Period 13 Review: Schloss Dividend Ends Quality Growth's Four-Period Reign as CANSLIM Turns Positive

Period 13 covers July 4 to July 11, 2026 — seven days that produced the calmest retention profile of the journal so far even as five of seven screens closed in the red. Two screens were positive, five negative, and the spread between best and worst narrowed to 3.42 percentage points — Schloss Dividend at +1.98% and Piotroski F-Score at −1.44% — the third consecutive period of narrowing spread, down from Period 12's 6.06 points and Period 11's 9.00 points. But this narrowing tells a different story than the last two: rather than more screens converging on a shared positive result, this period simply saw fewer screens do well at all.

The period's structural headline is Quality Growth's run atop the leaderboard ending at three consecutive periods, as a single stock — CNX — dragged the screen to −0.49%, its first negative period since Period 8. Schloss Dividend, the least stable screen just two periods ago at 75% retention, took over the top spot with +1.98%, powered by ATHM's +11.66% and GGB's +10.57%. Meanwhile CANSLIM Rocket returned to positive territory at +0.27%, its first gain in three periods, as MU — whose −13.84% collapse defined Period 12 — essentially flattened out at +0.38%.

Period 13 Returns: A Weak Week, Narrowly Spread

Schloss Dividend topped the table for the first time since Period 1, its +1.98% built on broad strength rather than one dominant position. CANSLIM Rocket followed at +0.27%, ending a two-period losing streak. The other five screens all closed negative: Lunch at −0.37%, Quality Growth at −0.49%, Magic Formula at −0.59%, Burry Value at −1.29%, and Piotroski F-Score at −1.44%, closing last for the second time in three periods.

Schloss Dividend's +1.98% was built on strength across metals, shipping, and Latin American names rather than one standout position, in an eleven-name portfolio at 9.09% equal weight. ATHM (Autohome) led with +11.66%, from $18.18 to $20.30, contributing approximately +1.06 percentage points. GGB (Gerdau) added +10.57% (+0.96 points), reversing Period 12's −1.93% loss. TX (Ternium) rebounded +6.11% (+0.56 points) after Period 12's −6.05% decline, DAC (Danaos) gained +4.96% (+0.45 points), and JOYY added +4.88% (+0.44 points). Six of eleven positions closed positive. Against them, VSNT (Visionary Education Technology) fell −6.75% (−0.61 points) — reversing its Period 12 gain — THO (Thor Industries) declined −4.76% (−0.43 points), and LEN (Lennar), which had entered the screen just one period earlier, gave back −4.47% (−0.41 points). All eleven positions were retained; MTH (Meritage Homes) enters the screen for Period 14, restoring the homebuilder name that exited in Period 11.

CANSLIM's +0.27% ended a two-period losing streak as the semiconductor cluster that drove Periods 11 and 12's declines mostly stabilized or reversed. AVGO (Broadcom) led with +10.96%, from $360.45 to $399.97, contributing approximately +0.61 percentage points at the 5.56% weight. NVDA (Nvidia) added +8.28% (+0.46 points), CLS (Celestica) gained +7.03% (+0.39 points), MPWR (Monolithic Power Systems) rebounded +5.01% (+0.28 points), and SMCI (Super Micro Computer) added +4.00% (+0.22 points). MU (Micron Technology), whose −13.84% collapse defined last period, essentially flattened out at +0.38%, from $975.56 to $979.30 — a sign the technology cluster's volatility may be settling. Against these gains, AGI (Alamos Gold) fell −6.71% (−0.37 points), FN (Fabrinet) declined −5.70% (−0.32 points), and HALO (Halozyme Therapeutics) gave back −4.09% (−0.23 points). Ten of eighteen positions closed positive. CANSLIM retained all eighteen positions for a third consecutive period while adding PAAS (Pan American Silver) — its first new position since Period 5.

Lunch's −0.37% reflected a mixed but net-negative week, its sixteen positions split nearly evenly between gainers and decliners. CVE (Cenovus Energy) led at +7.10%, from $24.65 to $26.40, contributing approximately +0.44 percentage points at the 6.25% weight. BZ (Kanzhun) added +5.85% (+0.37 points), ESTC (Elastic) gained +3.79% (+0.24 points), and PDD added +3.33% (+0.21 points). Against these, PAAS fell −5.66% (−0.35 points), AEM (Agnico Eagle) declined −4.54% (−0.28 points), EXE (Expand Energy) gave back −3.82% (−0.24 points), and SKWD (Skyward Specialty Insurance) fell −3.39% (−0.21 points) after Period 12's +3.77% gain. All sixteen positions were retained; TFPM (Triple Flag Precious Metals) — one of the four names that exited at the sell fee in Period 12 — re-enters the screen for Period 14.

