New Highs Growth
25 growing US companies worth $1B+ trading near their 52-week highs, spread across AI infrastructure, biotech, pharma, software and energy. Rebalanced monthly.
Backtest +20.5% a year vs S&P 500 +15.2% (2016–2026, hypothetical)25 holdings · updated Sep 30, 2026
Since it started being tracked live at the Oct 20 close, it is up 0.5%, while the S&P 500 was down 0.5% over the same days. That is 1.0 points ahead.
In a simulation on past data (2016–2026), these rules averaged a gain of 20.5% a year, against 15.2% a year for the S&P 500. A simulation is not a real result, and real results are usually lower.
Its deepest fall from a high in that simulation was 15.5% (the S&P 500's was 23.9%).
It holds 25 stocks and the rules re-run monthly; the next re-run is Oct 30.
This describes a research model. It is not advice, and no one's money is in it.
For information only · Important disclosures
| Period | New Highs Growth | S&P 500 (SPY) | Difference |
|---|---|---|---|
| 1D | +1.6% | +0.7% | +0.9 pts |
| YTD | +0.5% | -0.5% | +1.0 pts |
| Since start | +0.5% | -0.5% | +1.0 pts |
How it's measured · not investment advice
The published weights, held from the Oct 20, 2026 close and reset only at dated rebalances, valued at delayed daily closes (Yahoo Finance). No backtest figures. In the first year, YTD counts from the start close. Before fees, taxes and trading costs. Research only, not investment advice; SURVYR. doesn't manage money. Not yet: 1W, 1M, 3M, 6M, 1Y, until the live record is that long.
Model notes
New Highs Growth · Allocation Pie
25 positions · 100%Interactive weighting by individual position or sector/asset sleeve
Holdings (25)
As of the Sep 30, 2026 rebalance · bought LITE · sold JBL
PRAXPraxis Precision Medicines, Inc.Biotech · -25% from 52-week high · biotech, price-only entry · 12-1 momentum +569%
4.0%
LITELumentumAI Infrastructure · -8% from 52-week high · revenue +109% y/y · 12-1 momentum +463%
4.0%
RVMDRevolution Medicines, Inc.Biotech · -7% from 52-week high · biotech, price-only entry · 12-1 momentum +346%
4.0%
RLAYRelay Therapeutics, Inc.Biotech · -13% from 52-week high · biotech, price-only entry · 12-1 momentum +254%
4.0%
DELLDell TechnologiesAI Infrastructure · -9% from 52-week high · held: still within 25% of its high · 12-1 momentum +245%
4.0%
ETONEton Pharmaceuticals, Inc.Pharma · -20% from 52-week high · revenue +99% y/y · 12-1 momentum +169%
4.0%
KODKodiak Sciences Inc.Biotech · +0% from 52-week high · biotech, price-only entry · 12-1 momentum +136%
4.0%
ROIVRoivant SciencesBiotech · -13% from 52-week high · biotech, price-only entry · 12-1 momentum +129%
4.0%
PARRPar Pacific Holdings, Inc.Energy & Power · -6% from 52-week high · revenue +57% y/y · 12-1 momentum +123%
4.0%
SEPNSepterna, Inc.Pharma · -19% from 52-week high · revenue +22376% y/y · 12-1 momentum +110%
4.0%
KNSAKiniksa Pharmaceuticals International, plcPharma · -8% from 52-week high · held: still within 25% of its high · 12-1 momentum +103%
4.0%
DGIIDigi International Inc.AI Infrastructure · -11% from 52-week high · revenue +29% y/y · 12-1 momentum +102%
4.0%
FTNTFortinetSoftware · +0% from 52-week high · revenue +26% y/y · 12-1 momentum +102%
4.0%
DINOHF SinclairEnergy & Power · -8% from 52-week high · revenue +53% y/y · 12-1 momentum +100%
4.0%
JAZZJazz PharmaceuticalsPharma · -12% from 52-week high · held: still within 25% of its high · 12-1 momentum +94%
4.0%
CGONCG Oncology, Inc.Biotech · -12% from 52-week high · biotech, price-only entry · 12-1 momentum +92%
4.0%
CRWDCrowdStrikeSoftware · +0% from 52-week high · revenue +26% y/y · 12-1 momentum +89%
