Executive Summary

The portfolio is unchanged from the April 12 report — same 50 holdings, same weights, same factor exposures. The posture remains a Quality/Buybacks tilt (+1.21σ and +1.67σ respectively) with modest Value and Momentum overlays, concentrated at the sector cap in Financials and Information Technology.

Factor Movement Since Prior Report

  • Zero turnover and zero weight deltas across the 6-day window; this report is effectively a snapshot of the post-rebalance state from April 12.
  • Factor exposures held flat to two decimals — Quality (+1.21σ), Buybacks (+1.67σ), Value (+0.33σ), Momentum (+0.22σ) all unchanged.
  • Sector allocations also static: Financials and IT pinned at the 25% cap, Consumer Staples at 11.5%, Communication Services at 5.3%.
  • Top 10 composition and ordering identical, with GDDY still at the 4.52% single-stock ceiling.

Notes

The lack of any drift over six calendar days is unusual and likely reflects a stale price feed or a report generated against the same underlying data as April 12 rather than genuine market quiescence — worth verifying the data pipeline before drawing conclusions from the next run.

Full Technical Report

Portfolio Summary

  • Holdings: 50
  • Effective N: 44.9
  • Max single-stock weight: 4.52%
  • Min single-stock weight: 1.12%

Top 10 Holdings

| Rank | Symbol | Sector | Weight | Composite Score | |——|——–|——–|——–|—————–| | 1 | GDDY | Information Technology | 4.5% | +0.9243 | | 2 | CHTR | Communication Services | 3.5% | +0.6798 | | 3 | IT | Information Technology | 3.4% | +0.6959 | | 4 | ADBE | Information Technology | 3.0% | +0.6106 | | 5 | CL | Consumer Staples | 2.8% | +0.5351 | | 6 | SNDK | Information Technology | 2.8% | +0.5625 | | 7 | CLX | Consumer Staples | 2.6% | +0.5108 | | 8 | NTAP | Information Technology | 2.6% | +0.5344 | | 9 | HPQ | Information Technology | 2.5% | +0.5149 | | 10 | IVZ | Financials | 2.5% | +0.7133 |

Factor Exposures

| Factor | Portfolio Exposure | Change vs Prior | |——–|——————-|—————–| | Value (P/FCF) | +0.33s | +0.00s | | Momentum (12m) | +0.22s | +0.00s | | Quality (ROE) | +1.21s | +0.00s | | Buybacks | +1.67s | +0.00s | | low_volatility | -0.06s | +0.00s | | earnings_momentum | +0.00s | +0.00s | | eps_dispersion | +0.00s | +0.00s |

Sector Allocation

| Sector | Weight | Change | |——–|——–|——–| | Financials | 25.0% | +0.0% | | Information Technology | 25.0% | +0.0% | | Consumer Discretionary | 16.0% | +0.0% | | Consumer Staples | 11.5% | +0.0% | | Industrials | 7.4% | +0.0% | | Health Care | 5.6% | +0.0% | | Communication Services | 5.3% | +0.0% | | Real Estate | 2.5% | +0.0% | | Materials | 1.8% | +0.0% |

Drift Analysis

  • Turnover: 0.0%
  • Stocks added: None
  • Stocks removed: None
  • Stocks retained: 50

Top Weight Changes

| Symbol | Old Weight | New Weight | Delta | |——–|———–|————|——-| | AAPL | 2.23% | 2.23% | +0.00% | | ACGL | 1.20% | 1.20% | +0.00% | | ADBE | 2.99% | 2.99% | +0.00% | | AFL | 1.14% | 1.14% | +0.00% | | AIG | 2.20% | 2.20% | +0.00% | | AMP | 1.18% | 1.18% | +0.00% | | BALL | 1.81% | 1.81% | +0.00% | | C | 1.17% | 1.17% | +0.00% | | CHTR | 3.52% | 3.52% | +0.00% | | CL | 2.77% | 2.77% | +0.00% |

Rebalancing Suggestions

No rebalancing needed. Turnover is minimal.