Model Book

A Fundamental & Technical Analysis

2023 +24.23%
S&P 500
Weekly

Train your eyes to spot the next True Market Leaders with
30+ marked-up charts of the biggest winners from 2023.

Ameet Rai Richard Moglen Ross Haber Nick Schmidt

“The Model Book provides a step by step analysis of how a trader would initiate and exit
some of the biggest winners in 2023. Repetition is essential in training your eye and your
mind in discovering the next true market leaders and investing in them profitably.”

– Roy Mattox Portfolio Manager

“William O’Neil once stated “Study past big winners and you’ll buy future ones.”
Legendary traders throughout history noted that stock patterns keep repeating
themselves. Learn to recognize the next big Monster Stocks by studying the past leaders.
This Model Book will clue you in on key characteristics of the 2023 big leaders in order to
find the next ones. Study the past so you can profit in the future.”

– John Boik Author

“I’ll never forget building my first WON Model Book, the 1997 to 2000 with Ross & Chuck.
Building Model Books properly is not easy and takes years to learn. There’s simply no
better way to learn how to trade than building your own model books. The next best is
studying ones that others have built for you! I’d highly recommend study this one and
all other Model Books…they are worth their weight in gold.”

– Mike Webster Portfolio Manager

“Following up on prior year editions, the 2023 Model Book delves into the shared traits of
the top-performing stocks of 2023 before and during their remarkable runs. This
insightful book emphasizes the importance of recognizing these traits, offering
invaluable knowledge to help recognize future winners.”

– Brian Shannon Author

2023 Model Book Stocks
The following charts and fundamental data are
provided by Deepvue.
Learn more at Deepvue.com
 Sector: Industry:

Information Technology Semiconductors & Semiconductor Equipment

Nvidia Corporation stands out in the tech world, primarily for its advanced graphics processing
units (GPUs) and system on a chip units (SoCs). These technologies are key in mobile computing
and automotive industries.

Beyond these areas, Nvidia quietly yet significantly influences the Artificial Intelligence (AI) field. As
a top supplier of AI hardware and software, their GPUs are integral in various sectors, including
architecture, engineering, construction, media, entertainment, and manufacturing design.

Nvidia's role in AI is not just about supplying hardware; it's about enabling groundbreaking AI
applications in scientific research and practical industry solutions, showcasing its understated
but crucial presence in the AI landscape.

NVDA is part of the semiconductor group, which has been a clear leader of the market since its
low back in October 2022. NVDA is a clear leader in its space if not "the" leader and is considered a
bellwether stock of the market like Google, Apple, or Amazon.

NVDA broke out through $160.56 on January 12, 2023 and ran up to a high of $502.66 on August 24,
2023 for a gain of 213% in 25 weeks. NVDA continued to build a new base over the next several
months, just barely taking out its August high on November 20, 2023 before it ultimately pulled
back and continued to base build.

NVDA's quarterly earnings on a YoY basis grew at a spectacular pace over the course of 2023,
which is expected to continue into 2024 based on the street's most recent estimates. The same
can be said of NVDA's quarterly sales last year.

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 Sector: Industry:

Information Technology Semiconductors & Semiconductor Equipment

NVDA's annual earnings took a dip in 2023. However, the estimates for 2024 are for 267% growth.

Their annual revenues took a dip over 2023 as well, but are expected to recover in 2024. The street
currently expects to see 118% growth in annual sales.

The number of large institutional investors with a position in NVDA has picked up every quarter for
the last six quarters. Furthermore, it consists of quite a few funds with solid long-term track
records.

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 Sector: Industry:

Consumer Discretionary Specialty Retail

Abercrombie & Fitch, an American lifestyle retailer, specializes in casual wear. Based in New
Albany, Ohio, it oversees three subsidiary brands: Abercrombie Kids, Hollister Co., and Gilly Hicks.

ANF broke out through $17.72 on October 25, 2022 and ran up to a high of $86.09 on December 14,
2023 for a gain of 386% in 59 weeks.

Their quarterly earnings on a YoY basis have grown at an incredible pace over the prior three
quarters and triple digit growth is expected to continue into the first quarter of 2024, albeit at a
slower pace.

Their quarterly YoY revenues have shown acceleration over the prior 4 quarters and further
growth is expected in the future according to the street's current estimates.

ANF's annual earnings have been rather sporadic and volatile over the last few years.

However, ANF's revenue stream over the last few years is much more encouraging. While their
annual revenues didn't exhibit the sort of acceleration that their quarterly numbers did, this is
considered a stable, steady stream overall. Not to mention, their revenues are expected to
continue to grow going out to 2026.

