Evaluating forecasts on S&P 500 stock returns

Net (Long − Short)

+26.6%

Long basket (51)

+31.1%

Short basket (231, underlying)

+4.5%

Backtest

Aug 6, 25 – May 19, 26

Sharpe ratio

3.1

Beta vs S&P

0.26

Alpha (ann.) vs S&P

+21%

Industry-neutral, dollar-neutral paper portfolio: long the most undervalued name and short the bottom half within each GICS industry (51 long bets, 231 short bets). Both baskets plotted as underlying returns; Net = Long − Short. No commissions, borrow cost, or dividends. Not investment advice.

Each cell shows the 2030 forecast: median (P50) on the top line, 80% confidence interval (P10 – P90) below. Revenue and payout are in absolute terms; margin is net margin. Click any row for the full historical-and-forecast trajectory plus the implied DCF valuation. Not investment advice.

Company	Ticker	Bet	Industry	Market Cap	Revenue, 2030	Margin, 2030	Payout, 2030
Nvidia	NVDA	SHORT	Semiconductors & Semiconductor Equipment	$4549.9B	$463B $250B – $800B	36.5% 25.0% – 48.0%	42.5% 10.0% – 65.0%
Alphabet Inc.	GOOGL	SHORT	Software & Services	$3971.6B	$652B $473B – $893B	27.0% 22.0% – 34.0%	65.0% 35.5% – 90.0%
Apple Inc.	AAPL	skipped	Technology Hardware & Equipment	$3876.7B	$592B $450B – $800B	26.0% 22.0% – 30.0%	85.0% 65.0% – 100.0%
Microsoft	MSFT	SHORT	Software & Services	$3556.5B	$550B $400B – $750B	37.5% 32.0% – 42.0%	46.0% 25.0% – 65.0%
Amazon	AMZN	LONG	Consumer Discretionary Distribution & Retail	$2575.6B	$1152B $864B – $1500B	10.5% 7.0% – 16.0%	13.8% 0.0% – 40.0%
Meta Platforms	META	SHORT	Media & Entertainment	$1665.1B	$358B $240B – $450B	30.0% 20.0% – 40.0%	60.0% 35.0% – 85.0%
Broadcom	AVGO	SHORT	Semiconductors & Semiconductor Equipment	$1629.9B	$102B $74.0B – $130B	39.0% 22.0% – 55.0%	65.0% 40.0% – 95.0%
Tesla, Inc.	TSLA	SHORT	Automobiles & Components	$1439.9B	$500B $250B – $1500B	13.5% 5.0% – 25.0%	1.3% 0.0% – 25.0%
Berkshire Hathaway	BRK.B, BRK.A	SHORT	Insurance	$1100.0B	$482B $350B – $623B	16.5% 5.0% – 35.0%	32.5% 5.0% – 60.0%
Lilly (Eli)	LLY	SHORT	Pharmaceuticals, Biotechnology & Life Sciences	$1005.9B	$103B $75.0B – $130B	29.0% 20.0% – 38.0%	49.0% 30.0% – 75.0%
Walmart	WMT	SHORT	Consumer Staples Distribution & Retail	$911.3B	$840B $750B – $950B	3.0% 2.0% – 4.0%	55.0% 38.0% – 80.0%
JPMorgan Chase	JPM	SHORT	Banks	$910.9B	$222B $194B – $260B	22.0% 16.0% – 32.0%	50.0% 30.0% – 75.0%
Visa Inc.	V	SHORT	Financial Services	$737.3B	$65.1B $51.0B – $78.9B	54.0% 48.0% – 60.0%	94.0% 75.0% – 100.0%
Oracle Corporation	ORCL	SHORT	Software & Services	$556.7B	$108B $75.3B – $140B	23.5% 18.0% – 29.0%	57.5% 35.0% – 85.0%
Mastercard	MA	SHORT	Financial Services	$521.1B	$54.3B $42.3B – $65.2B	45.0% 42.0% – 50.0%	95.5% 75.0% – 100.0%
ExxonMobil	XOM	LONG	Energy	$510.5B	$418B $320B – $500B	10.5% 7.0% – 15.0%	65.0% 50.0% – 85.0%
Johnson & Johnson	JNJ	middle	Pharmaceuticals, Biotechnology & Life Sciences	$493.4B	$125B $107B – $137B	23.0% 18.0% – 28.0%	60.0% 45.0% – 80.0%
Bank of America	BAC	middle	Banks	$418.1B	$128B $95.0B – $150B	22.0% 18.0% – 29.0%	52.5% 25.0% – 85.0%
AbbVie	ABBV	SHORT	Pharmaceuticals, Biotechnology & Life Sciences	$395.8B	$70.2B $55.0B – $85.0B	20.5% 12.0% – 28.0%	57.5% 40.0% – 90.0%
Costco	COST	SHORT	Consumer Staples Distribution & Retail	$394.0B	$382B $331B – $431B	3.0% 2.8% – 4.0%	45.0% 28.0% – 100.0%
Micron Technology	MU	middle	Semiconductors & Semiconductor Equipment	$386.5B	$64.5B $45.0B – $90.0B	20.0% 5.0% – 35.0%	35.0% 15.0% – 60.0%
Netflix	NFLX	SHORT	Media & Entertainment	$384.1B	$75.0B $52.0B – $90.0B	28.0% 22.0% – 35.0%	60.0% 26.7% – 85.0%
Palantir Technologies	PLTR	SHORT	Software & Services	$375.6B	$15.1B $8.50B – $25.0B	29.0% 18.0% – 40.0%	15.0% 1.0% – 50.0%
GE Aerospace	GE	SHORT	Capital Goods	$354.5B	$59.6B $51.2B – $73.0B	19.0% 16.0% – 22.0%	72.5% 65.0% – 80.0%
Advanced Micro Devices	AMD	SHORT	Semiconductors & Semiconductor Equipment	$349.0B	$87.5B $35.0B – $150B	20.0% 8.0% – 30.0%	18.3% 5.0% – 50.0%
Home Depot (The)	HD	SHORT	Consumer Discretionary Distribution & Retail	$347.7B	$195B $176B – $215B	9.5% 8.5% – 11.0%	60.0% 50.0% – 75.0%
Procter & Gamble	PG	SHORT	Household & Personal Products	$326.9B	$98.5B $90.0B – $108B	19.0% 16.0% – 21.0%	75.0% 60.0% – 95.0%
UnitedHealth Group	UNH	middle	Health Care Equipment & Services	$316.1B	$647B $536B – $790B	5.0% 3.0% – 6.0%	63.8% 45.0% – 76.5%
Chevron Corporation	CVX	SHORT	Energy	$315.2B	$228B $150B – $324B	9.0% 4.0% – 13.0%	75.0% 55.0% – 95.0%
Wells Fargo	WFC	LONG	Banks	$302.6B	$107B $83.0B – $130B	20.0% 12.0% – 28.0%	61.5% 35.0% – 95.0%
Morgan Stanley	MS	LONG	Financial Services	$298.4B	$75.6B $61.0B – $92.8B	20.5% 14.0% – 26.0%	61.5% 35.0% – 95.0%
Cisco	CSCO	SHORT	Technology Hardware & Equipment	$297.2B	$71.8B $60.0B – $81.7B	21.0% 16.0% – 24.0%	85.0% 60.0% – 98.0%
Coca-Cola Company (The)	KO	SHORT	Food, Beverage & Tobacco	$291.8B	$62.1B $53.0B – $69.0B	24.0% 21.0% – 28.0%	75.0% 65.0% – 85.0%
Caterpillar Inc.	CAT	SHORT	Capital Goods	$291.6B	$80.3B $68.0B – $91.9B	16.0% 12.0% – 20.0%	85.0% 65.0% – 98.0%
Goldman Sachs	GS	SHORT	Financial Services	$286.6B	$62.0B $51.3B – $72.0B	22.5% 15.0% – 30.0%	55.0% 35.0% – 75.0%
IBM	IBM	SHORT	Software & Services	$282.7B	$79.8B $67.0B – $93.0B	13.0% 8.0% – 18.0%	70.0% 55.0% – 85.0%
Merck & Co.	MRK	middle	Pharmaceuticals, Biotechnology & Life Sciences	$270.2B	$66.5B $55.0B – $85.0B	19.0% 12.0% – 26.0%	67.5% 45.0% – 95.0%
American Express	AXP	middle	Financial Services	$264.2B	$111B $90.0B – $137B	15.5% 12.0% – 19.0%	70.0% 50.0% – 90.0%
Lam Research	LRCX	SHORT	Semiconductors & Semiconductor Equipment	$259.9B	$30.0B $22.0B – $40.0B	30.5% 25.0% – 36.0%	85.0% 65.0% – 95.0%
RTX Corporation	RTX	SHORT	Capital Goods	$255.3B	$111B $95.0B – $125B	11.0% 6.0% – 15.0%	67.5% 50.0% – 95.0%
Salesforce	CRM	middle	Software & Services	$246.3B	$57.8B $48.0B – $67.0B	20.0% 13.0% – 26.0%	52.5% 30.0% – 95.0%
Philip Morris International	PM	SHORT	Food, Beverage & Tobacco	$241.5B	$52.5B $44.7B – $60.1B	25.0% 18.0% – 30.0%	75.0% 65.0% – 90.0%
Applied Materials	AMAT	LONG	Semiconductors & Semiconductor Equipment	$234.7B	$39.3B $30.0B – $56.6B	27.0% 22.0% – 32.0%	85.0% 50.0% – 95.0%
Thermo Fisher Scientific	TMO	middle	Pharmaceuticals, Biotechnology & Life Sciences	$233.2B	$68.0B $54.3B – $84.5B	17.0% 15.0% – 19.0%	42.5% 25.0% – 70.0%
Abbott Laboratories	ABT	SHORT	Health Care Equipment & Services	$222.2B	$61.4B $50.0B – $68.0B	15.5% 12.0% – 22.0%	67.5% 40.0% – 95.0%
T-Mobile US	TMUS	SHORT	Telecommunication Services	$222.1B	$102B $86.4B – $118B	16.0% 10.0% – 20.0%	66.5% 40.0% – 90.0%
Citigroup	C	middle	Banks	$219.2B	$102B $92.0B – $115B	12.0% 8.0% – 22.0%	37.5% 25.0% – 70.0%
McDonald's	MCD	SHORT	Consumer Services	$215.6B	$35.9B $29.3B – $42.0B	34.0% 28.0% – 38.0%	67.5% 55.0% – 95.0%
Intuitive Surgical	ISRG	SHORT	Health Care Equipment & Services	$210.2B	$18.6B $14.5B – $23.5B	26.0% 21.0% – 32.0%	25.0% 5.0% – 60.0%
Blackstone Inc.	BX	SHORT	Financial Services	$205.3B	$25.0B $15.0B – $40.0B	40.0% 25.0% – 55.0%	85.0% 60.0% – 95.0%
Walt Disney Company (The)	DIS	middle	Media & Entertainment	$204.5B	$129B $105B – $148B	12.0% 7.0% – 16.0%	35.0% 20.0% – 55.0%
Linde plc	LIN	SHORT	Materials	$204.1B	$45.5B $38.0B – $52.8B	22.0% 18.0% – 26.0%	85.0% 65.0% – 98.0%
Qualcomm	QCOM	middle	Semiconductors & Semiconductor Equipment	$195.4B	$60.0B $38.0B – $85.0B	25.0% 18.0% – 32.0%	65.0% 35.0% – 90.0%
Intel	INTC	middle	Semiconductors & Semiconductor Equipment	$191.0B	$85.0B $60.0B – $110B	15.0% 5.0% – 25.0%	32.5% 5.0% – 65.0%
PepsiCo	PEP	LONG	Food, Beverage & Tobacco	$190.0B	$126B $103B – $140B	10.5% 8.0% – 13.0%	85.3% 65.0% – 95.0%
Charles Schwab Corporation	SCHW	SHORT	Financial Services	$187.8B	$40.3B $30.0B – $55.0B	29.0% 22.0% – 38.0%	45.0% 25.0% – 70.0%
KLA Corporation	KLAC	SHORT	Semiconductors & Semiconductor Equipment	$183.3B	$17.5B $14.5B – $23.8B	35.0% 28.0% – 40.0%	85.0% 55.0% – 95.0%
Accenture	ACN	middle	Commercial & Professional Services	$182.3B	$97.3B $79.7B – $135B	12.0% 10.0% – 14.0%	91.3% 65.0% – 100.0%
Intuit	INTU	SHORT	Software & Services	$180.2B	$31.9B $25.0B – $40.0B	22.0% 17.0% – 28.0%	87.5% 50.0% – 99.0%
Amgen	AMGN	SHORT	Pharmaceuticals, Biotechnology & Life Sciences	$177.8B	$42.3B $34.0B – $55.0B	22.0% 15.0% – 30.0%	60.0% 50.0% – 90.0%
Uber	UBER	middle	Transportation	$177.7B	$84.3B $58.0B – $107B	14.5% 5.0% – 25.0%	50.0% 25.0% – 95.0%
Boeing	BA	SHORT	Capital Goods	$174.7B	$115B $75.0B – $140B	3.0% -5.0% – 8.0%	42.5% 10.0% – 75.0%
Texas Instruments	TXN	middle	Semiconductors & Semiconductor Equipment	$174.5B	$35.0B $22.0B – $45.0B	38.0% 30.0% – 45.0%	88.0% 65.0% – 100.0%
Amphenol	APH	SHORT	Technology Hardware & Equipment	$173.1B	$29.3B $20.4B – $37.9B	18.0% 15.0% – 21.0%	47.5% 35.0% – 68.0%
AT&T	T	SHORT	Telecommunication Services	$172.6B	$134B $115B – $146B	11.0% 7.0% – 15.0%	65.0% 45.0% – 80.0%
Booking Holdings	BKNG	SHORT	Consumer Services	$172.4B	$35.0B $25.0B – $50.0B	26.5% 18.0% – 35.0%	57.5% 30.0% – 85.0%
TJX Companies	TJX	SHORT	Consumer Discretionary Distribution & Retail	$170.9B	$73.8B $66.9B – $86.7B	8.5% 7.0% – 10.0%	77.8% 55.0% – 95.0%