Quality Growth's −0.49% ended its four-period streak of positive results (Periods 9 through 12), its first negative period since Period 8. CNX (CNX Resources) fell −5.47%, from $33.84 to $31.99, subtracting approximately −0.91 percentage points at the screen's 16.67% weight — the largest single-position drag of any screen this period relative to its weight. SEZL (Sezzle) declined −2.11% (−0.35 points), snapping its four-period winning streak, and FICO (Fair Isaac) gave back −1.57% (−0.26 points). Against these, DAVE (Dave Inc.) gained +3.46%, from $387.36 to $400.75 (+0.58 points), NBIX (Neurocrine Biosciences) added +1.64% (+0.27 points), and AUPH (Aurinia Pharmaceuticals) rebounded +1.09% (+0.18 points) after Period 12's −9.40% decline. Three of six positions closed positive. All six positions were retained for a third consecutive period; the screen has now gone three straight periods without any turnover.

Magic Formula's −0.59% reversed Period 12's commodity-cluster gains, this time led down by energy and mining names. GPOR (Gulfport Energy) fell −9.93%, from $168.87 to $152.10, subtracting approximately −0.90 percentage points at the 9.09% weight. IAG (Iamgold) declined −7.49% (−0.68 points), reversing its Period 12 gain, OGC (OceanaGold) gave back −4.98% (−0.45 points) after leading the screen higher last period, and DDS (Dillard's) fell −4.28% (−0.39 points). Against these, INSW (International Seaways) gained +7.38% (+0.67 points), CALM (Cal-Maine Foods) rose +5.35% (+0.49 points), FHI (Federated Hermes) added +5.19% (+0.47 points) — reversing its Period 12 loss — and DHT (DHT Holdings) added +3.38% (+0.31 points), also reversing direction from Period 12. All eleven positions were retained; HMY (Harmony Gold) and ORLA (Orla Mining) — both exited at the sell fee in Period 12 after a single period held — re-enter the screen for Period 14.

Six of seven screens posted perfect retention this period — the highest simultaneous count in the journal's thirteen periods — while five of seven still closed in the red. Stability and profitability, this time, pointed in opposite directions.

Burry Value's −1.29% was its worst single-period result since Period 5's −3.77%, with twenty-four of thirty-nine positions closing negative. CPRT (Copart) fell −8.33%, from $30.01 to $27.51, subtracting approximately −0.21 percentage points at the 2.56% weight. GRBK (Green Brick Partners) declined −7.08% (−0.18 points), SSRM (SSR Mining) gave back −6.66% (−0.17 points), PHM (PulteGroup) fell −6.67% (−0.17 points), SII (SLB) declined −6.11% (−0.16 points), and SSD (Simpson Manufacturing) fell −5.94% (−0.15 points) — a broad decline across homebuilders and industrials. Against this weakness, TDW (Tidewater) gained +7.71%, from $68.12 to $73.37 (+0.20 points), and CALM added +5.35% (+0.14 points). All thirty-nine positions were retained — the screen's first 100% retention period since Period 10 — and BMI (Badger Meter), which exited in Period 12, re-enters for Period 14.

Piotroski closed last for the second time in three periods, its −1.44% driven by steep declines in NOAH (Noah Holdings) and GLOB (Globant). NOAH fell −11.47%, from $10.03 to $8.88, subtracting approximately −0.88 percentage points at the 7.69% weight. GLOB declined −7.84% (−0.60 points), reversing its Period 12 gain, WGO (Winnebago Industries) fell −5.74% (−0.44 points), and WDH (Waterdrop) gave back −3.33% (−0.26 points). Against these, GASS (StealthGas) gained +8.40% (+0.65 points), MOMO (Hello Group) added +3.24% (+0.25 points), and USNA (USANA Health Sciences) rose +2.19% (+0.17 points). ASC — held since Period 11 — and NSLR, added just one period earlier, both exited at the sell fee; API and YALA, both of which exited the screen earlier in the journal, re-enter for Period 14. Piotroski's cumulative return remains the lowest of the seven screens at −12.58%, down from −11.30% in Period 12.

Retention: The Calmest Reshuffling of the Journal

Period 13 produced the highest simultaneous retention count of the journal so far: six of seven screens held 100% of their starting positions, with only Piotroski F-Score reshuffling — two exits (ASC, NSLR) against two entrants (API, YALA), holding its retention at 84.6%. Burry Value, Schloss Dividend, Lunch, Magic Formula, CANSLIM, and Quality Growth all closed the period without a single exit.

The contrast with two periods ago is stark. In Period 11, only two screens held perfect retention while Schloss Dividend churned at 75%; this period, Schloss sits among six screens at 100%, and all of the period's turnover is concentrated in a single screen — Piotroski, whose 84.6% remains the field's least stable figure for a second consecutive period.