Hence, ANF is a revenue play. Remember, large institutional investors often put a heavy premium
on steady revenue streams, just like ANF's. The number of funds with a position in ANF has
increased over the prior four quarters, including Fidelity's well known Contrafund.

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 Sector: Industry:

Information Technology Semiconductors & Semiconductor Equipment

Axcelis Technologies, Inc. plays a vital role in the global semiconductor manufacturing industry.
They focus on creating and maintaining specialized equipment, particularly ion implantation
systems and curing systems. These are essential for making semiconductor chips.

These chips are crucial in many technologies, especially in driving advancements in Artificial
Intelligence (AI). The accuracy and efficiency of Axcelis Technologies' products help meet the
growing needs of AI applications. This shows their important, though indirect, role in the
development of AI technology.

ACLS broke out through $60.67 on November 3, 2022 and ran up to a high of $201.00 on August 1,
2023 for a gain of 231% in 40 weeks.

ACLS's quarterly earnings on a YoY basis have accelerated over the prior 3 quarters and their
estimates are in good shape.

Their quarterly sales YoY grew at a solid steady pace in 2023 and are expected to see continued
growth going into next year, albeit at a slower pace.

ACLS's annual earnings have decelerated over the prior three years. They grew at 170% in 2020,
113% in 2021, 89% in 2022 and it looks like 2023 will end at around 35%. While 35% growth on an
annual basis is far from bad, the deceleration is less than ideal and should be noted for future
decisions.

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 Sector: Industry:

Information Technology Semiconductors & Semiconductor Equipment

Conversely, ACLS's annual revenue growth over the prior four years has been spectacular,
although they are expected to level out a bit looking a few years into the future.

The number of institutions with a position in ACLS fell slightly in the last quarter of 2024. However,
that was on the heels of seven straight increases over the seven months prior. Also, their
sponsorship consists of several funds with solid long-term track records.

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 Sector: Industry:

Information Technology Software

AppLovin Corporation is a company that specializes in helping mobile app developers promote
and make money from their apps, both in the U.S. and worldwide.

They offer several software tools. AppDiscovery is a marketing software that connects advertisers
with app publishers through auctions. Adjust is an analytics platform. It helps marketers grow their
apps by measuring how well campaigns are doing, optimizing them, and keeping user data safe.
MAX is software for in-app bidding. It helps get the best value for an app's ad space by hosting
real-time auctions. Finally, Wurl is a platform for connected TVs. It mainly streams videos for
content creators.

APP broke out through $11.18 on January 3, 2023 and ran up to a high of $45.11 on November 9, 2023
for a gain of 303% in 41 weeks.

APP's quarterly earnings on a YoY basis have shown tremendous growth over the last four
quarters, especially over the prior two, in which they they grew at 467% and 400% respectively.
Analysts currently expect solid quarterly growth to continue over the course of 2024.

Their quarterly sales YoY have shown slow but steady growth over the last year and analysts
currently expect this trend to continue into the future which is a positive.

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 Sector: Industry:

Information Technology Software

APP's annual earnings doubled from 2021 to 2022 and by the time they report their final quarter of
2023, their annual growth is expected to be 372%. Furthermore, the street is currently looking for
87% growth over the course of 2024.

APP's annual sales growth was slow but steady from 2021 to 2022 and is expected to pick up a bit
over the next four quarters.

APP's institutional sponsorship has increased over the last four quarters, although it didn't have
much of a trend going for it over the four quarters prior. Ideally, this number will continue to grow
as the stock continues to make progress higher.

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 Sector: Industry:

Industrials Building Products

Builders FirstSource, Inc. is a company that creates and provides building materials and pre-
made components. They also offer construction services. Their main clients are professional
homebuilders, subcontractors, remodelers, and individual consumers in the United States.

BLDR broke out through $65.78 on December 8, 2022 and ran up to a high of $156.85 on August 2,
2023 for a gain of 138% in 31 weeks.

BLDR's quarterly earnings on a YoY basis are far from textbook and while their estimates for next
year are better they are nowhere near what we typically look for.

However, their quarterly sales stream YoY looks better in comparison, especially going forward. It's
easy to see at a glance above just how much more solid and steady their revenues are expected
to be which is the key here.

BLDR's annual earnings and sales were nothing short of fantastic from 2019 through 2022.
Unfortunately, there was a notable slowdown over the course of 2023, but as can be seen above,
a major turnaround is expected to push through 2026.

BLDR's institutional sponsorship grew every quarter over the prior eight quarters from 894 in first
quarter of 2022, to 1,643 in the fourth quarter of 2023.

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 Sector: Industry:

Information Technology Technology Hardware, Storage & Peripherals

Super Micro Computer, Inc. develops high-performance servers and storage solutions and plays
a crucial role in the field of Artificial Intelligence (AI). Their products, which include server systems,
modular blade servers, workstations, and more, are built on a flexible, open architecture.