Verizon	VZ	middle	Telecommunication Services	$169.9B	$151B $130B – $171B	13.0% 10.0% – 16.0%	61.3% 45.0% – 75.0%
NextEra Energy	NEE	middle	Utilities	$168.8B	$41.5B $33.2B – $62.1B	24.5% 18.0% – 32.0%	65.0% 55.0% – 75.0%
Danaher Corporation	DHR	SHORT	Pharmaceuticals, Biotechnology & Life Sciences	$167.1B	$35.1B $28.5B – $42.5B	19.5% 15.0% – 24.0%	30.0% 15.0% – 60.0%
Arista Networks	ANET	SHORT	Technology Hardware & Equipment	$167.0B	$18.1B $13.0B – $22.5B	39.0% 32.0% – 48.0%	35.0% 10.0% – 60.0%
BlackRock	BLK	SHORT	Financial Services	$165.9B	$26.5B $20.0B – $35.0B	32.0% 24.0% – 36.0%	75.0% 60.0% – 90.0%
GE Vernova	GEV	SHORT	Energy	$164.2B	$52.5B $42.4B – $62.7B	11.0% 6.0% – 14.0%	27.6% 15.0% – 45.4%
S&P Global	SPGI	SHORT	Financial Services	$163.4B	$20.4B $17.6B – $23.8B	34.5% 28.0% – 40.0%	85.0% 60.0% – 100.0%
Capital One	COF	SHORT	Banks	$159.3B	$79.0B $66.4B – $95.0B	14.0% 8.0% – 25.0%	47.5% 25.0% – 85.0%
ServiceNow	NOW	middle	Software & Services	$154.8B	$27.0B $22.2B – $35.0B	23.0% 16.0% – 29.0%	39.5% 10.0% – 73.5%
Gilead Sciences	GILD	SHORT	Pharmaceuticals, Biotechnology & Life Sciences	$150.6B	$33.5B $28.0B – $42.0B	21.0% 15.0% – 27.0%	65.0% 45.0% – 95.0%
Boston Scientific	BSX	SHORT	Health Care Equipment & Services	$145.0B	$22.0B $18.0B – $26.0B	14.5% 11.0% – 18.0%	50.0% 20.0% – 70.0%
Pfizer	PFE	middle	Pharmaceuticals, Biotechnology & Life Sciences	$144.6B	$75.0B $60.0B – $90.0B	18.0% 8.0% – 25.0%	60.0% 45.0% – 85.0%
Analog Devices	ADI	SHORT	Semiconductors & Semiconductor Equipment	$143.4B	$15.9B $12.0B – $20.0B	24.5% 18.0% – 30.0%	95.0% 70.0% – 115.0%
Adobe Inc.	ADBE	LONG	Software & Services	$140.6B	$39.9B $32.3B – $49.5B	28.5% 22.0% – 35.0%	80.0% 50.0% – 100.0%
Stryker Corporation	SYK	SHORT	Health Care Equipment & Services	$140.1B	$36.1B $30.3B – $40.0B	15.0% 11.0% – 18.0%	45.0% 28.0% – 60.0%
Union Pacific Corporation	UNP	LONG	Transportation	$138.6B	$29.7B $26.5B – $48.0B	29.0% 25.0% – 33.0%	63.8% 45.0% – 85.0%
Lowe's	LOW	LONG	Consumer Discretionary Distribution & Retail	$138.3B	$99.3B $86.0B – $109B	9.5% 7.0% – 12.0%	70.0% 45.0% – 98.0%
Honeywell	HON	LONG	Capital Goods	$138.1B	$55.0B $48.0B – $62.0B	16.0% 13.0% – 19.0%	72.5% 55.0% – 95.0%
Deere & Company	DE	SHORT	Capital Goods	$131.4B	$70.3B $55.0B – $82.0B	14.5% 9.0% – 18.0%	65.0% 40.0% – 85.0%
Palo Alto Networks	PANW	SHORT	Software & Services	$129.5B	$17.2B $14.2B – $22.0B	19.0% 12.0% – 25.0%	30.0% 5.0% – 60.0%
Eaton Corporation	ETN	middle	Capital Goods	$129.3B	$38.5B $35.3B – $41.7B	19.5% 17.0% – 21.0%	58.0% 45.0% – 75.0%
Medtronic	MDT	middle	Health Care Equipment & Services	$128.6B	$42.6B $38.0B – $48.0B	15.0% 11.0% – 18.0%	80.0% 55.0% – 95.0%
Welltower	WELL	SHORT	Equity Real Estate Investment Trusts (REITs)	$127.4B	$14.2B $10.7B – $20.7B	14.0% 8.0% – 20.0%	75.0% 48.0% – 98.0%
Progressive Corporation	PGR	SHORT	Insurance	$124.5B	$129B $101B – $166B	8.5% 4.0% – 13.0%	36.5% 15.0% – 60.0%
Chubb Limited	CB	LONG	Insurance	$121.7B	$87.4B $71.0B – $104B	15.0% 11.0% – 20.0%	41.0% 25.0% – 65.0%
KKR & Co.	KKR	SHORT	Financial Services	$121.0B	$32.5B $16.0B – $59.0B	15.0% 8.0% – 22.0%	37.5% 15.0% – 60.0%
Lockheed Martin	LMT	middle	Capital Goods	$120.8B	$87.9B $76.0B – $101B	8.5% 6.0% – 12.0%	80.0% 55.0% – 98.0%
DoorDash	DASH	SHORT	Consumer Services	$120.4B	$24.0B $18.5B – $31.5B	7.5% 2.0% – 15.0%	15.0% 5.0% – 35.0%
ConocoPhillips	COP	SHORT	Energy	$120.0B	$65.5B $47.0B – $89.0B	15.5% 8.0% – 25.0%	50.0% 35.0% – 85.0%
Newmont	NEM	skipped	Materials	$119.2B	$27.5B $17.6B – $48.6B	19.0% 8.0% – 35.0%	45.0% 25.0% – 70.0%
Vertex Pharmaceuticals	VRTX	SHORT	Pharmaceuticals, Biotechnology & Life Sciences	$118.8B	$19.3B $15.0B – $28.0B	31.0% 22.0% – 40.0%	25.0% 10.0% – 50.0%
Prologis	PLD	SHORT	Equity Real Estate Investment Trusts (REITs)	$118.4B	$14.2B $12.0B – $21.3B	42.0% 32.0% – 55.0%	95.0% 85.0% – 100.0%
Parker Hannifin	PH	SHORT	Capital Goods	$117.2B	$26.0B $22.8B – $29.0B	19.5% 16.0% – 22.0%	35.0% 25.0% – 55.0%
CrowdStrike	CRWD	SHORT	Software & Services	$115.5B	$12.0B $8.40B – $15.1B	15.0% 5.0% – 25.0%	17.5% 2.5% – 50.0%
Bristol Myers Squibb	BMY	LONG	Pharmaceuticals, Biotechnology & Life Sciences	$110.8B	$42.0B $35.0B – $55.0B	20.0% 15.0% – 25.0%	80.0% 45.0% – 100.0%
Constellation Energy	CEG	SHORT	Utilities	$110.7B	$35.0B $25.0B – $45.0B	12.0% 5.0% – 18.0%	42.5% 25.0% – 65.0%
HCA Healthcare	HCA	SHORT	Health Care Equipment & Services	$110.4B	$96.1B $85.5B – $106B	8.0% 6.0% – 10.0%	80.0% 60.0% – 95.0%
Comcast	CMCSA	LONG	Telecommunication Services	$106.6B	$140B $124B – $159B	13.0% 8.0% – 17.0%	75.0% 50.0% – 95.0%
Automatic Data Processing	ADP	middle	Software & Services	$105.6B	$27.5B $24.5B – $30.5B	22.0% 20.0% – 24.0%	85.0% 55.0% – 95.0%
CVS Health	CVS	SHORT	Health Care Equipment & Services	$102.4B	$500B $444B – $600B	2.0% 1.0% – 4.0%	60.0% 35.0% – 85.0%
McKesson Corporation	MCK	SHORT	Health Care Equipment & Services	$102.0B	$482B $403B – $552B	1.1% 0.5% – 3.0%	70.0% 25.0% – 95.0%
Starbucks	SBUX	LONG	Consumer Services	$101.7B	$57.7B $45.8B – $68.4B	12.0% 8.0% – 15.0%	65.0% 45.0% – 90.0%
General Dynamics	GD	middle	Capital Goods	$97.4B	$60.0B $57.0B – $65.0B	8.0% 7.0% – 9.0%	75.0% 60.0% – 90.0%
Nike, Inc.	NKE	SHORT	Consumer Durables & Apparel	$96.7B	$68.5B $53.7B – $91.1B	9.5% 6.0% – 13.0%	65.0% 35.0% – 95.0%
CME Group	CME	middle	Financial Services	$96.6B	$8.35B $6.90B – $10.6B	58.5% 52.0% – 65.0%	95.0% 80.0% – 100.0%
Southern Company	SO	SHORT	Utilities	$96.4B	$36.5B $31.9B – $42.4B	14.0% 10.0% – 18.0%	72.0% 55.0% – 85.0%
Moody's Corporation	MCO	SHORT	Financial Services	$95.1B	$11.2B $9.00B – $13.5B	31.0% 26.0% – 36.0%	80.0% 45.0% – 95.0%
Altria	MO	LONG	Food, Beverage & Tobacco	$94.7B	$21.5B $18.0B – $24.1B	36.5% 20.0% – 48.0%	80.0% 70.0% – 95.0%
Intercontinental Exchange	ICE	SHORT	Financial Services	$94.7B	$12.9B $11.1B – $14.7B	32.0% 25.0% – 40.0%	60.0% 40.0% – 75.0%
Duke Energy	DUK	SHORT	Utilities	$91.6B	$39.0B $36.3B – $41.9B	14.0% 12.0% – 16.0%	68.0% 60.0% – 75.0%
Marsh McLennan	MMC	LONG	Insurance	$90.9B	$35.5B $29.2B – $40.6B	18.0% 15.0% – 20.0%	65.0% 45.0% – 75.0%
Dell Technologies	DELL	SHORT	Technology Hardware & Equipment	$90.0B	$132B $110B – $169B	6.0% 4.0% – 8.0%	65.0% 35.0% – 95.0%
United Parcel Service	UPS	LONG	Transportation	$89.3B	$135B $122B – $150B	10.0% 7.0% – 13.0%	60.0% 45.0% – 85.0%
Apollo Global Management	APO	middle	Financial Services	$88.4B	$54.0B $35.0B – $85.0B	17.5% 10.0% – 25.0%	40.0% 15.0% – 65.0%
Waste Management	WM	SHORT	Commercial & Professional Services	$88.3B	$33.8B $28.7B – $38.0B	12.5% 10.0% – 16.0%	82.5% 60.0% – 95.0%
Airbnb	ABNB	middle	Consumer Services	$87.6B	$20.7B $15.9B – $26.4B	25.5% 15.0% – 35.0%	67.5% 30.0% – 100.0%
U.S. Bancorp	USB	SHORT	Banks	$87.2B	$38.1B $30.2B – $45.0B	22.0% 15.0% – 28.0%	55.0% 40.0% – 78.0%
Northrop Grumman	NOC	middle	Capital Goods	$87.1B	$53.3B $46.5B – $62.0B	10.0% 7.0% – 12.0%	75.0% 45.0% – 98.0%
3M	MMM	SHORT	Capital Goods	$86.9B	$27.6B $18.5B – $32.0B	15.5% 12.0% – 21.0%	57.5% 30.0% – 80.0%
Marriott International	MAR	LONG	Consumer Services	$86.4B	$36.4B $30.0B – $48.0B	11.5% 8.0% – 16.0%	85.0% 40.0% – 100.0%
Howmet Aerospace	HWM	SHORT	Capital Goods	$86.3B	$11.8B $10.5B – $13.2B	19.0% 14.0% – 22.0%	45.0% 35.0% – 55.0%
Cadence Design Systems	CDNS	SHORT	Semiconductors & Semiconductor Equipment	$85.6B	$9.20B $7.50B – $10.7B	26.0% 20.0% – 35.0%	45.0% 20.0% – 75.0%
PNC Financial Services	PNC	middle	Banks	$85.5B	$35.6B $25.0B – $48.9B	22.0% 15.0% – 28.0%	47.5% 35.0% – 65.0%
BNY Mellon	BK	SHORT	Financial Services	$84.6B	$20.3B $16.0B – $24.0B	22.0% 18.0% – 26.0%	80.0% 60.0% – 100.0%
Trane Technologies	TT	SHORT	Capital Goods	$84.5B	$29.6B $24.9B – $39.2B	15.0% 12.0% – 18.0%	72.5% 45.0% – 90.0%
Sherwin-Williams	SHW	SHORT	Materials	$84.3B	$31.5B $27.6B – $38.2B	13.0% 10.0% – 15.0%	80.0% 40.0% – 95.0%
Elevance Health	ELV	SHORT	Health Care Equipment & Services	$82.5B	$266B $237B – $314B	3.8% 2.5% – 5.0%	62.5% 45.0% – 75.0%
American Tower	AMT	SHORT	Equity Real Estate Investment Trusts (REITs)	$82.3B	$13.4B $11.5B – $19.0B	20.0% 15.0% – 28.0%	85.0% 65.0% – 98.0%
Emerson Electric	EMR	middle	Capital Goods	$81.8B	$25.4B $22.0B – $29.5B	16.0% 12.0% – 19.0%	78.0% 65.0% – 95.0%
Regeneron Pharmaceuticals	REGN	middle	Pharmaceuticals, Biotechnology & Life Sciences	$81.6B	$21.3B $15.0B – $32.0B	28.0% 18.0% – 35.0%	42.5% 20.0% – 75.0%
Royal Caribbean Group	RCL	SHORT	Consumer Services	$81.2B	$26.0B $21.0B – $32.5B	18.5% 12.0% – 22.0%	35.0% 20.0% – 60.0%
Freeport-McMoRan	FCX	skipped	Materials	$80.6B	$35.0B $25.0B – $50.0B	14.0% 5.0% – 22.0%	35.0% 20.0% – 65.0%
Synopsys	SNPS	SHORT	Semiconductors & Semiconductor Equipment	$78.9B	$17.2B $13.5B – $21.7B	31.0% 22.0% – 40.0%	30.0% 5.0% – 85.0%
TransDigm Group	TDG	SHORT	Capital Goods	$78.0B	$13.3B $10.6B – $17.5B	21.5% 17.0% – 26.0%	50.0% 10.0% – 90.0%
Equinix	EQIX	SHORT	Equity Real Estate Investment Trusts (REITs)	$77.4B	$14.3B $12.7B – $15.1B	12.0% 9.0% – 15.0%	95.0% 85.0% – 98.0%
Ecolab	ECL	SHORT	Materials	$76.9B	$22.6B $19.5B – $26.3B	16.0% 14.0% – 18.0%	65.0% 45.0% – 85.0%