4.0%
PANWPalo Alto NetworksSoftware · +0% from 52-week high · revenue +34% y/y · 12-1 momentum +87%
4.0%
DDOGDatadogSoftware · -5% from 52-week high · revenue +36% y/y · 12-1 momentum +63%
4.0%
LFUSLittelfuseAI Infrastructure · -13% from 52-week high · revenue +19% y/y · 12-1 momentum +61%
4.0%
NVTnVent Electric plcEnergy & Power · -13% from 52-week high · earnings +97% y/y · 12-1 momentum +57%
4.0%
JNJJohnson & JohnsonPharma · -5% from 52-week high · held: still within 25% of its high · 12-1 momentum +50%
4.0%
APHAmphenolAI Infrastructure · -4% from 52-week high · earnings +62% y/y · 12-1 momentum +32%
4.0%
NATLNCR AtleosAI Infrastructure · -6% from 52-week high · earnings +44% y/y · 12-1 momentum +18%
4.0%
SUPNSupernus Pharmaceuticals, Inc.Pharma · -24% from 52-week high · held: still within 25% of its high · 12-1 momentum -7%
4.0%Why each stock is held
PRAX Biotech · -25% from 52-week high · biotech, price-only entry · 12-1 momentum +569%. Qualified on Biotech, -25% from 52-week high, biotech, price-only entry, 12-1 momentum +569%. Drops out if it falls outside the top 25 at the next rebalance (Oct 30). In the latest preview (2026-10-26) it is outside the top 25.
LITE AI Infrastructure · -8% from 52-week high · revenue +109% y/y · 12-1 momentum +463%. Qualified on AI Infrastructure, -8% from 52-week high, revenue +109% y/y, 12-1 momentum +463%. Ranked 1st of 589 at the 2026-09-30 rebalance. Drops out if it falls outside the top 25 at the next rebalance (Oct 30). In the latest preview (2026-10-26) it is outside the top 25.
RVMD Biotech · -7% from 52-week high · biotech, price-only entry · 12-1 momentum +346%. Qualified on Biotech, -7% from 52-week high, biotech, price-only entry, 12-1 momentum +346%. Ranked 3rd of 589 at the 2026-09-30 rebalance. Drops out if it falls outside the top 25 at the next rebalance (Oct 30). In the latest preview (2026-10-26) it is outside the top 25.
RLAY Biotech · -13% from 52-week high · biotech, price-only entry · 12-1 momentum +254%. Qualified on Biotech, -13% from 52-week high, biotech, price-only entry, 12-1 momentum +254%. Drops out if it falls outside the top 25 at the next rebalance (Oct 30). In the latest preview (2026-10-26) it is outside the top 25.
DELL AI Infrastructure · -9% from 52-week high · held: still within 25% of its high · 12-1 momentum +245%. Qualified on AI Infrastructure, -9% from 52-week high, held: still within 25% of its high, 12-1 momentum +245%. Drops out if it falls outside the top 25 at the next rebalance (Oct 30). In the latest preview (2026-10-26) it is outside the top 25.
ETON Pharma · -20% from 52-week high · revenue +99% y/y · 12-1 momentum +169%. Qualified on Pharma, -20% from 52-week high, revenue +99% y/y, 12-1 momentum +169%. Drops out if it falls outside the top 25 at the next rebalance (Oct 30). In the latest preview (2026-10-26) it is outside the top 25.
KOD Biotech · +0% from 52-week high · biotech, price-only entry · 12-1 momentum +136%. Qualified on Biotech, +0% from 52-week high, biotech, price-only entry, 12-1 momentum +136%. Ranked 8th of 589 at the 2026-09-30 rebalance. Drops out if it falls outside the top 25 at the next rebalance (Oct 30). In the latest preview (2026-10-26) it is outside the top 25.
ROIV Biotech · -13% from 52-week high · biotech, price-only entry · 12-1 momentum +129%. Qualified on Biotech, -13% from 52-week high, biotech, price-only entry, 12-1 momentum +129%. Drops out if it falls outside the top 25 at the next rebalance (Oct 30). In the latest preview (2026-10-26) it is outside the top 25.