This design is key for AI applications, as it allows for customizable, scalable solutions essential for
processing large data sets and complex algorithms. Super Micro's global presence, with
operations in the United States, Europe, Asia, and beyond, ensures wide accessibility to their
advanced computing solutions.

These solutions are instrumental in powering AI innovations across various sectors, providing the
necessary infrastructure for cutting-edge AI research and development.

SMCI broke out through $85.85 on February 8, 2023 and ran up to a high of $357.00 on August 7,
2023 for a gain of 416% in 24 weeks.

SMCI's quarterly earnings on a YoY basis weren't so hot over the prior four quarters, but their
estimates going out four quarters looks significantly better. The same can be said of their YoY
quarterly revenues.

SMCI have grown their annual earnings at very rapid pace over the last couple years. In 2022 they
grew 128%, in 2023 they grew 109% and analysts are currently looking for 47% growth over the
course of 2024, which no doubt is a notable slow down, yet still super growth on an annual basis.

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 Sector: Industry:

Information Technology Technology Hardware, Storage & Peripherals

Their annual revenues have grown at a pace commensurate with their earnings and are
expected to accelerate in 2024.

The number of funds with a position in SMCI has picked up at a rapid pace, every quarter for the
last eight quarters. It grew from 365 in the first quarter of 2022 to 1,044 in the last quarter of 2023.
Additionally, there are a few top performing funds among its holders.

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 Sector: Industry:

Consumer Staples Personal Care Products

E.l.f. Beauty Inc. offers a wide range of cosmetic and skincare products globally, under brands like
e.l.f. Cosmetics, e.l.f. Skin, Well People, and Keys Soulcare. Their diverse product line includes items
for eyes, lips, face, and skincare. The company distributes its products through various channels,
including national and international retailers, and directly to consumers via e-commerce
platforms. This approach allows them to reach a broad customer base, providing beauty
solutions to a diverse market.

ELF broke out through $54.70 on January 24, 2023 and ran up to a high of $139.85 on August 31,
2023 for a gain of 156% in 29 weeks.

ELF broke out through $54.70 on January 24, 2023 and ran up to a high of $139.85 on August 31,
2023 for a gain of 156% in 29 weeks.

ELF's quarterly earnings on a YoY basis over the prior four quarters grew at a triple digit pace.
However, this rapid growth is expected to slow dramatically into the fourth quarter and all of next
year.

On a bright note, ELF 's quarterly sales stream YoY grew at a rapid pace over the prior four
quarters, similarly to their earnings, although analysts expect ELF's revenues to continue growing
at a solid, steady pace into the future, unlike their earnings.

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 Sector: Industry:

Consumer Staples Personal Care Products

ELF's annual earnings have exhibited accelerated growth every year for the last four years and are
expected to continue growing at a very solid pace through 2024. On a positive note, the same
exact thing can be said of ELF's annual revenues.

The number of large institutional investors with a position in ELF grew every quarter over the last
eight quarters and consists of several top performing funds, which is a positive.

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 Sector: Industry:

Information Technology Software

Samsara Inc. delivers cutting-edge solutions that connect real-world operational data to their
Connected Operations Cloud, both in the U.S. and internationally. Their main product, the
Connected Operations Cloud, has a Data Platform. This platform processes data from IoT devices
and is enhanced with AI, workflows, analytics, alerts, and secure API connections. It also focuses
heavily on data security and privacy.

Samsara also offers a range of applications. These include video-based safety, vehicle
telematics, driver workflows, equipment monitoring, and site visibility. This technology is key in
advancing AI. It helps in gathering and analyzing large data sets, which are vital for AI
development and use in various sectors.

IOT broke out through $12.58 on January 17, 2023 and ran up to a high of $36.91 on December 14,
2023 for a gain of 193% in 48 weeks.

IOT's quarterly earnings on a YoY basis accelerated from 60% to 300% over the prior four quarters.
Additionally, their quarterly YoY sales for the same period grew at a super solid, steady pace.
Analysts estimates for both earnings and sales over the next four quarters are very encouraging.

Furthermore, IOT's annual earnings and revenue growth are equally impressive, in both, their
already reported and estimated numbers.

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 Sector: Industry:

Information Technology Software

IOT's institutional sponsorship picked up every quarter for the last eight quarters and more than
tripled along the way. It was 101 in the first quarter of 2022 and is at 333 as of the last quarter of
2023. Furthermore, quite a few of these funds are top performers over the long-term, which is key.