General Motors	GM	LONG	Automobiles & Components	$76.7B	$240B $200B – $280B	6.5% 4.0% – 10.0%	40.0% 25.0% – 60.0%
Corning Inc.	GLW	SHORT	Technology Hardware & Equipment	$76.5B	$20.9B $16.8B – $25.0B	12.0% 6.0% – 16.0%	70.0% 45.0% – 100.0%
O’Reilly Automotive	ORLY	SHORT	Automobiles & Components	$76.3B	$22.4B $19.9B – $26.5B	13.0% 11.0% – 16.0%	95.0% 75.0% – 100.0%
Cigna	CI	SHORT	Insurance	$76.1B	$345B $297B – $391B	3.3% 2.0% – 5.0%	56.5% 26.0% – 95.0%
Cummins	CMI	LONG	Capital Goods	$75.5B	$45.5B $42.0B – $48.0B	10.5% 8.0% – 14.0%	55.0% 38.0% – 90.0%
Cintas	CTAS	SHORT	Commercial & Professional Services	$75.3B	$14.5B $12.6B – $15.7B	19.0% 16.0% – 21.0%	72.5% 50.0% – 95.0%
Aon plc	AON	middle	Commercial & Professional Services	$75.2B	$21.3B $17.0B – $25.0B	18.0% 15.0% – 21.0%	85.0% 50.0% – 100.0%
Western Digital	WDC	middle	Technology Hardware & Equipment	$75.0B	$20.5B $11.5B – $31.5B	13.0% 5.0% – 22.0%	35.0% 5.0% – 70.0%
Monster Beverage	MNST	SHORT	Food, Beverage & Tobacco	$74.0B	$12.3B $10.0B – $15.8B	22.0% 18.0% – 26.0%	37.5% 9.5% – 75.0%
Illinois Tool Works	ITW	middle	Capital Goods	$73.7B	$19.0B $17.0B – $20.1B	25.0% 22.0% – 27.0%	87.0% 82.0% – 95.0%
Williams Companies	WMB	SHORT	Energy	$72.7B	$13.9B $11.5B – $16.0B	22.5% 15.0% – 30.0%	80.0% 62.5% – 100.0%
Seagate Technology	STX	SHORT	Technology Hardware & Equipment	$70.6B	$12.2B $8.50B – $18.3B	17.0% 5.0% – 25.0%	60.0% 35.0% – 95.0%
Warner Bros. Discovery	WBD	middle	Media & Entertainment	$70.5B	$51.5B $37.0B – $62.0B	6.0% -5.0% – 15.0%	15.0% 0.0% – 40.0%
FedEx	FDX	middle	Transportation	$69.9B	$110B $93.1B – $125B	6.0% 4.0% – 8.0%	60.0% 35.0% – 85.0%
Johnson Controls	JCI	SHORT	Capital Goods	$69.6B	$29.1B $22.5B – $33.5B	10.5% 7.0% – 14.0%	77.5% 45.0% – 95.0%
Fiserv	FI	middle	Software & Services	$68.6B	$31.8B $27.6B – $37.4B	21.5% 18.0% – 26.0%	95.0% 75.0% – 100.0%
Hilton Worldwide	HLT	SHORT	Consumer Services	$68.2B	$16.4B $14.1B – $18.7B	13.0% 10.0% – 16.0%	85.0% 50.0% – 100.0%
TE Connectivity	TEL	middle	Technology Hardware & Equipment	$68.0B	$21.9B $18.4B – $27.0B	16.0% 12.0% – 20.0%	75.0% 45.0% – 95.0%
Mondelez International	MDLZ	LONG	Food, Beverage & Tobacco	$68.0B	$48.8B $42.0B – $62.0B	13.0% 10.0% – 15.0%	75.0% 60.0% – 90.0%
Coinbase	COIN	middle	Financial Services	$67.6B	$21.0B $4.00B – $60.0B	15.0% -5.0% – 35.0%	15.0% 0.0% – 40.0%
Arthur J. Gallagher & Co.	AJG	SHORT	Insurance	$67.5B	$19.9B $15.5B – $24.1B	15.0% 12.0% – 19.0%	43.5% 25.0% – 60.0%
CSX Corporation	CSX	middle	Transportation	$67.2B	$18.4B $15.9B – $20.5B	24.5% 18.0% – 29.0%	70.0% 45.0% – 95.0%
Cencora	COR	middle	Pharmaceuticals, Biotechnology & Life Sciences	$67.2B	$449B $372B – $516B	1.0% 0.0% – 2.0%	62.5% 35.0% – 95.0%
Truist Financial	TFC	SHORT	Banks	$65.5B	$24.1B $21.4B – $27.0B	20.0% 14.0% – 27.0%	65.0% 45.0% – 85.0%
Quanta Services	PWR	SHORT	Capital Goods	$65.3B	$44.0B $35.0B – $58.5B	4.5% 3.0% – 6.0%	16.5% 8.5% – 40.0%
Norfolk Southern	NSC	SHORT	Transportation	$65.3B	$14.8B $12.9B – $18.0B	28.0% 20.0% – 35.0%	56.5% 40.0% – 95.0%
Republic Services	RSG	LONG	Commercial & Professional Services	$65.3B	$22.6B $20.3B – $25.4B	14.0% 11.0% – 16.0%	55.0% 45.0% – 70.0%
Schlumberger	SLB	SHORT	Energy	$65.2B	$45.5B $38.5B – $55.0B	12.0% 7.0% – 18.0%	52.5% 35.0% – 72.0%
Travelers Companies (The)	TRV	middle	Insurance	$63.6B	$65.3B $55.4B – $77.9B	10.0% 7.0% – 13.0%	70.0% 35.0% – 95.0%
Motorola Solutions	MSI	SHORT	Technology Hardware & Equipment	$63.5B	$15.9B $13.5B – $18.7B	19.5% 15.0% – 24.0%	66.5% 45.0% – 85.0%
Colgate-Palmolive	CL	SHORT	Household & Personal Products	$62.2B	$25.1B $22.6B – $27.8B	15.0% 13.0% – 17.0%	80.0% 58.0% – 95.0%
Autodesk	ADSK	SHORT	Software & Services	$62.2B	$9.40B $7.80B – $11.5B	22.0% 18.0% – 26.0%	75.0% 50.0% – 95.0%
NXP Semiconductors	NXPI	middle	Semiconductors & Semiconductor Equipment	$61.9B	$22.3B $17.7B – $28.7B	21.5% 15.0% – 28.0%	80.0% 45.0% – 98.0%
American Electric Power	AEP	LONG	Utilities	$61.6B	$27.4B $23.5B – $31.6B	14.0% 11.0% – 18.0%	61.3% 55.0% – 70.0%
Paccar	PCAR	LONG	Capital Goods	$61.5B	$46.9B $35.0B – $68.5B	11.0% 7.0% – 15.0%	50.0% 35.0% – 65.0%
Digital Realty	DLR	middle	Equity Real Estate Investment Trusts (REITs)	$61.3B	$9.75B $8.20B – $12.2B	15.0% 8.0% – 25.0%	92.5% 75.0% – 100.0%
Simon Property Group	SPG	SHORT	Equity Real Estate Investment Trusts (REITs)	$60.8B	$6.76B $6.10B – $7.80B	37.0% 28.0% – 45.0%	93.8% 70.0% – 100.0%
Ross Stores	ROST	SHORT	Consumer Discretionary Distribution & Retail	$60.7B	$28.2B $24.0B – $33.5B	10.0% 8.0% – 12.0%	75.0% 60.0% – 90.0%
Kinder Morgan	KMI	SHORT	Energy	$59.7B	$19.4B $14.3B – $26.0B	16.0% 12.0% – 20.0%	92.3% 85.0% – 100.0%
L3Harris	LHX	middle	Capital Goods	$58.8B	$26.5B $24.8B – $30.5B	9.0% 7.0% – 12.0%	72.5% 45.0% – 100.0%
Aflac	AFL	SHORT	Insurance	$58.7B	$18.2B $15.0B – $21.0B	22.0% 15.0% – 28.0%	70.0% 55.0% – 85.0%
Becton Dickinson	BDX	middle	Health Care Equipment & Services	$58.6B	$25.1B $22.4B – $35.0B	14.0% 8.0% – 18.0%	75.0% 45.0% – 90.0%
Fortinet	FTNT	SHORT	Software & Services	$58.3B	$12.3B $9.90B – $15.0B	28.0% 22.0% – 34.0%	57.5% 25.0% – 85.0%
Air Products	APD	SHORT	Materials	$57.5B	$20.4B $14.5B – $30.0B	22.0% 15.0% – 28.0%	65.0% 45.0% – 75.0%
Nasdaq, Inc.	NDAQ	SHORT	Financial Services	$57.5B	$12.1B $9.50B – $14.6B	20.0% 15.0% – 25.0%	46.5% 34.0% – 85.0%
Vistra Corp.	VST	SHORT	Utilities	$57.4B	$25.9B $20.6B – $32.1B	12.0% 8.0% – 20.0%	62.5% 25.0% – 100.0%
Sempra	SRE	SHORT	Utilities	$57.2B	$25.9B $16.7B – $32.6B	20.5% 15.0% – 25.0%	55.0% 45.0% – 65.0%
Zoetis	ZTS	SHORT	Pharmaceuticals, Biotechnology & Life Sciences	$57.0B	$13.8B $11.8B – $16.0B	29.5% 26.0% – 33.0%	75.0% 50.0% – 95.0%
EOG Resources	EOG	middle	Energy	$57.0B	$26.4B $18.0B – $36.8B	22.0% 12.0% – 30.0%	75.0% 40.0% – 95.0%
United Rentals	URI	skipped	Commercial & Professional Services	$56.8B	$22.8B $19.0B – $26.6B	17.0% 13.0% – 21.0%	70.0% 35.0% – 95.0%
Idexx Laboratories	IDXX	SHORT	Health Care Equipment & Services	$56.4B	$6.50B $5.50B – $7.29B	28.0% 25.0% – 30.0%	50.0% 20.0% – 70.0%
PayPal	PYPL	LONG	Financial Services	$56.0B	$50.7B $37.9B – $65.8B	15.5% 12.0% – 20.0%	70.0% 25.0% – 100.0%
Workday, Inc.	WDAY	SHORT	Software & Services	$55.3B	$15.7B $12.4B – $19.3B	15.5% 8.0% – 22.0%	35.0% 15.0% – 90.0%
Phillips 66	PSX	SHORT	Energy	$55.1B	$125B $80.0B – $180B	3.0% 1.0% – 5.0%	62.5% 40.0% – 95.0%
Ford Motor Company	F	SHORT	Automobiles & Components	$55.0B	$210B $180B – $240B	5.0% 2.0% – 7.0%	45.0% 20.0% – 60.0%
Allstate	ALL	middle	Insurance	$54.4B	$82.2B $65.5B – $97.9B	6.0% 2.0% – 10.0%	60.0% 25.0% – 90.0%
Valero Energy	VLO	LONG	Energy	$54.4B	$128B $90.0B – $180B	3.0% 1.0% – 6.0%	55.0% 35.0% – 90.0%
MetLife	MET	LONG	Insurance	$54.0B	$88.5B $72.0B – $113B	7.0% 4.0% – 10.0%	77.5% 55.0% – 98.0%
AutoZone	AZO	SHORT	Consumer Discretionary Distribution & Retail	$53.8B	$26.2B $22.1B – $29.4B	13.0% 11.0% – 15.0%	95.0% 75.0% – 100.0%
Electronic Arts	EA	LONG	Media & Entertainment	$53.6B	$10.0B $8.24B – $12.0B	16.0% 10.0% – 22.0%	82.5% 50.0% – 100.0%
Realty Income	O	SHORT	Equity Real Estate Investment Trusts (REITs)	$52.8B	$7.45B $6.30B – $11.0B	21.0% 15.0% – 28.0%	86.0% 70.0% – 100.0%
Marathon Petroleum	MPC	SHORT	Energy	$51.2B	$122B $80.0B – $160B	3.0% 1.0% – 6.0%	80.0% 40.0% – 100.0%
Chipotle Mexican Grill	CMG	middle	Consumer Services	$51.1B	$23.8B $19.0B – $28.1B	15.0% 12.0% – 19.0%	60.0% 10.0% – 90.0%
Dominion Energy	D	middle	Utilities	$50.1B	$20.4B $16.5B – $28.0B	14.0% 11.0% – 18.0%	70.0% 60.0% – 85.0%
Edwards Lifesciences	EW	middle	Health Care Equipment & Services	$49.8B	$9.90B $8.30B – $11.6B	26.0% 24.0% – 29.0%	60.0% 35.0% – 80.0%
CBRE Group	CBRE	LONG	Real Estate Management & Development	$49.7B	$52.0B $42.7B – $70.0B	3.5% 2.0% – 6.0%	62.5% 25.0% – 90.0%
Cardinal Health	CAH	LONG	Health Care Equipment & Services	$49.5B	$330B $279B – $380B	1.1% 0.5% – 3.0%	48.5% 32.0% – 75.0%
Axon Enterprise	AXON	SHORT	Capital Goods	$49.4B	$7.10B $4.90B – $9.20B	18.0% 8.0% – 25.0%	5.0% 0.0% – 30.0%
Ametek	AME	SHORT	Capital Goods	$49.3B	$9.95B $8.30B – $11.6B	22.5% 19.0% – 25.0%	35.0% 20.0% – 50.0%
W. W. Grainger	GWW	SHORT	Capital Goods	$48.9B	$23.8B $20.5B – $28.0B	11.3% 9.0% – 13.0%	73.4% 55.0% – 90.0%
Baker Hughes	BKR	SHORT	Energy	$48.7B	$34.9B $28.0B – $42.0B	9.5% 3.0% – 15.0%	60.0% 25.0% – 85.0%
Monolithic Power Systems	MPWR	SHORT	Semiconductors & Semiconductor Equipment	$48.2B	$5.21B $3.90B – $8.42B	32.0% 22.0% – 38.0%	57.5% 35.0% – 85.0%
Datadog	DDOG	middle	Software & Services	$48.1B	$8.00B $5.70B – $11.5B	15.0% 8.0% – 25.0%	0.0% 0.0% – 20.0%
Fastenal	FAST	SHORT	Capital Goods	$47.7B	$10.7B $9.30B – $12.6B	15.5% 13.0% – 17.0%	79.0% 65.0% – 95.0%
Public Storage	PSA	LONG	Equity Real Estate Investment Trusts (REITs)	$47.4B	$6.51B $5.60B – $7.45B	42.0% 35.0% – 48.0%	95.0% 85.0% – 100.0%
Block, Inc.	SQ	middle	Software & Services	$47.4B	$40.0B $25.0B – $60.0B	5.5% -5.0% – 14.0%	22.5% 0.0% – 60.0%
Ameriprise Financial	AMP	middle	Financial Services	$47.4B	$21.9B $19.4B – $25.9B	19.0% 15.0% – 24.0%	85.0% 70.0% – 100.0%