Cumulative Scoreboard: Quality Growth's Lead Narrows, CANSLIM's Gap Widens

Quality Growth's first negative period since Period 8 trimmed its cumulative return from +20.55% to +19.95%, narrowing its lead for the first time in four periods — though it remains the only screen ahead of both benchmarks by a wide margin. CANSLIM's +0.27% pushed its cumulative return from +7.89% to +8.19%, but because the S&P 500 (+1.23%) and NASDAQ (+1.74%) both rose faster, CANSLIM's cumulative alpha widened further negative — from −2.46 to −3.52 points versus the S&P 500, and from −5.92 to −7.60 points versus the NASDAQ.

Schloss Dividend's win lifted its cumulative return from +2.03% to +4.05%, moving it ahead of Burry Value (+1.41%, down slightly from +2.74% after Period 13's −1.29%) into third place among the seven screens. Lunch's −0.37% pulled its cumulative return to −3.08% from −2.72%, its second consecutive period of mild decline after Period 12's improvement. Magic Formula's −9.85% and Piotroski's −12.58% remain the bottom two, both extending their losses after Period 12's partial recovery — Magic Formula down from −9.32%, and Piotroski down from −11.30%, reversing what had looked like the start of a rebound for both screens.

Against benchmarks, only Quality Growth carries positive cumulative alpha, and even that narrowed to +8.24 points versus the S&P 500 and +4.16 points versus the NASDAQ — down from +10.20 and +6.74 at the close of Period 12. Every other strategy's alpha widened further negative: Burry Value to −10.30/−14.38 points, Schloss to −7.66/−11.74, Lunch to −14.79/−18.87, Magic Formula to −21.56/−25.64, and Piotroski to −24.29/−28.37 points versus the S&P 500 and NASDAQ respectively. With both benchmarks posting gains this period while five of seven screens fell, Period 13 was one where the passive comparison outperformed active stock selection almost across the board.

Overlap: Nine Stocks as CANSLIM Joins the Lunch Pair

The July 11 snapshot shows nine stocks in two or more screens, up from eight at the July 4 snapshot. The addition came from PAAS (Pan American Silver), which CANSLIM added this period — the stock has been held in Lunch since Period 5, and the two screens now share it for the first time. No overlap pairs dissolved.

Burry Value now anchors six of the nine overlap stocks — AEM, CPRX, FSM, and HRMY sit in both Burry and Lunch, alongside CALM (shared with Magic Formula) and AUPH (shared with Quality Growth). This period the shared names cut both ways: CALM's +5.35% lifted both Burry and Magic Formula, AEM's −4.54% and FSM's −2.29% dragged both Burry and Lunch, and LUXE's −1.49% weighed on both Piotroski and CANSLIM. PAAS's −5.66% pulled on Lunch this period but had not yet accrued a return inside CANSLIM, having entered too late in the period to register a price move.

What Period 13 Tells You

CANSLIM's return to positive territory reflects stabilization, not recovery. MU flattened at +0.38%, from $975.56 to $979.30, essentially unchanged after the −13.84% collapse that defined Period 12. The screen's +0.27% this period came instead from a broad semiconductor rebound — AVGO +10.96%, NVDA +8.28%, CLS +7.03%, MPWR +5.01% — that had nothing to do with Micron specifically. Yet because both benchmarks also rose faster this period (S&P 500 +1.23%, NASDAQ +1.74%), CANSLIM's cumulative alpha widened further negative even during its first winning period in three. Ending a losing streak and closing the gap with the benchmarks turned out to be two different things this period.

Quality Growth's four-period win streak ended on a single name. CNX fell −5.47%, from $33.84 to $31.99, subtracting roughly −0.91 percentage points at the screen's 16.67% weight — enough on its own to outweigh DAVE's +3.46% gain (+0.58 points) and turn a screen with three of six positions positive into a net loser. It's the same six-position dynamic that made Quality Growth's Period 12 win possible: with only six names, any single mover can swing the period result by close to a point.

Six of seven screens posted perfect retention — the highest simultaneous count observed so far in this journal. Only Piotroski turned over any positions, and even there the net change was small: two exits, two entrants, ending at the same thirteen-position count it started with. Compare this to Period 11, when only two screens held perfect retention and Schloss Dividend churned at 75%. Whatever is driving each screen's picks, this was a period where almost nothing about the composition of any portfolio changed — the losses came entirely from price moves in positions each screen had already chosen to hold.

A third consecutive narrowing of the best-to-worst spread came with fewer winners, not more. The gap between the best and worst screen has now tightened for three straight periods — 9.00 points in Period 11, 6.06 in Period 12, 3.42 in Period 13 — but the number of screens finishing positive fell alongside it: four of seven in Period 12, two of seven this period. A narrowing spread reads as convergence, but here it means the whole field is drifting toward the same negative outcome rather than screens agreeing on a shared positive one.