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Biotech Long-Only Composite Leads With A YTD Of 28%

New York (HedgeCo.net) – Looking at the composite models and the changes that were made during the week from June 11 through June 18, we saw lots of changes in the top five positions in the models, but there were only a few notable changes in the allocation percentages.

Among the long-only models, four out of the five models saw at least three of their top five holdings change with the Biotech long-only model being the exception. In terms of allocation percentages, the only notable change was in the Index long-only model where we saw an increase from 7.8% to 8.7% for the internet sector.

Model Breakdown Top Holdings YTD Return New to Top 5 Out of Top 5
HedgeCoVest Biotech L 54% Biotech, 46% Pharma SNTA, EXAS, GILD, TEVA, BMY 28.10% TEVA, BMY UTHR, ABC
HedgeCoVest Index L 13% Software, 9.3% Div Financial, 8.7% Internet, 7.0% Telecom, 6.3% Retail SNTA, OIIM, SZMK, IDSY, LPSN 6.50% SZMK, IDSY, LPSN NMRX, SAAS, AGNC
HedgeCoVest Technology L 53% Soft., 24% Semis, 20% Hardware OIIM, SAAS, LPSN, MU, FISV 7.29% LPSN, MU, FISV SEAC, EMC, SNCR
HedgeCoVest Energy and Utilities L 42% Electric, 33% Oil & Gas, 17% Alt Energy, 8.5% Pipelines CQP, PEG, ED, XEL, APA 0.55% CQP, ED, APA SUNE, MRO, ETR
HedgeCoVest Industrial L 38.5% Electronics, 23% Aero/Defense, 16% Metal Fab., 7.8% Machinery, 7.7% Eng & Construction MWA, SANM, AGCO, FLIR, SNHY -1.71% MWA, SANM, FLIR JBL, LMT, LLL

Among the long-short models, there wasn’t as much turnover in the top five holdings among the models like we saw in the long-only models, but there were two areas with a fair amount of turnover. The Biotech long/short model saw three of the top five holdings on the long side change while the Technology long/short model saw three of the top five short holdings change. The one notable allocation change was that the semiconductors continue to see the short allocation percentage increase in the Technology long/short model.

Model Bullish Breakdown Bearish Breakdown Skew Top Longs Top Shorts YTD Return
HedgeCoVest Biotech LS Biotech 54%, Pharma 46% 50% Biotech, 50% Pharma Bullish SNTA, TEVA, EXAS, ICPT, BMY ESRX, MYGN 21.79%
HedgeCoVest Technology LS 39% SoWare, 31% Semis, 26% Hwre 42.3% Semis, 31.3% Hwre, 26% SoWare Slight Bullish OIIM, LPSN, MU, FISV, MODN CARB, OPWR, FSLR, SWKS, CDNS 3.20%
HedgeCoVest Basic Materials LS 51% Chem, 49% Telecomm 66% Chem, 22% Mining, 11% Steel Bearish PPG, ALU ATI, FMC, DD, FCX, CE -3.55%
HedgeCoVest Energy and Utilities LS 42% Elec, 33% Oil & Gas, 16.6% Alt 50% Oil & Gas, 25% Elec Slight Bearish PEG, ED, XEL, CQP, APA HES, CMS, SO, TSO, TE 0.91%

The short-only models saw considerable turnover in the top five holdings, but saw very little in the way of allocation percentage changes. All of the models saw at least three of the top five holdings change and the Industrial short-only model saw all five of the top five positions change.

Model Breakdown Top Sells YTD Return New to Top 5 Out of Top 5
HedgeCoVest Index S 12% Retail, 6.5% Banks, 5.8% Semis, 5.1% Transportation, 5.0% Internet ORBC, LEN, Z, CARB, DHI -2.94% ORBC, LEN, CARB, DHI HES, NVDA, CSX, F
HedgeCoVest Basic Materials S 66% Chemicals, 22% Mining, 11% Iron/Steel ATI, CE, APD, AA, DD 0.24% ATI, CE, APD MON, FCX, FMC
HedgeCoVest Financials S 45% Banks, 30.1% Insurance, 25% Div Financials FITB, BEN, BBT, CFR, SCHW -5.19% FITB, BEN, CFR, RF, GS, ZION
HedgeCoVest Industrial S 26% Transportation, 18% Machinery, 11% Miscellaneous, 11% Electronics, 7.5% Packaging & Containers MWV, MLM, EXPD, CFX, VMX -3.13% MWV, MLM, EXPD, CFX, VMC MTW, OI, TNC, CSX, WERN
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