Target Corporation	TGT	LONG	Consumer Staples Distribution & Retail	$47.2B	$123B $112B – $135B	4.0% 2.0% – 6.0%	61.5% 45.0% – 85.0%
Delta Air Lines	DAL	SHORT	Transportation	$47.2B	$82.6B $71.5B – $92.5B	9.0% 4.0% – 12.0%	42.5% 15.0% – 85.0%
Take-Two Interactive	TTWO	SHORT	Media & Entertainment	$47.0B	$10.9B $7.50B – $15.0B	16.5% 5.0% – 28.0%	15.0% 0.0% – 40.0%
Corteva	CTVA	SHORT	Materials	$46.9B	$22.4B $19.5B – $26.0B	9.0% 5.0% – 15.0%	67.5% 40.0% – 95.0%
Roper Technologies	ROP	SHORT	Software & Services	$46.8B	$12.6B $10.6B – $14.7B	25.0% 21.0% – 33.0%	25.0% 18.0% – 35.0%
Rockwell Automation	ROK	middle	Capital Goods	$46.4B	$13.1B $9.90B – $15.5B	14.0% 11.0% – 19.0%	77.5% 55.0% – 100.0%
Carrier Global	CARR	middle	Capital Goods	$45.1B	$33.7B $28.5B – $37.7B	14.0% 8.0% – 19.0%	50.0% 35.0% – 70.0%
Oneok	OKE	LONG	Energy	$44.6B	$36.2B $29.0B – $45.0B	13.0% 9.0% – 16.0%	82.0% 70.0% – 95.0%
Exelon	EXC	middle	Utilities	$44.3B	$32.7B $28.6B – $37.2B	11.0% 9.0% – 13.0%	61.3% 55.0% – 70.0%
MSCI Inc.	MSCI	LONG	Financial Services	$44.1B	$5.25B $3.80B – $6.30B	42.0% 35.0% – 48.0%	75.0% 50.0% – 98.0%
Xcel Energy	XEL	SHORT	Utilities	$44.0B	$18.6B $16.1B – $23.0B	13.5% 11.0% – 16.0%	60.0% 52.5% – 65.0%
PG&E Corporation	PCG	middle	Utilities	$43.2B	$30.3B $26.2B – $36.0B	9.5% 3.0% – 13.0%	32.5% 15.0% – 60.0%
Las Vegas Sands	LVS	SHORT	Consumer Services	$43.1B	$18.4B $12.5B – $25.0B	18.0% 12.0% – 25.0%	52.9% 35.0% – 95.0%
Prudential Financial	PRU	SHORT	Insurance	$42.2B	$73.2B $55.0B – $89.0B	4.5% 1.0% – 8.0%	70.0% 40.0% – 90.0%
D. R. Horton	DHI	SHORT	Real Estate Management & Development	$42.2B	$46.2B $37.0B – $60.6B	12.0% 9.0% – 14.0%	50.0% 30.0% – 70.0%
American International Group	AIG	middle	Insurance	$42.1B	$37.1B $30.1B – $53.1B	10.5% 4.0% – 15.0%	65.0% 30.0% – 100.0%
Yum! Brands	YUM	SHORT	Consumer Services	$42.0B	$10.6B $8.10B – $12.0B	20.5% 17.0% – 24.0%	67.5% 50.0% – 95.0%
Agilent Technologies	A	SHORT	Health Care Equipment & Services	$41.8B	$8.95B $7.50B – $10.3B	23.0% 18.0% – 25.0%	72.5% 35.0% – 95.0%
Diamondback Energy	FANG	middle	Energy	$41.4B	$21.4B $14.0B – $40.0B	35.0% 15.0% – 45.0%	60.0% 40.0% – 75.0%
eBay Inc.	EBAY	SHORT	Consumer Discretionary Distribution & Retail	$41.4B	$12.5B $9.50B – $14.5B	21.0% 15.0% – 26.0%	70.0% 45.0% – 95.0%
Entergy	ETR	SHORT	Utilities	$41.3B	$16.5B $14.5B – $18.5B	11.0% 7.0% – 15.0%	62.5% 55.0% – 70.0%
Occidental Petroleum	OXY	middle	Energy	$41.1B	$33.5B $22.0B – $50.0B	13.5% 5.0% – 22.0%	42.5% 20.0% – 75.0%
IQVIA	IQV	middle	Pharmaceuticals, Biotechnology & Life Sciences	$41.0B	$21.6B $18.8B – $26.0B	9.5% 7.0% – 12.0%	82.5% 40.0% – 95.0%
Cognizant	CTSH	LONG	Software & Services	$40.8B	$28.7B $23.6B – $33.8B	12.0% 10.0% – 14.0%	57.5% 35.0% – 90.0%
Microchip Technology	MCHP	SHORT	Semiconductors & Semiconductor Equipment	$40.5B	$12.5B $8.50B – $18.0B	25.0% 15.0% – 32.0%	90.0% 60.0% – 100.0%
Garmin	GRMN	SHORT	Technology Hardware & Equipment	$40.3B	$11.1B $8.80B – $13.6B	21.0% 18.0% – 24.0%	48.0% 35.0% – 65.0%
Paychex	PAYX	middle	Commercial & Professional Services	$40.0B	$7.80B $6.80B – $9.36B	31.5% 28.0% – 36.0%	85.0% 75.0% – 95.0%
Vulcan Materials Company	VMC	SHORT	Materials	$39.6B	$11.1B $8.90B – $15.0B	14.0% 11.0% – 17.0%	40.0% 25.0% – 60.0%
GE HealthCare	GEHC	LONG	Health Care Equipment & Services	$39.5B	$25.2B $23.9B – $27.9B	14.0% 10.0% – 18.0%	40.0% 25.0% – 60.0%
TKO Group Holdings	TKO	middle	Media & Entertainment	$39.3B	$6.80B $4.50B – $8.50B	16.5% 8.0% – 25.0%	60.8% 35.0% – 100.0%
Public Service Enterprise Group	PEG	SHORT	Utilities	$39.2B	$14.6B $12.3B – $16.3B	17.5% 12.0% – 22.0%	64.6% 55.0% – 75.0%
Estée Lauder Companies (The)	EL	middle	Household & Personal Products	$39.1B	$20.3B $16.0B – $26.0B	12.0% 8.0% – 15.0%	45.0% 35.0% – 65.0%
Kroger	KR	skipped	Consumer Staples Distribution & Retail	$39.1B	$173B $155B – $195B	2.0% 1.0% – 3.0%	67.5% 45.0% – 100.0%
Martin Marietta Materials	MLM	LONG	Materials	$39.0B	$10.2B $8.00B – $13.5B	17.5% 14.0% – 22.0%	35.0% 15.0% – 45.0%
Nucor	NUE	LONG	Materials	$38.8B	$39.5B $28.0B – $48.0B	8.0% 4.0% – 15.0%	45.0% 30.0% – 70.0%
Targa Resources	TRGP	middle	Energy	$38.2B	$25.0B $19.6B – $38.0B	9.0% 6.0% – 12.0%	80.0% 55.0% – 98.0%
Hartford (The)	HIG	SHORT	Insurance	$38.2B	$37.6B $32.6B – $42.1B	10.0% 7.0% – 15.0%	55.0% 25.0% – 80.0%
United Airlines Holdings	UAL	SHORT	Transportation	$38.0B	$78.7B $68.0B – $95.7B	6.0% 2.0% – 9.0%	17.5% 0.0% – 60.0%
Crown Castle	CCI	SHORT	Equity Real Estate Investment Trusts (REITs)	$37.9B	$5.90B $4.70B – $7.36B	22.0% 15.0% – 32.0%	90.0% 70.0% – 100.0%
Fair Isaac	FICO	SHORT	Software & Services	$37.9B	$3.30B $2.50B – $3.90B	32.0% 25.0% – 38.0%	90.0% 60.0% – 100.0%
DuPont	DD	SHORT	Materials	$37.8B	$8.10B $7.60B – $8.70B	12.0% 8.0% – 15.0%	50.0% 35.0% – 65.0%
Wabtec	WAB	SHORT	Capital Goods	$37.8B	$13.9B $12.4B – $16.2B	12.0% 10.0% – 15.0%	42.5% 25.0% – 95.0%
Copart	CPRT	SHORT	Consumer Discretionary Distribution & Retail	$37.7B	$8.45B $6.50B – $11.5B	33.0% 28.0% – 38.0%	5.0% 0.0% – 25.0%
Carnival	CCL	middle	Consumer Services	$37.7B	$34.3B $28.1B – $42.0B	12.5% 6.0% – 18.0%	35.0% 5.0% – 60.0%
State Street Corporation	STT	SHORT	Financial Services	$37.5B	$24.1B $15.5B – $36.0B	16.5% 10.0% – 24.0%	82.5% 55.0% – 97.0%
Keurig Dr Pepper	KDP	middle	Food, Beverage & Tobacco	$37.1B	$20.2B $17.3B – $23.0B	14.0% 10.0% – 18.0%	61.8% 45.0% – 85.0%
Keysight Technologies	KEYS	LONG	Technology Hardware & Equipment	$36.7B	$7.09B $5.97B – $8.39B	19.0% 14.0% – 24.0%	52.5% 25.0% – 85.0%
Expedia Group	EXPE	SHORT	Consumer Services	$36.7B	$20.0B $17.3B – $22.3B	9.0% 5.0% – 13.0%	67.5% 25.0% – 95.0%
ResMed	RMD	SHORT	Health Care Equipment & Services	$36.4B	$7.45B $6.30B – $8.80B	28.0% 22.0% – 32.0%	37.0% 25.0% – 60.0%
Hershey Company (The)	HSY	SHORT	Food, Beverage & Tobacco	$36.4B	$13.4B $12.6B – $15.0B	16.0% 13.0% – 20.0%	68.0% 55.0% – 80.0%
Consolidated Edison	ED	SHORT	Utilities	$35.8B	$19.9B $17.2B – $22.8B	11.0% 8.0% – 14.0%	62.8% 55.0% – 70.0%
Teradyne	TER	middle	Semiconductors & Semiconductor Equipment	$35.8B	$4.90B $3.50B – $6.50B	21.0% 15.0% – 28.0%	57.5% 35.0% – 95.0%
Ventas	VTR	SHORT	Equity Real Estate Investment Trusts (REITs)	$35.8B	$7.30B $6.20B – $8.70B	7.0% 2.0% – 15.0%	82.5% 55.0% – 100.0%
Old Dominion	ODFL	skipped	Transportation	$35.3B	$8.85B $7.35B – $11.4B	21.0% 17.0% – 24.0%	70.0% 35.0% – 95.0%
Otis Worldwide	OTIS	middle	Capital Goods	$35.0B	$18.6B $16.3B – $21.0B	13.0% 10.0% – 16.0%	77.5% 50.0% – 95.0%
Sysco	SYY	skipped	Consumer Staples Distribution & Retail	$35.0B	$103B $92.7B – $114B	3.0% 2.0% – 4.0%	76.8% 50.0% – 95.0%
Fidelity National Information Services	FIS	SHORT	Software & Services	$34.7B	$14.9B $13.5B – $16.0B	13.5% 5.0% – 20.0%	45.0% 35.0% – 65.0%
WEC Energy Group	WEC	middle	Utilities	$34.5B	$12.4B $10.5B – $14.0B	17.5% 15.0% – 21.0%	67.5% 64.0% – 72.0%
Synchrony Financial	SYF	middle	Financial Services	$34.4B	$34.1B $24.0B – $46.0B	14.5% 10.0% – 20.0%	57.5% 35.0% – 90.0%
Xylem Inc.	XYL	SHORT	Capital Goods	$34.4B	$11.5B $10.2B – $13.6B	12.5% 9.0% – 16.0%	45.0% 35.0% – 65.0%
Live Nation Entertainment	LYV	SHORT	Media & Entertainment	$34.2B	$33.6B $25.0B – $41.0B	2.0% -2.0% – 5.0%	3.8% 0.0% – 25.0%
Arch Capital Group	ACGL	LONG	Insurance	$34.1B	$28.5B $22.2B – $36.3B	18.0% 12.0% – 25.0%	40.0% 10.0% – 75.0%
Humana	HUM	SHORT	Insurance	$33.7B	$177B $155B – $209B	2.0% 1.0% – 3.0%	45.0% 30.0% – 65.0%
EQT Corporation	EQT	SHORT	Energy	$33.3B	$8.50B $5.80B – $12.5B	15.0% 5.0% – 25.0%	45.0% 25.0% – 65.0%
Raymond James Financial	RJF	middle	Financial Services	$33.2B	$21.5B $17.0B – $29.4B	14.5% 11.0% – 18.0%	56.5% 35.0% – 75.0%
Ingersoll Rand	IR	SHORT	Capital Goods	$33.1B	$12.7B $10.1B – $14.5B	14.0% 11.0% – 17.0%	38.0% 25.0% – 50.0%
NRG Energy	NRG	LONG	Utilities	$32.9B	$33.0B $25.0B – $45.0B	5.0% 1.0% – 10.0%	79.0% 60.0% – 95.0%
Fifth Third Bancorp	FITB	LONG	Banks	$32.9B	$10.6B $9.40B – $12.3B	23.0% 15.0% – 28.0%	60.0% 45.0% – 75.0%
M&T Bank	MTB	middle	Banks	$32.5B	$12.8B $9.50B – $17.0B	23.0% 17.0% – 30.0%	46.5% 30.0% – 75.0%
Kimberly-Clark	KMB	LONG	Household & Personal Products	$32.4B	$22.3B $18.9B – $26.0B	14.0% 10.0% – 16.0%	74.0% 55.0% – 95.0%
Willis Towers Watson	WTW	SHORT	Commercial & Professional Services	$32.2B	$13.3B $11.5B – $16.3B	14.0% 8.0% – 18.0%	72.8% 45.0% – 95.0%
Kenvue	KVUE	SHORT	Household & Personal Products	$32.1B	$18.1B $15.7B – $21.9B	11.5% 7.0% – 17.0%	65.0% 55.0% – 80.0%
Dollar General	DG	middle	Consumer Staples Distribution & Retail	$31.8B	$51.0B $43.6B – $62.0B	4.0% 3.0% – 5.0%	62.5% 35.0% – 90.0%
Hewlett Packard Enterprise	HPE	LONG	Technology Hardware & Equipment	$31.7B	$46.4B $36.7B – $59.0B	6.5% 3.0% – 10.0%	60.0% 30.0% – 75.0%
Verisk Analytics	VRSK	SHORT	Insurance	$30.8B	$4.41B $3.90B – $5.01B	34.5% 28.0% – 42.0%	67.5% 35.0% – 90.0%
Mettler Toledo	MTD	SHORT	Pharmaceuticals, Biotechnology & Life Sciences	$30.3B	$5.20B $4.49B – $5.81B	23.0% 20.0% – 26.0%	95.0% 60.0% – 100.0%
Ulta Beauty	ULTA	LONG	Consumer Discretionary Distribution & Retail	$30.1B	$14.5B $13.1B – $16.6B	9.0% 7.0% – 12.0%	75.0% 55.0% – 95.0%
Fox Corporation	FOXA, FOX	SHORT	Media & Entertainment	$30.1B	$15.8B $13.2B – $18.9B	11.0% 7.0% – 14.0%	75.0% 50.0% – 95.0%