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 Sector: Industry:

Consumer Discretionary Hotels, Restaurants & Leisure

DraftKings Inc. is a dynamic digital sports entertainment and gaming company operating in the
United States and internationally. It offers a range of services including online sports betting,
casino games, daily fantasy sports, and media products. The company also operates retail
sportsbooks.

Beyond these offerings, DraftKings is involved in designing and developing software for sports
betting and casino gaming, both online and in retail sportsbooks. Additionally, it features the
DraftKings Marketplace, a user-friendly digital collectibles platform. This marketplace specializes
in NFT drops and supports transactions in the secondary market, broadening its appeal to a
diverse consumer base.

DKNG broke out through $14.71 on January 27, 2023 and ran up to a high of $39.35 on November 27,
2023 for a gain of 168% in 40 weeks.

DKNG's quarterly earnings on a YoY basis were a bit sporadic over the prior four quarters, although
they still exhibited solid double digit growth. Even more impressive were DKNG's estimates for the
following four quarters. Analyst are currently looking for 127% growth in Q4 of 2023.

Their their quarterly, YoY sales were even more impressive.

DKNG's annual earnings have been nothing to write home about over the last three years,
although their estimates going out to 2026 show expected growth well into the triple digits.
Analysts estimates for 2025 are for 327% and 137% for 2026.

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 Sector: Industry:

Consumer Discretionary Hotels, Restaurants & Leisure

DKNG's annual revenue streams look even better than their earnings. Their already reported
revenues have exploded over the prior 3 years and the street is currently expected a solid, steady
stream to continue.

The number of funds with a position in DKNG was on a decline over the course of 2022. However, it
began to increase in the first quarter of 2023 and has done so every quarter since and currently
sits at a new high of 765 as of the last quarter of 2023, up from 722 in the first quarter of 2022.

Ideally, we want to see this trend continue as DKNG makes upside progress.

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 Sector: Industry:

Information Technology Semiconductor Equipment

Camtek Ltd. specializes in creating and selling inspection and metrology equipment. This
equipment is crucial for several areas in the semiconductor industry. These include advanced
interconnect packaging, memory, complementary metal oxide semiconductor (CMOS) image
sensors, micro-electro mechanical systems (MEMS), and radio frequency components.

Essentially, the company offers systems that help inspect and measure the quality of these
semiconductor parts.

CAMT broke out through $24.25 on May 5, 2023 and ran up to a high of $71.05 on December 22,
2023 for a gain of 193% in 30 weeks.

CAMT's quarterly earnings on a YoY basis have been growing, albeit slowly over their most recent
prior three quarters. However, growth is expected to pick up quite a bit starting in the first quarter
of 2024. The same same can be said of their YoY quarterly revenues.

CAMT's annual earnings and sales have evolved to show a similar pattern to their quarterly
numbers. There is a definite upward trend in both their already reported and estimated numbers,
although it is certainly on the volatile side.

Institutional sponsorship for CAMT declined every quarter over 2022, but began to pick up again in
the first quarter of 2023 and has accelerated at a rapid pace since, which is exactly what we want
to see.

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 Sector: Industry:

Consumer Discretionary Household Durables

Toll Brothers, Inc. designs, builds, markets, sells, and arranges finance for a range of detached and
attached homes in luxury residential communities in the United States. It designs, builds, markets,
and sells condominiums through Toll Brothers City Living.

The company also develops a range of single-story living and first-floor primary bedroom suite
home designs, as well as communities with recreational amenities, such as golf courses, marinas,
pool complexes, country clubs, and fitness and recreation centers; and develops, operates, and
rents apartments

TOL broke out through $44.46 on October 27, 2022 and ran up to a high of $105.91 on December 15,
2023 for a gain of 138% in 58 weeks.

TOL's quarterly YoY earnings accelerated at a solid double digit pace for the first three quarter of
the year, but then fell off sharply in Q4 and growth is expected to be more or less flat throughout
2024.

Their YoY quarterly revenues declined a quarter sooner, grew at a much slower rate and weren't
as volatile. Revenue growth is expected to slow over the next four quarters, but only slightly.

TOL 's annual earnings grew at a decelerated pace over the prior 3 years but were certainly
nothing to sneeze at.

TOL's annual revenues grew at a slower pace than their earnings over the last three years and
were also much less volatile and more stable. This is a positive.

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 Sector: Industry:

Consumer Discretionary Household Durables

Their annual estimates for both earnings and sales are expected to taper off and flatten out over
the next three years, which should be noted.

The number of funds with a position in TOL declined over the course of 2022, but that changed
notably over the course of 2023. This number was 707 funds in the last quarter of 2022, but has
picked up every quarter since and stands at 854 as of the last quarter of 2023.

Ideally, this number will continue to trend higher as TOL continues to make upside progress.

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