PARR Energy & Power · -6% from 52-week high · revenue +57% y/y · 12-1 momentum +123%. Qualified on Energy & Power, -6% from 52-week high, revenue +57% y/y, 12-1 momentum +123%. Ranked 12th of 589 at the 2026-09-30 rebalance. Drops out if it falls outside the top 25 at the next rebalance (Oct 30). In the latest preview (2026-10-26) it ranks 10th.
SEPN Pharma · -19% from 52-week high · revenue +22376% y/y · 12-1 momentum +110%. Qualified on Pharma, -19% from 52-week high, revenue +22376% y/y, 12-1 momentum +110%. Drops out if it falls outside the top 25 at the next rebalance (Oct 30). In the latest preview (2026-10-26) it is outside the top 25.
KNSA Pharma · -8% from 52-week high · held: still within 25% of its high · 12-1 momentum +103%. Qualified on Pharma, -8% from 52-week high, held: still within 25% of its high, 12-1 momentum +103%. Drops out if it falls outside the top 25 at the next rebalance (Oct 30). In the latest preview (2026-10-26) it is outside the top 25.
DGII AI Infrastructure · -11% from 52-week high · revenue +29% y/y · 12-1 momentum +102%. Qualified on AI Infrastructure, -11% from 52-week high, revenue +29% y/y, 12-1 momentum +102%. Drops out if it falls outside the top 25 at the next rebalance (Oct 30). In the latest preview (2026-10-26) it is outside the top 25.
FTNT Software · +0% from 52-week high · revenue +26% y/y · 12-1 momentum +102%. Qualified on Software, +0% from 52-week high, revenue +26% y/y, 12-1 momentum +102%. Ranked 16th of 589 at the 2026-09-30 rebalance. Drops out if it falls outside the top 25 at the next rebalance (Oct 30). In the latest preview (2026-10-26) it ranks 5th.
DINO Energy & Power · -8% from 52-week high · revenue +53% y/y · 12-1 momentum +100%. Qualified on Energy & Power, -8% from 52-week high, revenue +53% y/y, 12-1 momentum +100%. Ranked 17th of 589 at the 2026-09-30 rebalance. Drops out if it falls outside the top 25 at the next rebalance (Oct 30). In the latest preview (2026-10-26) it ranks 6th.
JAZZ Pharma · -12% from 52-week high · held: still within 25% of its high · 12-1 momentum +94%. Qualified on Pharma, -12% from 52-week high, held: still within 25% of its high, 12-1 momentum +94%. Drops out if it falls outside the top 25 at the next rebalance (Oct 30). In the latest preview (2026-10-26) it is outside the top 25.
CGON Biotech · -12% from 52-week high · biotech, price-only entry · 12-1 momentum +92%. Qualified on Biotech, -12% from 52-week high, biotech, price-only entry, 12-1 momentum +92%. Drops out if it falls outside the top 25 at the next rebalance (Oct 30). In the latest preview (2026-10-26) it is outside the top 25.
CRWD Software · +0% from 52-week high · revenue +26% y/y · 12-1 momentum +89%. Qualified on Software, +0% from 52-week high, revenue +26% y/y, 12-1 momentum +89%. Ranked 21st of 589 at the 2026-09-30 rebalance. Drops out if it falls outside the top 25 at the next rebalance (Oct 30). In the latest preview (2026-10-26) it ranks 8th.
PANW Software · +0% from 52-week high · revenue +34% y/y · 12-1 momentum +87%. Qualified on Software, +0% from 52-week high, revenue +34% y/y, 12-1 momentum +87%. Ranked 22nd of 589 at the 2026-09-30 rebalance. Drops out if it falls outside the top 25 at the next rebalance (Oct 30). In the latest preview (2026-10-26) it ranks 17th.
DDOG Software · -5% from 52-week high · revenue +36% y/y · 12-1 momentum +63%. Qualified on Software, -5% from 52-week high, revenue +36% y/y, 12-1 momentum +63%. Ranked 28th of 589 at the 2026-09-30 rebalance. Drops out if it falls outside the top 25 at the next rebalance (Oct 30). In the latest preview (2026-10-26) it ranks 21st.
LFUS AI Infrastructure · -13% from 52-week high · revenue +19% y/y · 12-1 momentum +61%. Qualified on AI Infrastructure, -13% from 52-week high, revenue +19% y/y, 12-1 momentum +61%. Drops out if it falls outside the top 25 at the next rebalance (Oct 30). In the latest preview (2026-10-26) it is outside the top 25.