Vici Properties	VICI	skipped	Equity Real Estate Investment Trusts (REITs)	$29.8B	$5.26B $4.50B – $6.20B	69.0% 60.0% – 75.0%	75.0% 65.0% – 85.0%
Archer Daniels Midland	ADM	SHORT	Food, Beverage & Tobacco	$29.1B	$95.0B $80.0B – $115B	3.0% 2.0% – 5.0%	55.0% 35.0% – 85.0%
Kellanova	K	SHORT	Food, Beverage & Tobacco	$29.0B	$17.1B $14.4B – $19.5B	11.0% 7.0% – 15.0%	52.3% 35.0% – 65.0%
First Solar	FSLR	SHORT	Semiconductors & Semiconductor Equipment	$28.8B	$7.75B $5.40B – $11.0B	19.0% 10.0% – 28.0%	5.0% 0.0% – 25.0%
Rollins, Inc.	ROL	skipped	Commercial & Professional Services	$28.8B	$5.39B $4.70B – $6.70B	14.3% 12.0% – 17.0%	68.0% 55.0% – 75.0%
Extra Space Storage	EXR	SHORT	Equity Real Estate Investment Trusts (REITs)	$28.8B	$4.55B $3.90B – $5.20B	32.0% 25.0% – 40.0%	95.0% 80.0% – 98.0%
CoStar Group	CSGP	SHORT	Software & Services	$28.5B	$6.03B $4.50B – $7.60B	18.0% 8.0% – 25.0%	15.0% 0.0% – 40.0%
Dover Corporation	DOV	SHORT	Capital Goods	$27.9B	$9.95B $8.70B – $11.3B	15.0% 12.0% – 19.0%	35.0% 25.0% – 50.0%
Kraft Heinz	KHC	middle	Food, Beverage & Tobacco	$27.8B	$28.6B $24.5B – $32.2B	11.0% 8.0% – 14.0%	65.0% 50.0% – 85.0%
Brown & Brown	BRO	middle	Insurance	$27.4B	$10.9B $7.50B – $12.8B	21.0% 18.0% – 25.0%	22.0% 15.0% – 35.0%
Halliburton	HAL	LONG	Energy	$27.3B	$28.0B $20.0B – $35.0B	10.0% 5.0% – 14.0%	50.0% 35.0% – 65.0%
Dexcom	DXCM	middle	Health Care Equipment & Services	$27.3B	$10.1B $6.50B – $15.0B	18.0% 12.0% – 25.0%	30.0% 5.0% – 60.0%
Charter Communications	CHTR	middle	Telecommunication Services	$27.3B	$60.5B $51.9B – $66.0B	8.5% 5.0% – 12.0%	67.5% 10.0% – 100.0%
Northern Trust	NTRS	LONG	Financial Services	$27.3B	$9.95B $8.05B – $11.8B	16.5% 12.0% – 24.0%	65.0% 35.0% – 95.0%
Tapestry, Inc.	TPR	skipped	Consumer Durables & Apparel	$27.3B	$8.20B $7.40B – $9.50B	13.0% 10.0% – 17.0%	62.5% 30.0% – 95.0%
Ameren	AEE	SHORT	Utilities	$27.2B	$10.4B $8.60B – $12.1B	15.0% 13.0% – 18.0%	60.0% 55.0% – 65.0%
Lennar	LEN	middle	Real Estate Management & Development	$27.1B	$47.8B $39.9B – $65.0B	10.0% 7.0% – 15.0%	50.0% 25.0% – 75.0%
Atmos Energy	ATO	LONG	Utilities	$27.1B	$6.40B $5.41B – $7.80B	25.5% 22.0% – 29.0%	50.0% 45.0% – 55.0%
DTE Energy	DTE	middle	Utilities	$27.0B	$17.1B $14.5B – $19.7B	10.5% 9.0% – 12.0%	61.0% 55.0% – 68.0%
Biogen	BIIB	middle	Pharmaceuticals, Biotechnology & Life Sciences	$26.8B	$10.0B $7.50B – $13.0B	23.5% 15.0% – 35.0%	47.5% 0.0% – 70.0%
Huntington Bancshares	HBAN	middle	Banks	$26.7B	$16.1B $13.5B – $17.8B	19.0% 15.0% – 22.0%	50.0% 35.0% – 65.0%
Citizens Financial Group	CFG	SHORT	Banks	$26.7B	$14.7B $11.5B – $18.6B	18.0% 12.0% – 25.0%	46.5% 35.0% – 75.0%
Dollar Tree	DLTR	middle	Consumer Staples Distribution & Retail	$26.6B	$24.3B $21.5B – $28.0B	5.5% 2.0% – 9.0%	37.5% 12.0% – 75.0%
W. R. Berkley Corporation	WRB	SHORT	Insurance	$26.6B	$21.0B $17.2B – $27.0B	12.0% 7.0% – 16.0%	50.0% 30.0% – 80.0%
Veralto	VLTO	skipped	Capital Goods	$26.6B	$7.10B $6.20B – $8.50B	18.0% 16.0% – 21.0%	37.5% 15.0% – 60.0%
Tractor Supply	TSCO	middle	Consumer Discretionary Distribution & Retail	$26.6B	$22.3B $18.8B – $25.0B	8.0% 7.0% – 9.0%	67.5% 40.0% – 90.0%
Cboe Global Markets	CBOE	middle	Financial Services	$26.2B	$6.35B $5.20B – $7.70B	20.0% 15.0% – 26.0%	60.0% 40.0% – 75.0%
AvalonBay Communities	AVB	LONG	Equity Real Estate Investment Trusts (REITs)	$26.0B	$3.95B $3.50B – $4.80B	35.0% 18.0% – 45.0%	84.0% 65.0% – 95.0%
Equifax	EFX	LONG	Commercial & Professional Services	$26.0B	$9.02B $7.19B – $11.0B	13.0% 9.0% – 16.0%	90.0% 40.0% – 98.0%
FirstEnergy	FE	middle	Utilities	$25.9B	$17.6B $15.3B – $21.4B	10.0% 7.0% – 12.0%	65.0% 60.0% – 70.0%
Broadridge Financial Solutions	BR	SHORT	Software & Services	$25.9B	$9.70B $8.40B – $10.6B	13.5% 11.0% – 16.0%	65.0% 50.0% – 85.0%
PPL Corporation	PPL	SHORT	Utilities	$25.7B	$11.9B $9.70B – $14.6B	12.0% 9.0% – 15.0%	69.5% 55.0% – 85.0%
Steris	STE	SHORT	Health Care Equipment & Services	$25.5B	$7.68B $6.60B – $8.60B	13.0% 10.0% – 16.0%	55.0% 32.0% – 65.0%
Hubbell Incorporated	HUBB	skipped	Capital Goods	$25.4B	$7.74B $6.92B – $8.69B	15.0% 12.0% – 18.0%	45.0% 35.0% – 60.0%
Cincinnati Financial	CINF	middle	Insurance	$25.3B	$16.1B $13.5B – $20.1B	14.0% 5.0% – 20.0%	45.0% 25.0% – 75.0%
Leidos	LDOS	SHORT	Software & Services	$25.3B	$22.4B $19.5B – $25.1B	7.5% 4.0% – 10.0%	61.0% 25.0% – 95.0%
Steel Dynamics	STLD	SHORT	Materials	$25.2B	$24.2B $16.5B – $30.0B	8.5% 4.0% – 14.0%	50.0% 20.0% – 85.0%
Lululemon Athletica	LULU	LONG	Consumer Durables & Apparel	$25.2B	$18.6B $14.6B – $27.0B	16.5% 12.0% – 20.0%	43.5% 20.0% – 65.0%
Regions Financial Corporation	RF	middle	Banks	$25.2B	$12.2B $7.70B – $14.8B	24.5% 18.0% – 32.0%	55.0% 35.0% – 75.0%
Eversource Energy	ES	SHORT	Utilities	$25.2B	$16.8B $15.1B – $18.5B	10.0% 8.0% – 12.0%	63.0% 58.0% – 72.0%
Constellation Brands	STZ	SHORT	Food, Beverage & Tobacco	$25.1B	$11.8B $9.90B – $14.2B	20.0% 10.0% – 26.0%	55.0% 35.0% – 85.0%
American Water Works	AWK	skipped	Utilities	$25.1B	$6.67B $5.90B – $7.60B	22.5% 19.0% – 26.0%	57.5% 52.5% – 62.0%
Expand Energy	EXE	SHORT	Energy	$25.1B	$14.5B $10.5B – $19.0B	15.0% 5.0% – 25.0%	45.0% 25.0% – 65.0%
Iron Mountain	IRM	SHORT	Equity Real Estate Investment Trusts (REITs)	$25.1B	$10.1B $8.80B – $11.7B	5.5% 2.0% – 10.0%	80.0% 55.0% – 100.0%
Teledyne Technologies	TDY	SHORT	Technology Hardware & Equipment	$25.0B	$7.95B $6.90B – $9.50B	16.0% 13.0% – 18.0%	25.0% 5.0% – 60.0%
CenterPoint Energy	CNP	SHORT	Utilities	$25.0B	$12.5B $10.3B – $14.5B	12.0% 9.0% – 15.0%	58.3% 48.0% – 70.0%
ON Semiconductor	ON	LONG	Semiconductors & Semiconductor Equipment	$24.9B	$12.4B $9.50B – $19.9B	26.5% 15.0% – 35.0%	40.5% 20.0% – 60.0%
Jabil	JBL	LONG	Technology Hardware & Equipment	$24.0B	$37.0B $29.8B – $43.0B	4.0% 2.0% – 6.0%	73.5% 40.0% – 97.0%
Waters Corporation	WAT	SHORT	Pharmaceuticals, Biotechnology & Life Sciences	$23.8B	$6.72B $3.79B – $10.0B	26.0% 22.0% – 30.0%	37.5% 5.0% – 75.0%
T. Rowe Price	TROW	middle	Financial Services	$23.8B	$8.84B $7.10B – $11.5B	27.0% 22.0% – 34.0%	58.0% 45.0% – 75.0%
Equity Residential	EQR	middle	Equity Real Estate Investment Trusts (REITs)	$23.7B	$3.56B $3.26B – $3.88B	32.0% 28.0% – 36.0%	85.0% 70.0% – 100.0%
PPG Industries	PPG	middle	Materials	$23.7B	$19.8B $17.4B – $24.0B	9.0% 6.0% – 11.0%	65.0% 45.0% – 95.0%
PulteGroup	PHM	LONG	Real Estate Management & Development	$23.6B	$23.3B $17.5B – $29.0B	13.5% 8.0% – 18.0%	45.0% 25.0% – 65.0%
KeyCorp	KEY	SHORT	Banks	$23.6B	$9.12B $6.00B – $13.7B	15.0% 8.0% – 25.0%	57.5% 35.0% – 85.0%
Williams-Sonoma, Inc.	WSM	SHORT	Consumer Discretionary Distribution & Retail	$23.5B	$9.95B $8.50B – $12.0B	13.0% 8.0% – 15.0%	72.5% 40.0% – 95.0%
General Mills	GIS	middle	Food, Beverage & Tobacco	$23.4B	$21.5B $19.5B – $23.7B	12.0% 10.0% – 14.0%	65.0% 55.0% – 75.0%
Edison International	EIX	LONG	Utilities	$23.3B	$23.1B $20.5B – $26.4B	9.0% 5.0% – 13.0%	55.0% 45.0% – 65.0%
Darden Restaurants	DRI	middle	Consumer Services	$23.1B	$15.4B $13.1B – $16.9B	8.5% 7.0% – 10.5%	65.0% 50.0% – 88.0%
Verisign	VRSN	SHORT	Software & Services	$22.8B	$2.13B $1.81B – $2.50B	53.0% 48.0% – 60.0%	95.0% 75.0% – 100.0%
Devon Energy	DVN	middle	Energy	$22.5B	$17.5B $12.0B – $25.0B	18.0% 10.0% – 30.0%	65.0% 35.0% – 85.0%
Centene Corporation	CNC	LONG	Health Care Equipment & Services	$22.5B	$242B $189B – $274B	2.0% 1.0% – 4.0%	54.0% 20.0% – 95.0%
Ralph Lauren Corporation	RL	skipped	Consumer Durables & Apparel	$22.0B	$8.64B $7.81B – $10.2B	12.0% 8.0% – 14.0%	65.0% 45.0% – 95.0%
Southwest Airlines	LUV	LONG	Transportation	$22.0B	$36.3B $30.0B – $42.4B	6.0% 2.0% – 12.0%	52.5% 15.0% – 95.0%
Loews Corporation	L	SHORT	Insurance	$21.7B	$22.7B $17.6B – $28.3B	8.0% 5.0% – 11.0%	50.0% 15.0% – 75.0%
International Paper	IP	SHORT	Materials	$21.6B	$32.1B $19.8B – $39.8B	6.0% 2.0% – 12.0%	65.0% 40.0% – 95.0%
Labcorp	LH	SHORT	Health Care Equipment & Services	$21.6B	$17.6B $15.0B – $20.0B	8.0% 6.0% – 10.0%	55.0% 35.0% – 85.0%
CMS Energy	CMS	middle	Utilities	$21.4B	$9.23B $8.50B – $10.7B	12.5% 9.0% – 15.0%	60.0% 55.0% – 65.0%
NetApp	NTAP	middle	Software & Services	$21.1B	$8.22B $6.00B – $12.0B	19.0% 12.0% – 25.0%	75.0% 45.0% – 95.0%
Expeditors International	EXPD	SHORT	Transportation	$21.1B	$13.9B $12.0B – $15.9B	7.0% 5.0% – 9.0%	57.5% 34.0% – 90.0%
Smurfit Westrock	SW	LONG	Materials	$21.0B	$44.5B $38.9B – $51.1B	7.0% 4.0% – 10.0%	47.5% 35.0% – 65.0%
Incyte	INCY	SHORT	Pharmaceuticals, Biotechnology & Life Sciences	$20.9B	$5.00B $3.50B – $7.00B	13.5% 5.0% – 25.0%	10.0% 0.0% – 50.0%
PTC Inc.	PTC	SHORT	Software & Services	$20.9B	$3.90B $3.20B – $4.84B	22.5% 15.0% – 30.0%	60.0% 28.0% – 95.0%
Insulet Corporation	PODD	SHORT	Health Care Equipment & Services	$20.7B	$5.00B $3.80B – $6.22B	22.0% 15.0% – 26.0%	7.5% 2.0% – 15.0%
NVR, Inc.	NVR	SHORT	Consumer Durables & Apparel	$20.6B	$13.7B $10.1B – $16.7B	15.0% 10.0% – 18.0%	80.0% 50.0% – 97.0%
Church & Dwight	CHD	SHORT	Household & Personal Products	$20.5B	$7.70B $6.98B – $9.20B	14.5% 9.0% – 18.0%	60.0% 45.0% – 75.0%
Corpay	CPAY	middle	Financial Services	$20.4B	$7.50B $6.00B – $9.30B	28.0% 22.0% – 35.0%	75.0% 40.0% – 100.0%
