GRANNY SHOTS: April 2022 Update

We have updated our Granny Shots stock list for April 2022. There have been nine stocks removed from the list and there have been seven stocks added. Our Granny Shots portfolio is comprised of stocks that qualify for at least two of our thematic and tactical themes. Our tactical themes are Value tilt, Seasonality, and stocks that benefit from a PMI recovery. Our thematic categories are the economic rise of millennials, the rise of AI/Automation, and Asset Intensity. Our strategic themes have an investment time horizon of 3-5 years. Our tactical themes have an investment time horizon of 6-12 months. Performance is measured on an equally-weighted basis from when names are added and removed.

On a YTD basis our Granny Shots portfolio is outperforming by 275 bps in 2022. Our relative performance was strong in the beginning months of the year while we were slightly behind the market in March. Our 2021 outperformance was 392 bps in 2021 and it was 3,015 bps in 2020.

Qualcomm (QCOM 3.43% ) and Broadcom (AVGO 3.71% ) were added for the the Value/Growth Style Tilt and for the AI/Automation portfolio. Cincinnati Financial Corp (CINF 1.05% ) was added for Seasonality and PMI Recovery. Allstate Corp (ALL 0.31% ) was added for Seasonality and The Economic Rise of Millennials. American Tower (AMT 0.24% ), Crown Castle International (CCI 0.30% ) and Extra Space Storage (EXR 0.83% ) were all added for the Value/Growth Style Tilt and for Seasonality.

Nine stocks were removed from the Granny Shots List: (VRSN 1.04% ), (ATVI), (AAP -1.82% ), (ORLY -1.08% ), (CMI 1.14% ), (PCAR 1.62% ), (MPC 3.60% ), (GL -0.16% ), and (USB 1.50% ) which brings the total number of stocks on the list to 31 ideas. Because AMD’s acquisition of (XLNX) was completed recently we have “added” (AMD 1.97% ) in the place of (XLNX). AMD is also favored by our quant model.

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