Paper Fund
Inception 2026-05-30 · $100,000 starting capital · 14 positions
Paper Fund NAV
$96,857.14
Today +4.01% · Inception -3.14%
Cash: $16,515.31 (17.1%)
Benchmark (SPY)
$102,140.17
Inception +2.14%
Alpha: -5.28%
Days
49
Sharpe
-0.65
Max DD
-12.13%
Win rate
33%
Positions
| Ticker | Shares | Avg cost | Mkt value | Weight | P/L | Thesis P | Target |
|---|---|---|---|---|---|---|---|
| CEG | 41 | $268.58 | $11,406.20 | 11.8% | $394.42 (+3.6%) | 0.86 | 11.8% |
| SCCO | 45 | $186.33 | $8,641.80 | 8.9% | $256.95 (+3.1%) | 0.90 | 9.0% |
| ETN | 15 | $401.21 | $6,831.00 | 7.1% | $812.85 (+13.5%) | 0.84 | 7.2% |
| VST | 45 | $157.84 | $6,574.95 | 6.8% | −$527.85 (-7.4%) | 0.74 | 6.9% |
| PWR | 9 | $695.42 | $6,500.79 | 6.7% | $242.01 (+3.9%) | 0.80 | 7.2% |
| GEV | 6 | $1,019.67 | $6,474.00 | 6.7% | $355.98 (+5.8%) | 0.81 | 7.1% |
| TLN | 18 | $387.32 | $6,424.56 | 6.6% | −$547.20 (-7.8%) | 0.82 | 7.0% |
| FCX | 75 | $64.09 | $5,128.50 | 5.3% | $321.75 (+6.7%) | 0.75 | 5.3% |
| LEU | 27 | $169.53 | $4,971.24 | 5.1% | $393.93 (+8.6%) | 0.87 | 5.3% |
| WULF | 253 | $22.65 | $4,452.80 | 4.6% | −$1,277.65 (-22.3%) | 0.80 | 4.6% |
| FSLR | 20 | $268.02 | $4,357.00 | 4.5% | −$1,003.40 (-18.7%) | 0.68 | 4.6% |
| VRT | 12 | $309.65 | $3,509.16 | 3.6% | −$206.64 (-5.6%) | 0.71 | 3.8% |
| IREN | 60 | $50.44 | $2,694.00 | 2.8% | −$332.40 (-11.0%) | 0.73 | 2.8% |
| CLF | 193 | $12.77 | $2,375.83 | 2.5% | −$88.78 (-3.6%) | 0.70 | 2.5% |
Factor exposure
| Factor | Actual | Target | Names |
|---|---|---|---|
| Nuclear & fuel | 30.3% | 31.0% | CEG, VST, TLN, LEU |
| Grid & power equipment | 20.4% | 21.5% | ETN, PWR, GEV |
| Materials | 16.7% | 16.8% | FCX, SCCO, CLF |
| Data-center hardware | 3.6% | 3.8% | VRT |
| AI data-center power | 7.4% | 7.4% | WULF, IREN |
| Distributed power & solar | 4.5% | 4.6% | FSLR |
Recent trades
| Date | Action | Ticker | Shares | Price | Value | Reason |
|---|---|---|---|---|---|---|
| 2026-08-17 | SELL | CLF | 264 | $12.31 | $3,249.84 | |
| 2026-08-17 | SELL | IREN | 9 | $44.90 | $404.10 | |
| 2026-08-17 | BUY | VRT | 1 | $292.43 | $292.43 | |
| 2026-08-17 | BUY | FSLR | 1 | $217.85 | $217.85 | |
| 2026-08-17 | BUY | WULF | 25 | $17.60 | $440.00 | |
| 2026-08-17 | SELL | LEU | 2 | $184.12 | $368.24 | |
| 2026-08-17 | BUY | FCX | 41 | $68.38 | $2,803.58 | |
| 2026-08-17 | BUY | VST | 2 | $146.11 | $292.22 | |
| 2026-08-17 | BUY | TLN | 3 | $356.92 | $1,070.76 | |
| 2026-08-17 | BUY | GEV | 1 | $1,079.00 | $1,079.00 | |
| 2026-08-17 | SELL | PWR | 3 | $722.31 | $2,166.93 | |
| 2026-08-17 | SELL | ETN | 3 | $455.40 | $1,366.20 | |
| 2026-08-17 | BUY | SCCO | 4 | $192.04 | $768.16 | |
| 2026-08-17 | SELL | CEG | 1 | $278.20 | $278.20 | |
| 2026-07-18 | BUY | FCX | 12 | $58.38 | $700.56 | |
| 2026-07-18 | BUY | IREN | 14 | $33.62 | $470.68 | |
| 2026-07-18 | BUY | VRT | 1 | $289.56 | $289.56 | |
| 2026-07-18 | BUY | FSLR | 1 | $211.99 | $211.99 | |
| 2026-07-18 | SELL | WULF | 39 | $18.16 | $708.24 | |
| 2026-07-18 | BUY | CLF | 43 | $9.28 | $399.04 |
Method. Edge-proportional allocation from thesis conviction. Edge = P − 0.50, normalized to 85% invested / 15% cash. Caps: 12% per name, 35% per factor. Rebalance on >3% weight drift. Benchmark: SPY from inception. Sharpe annualized, rf = 5%, requires 20+ days. Paper only.