HP Inc.	HPQ	middle	Technology Hardware & Equipment	$20.3B	$61.0B $52.0B – $68.0B	5.0% 3.0% – 7.0%	85.0% 45.0% – 100.0%
Texas Pacific Land Corporation	TPL	SHORT	Energy	$20.3B	$1.50B $0.80B – $2.50B	65.0% 55.0% – 75.0%	45.0% 25.0% – 85.0%
West Pharmaceutical Services	WST	SHORT	Health Care Equipment & Services	$20.2B	$4.00B $3.50B – $4.85B	19.0% 15.0% – 24.0%	52.5% 25.0% – 95.0%
Principal Financial Group	PFG	middle	Financial Services	$20.2B	$20.2B $17.0B – $23.6B	11.0% 7.0% – 15.0%	77.5% 55.0% – 95.0%
Quest Diagnostics	DGX	middle	Health Care Equipment & Services	$20.1B	$13.4B $11.9B – $14.4B	10.5% 7.0% – 13.0%	59.0% 35.0% – 75.0%
SBA Communications	SBAC	middle	Equity Real Estate Investment Trusts (REITs)	$20.0B	$3.45B $3.00B – $3.90B	31.5% 20.0% – 40.0%	84.0% 50.0% – 98.0%
NiSource	NI	SHORT	Utilities	$20.0B	$7.75B $6.80B – $8.90B	13.0% 10.0% – 16.0%	65.0% 55.0% – 75.0%
C.H. Robinson	CHRW	SHORT	Transportation	$19.8B	$22.8B $19.0B – $30.0B	3.8% 2.0% – 5.0%	75.0% 55.0% – 100.0%
Amcor	AMCR	middle	Materials	$19.8B	$18.6B $15.5B – $26.0B	6.8% 5.0% – 8.0%	85.0% 60.0% – 100.0%
Tyson Foods	TSN	SHORT	Food, Beverage & Tobacco	$19.8B	$64.8B $55.0B – $72.0B	3.3% 1.0% – 6.0%	57.5% 25.0% – 79.7%
J.B. Hunt	JBHT	middle	Transportation	$19.6B	$16.1B $13.6B – $22.0B	6.0% 3.0% – 8.0%	55.0% 35.0% – 85.0%
Trimble Inc.	TRMB	middle	Technology Hardware & Equipment	$19.4B	$5.20B $4.20B – $6.80B	17.0% 12.0% – 25.0%	40.0% 15.0% – 70.0%
Trade Desk (The)	TTD	SHORT	Software & Services	$19.2B	$8.55B $5.50B – $12.5B	19.0% 12.0% – 28.0%	37.5% 10.0% – 75.0%
Tyler Technologies	TYL	SHORT	Software & Services	$19.1B	$3.70B $3.20B – $4.10B	22.0% 14.0% – 27.0%	10.0% 0.0% – 35.0%
Coterra	CTRA	SHORT	Energy	$19.1B	$9.62B $6.50B – $13.5B	23.5% 10.0% – 35.0%	62.5% 40.0% – 85.0%
Packaging Corporation of America	PKG	SHORT	Materials	$19.0B	$10.3B $9.20B – $11.6B	10.0% 8.0% – 12.0%	62.5% 45.0% – 85.0%
Zimmer Biomet	ZBH	middle	Health Care Equipment & Services	$18.8B	$10.4B $9.10B – $11.3B	14.0% 10.0% – 18.0%	66.0% 45.0% – 95.0%
Albemarle Corporation	ALB	LONG	Materials	$18.6B	$14.1B $8.25B – $22.3B	18.0% 5.0% – 30.0%	35.0% 15.0% – 60.0%
Snap-on	SNA	SHORT	Capital Goods	$18.6B	$5.88B $4.90B – $6.70B	23.0% 20.0% – 26.0%	65.0% 55.0% – 80.0%
McCormick & Company	MKC	SHORT	Food, Beverage & Tobacco	$18.3B	$9.00B $8.00B – $10.1B	12.0% 10.0% – 14.0%	63.5% 52.0% – 80.0%
Global Payments	GPN	LONG	Software & Services	$18.2B	$16.4B $14.6B – $18.3B	17.0% 12.0% – 21.0%	65.0% 35.0% – 92.1%
Lennox International	LII	middle	Capital Goods	$18.2B	$7.45B $6.50B – $8.50B	16.0% 13.0% – 19.0%	61.5% 35.0% – 85.0%
Supermicro	SMCI	LONG	Technology Hardware & Equipment	$18.2B	$65.0B $35.0B – $100B	7.5% 4.0% – 12.0%	15.0% 0.0% – 35.0%
Dow Inc.	DOW	skipped	Materials	$18.1B	$54.5B $43.0B – $65.0B	6.0% 2.0% – 10.0%	65.0% 45.0% – 85.0%
Aptiv	APTV	LONG	Automobiles & Components	$17.9B	$32.5B $18.0B – $45.0B	12.0% 5.0% – 16.0%	35.0% 15.0% – 60.0%
Gartner	IT	middle	Software & Services	$17.6B	$9.20B $7.90B – $10.5B	17.5% 12.0% – 23.0%	55.0% 35.0% – 75.0%
International Flavors & Fragrances	IFF	middle	Materials	$17.6B	$13.5B $11.6B – $15.5B	8.0% 4.0% – 12.0%	50.0% 35.0% – 65.0%
Fortive	FTV	middle	Capital Goods	$17.6B	$7.90B $7.20B – $8.60B	15.0% 12.0% – 18.0%	47.5% 40.0% – 65.0%
CDW Corporation	CDW	SHORT	Technology Hardware & Equipment	$17.5B	$30.6B $25.1B – $39.6B	5.8% 4.5% – 7.0%	61.3% 32.0% – 80.0%
Weyerhaeuser	WY	LONG	Equity Real Estate Investment Trusts (REITs)	$17.3B	$8.95B $6.50B – $11.5B	9.5% 4.0% – 18.0%	85.0% 65.0% – 98.0%
Genuine Parts Company	GPC	middle	Automobiles & Components	$17.3B	$32.5B $28.3B – $35.8B	5.0% 4.0% – 6.0%	66.5% 55.0% – 85.0%
Invitation Homes	INVH	middle	Equity Real Estate Investment Trusts (REITs)	$17.2B	$3.53B $3.10B – $4.17B	22.0% 15.0% – 28.0%	92.5% 65.0% – 100.0%
Fabrinet	FN	—	Technology Hardware & Equipment	$17.2B	$5.70B $4.10B – $7.00B	11.0% 8.0% – 14.0%	16.5% 5.0% – 35.0%
News Corp	NWS, NWSA	SHORT	Media & Entertainment	$17.1B	$9.50B $8.00B – $13.5B	5.0% 2.0% – 10.0%	60.0% 25.0% – 95.0%
Pentair	PNR	SHORT	Capital Goods	$17.1B	$5.50B $4.50B – $6.70B	16.5% 14.0% – 22.0%	39.0% 25.0% – 60.0%
Evergy	EVRG	SHORT	Utilities	$16.8B	$7.50B $6.77B – $8.50B	15.0% 13.0% – 17.0%	65.0% 60.0% – 70.0%
Alliant Energy	LNT	SHORT	Utilities	$16.8B	$5.50B $4.22B – $6.30B	18.0% 16.0% – 22.0%	65.0% 60.0% – 75.0%
Hologic	HOLX	middle	Health Care Equipment & Services	$16.7B	$5.20B $4.80B – $5.90B	16.0% 12.0% – 20.0%	45.0% 25.0% – 70.0%
Essex Property Trust	ESS	SHORT	Equity Real Estate Investment Trusts (REITs)	$16.5B	$2.31B $2.06B – $2.52B	38.0% 30.0% – 48.0%	83.5% 70.0% – 95.0%
Cooper Companies (The)	COO	SHORT	Health Care Equipment & Services	$16.5B	$5.85B $5.20B – $6.90B	12.5% 8.0% – 16.0%	17.5% 0.0% – 40.0%
Jacobs Solutions	J	LONG	Commercial & Professional Services	$16.3B	$17.3B $15.4B – $19.3B	8.8% 7.0% – 11.0%	65.0% 35.0% – 85.0%
GoDaddy	GDDY	middle	Software & Services	$16.2B	$6.60B $6.10B – $7.70B	22.0% 15.0% – 28.0%	65.0% 30.0% – 95.0%
Mid-America Apartment Communities	MAA	SHORT	Equity Real Estate Investment Trusts (REITs)	$16.2B	$2.65B $2.40B – $2.90B	26.0% 18.0% – 33.0%	95.0% 80.0% – 110.0%
Gen Digital	GEN	LONG	Software & Services	$16.2B	$7.27B $5.90B – $8.76B	25.0% 18.0% – 35.0%	62.5% 35.0% – 95.0%
Textron	TXT	LONG	Capital Goods	$15.9B	$17.1B $15.0B – $19.4B	7.0% 5.0% – 9.0%	80.0% 25.0% – 100.0%
F5, Inc.	FFIV	middle	Software & Services	$15.7B	$4.11B $3.56B – $4.72B	24.0% 18.0% – 28.0%	75.0% 40.0% – 95.0%
Deckers Brands	DECK	LONG	Consumer Durables & Apparel	$15.7B	$7.47B $6.10B – $9.65B	19.0% 14.0% – 23.0%	60.0% 31.0% – 85.0%
Omnicom Group	OMC	SHORT	Media & Entertainment	$15.4B	$27.1B $16.6B – $37.4B	10.0% 7.0% – 12.0%	75.0% 60.0% – 95.0%
Universal Health Services	UHS	LONG	Health Care Equipment & Services	$15.3B	$21.9B $19.1B – $25.1B	7.0% 5.0% – 9.0%	45.0% 15.0% – 85.0%
Best Buy	BBY	SHORT	Consumer Discretionary Distribution & Retail	$15.1B	$41.8B $35.0B – $50.0B	2.5% 1.0% – 4.0%	57.5% 35.0% – 85.0%
LyondellBasell	LYB	middle	Materials	$14.8B	$48.5B $38.0B – $65.0B	7.5% 3.0% – 12.0%	67.5% 40.0% – 95.0%
Ball Corporation	BALL	SHORT	Materials	$14.6B	$15.4B $13.3B – $17.0B	6.5% 4.0% – 9.0%	70.0% 45.0% – 90.0%
Huntington Ingalls Industries	HII	middle	Capital Goods	$14.4B	$15.0B $13.0B – $16.5B	7.0% 5.0% – 8.0%	45.0% 35.0% – 55.0%
Viatris	VTRS	LONG	Pharmaceuticals, Biotechnology & Life Sciences	$14.3B	$15.2B $12.5B – $18.0B	8.0% 2.0% – 15.0%	45.0% 25.0% – 65.0%
Avery Dennison	AVY	middle	Materials	$14.1B	$11.7B $10.0B – $13.4B	10.0% 6.0% – 12.0%	73.8% 55.0% – 90.0%
Allegion	ALLE	skipped	Capital Goods	$14.1B	$5.70B $4.50B – $6.50B	17.0% 14.0% – 20.0%	52.5% 35.0% – 70.0%
Nordson Corporation	NDSN	middle	Capital Goods	$14.1B	$3.96B $3.25B – $4.50B	18.5% 15.0% – 22.0%	50.0% 35.0% – 73.0%
Everest Group	EG	skipped	Insurance	$14.0B	$30.4B $20.0B – $50.0B	10.0% 4.0% – 16.0%	48.0% 30.0% – 75.0%
Bunge Global	BG	LONG	Food, Beverage & Tobacco	$13.9B	$112B $95.0B – $135B	3.0% 1.0% – 5.0%	45.0% 30.0% – 65.0%
Moderna	MRNA	LONG	Pharmaceuticals, Biotechnology & Life Sciences	$13.9B	$8.30B $3.50B – $15.0B	15.0% -15.0% – 45.0%	10.0% 0.0% – 50.0%
Kimco Realty	KIM	middle	Equity Real Estate Investment Trusts (REITs)	$13.8B	$2.50B $2.10B – $3.00B	25.0% 15.0% – 35.0%	85.0% 60.0% – 100.0%
IDEX Corporation	IEX	middle	Capital Goods	$13.8B	$4.60B $4.10B – $5.20B	16.0% 13.0% – 19.0%	42.5% 35.0% – 55.0%
Domino's	DPZ	SHORT	Consumer Services	$13.7B	$6.68B $5.80B – $7.47B	12.5% 10.0% – 14.0%	62.5% 40.0% – 85.0%
Jack Henry & Associates	JKHY	SHORT	Software & Services	$13.5B	$3.27B $2.80B – $3.72B	18.5% 15.0% – 22.0%	46.5% 35.0% – 75.0%
Healthpeak Properties	DOC	LONG	Equity Real Estate Investment Trusts (REITs)	$13.4B	$3.60B $3.20B – $4.10B	13.0% 8.0% – 18.0%	85.0% 70.0% – 95.0%
Masco	MAS	SHORT	Capital Goods	$13.2B	$9.55B $8.00B – $11.0B	13.0% 9.0% – 15.0%	62.5% 35.0% – 100.0%
Franklin Resources	BEN	SHORT	Financial Services	$13.2B	$9.00B $7.00B – $12.0B	8.0% 7.0% – 10.0%	75.0% 55.0% – 95.0%
Erie Indemnity	ERIE	SHORT	Insurance	$13.2B	$6.00B $5.00B – $6.90B	14.0% 10.0% – 18.0%	48.0% 38.0% – 60.0%
Zebra Technologies	ZBRA	middle	Technology Hardware & Equipment	$13.1B	$8.10B $6.00B – $11.5B	12.0% 8.0% – 16.0%	27.5% 10.0% – 60.0%
Solventum	SOLV	middle	Health Care Equipment & Services	$12.8B	$9.81B $8.40B – $12.0B	17.0% 12.0% – 22.0%	37.5% 15.0% – 65.0%
Akamai Technologies	AKAM	LONG	Software & Services	$12.8B	$6.15B $4.50B – $7.90B	14.0% 8.0% – 18.0%	85.0% 40.0% – 100.0%
Regency Centers	REG	middle	Equity Real Estate Investment Trusts (REITs)	$12.7B	$1.86B $1.59B – $2.34B	27.0% 20.0% – 34.0%	95.0% 75.0% – 110.0%
Wynn Resorts	WYNN	SHORT	Consumer Services	$12.6B	$10.5B $8.60B – $12.5B	10.0% 5.0% – 15.0%	45.0% 20.0% – 65.0%
Invesco	IVZ	SHORT	Financial Services	$12.6B	$7.90B $5.90B – $9.63B	12.0% 5.0% – 18.0%	60.0% 35.0% – 85.0%
Hormel Foods	HRL	SHORT	Food, Beverage & Tobacco	$12.6B	$14.2B $13.0B – $15.5B	7.0% 6.0% – 9.0%	70.0% 55.0% – 85.0%