NVT Energy & Power · -13% from 52-week high · earnings +97% y/y · 12-1 momentum +57%. Qualified on Energy & Power, -13% from 52-week high, earnings +97% y/y, 12-1 momentum +57%. Drops out if it falls outside the top 25 at the next rebalance (Oct 30). In the latest preview (2026-10-26) it is outside the top 25.
JNJ Pharma · -5% from 52-week high · held: still within 25% of its high · 12-1 momentum +50%. Qualified on Pharma, -5% from 52-week high, held: still within 25% of its high, 12-1 momentum +50%. Drops out if it falls outside the top 25 at the next rebalance (Oct 30). In the latest preview (2026-10-26) it is outside the top 25.
APH AI Infrastructure · -4% from 52-week high · earnings +62% y/y · 12-1 momentum +32%. Qualified on AI Infrastructure, -4% from 52-week high, earnings +62% y/y, 12-1 momentum +32%. Ranked 54th of 589 at the 2026-09-30 rebalance. Drops out if it falls outside the top 25 at the next rebalance (Oct 30). In the latest preview (2026-10-26) it is outside the top 25.
NATL AI Infrastructure · -6% from 52-week high · earnings +44% y/y · 12-1 momentum +18%. Qualified on AI Infrastructure, -6% from 52-week high, earnings +44% y/y, 12-1 momentum +18%. Ranked 68th of 589 at the 2026-09-30 rebalance. Drops out if it falls outside the top 25 at the next rebalance (Oct 30). In the latest preview (2026-10-26) it ranks 68th.
SUPN Pharma · -24% from 52-week high · held: still within 25% of its high · 12-1 momentum -7%. Qualified on Pharma, -24% from 52-week high, held: still within 25% of its high, 12-1 momentum -7%. Drops out if it falls outside the top 25 at the next rebalance (Oct 30). In the latest preview (2026-10-26) it is outside the top 25.
Next rebalance preview 19 likely in · 19 at risk · not final
IOVA Iovance Biotherapeutics, Inc.#1Likely to enter
RNG RingCentral, Inc.#2Likely to enter
NRIX Nurix Therapeutics, Inc.#3Likely to enter
OKTA Okta, Inc.#4Likely to enter
KYMR Kymera Therapeutics, Inc.#7Likely to enter
XNCR Xencor Inc#9Likely to enter
AMRX Amneal Pharmaceuticals#11Likely to enter
FROG JFrog Ltd.#12Likely to enter
VIR Vir Biotechnology, Inc.#13Likely to enter
TRGP Targa Resources#14Likely to enter
LNTH Lantheus Holdings#15Likely to enter
MRK Merck & Co.#16Likely to enter
NTAP NetApp#18Likely to enter
PR Permian Resources#19Likely to enter
TGTX TG Therapeutics, Inc.#20Likely to enter
HALO Halozyme#22Likely to enter
TALO Talos Energy, Inc.#23Likely to enter
TXN Texas Instruments#24Likely to enter
ADI Analog Devices#25Likely to enter
LGND Ligand Pharmaceuticals, Inc.#26Just outside
SM SM Energy Company#27Just outside
OVV Ovintiv#28Just outside
RPRX Royalty Pharma plc#29Just outside
PAGP Plains GP Holdings, L.P.#30Just outsideNATL Held NCR Atleos#68At risk of leavingRLAY Held Relay Therapeutics, Inc.At risk of leavingJAZZ Held Jazz PharmaceuticalsAt risk of leavingDELL Held Dell TechnologiesAt risk of leavingAPH Held AmphenolAt risk of leavingROIV Held Roivant SciencesAt risk of leavingSUPN Held At risk of leavingRVMD Held Revolution Medicines, Inc.At risk of leavingSEPN Held Septerna, Inc.At risk of leavingLITE Held At risk of leavingPRAX Held At risk of leavingJNJ Held Johnson & JohnsonAt risk of leavingDGII Held Digi International Inc.At risk of leavingKOD Held Kodiak Sciences Inc.At risk of leavingKNSA Held Kiniksa Pharmaceuticals International, plcAt risk of leavingLFUS Held At risk of leavingCGON Held CG Oncology, Inc.At risk of leavingNVT Held At risk of leavingETON Held Eton Pharmaceuticals, Inc.At risk of leavingRe-runs the rules on prices through Oct 26, 2026. Official holdings are set only on rebalance day (Oct 30).
