 9.83% | +36.63 | 9.88 | 2 |
| 2024-09-30 | 10.24% | 2.76% | +7.48 | 1.97 | 2 |
| 2024-12-31 | 5.09% | -3.63% | +8.72 | 0.92 | 2 |
| 2025-03-31 | 14.12% | 9.22% | +4.90 | 0.87 | 2 |
| 2025-06-30 | -5.70% | 4.20% | -9.90 | 2.76 | 2 |
| 2025-09-30 | 27.43% | 1.49% | +25.95 | 4.87 | 2 |
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?
Following the baseline means accepting an extremely top-heavy portfolio with almost total dependence on CVNA. In the strategy artifact, CVNA is 83.25%, HGV 10.18%, and COF 6.05%, while the top 5 make up 100.0% of assets. Sector exposure is 93.69% Consumer Discretionary, 6.05% Financials, and 0.26% Communication Services. The reward has been high, with 32.42% annualized return and 23.07 alpha, but the cost is a -66.04% max drawdown and explicit filing-lag risk noted in the baseline risk notes.
strategyViews.baseline.topHoldingsstrategyViews.baseline.concentrationstrategyViews.baseline.sectorWeightsstrategyViews.baseline.metricsstrategyViews.baseline.riskNotes↳ Ask whether the baseline’s top-heavy structure was consistently this concentrated or only became extreme in recent periods.
- baseline13FChat AI
Which recent baseline periods best explain the risk-return trade-off?
Three recent periods capture the trade-off well. First, 2023-12-31 gained 52.59% versus SPY's 4.96%, a +47.63 excess return, showing the upside when the core thesis works. Second, 2024-06-30 gained 46.46% versus 9.83%, another +36.63 excess. But the downside is visible in 2025-06-30, when the baseline lost -5.70% versus SPY's +4.20%, a -9.90 excess return. Turnover in those periods was moderate to low at 9.68, 9.88, and 2.76 respectively, so the result was driven more by holdings than by heavy trading.
strategyViews.baseline.periodPerformance↳ Ask for a ranking of the best and worst baseline quarters by excess return and the holdings that dominated each period.
- baseline13FChat AI
What should a user inspect next before deciding whether the baseline is acceptable?
A user should inspect concentration, drawdown path, and turnover together. The baseline top holding is 83.25%, top 5 concentration is 100.0%, and max drawdown reached -66.04%. RecoveryDays is 339, showing that losses were not brief. It also helps to review quarterly path dependence: the baseline risk notes mention only 32 periods and 53 trades, which means a small number of episodes may explain a large part of the backtest outcome.
strategyViews.baseline.topHoldingsstrategyViews.baseline.concentrationstrategyViews.baseline.metrics.maxDrawdownriskMetrics.recoveryDaysstrategyViews.baseline.riskNotes↳ Ask for the exact drawdown dates, recovery timeline, and whether a lower concentration cap would have changed the baseline outcome materially.
이 펀드의 다른 전략
모멘텀 스크린
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.
기본 가치 스크린
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.
콤보 동일 스크린
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.