Host Hotels & Resorts	HST	skipped	Equity Real Estate Investment Trusts (REITs)	$12.6B	$7.20B $6.20B – $8.10B	13.0% 8.0% – 18.0%	92.0% 75.0% – 98.0%
Stanley Black & Decker	SWK	LONG	Capital Goods	$12.5B	$18.9B $16.0B – $23.1B	7.5% 3.0% – 12.0%	52.5% 35.0% – 80.0%
CF Industries	CF	LONG	Materials	$12.4B	$8.75B $6.50B – $12.0B	18.5% 10.0% – 30.0%	60.0% 30.0% – 95.0%
Builders FirstSource	BLDR	LONG	Materials	$12.3B	$22.6B $18.0B – $29.0B	7.0% 4.0% – 11.0%	63.6% 15.0% – 95.0%
Clorox	CLX	middle	Household & Personal Products	$12.3B	$8.70B $7.08B – $9.70B	11.5% 8.0% – 15.0%	75.0% 55.0% – 95.0%
Hasbro	HAS	skipped	Consumer Durables & Apparel	$12.2B	$5.50B $4.00B – $7.00B	10.0% 2.0% – 18.0%	65.0% 40.0% – 95.0%
UDR, Inc.	UDR	SHORT	Equity Real Estate Investment Trusts (REITs)	$12.2B	$2.10B $1.84B – $2.40B	10.5% 6.0% – 16.0%	82.5% 65.0% – 100.0%
Brown–Forman	BF.B	skipped	Food, Beverage & Tobacco	$12.2B	$5.29B $4.40B – $6.30B	22.5% 18.0% – 27.0%	65.0% 45.0% – 85.0%
EPAM Systems	EPAM	middle	Software & Services	$12.1B	$9.07B $6.90B – $11.5B	10.0% 7.0% – 12.0%	30.0% 5.0% – 70.0%
Align Technology	ALGN	LONG	Health Care Equipment & Services	$12.0B	$7.70B $5.30B – $13.7B	15.5% 11.0% – 22.0%	52.8% 15.0% – 95.0%
Assurant	AIZ	SHORT	Insurance	$11.8B	$15.2B $13.4B – $18.8B	6.0% 3.0% – 8.0%	65.0% 40.0% – 95.0%
Camden Property Trust	CPT	SHORT	Equity Real Estate Investment Trusts (REITs)	$11.7B	$2.00B $1.75B – $2.32B	22.0% 12.0% – 35.0%	75.0% 55.0% – 95.0%
Globe Life	GL	middle	Insurance	$11.1B	$7.74B $6.90B – $8.67B	17.5% 16.0% – 19.0%	67.5% 55.0% – 90.0%
Dayforce	DAY	LONG	Software & Services	$10.9B	$3.50B $2.80B – $6.00B	15.0% 5.0% – 22.0%	62.5% 21.4% – 97.6%
FactSet	FDS	middle	Software & Services	$10.9B	$3.10B $2.80B – $3.70B	24.0% 21.0% – 27.0%	45.0% 30.0% – 65.0%
Revvity	RVTY	middle	Pharmaceuticals, Biotechnology & Life Sciences	$10.8B	$4.05B $3.48B – $4.69B	20.0% 12.0% – 28.0%	57.5% 15.0% – 95.0%
Norwegian Cruise Line Holdings	NCLH	LONG	Consumer Services	$10.8B	$13.9B $12.0B – $17.5B	13.5% 5.0% – 18.0%	15.0% 0.0% – 40.0%
BXP, Inc.	BXP	SHORT	Equity Real Estate Investment Trusts (REITs)	$10.8B	$4.10B $3.40B – $5.20B	11.0% 3.0% – 20.0%	75.0% 45.0% – 95.0%
Charles River Laboratories	CRL	LONG	Pharmaceuticals, Biotechnology & Life Sciences	$10.6B	$5.75B $3.80B – $7.20B	11.0% 8.0% – 15.0%	37.5% 5.0% – 75.0%
AES Corporation	AES	LONG	Utilities	$10.6B	$16.0B $13.0B – $20.0B	8.5% 4.0% – 14.0%	55.0% 35.0% – 85.0%
Pinnacle West Capital	PNW	middle	Utilities	$10.5B	$6.60B $5.90B – $7.30B	11.0% 8.0% – 16.0%	71.3% 65.0% – 80.0%
J.M. Smucker Company (The)	SJM	SHORT	Food, Beverage & Tobacco	$10.2B	$9.90B $9.17B – $10.6B	9.5% 5.0% – 13.0%	65.0% 45.0% – 85.0%
Baxter International	BAX	middle	Health Care Equipment & Services	$10.2B	$14.8B $12.7B – $17.5B	10.0% 6.0% – 14.0%	45.0% 20.0% – 75.0%
Bio-Techne	TECH	middle	Pharmaceuticals, Biotechnology & Life Sciences	$10.2B	$2.10B $1.50B – $3.50B	22.0% 18.0% – 29.0%	45.0% 20.0% – 65.0%
A. O. Smith	AOS	LONG	Capital Goods	$10.2B	$5.25B $4.30B – $6.20B	15.0% 11.0% – 18.0%	80.0% 38.0% – 98.0%
MGM Resorts	MGM	LONG	Consumer Services	$9.8B	$24.8B $18.2B – $30.0B	7.5% 3.0% – 14.0%	50.0% 15.0% – 95.0%
Skyworks Solutions	SWKS	middle	Semiconductors & Semiconductor Equipment	$9.7B	$6.05B $3.90B – $9.00B	15.5% 8.0% – 25.0%	60.0% 25.0% – 85.0%
Molina Healthcare	MOH	middle	Health Care Equipment & Services	$9.5B	$64.5B $55.0B – $80.0B	3.0% 1.5% – 4.0%	32.5% 10.0% – 85.0%
Henry Schein	HSIC	SHORT	Health Care Equipment & Services	$9.2B	$18.0B $15.1B – $21.3B	4.0% 3.0% – 5.0%	55.0% 35.0% – 75.0%
Alexandria Real Estate Equities	ARE	LONG	Equity Real Estate Investment Trusts (REITs)	$9.1B	$4.85B $4.10B – $6.50B	15.0% 5.0% – 25.0%	87.5% 55.0% – 100.0%
APA Corporation	APA	LONG	Energy	$9.0B	$11.5B $7.40B – $18.0B	15.0% 5.0% – 25.0%	65.0% 40.0% – 90.0%
Interpublic Group of Companies (The)	IPG	LONG	Media & Entertainment	$8.9B	$12.6B $10.5B – $15.3B	8.0% 5.0% – 14.0%	75.0% 45.0% – 95.0%
Pool Corporation	POOL	LONG	Consumer Discretionary Distribution & Retail	$8.9B	$8.00B $6.30B – $9.40B	9.0% 7.0% – 13.0%	65.0% 40.0% – 85.0%
Paycom	PAYC	middle	Software & Services	$8.8B	$3.02B $2.50B – $4.50B	23.5% 18.0% – 32.0%	46.9% 25.0% – 70.0%
Federal Realty Investment Trust	FRT	LONG	Equity Real Estate Investment Trusts (REITs)	$8.7B	$1.55B $1.45B – $1.66B	25.5% 18.0% – 32.0%	95.0% 85.0% – 100.0%
Molson Coors Beverage Company	TAP	LONG	Food, Beverage & Tobacco	$8.7B	$12.1B $11.0B – $14.4B	10.0% 4.0% – 14.0%	60.0% 30.0% – 85.0%
Generac	GNRC	SHORT	Capital Goods	$8.5B	$6.90B $5.00B – $8.50B	10.0% 6.0% – 14.0%	20.0% 5.0% – 40.0%
Lamb Weston	LW	LONG	Food, Beverage & Tobacco	$8.3B	$7.95B $6.70B – $9.50B	9.5% 6.0% – 14.0%	57.5% 40.0% – 80.0%
DaVita	DVA	SHORT	Health Care Equipment & Services	$8.1B	$16.3B $14.0B – $18.8B	6.0% 4.0% – 8.0%	70.0% 25.0% – 100.0%
LKQ Corporation	LKQ	middle	Automobiles & Components	$8.1B	$17.4B $15.2B – $19.9B	6.0% 4.0% – 8.0%	55.0% 30.0% – 75.0%
Conagra Brands	CAG	middle	Food, Beverage & Tobacco	$8.1B	$12.5B $11.0B – $14.1B	8.0% 5.0% – 12.0%	59.0% 45.0% – 85.0%
Campbell's Company (The)	CPB	middle	Food, Beverage & Tobacco	$8.1B	$11.6B $10.5B – $13.5B	8.0% 4.0% – 10.0%	65.0% 45.0% – 85.0%
Mosaic Company (The)	MOS	SHORT	Materials	$8.0B	$14.1B $10.0B – $20.0B	10.0% 4.0% – 18.0%	55.0% 20.0% – 95.0%
Eastman Chemical Company	EMN	middle	Materials	$7.8B	$12.0B $10.0B – $14.7B	10.0% 7.0% – 14.0%	65.0% 45.0% – 85.0%
Match Group	MTCH	LONG	Media & Entertainment	$7.7B	$4.73B $3.90B – $6.20B	18.0% 12.0% – 25.0%	95.0% 50.0% – 100.0%
Mohawk Industries	MHK	skipped	Consumer Durables & Apparel	$6.9B	$13.3B $10.5B – $16.0B	6.0% 2.0% – 9.0%	31.5% 5.0% – 65.0%
CarMax	KMX	skipped	Consumer Discretionary Distribution & Retail	$5.8B	$31.3B $25.0B – $44.4B	3.0% 1.0% – 4.5%	55.0% 15.0% – 90.0%
Caesars Entertainment	CZR	middle	Consumer Services	—	$14.3B $11.5B – $18.0B	6.5% -5.0% – 15.0%	12.5% 0.0% – 40.0%
Enphase Energy	ENPH	LONG	Semiconductors & Semiconductor Equipment	—	$5.50B $3.50B – $8.00B	15.0% 8.0% – 22.0%	40.0% 15.0% – 75.0%
Paramount Global	PARA	LONG	Media & Entertainment	—	$32.0B $25.0B – $37.0B	5.0% -5.0% – 12.0%	25.0% 5.0% – 60.0%
Walgreens Boots Alliance	WBA	skipped	Consumer Staples Distribution & Retail	—	$178B $145B – $210B	1.5% -2.0% – 5.0%	35.0% 5.0% – 75.0%
Ionq, Inc.	IONQ	—	Technology Hardware & Equipment	—	$0.80B $0.10B – $2.25B	5.0% -100.0% – 25.0%	0.0% 0.0% – 3.0%
MarketAxess	MKTX	middle	Financial Services	—	$1.35B $1.10B – $1.70B	30.5% 24.0% – 36.0%	60.0% 45.0% – 85.0%
Monarch Casino & Resort, Inc.	MCRI	—	Consumer Services	—	$0.67B $0.59B – $0.77B	16.0% 12.0% – 20.0%	52.5% 25.0% – 100.0%
LendingClub Corporation	LC	—	Financial Services	—	$2.00B $1.10B – $4.00B	9.0% 3.0% – 20.0%	5.0% 0.0% – 30.0%
AMC Entertainment Holdings, Inc.	AMC	—	Media & Entertainment	—	$4.90B $3.50B – $6.70B	-3.5% -15.0% – 5.0%	0.0% 0.0% – 25.0%
Sprouts Farmers Market Inc.	SFM	—	Consumer Staples Distribution & Retail	—	$13.5B $11.0B – $16.1B	5.8% 4.0% – 7.5%	67.5% 20.0% – 95.0%
Century Aluminum Company	CENX	—	Materials	—	$3.25B $2.50B – $6.00B	6.0% -5.0% – 18.0%	5.0% 0.0% – 40.0%
ManpowerGroup	MAN	—	Commercial & Professional Services	—	$19.4B $16.5B – $25.0B	2.0% 1.0% – 3.0%	60.0% 25.0% – 98.0%
Centuri Holdings, Inc.	CTRI	—	Utilities	—	$3.57B $3.10B – $4.90B	4.0% 1.0% – 7.0%	37.5% 0.0% – 65.0%
The Ensign Group, Inc.	ENSG	—	Health Care Equipment & Services	—	$8.40B $6.40B – $10.5B	7.0% 5.0% – 9.0%	9.3% 4.5% – 25.0%
DXP Enterprises, Inc.	DXPE	—	Capital Goods	—	$2.70B $2.22B – $3.60B	5.0% 3.0% – 7.0%	38.5% 15.0% – 85.0%
The Chemours Company	CC	—	Materials	—	$7.35B $5.50B – $9.50B	5.0% -2.0% – 12.0%	35.0% 15.0% – 65.0%
Planet Labs PBC	PL	—	Capital Goods	—	$0.55B $0.31B – $0.75B	5.0% -10.0% – 20.0%	0.0% 0.0% – 5.0%
Trinity Industries, Inc.	TRN	—	Capital Goods	—	$3.55B $2.50B – $4.60B	5.0% 2.0% – 9.0%	60.0% 35.0% – 95.0%
OFG Bancorp	OFG	—	Banks	—	$0.88B $0.77B – $1.24B	21.5% 12.0% – 28.0%	35.0% 25.0% – 55.0%
Brookdale Senior Living Inc.	BKD	—	Health Care Equipment & Services	—	$4.00B $3.30B – $4.60B	2.0% -5.0% – 7.0%	0.0% 0.0% – 15.0%
Pathward Financial, Inc.	CASH	—	Banks	—	$1.23B $0.92B – $2.30B	22.5% 17.0% – 28.0%	57.5% 30.0% – 85.0%
Energy Fuels Inc	UUUU	—	Materials	—	$1.15B $0.30B – $2.50B	13.5% -10.0% – 35.0%	7.5% 0.0% – 35.0%
WK Kellogg Co	KLG	—	Food, Beverage & Tobacco	—	$3.02B $2.40B – $3.70B	6.0% 2.0% – 10.0%	0.0% 0.0% – 15.0%
Acadia Healthcare Company, Inc.	ACHC	—	Health Care Equipment & Services	—	$4.90B $4.10B – $5.40B	7.0% 4.0% – 11.0%	27.1% 5.0% – 60.0%
NextNav Inc.	NN	—	Software & Services	—	$0.50B $0.05B – $2.50B	5.0% -50.0% – 25.0%	0.0% 0.0% – 10.0%
Joby Aviation Inc	JOBY	—	Capital Goods	—	$4.00B $0.50B – $7.50B	-10.0% -50.0% – 15.0%	0.0% 0.0% – 5.0%
DHT Holdings, Inc.	DHT	—	Transportation	—	$0.66B $0.35B – $1.30B	20.0% 5.0% – 35.0%	85.0% 20.0% – 100.0%
ZIM Integrated Shipping Services Ltd.	ZIM	—	Transportation	—	$8.50B $4.50B – $13.5B	6.0% -5.0% – 20.0%	35.0% 15.0% – 60.0%
Adient plc	ADNT	—	Automobiles & Components	—	$15.9B $13.5B – $19.2B	2.0% -2.0% – 6.0%	42.5% 10.0% – 85.0%