How it works
What it owns. Up to 25 stocks at 4% each from five groups: AI infrastructure (chips, networking, computers and storage), biotech, pharma, software, and energy and power. No more than 6 from one group, so no single theme can take over.
How a stock gets in. Within 10% of its 52-week high, above its 200-day average, and growing: year-over-year revenue growth that is positive and not slowing (or, failing that, the same for earnings). Smaller biotechs without meaningful revenue can qualify on price alone. Ranked by 12-1 momentum (the 11 months ending a month ago).
How a stock gets out. A holding stays until it falls more than 25% below its 52-week high or drops out of the eligible list. The wider exit keeps turnover low (about 8% a month in the backtest) and lets winners run.
Which stocks qualify. US-listed common stocks of companies that file 10-Ks with the SEC, with a market cap of at least $1B, a price of at least $5 and a 20-day median of at least $5M traded a day. Sector groups come from SEC industry codes plus a reviewed list.
What can go wrong. Everything it owns is in five growth-heavy groups, so a sell-off in tech or biotech hits it hard. Stocks near their highs can reverse quickly, and a 25% exit band means a holding can fall a long way before it is sold. Empty slots are held in cash.
Universe: US stocks, $1B+ market cap.
Backtest details in-sample vs out-of-sample
| 16–21 in-sample | 22–26 out-of-sample | Full | |
|---|---|---|---|
| Per year | +22.7% | +18.1% | +20.5% |
| SPY | +18.3% | +12.0% | +15.2% |
| Max drop | -11.8% | -13.7% | -15.5% |
| Volatility | 15.5% | 16.9% | 16.1% |
| Sharpe | 1.41 | 1.07 | 1.25 |
Turnover 7.5% a month. Best year +40.7% (2019), worst -12.6% (2022).
Point-in-time SEC quarterly filings for the growth check; prices for everything else.
Broad US universe: market cap $1B+, price $5+, 20-day median dollar volume $5M+.
Disclosures
Rules were designed in Oct 2026 with the full 2016-2026 history in view, so the in-sample / out-of-sample split is shown for comparison only: neither column is an untouched test.
Fundamentals: SEC quarterly filings, each number as first filed and used only from its filing date (no restatements, no look-ahead).
Universe: US-listed common stocks with market cap of at least $1B, price of at least $5 and 20-day median dollar volume of at least $5M, re-checked at every rebalance (market cap = SEC-reported shares x price at the time).
Sector groups (AI infrastructure, biotech, pharma, software, energy and power) come from SEC industry codes plus a reviewed list; stocks outside them are not eligible.
Survivorship bias: only companies that still trade today are in the data (acquired or delisted companies have no free price history), so past returns are overstated, likely by more than for an index-member backtest.
Costs: 10 bps per side ($2B+ market cap), 30 bps (under $2B) on every dollar traded; no taxes or other slippage; cash earns 0%. Backtests are hypothetical.
Research only: a model portfolio for information, not personal advice and not an account anyone manages. Past results don't predict future returns.
Models can be wrong; holdings may be aggressive, speculative or out of date.
The author may hold positions in securities discussed here, including this model's holdings, and may buy or sell them at any time. See the disclaimer.
Get the market emails
Morning Brief (8 AM ET) & Market Close (4:30 PM ET), weekdaysIndexes, sectors, biggest movers, rates, top news, SURVYR. model changes and what's ahead. Free, two short emails each weekday.
Check your inbox to confirm
We sent a link to . Tap it to start your emails. Nothing is sent until you confirm.
Not there in a minute? Check spam, or .
Dev mode No email provider here, so the confirm link is shown: Open confirm link
Free to use. No card, no ads, no auto-renew.
Systematic research · Not investment advice · Hypothetical unless marked Live · Data: Yahoo Finance (15-min delayed), SEC EDGAR, House Clerk · Important disclosures · Contact desk@coteau.app
Coteau 0.9 · Oct 21, 2026