Federal Agricultural Mortgage Corporation	AGM	—	Financial Services	—	$0.71B $0.43B – $1.39B	30.0% 12.0% – 55.0%	40.0% 28.0% – 55.0%
Weis Markets, Inc.	WMK	—	Consumer Staples Distribution & Retail	—	$5.90B $5.20B – $6.40B	2.0% 1.0% – 3.0%	35.0% 25.0% – 45.0%
Constellium SED	CSTM	—	Materials	—	$9.90B $8.00B – $12.0B	3.0% 1.0% – 5.0%	35.0% 5.0% – 75.0%
Trupanion	TRUP	—	Insurance	—	$3.45B $2.20B – $5.00B	3.0% -1.0% – 8.0%	1.3% 0.0% – 15.0%
Hilltop Holdings Inc.	HTH	—	Financial Services	—	$1.85B $1.10B – $2.60B	10.0% 6.0% – 15.0%	50.0% 35.0% – 80.0%
Voyix Corporation	VYX	—	Software & Services	—	$3.55B $2.50B – $6.20B	10.0% 3.0% – 20.0%	25.0% 0.0% – 60.0%
Minerals Technologies Inc.	MTX	—	Materials	—	$2.80B $2.40B – $3.27B	8.0% 4.0% – 12.0%	47.5% 25.0% – 70.0%
EverCommerce Inc.	EVCM	—	Software & Services	—	$0.93B $0.65B – $1.27B	8.0% -2.0% – 15.0%	20.0% 0.0% – 60.0%
Intuitive Machines, Inc.	LUNR	—	Capital Goods	—	$0.95B $0.45B – $4.00B	5.0% -5.0% – 15.0%	0.0% 0.0% – 15.0%
American Eagle Outfitters, Inc.	AEO	—	Consumer Discretionary Distribution & Retail	—	$6.45B $5.60B – $7.00B	5.0% 2.0% – 8.0%	52.5% 35.0% – 85.0%
iQIYI, Inc.	IQ	—	Media & Entertainment	—	$4.65B $3.50B – $6.50B	4.5% 1.0% – 10.0%	1.8% 0.0% – 15.0%
International Seaways, Inc.	INSW	—	Transportation	—	$1.10B $0.50B – $1.90B	17.5% -5.0% – 40.0%	57.5% 20.0% – 95.0%
Chart Industries, Inc.	GTLS	—	Capital Goods	—	$7.85B $6.10B – $11.3B	10.0% 5.0% – 15.0%	47.5% 25.0% – 85.0%
Empire State Realty OP, L.P.	ESBA	—	Equity Real Estate Investment Trusts (REITs)	—	$0.91B $0.72B – $1.11B	7.0% 3.0% – 15.0%	60.0% 30.0% – 90.0%
Nicolet Bankshares Inc.	NIC	—	Banks	—	$0.79B $0.46B – $1.31B	29.0% 20.0% – 38.0%	37.5% 15.0% – 65.0%
Fresh Del Monte Produce, Inc.	FDP	—	Food, Beverage & Tobacco	—	$4.81B $4.28B – $5.68B	4.0% 1.0% – 6.0%	45.0% 25.0% – 65.0%
Kratos Defense & Security Solutions, Inc.	KTOS	—	Capital Goods	—	$2.60B $1.50B – $4.30B	5.0% 1.0% – 9.0%	0.0% 0.0% – 5.0%
Root, Inc.	ROOT	—	Insurance	—	$3.95B $1.90B – $8.10B	7.5% -5.0% – 15.0%	0.0% 0.0% – 25.0%
Cipher Mining Inc.	CIFR	—	Software & Services	—	$2.50B $0.40B – $10.2B	10.0% -20.0% – 40.0%	0.0% 0.0% – 5.0%
Sylvamo Corporation	SLVM	—	Materials	—	$4.15B $3.40B – $4.80B	7.0% 4.0% – 10.0%	50.0% 25.0% – 75.0%
LeMaitre Vascular, Inc.	LMAT	—	Health Care Equipment & Services	—	$0.41B $0.34B – $0.51B	22.0% 18.0% – 26.0%	45.0% 30.0% – 65.0%
Pinelawn Cemetery	PLWN	—	Consumer Services	—	$0.05B $0.04B – $0.06B	11.5% 5.0% – 20.0%	33.8% 0.0% – 95.0%
Amicus Therapeutics, Inc.	FOLD	—	Pharmaceuticals, Biotechnology & Life Sciences	—	$1.45B $1.00B – $2.00B	15.5% 2.0% – 35.0%	0.0% 0.0% – 15.0%
BigBear.ai, Inc.	BBAI	—	Software & Services	—	$0.28B $0.18B – $0.46B	2.0% -50.0% – 15.0%	0.0% 0.0% – 5.0%
Madison Square Garden Entertainment Corp.	MSGE	—	Media & Entertainment	—	$1.29B $1.03B – $1.52B	12.0% 5.0% – 18.0%	45.0% 3.0% – 90.0%
PHINPHINIA Inc.	PHIN	—	Automobiles & Components	—	$3.77B $2.80B – $4.54B	5.0% 3.0% – 8.0%	47.5% 25.0% – 85.0%
GLP Global Partners LP	GLP	—	Energy	—	$17.5B $10.5B – $22.0B	1.0% -1.0% – 3.0%	80.0% 45.0% – 95.0%
Olo Inc.	OLO	—	Software & Services	—	$0.73B $0.55B – $1.10B	9.0% 1.0% – 25.0%	0.0% 0.0% – 30.0%
Gibraltar Industries, Inc.	ROCK	—	Capital Goods	—	$1.65B $1.29B – $1.95B	12.0% 9.0% – 14.0%	25.0% 5.0% – 60.0%
Twist Bioscience Corporation	TWST	—	Pharmaceuticals, Biotechnology & Life Sciences	—	$0.93B $0.58B – $1.54B	5.0% -5.0% – 15.0%	0.0% 0.0% – 5.0%
Five9, Inc.	FIVN	—	Software & Services	—	$2.67B $1.75B – $3.43B	9.5% 2.0% – 19.0%	0.0% 0.0% – 15.0%
Ocular Therapeutix, Inc.	OCUL	—	Pharmaceuticals, Biotechnology & Life Sciences	—	$0.70B $0.08B – $1.95B	10.0% -100.0% – 30.0%	0.0% 0.0% – 10.0%
TeraWulf Inc.	WULF	—	Technology Hardware & Equipment	—	$1.34B $0.46B – $4.00B	11.0% -15.0% – 40.0%	3.8% 0.0% – 40.0%
Peabody Energy Corporation	BTU	—	Energy	—	$3.65B $2.10B – $5.20B	6.5% -5.0% – 15.0%	50.0% 20.0% – 85.0%
First Busey Corporation	BUSE	—	Banks	—	$0.94B $0.79B – $1.10B	22.5% 15.0% – 28.0%	47.5% 30.0% – 75.0%
XIFR Infrastructure, LP	XIFR	—	Utilities	—	$1.90B $1.23B – $2.84B	6.5% -5.0% – 15.0%	22.5% 0.0% – 85.0%
Liberty Energy Inc.	LBRT	—	Energy	—	$5.05B $3.50B – $7.50B	7.0% 3.0% – 13.0%	40.0% 15.0% – 75.0%
Wendy's Company (The)	WEN	—	Consumer Services	—	$3.02B $2.70B – $3.40B	9.0% 7.0% – 11.0%	75.0% 45.0% – 95.0%
Innospec Inc.	IOSP	—	Materials	—	$2.40B $2.00B – $2.90B	6.0% 3.0% – 10.0%	35.8% 25.0% – 60.0%
Denali Therapeutics Inc.	DNLI	—	Pharmaceuticals, Biotechnology & Life Sciences	—	$1.20B $0.30B – $4.00B	10.0% -150.0% – 40.0%	0.0% 0.0% – 5.0%
SharpLink Gaming, Inc.	SBET	—	Media & Entertainment	—	$0.32B $0.01B – $1.80B	2.5% -75.0% – 40.0%	0.0% 0.0% – 10.0%
Beam Therapeutics Inc.	BEAM	—	Pharmaceuticals, Biotechnology & Life Sciences	—	$0.90B $0.10B – $3.50B	0.0% -100.0% – 25.0%	0.0% 0.0% – 5.0%
Hertz Global Holdings, Inc	HTZ	—	Transportation	—	$11.3B $8.50B – $15.0B	4.0% -5.0% – 10.0%	15.0% 0.0% – 50.0%
Bank of N.T. Butterfield & Son Limited (The)	NTB	—	Banks	—	$0.83B $0.58B – $1.29B	31.0% 22.0% – 40.0%	63.0% 40.0% – 95.0%
Mach Natural Resources LPD	MNR	—	Energy	—	$2.05B $1.00B – $4.00B	15.0% 5.0% – 28.0%	88.5% 60.0% – 100.0%
ACM Research, Inc.	ACMR	—	Semiconductors & Semiconductor Equipment	—	$2.45B $1.20B – $4.00B	15.0% 8.0% – 20.0%	11.3% 0.0% – 40.0%
Ginkgo Bioworks	DNA	—	Pharmaceuticals, Biotechnology & Life Sciences	—	$2.50B $0.50B – $7.00B	5.0% -50.0% – 20.0%	0.0% 0.0% – 5.0%
Veracyte, Inc.	VCYT	—	Pharmaceuticals, Biotechnology & Life Sciences	—	$0.88B $0.64B – $1.28B	11.0% 2.0% – 20.0%	0.0% 0.0% – 5.0%
Endo, Inc.	NDOI	—	Pharmaceuticals, Biotechnology & Life Sciences	—	$2.60B $2.20B – $5.00B	14.5% 2.0% – 25.0%	0.0% 0.0% – 35.0%
O-I Glass, Inc.	OI	—	Materials	—	$7.80B $5.80B – $8.80B	5.0% 1.0% – 9.0%	25.0% 5.0% – 55.0%
Wolverine World Wide, Inc.	WWW	—	Consumer Durables & Apparel	—	$2.40B $2.00B – $2.90B	6.0% 3.0% – 9.0%	40.0% 20.0% – 60.0%
Kennametal Inc.	KMT	—	Capital Goods	—	$2.30B $1.90B – $2.64B	6.0% 3.0% – 11.0%	60.0% 40.0% – 85.0%
Standex International Corporation	SXI	—	Capital Goods	—	$1.12B $0.87B – $1.46B	12.5% 7.0% – 18.0%	39.0% 25.0% – 75.0%
Select Medical Holdings Corporation	SEM	—	Health Care Equipment & Services	—	$7.30B $6.10B – $8.10B	4.0% 2.0% – 6.0%	37.5% 15.0% – 65.0%
CSG Systems International, Inc.	CSGS	—	Software & Services	—	$1.50B $1.29B – $1.70B	8.0% 5.0% – 12.0%	67.5% 40.0% – 100.0%
NETSTREIT Corp.	NTST	—	Equity Real Estate Investment Trusts (REITs)	—	$0.34B $0.22B – $0.45B	5.0% -2.0% – 15.0%	85.0% 65.0% – 98.0%
Bridgebio Pharma Inc	BBIO	—	Pharmaceuticals, Biotechnology & Life Sciences	—	$3.50B $1.00B – $6.00B	17.5% -15.0% – 40.0%	0.0% 0.0% – 5.0%
Vicor Corporation	VICR	—	Semiconductors & Semiconductor Equipment	—	$1.15B $0.30B – $2.40B	13.5% 5.0% – 22.0%	16.3% 0.0% – 75.0%
Utz Brands Inc	UTZ	—	Food, Beverage & Tobacco	—	$1.76B $1.50B – $2.00B	5.0% 2.0% – 8.0%	55.0% 35.0% – 85.0%
Teradata Corporation	TDC	—	Software & Services	—	$1.95B $1.20B – $3.00B	8.0% 3.0% – 15.0%	70.0% 15.0% – 100.0%
Seadrill Limited	SDRL	—	Energy	—	$2.00B $1.60B – $2.60B	11.5% 3.0% – 25.0%	50.0% 10.0% – 80.0%
Kimbell Royalty Partners	KRP	—	Energy	—	$0.47B $0.31B – $0.94B	24.5% 12.0% – 40.0%	75.0% 40.0% – 100.0%
National Vision Holdings, Inc.	EYE	—	Health Care Equipment & Services	—	$2.67B $2.20B – $3.45B	3.0% 1.0% – 7.0%	11.3% 0.0% – 40.0%
The Vita Coco Company, Inc.	COCO	—	Food, Beverage & Tobacco	—	$1.05B $0.77B – $1.60B	12.0% 8.0% – 16.0%	25.0% 3.0% – 55.0%
1Life Healthcare, Inc.	ONEM	—	Health Care Equipment & Services	—	$6.30B $3.10B – $11.5B	2.0% -15.0% – 10.0%	0.0% 0.0% – 3.0%
Addus HomeCare Corporation	ADUS	—	Health Care Equipment & Services	—	$2.21B $1.73B – $2.80B	7.0% 5.0% – 9.0%	0.0% 0.0% – 5.0%
Hims & Hers Health, Inc.	HIMS	—	Health Care Equipment & Services	—	$6.50B $4.10B – $9.00B	11.5% 5.0% – 15.0%	20.0% 2.0% – 55.0%
Perdoceo Education Corporation	PRDO	—	Consumer Services	—	$0.88B $0.60B – $1.20B	18.0% 12.0% – 25.0%	37.5% 10.0% – 70.0%
WisdomTree, Inc.	WT	—	Financial Services	—	$0.80B $0.57B – $1.20B	18.0% 12.0% – 28.0%	50.0% 25.0% – 75.0%
Stewart Information Services Corporation	STC	—	Insurance	—	$3.23B $2.64B – $4.50B	4.0% 1.0% – 8.0%	65.0% 35.0% – 95.0%
Supernus Pharmaceuticals, Inc.	SUPN	—	Pharmaceuticals, Biotechnology & Life Sciences	—	$1.10B $0.72B – $1.70B	12.0% 5.0% – 20.0%	0.0% 0.0% – 10.0%
Credo Technology Group Holding Ltd	CRDO	—	Semiconductors & Semiconductor Equipment	—	$1.85B $0.80B – $4.00B	18.0% 5.0% – 28.0%	5.0% 0.0% – 25.0%
Hawaiian Electric Industries, Inc.	HE	—	Utilities	—	$4.28B $3.00B – $5.50B	6.0% 2.0% – 10.0%	40.0% 0.0% – 65.0%
Strategic Education, Inc.	STRA	—	Consumer Services	—	$1.63B $1.36B – $1.94B	9.5% 5.0% – 13.0%	62.5% 30.0% – 95.0%
Mister Car Wash, Inc.	MCW	—	Consumer Services	—	$1.42B $1.20B – $1.69B	8.5% 5.0% – 12.0%	15.0% 0.0% – 40.0%

The portfolio pairs each long name with shorts from the same GICS industry. Companies labelled skipped are the only name in their industry, so no industry-neutral pair was available; middle companies sit between the top 10% and bottom 50% buckets within their industry.