Main themes that were winners last week were: solar, home builders, fertilizer, retail, coal, oil services, and infrastructure. The fund was represented very well - of the 52 long positions, 17 were represented in this group (I bolded the names) [note: PBR is represented by its very heavy weighting in Brazilian index ETF - EWZ]. This is essentially why the fund was able to outperform once again last week, despite having quite substantial cash holdings - having 3 of the top holdings earn 11-17% also did not hurt.
Quite a few old positions in the fund also did well, I shaded those in green
You can also see the 'typical' suspects - Google, Apple, Research in Motion, Baidu.com etc are nowhere to be found - this is why it's important to be aware of all the hidden bull markets; not just the ones popular in Money Magazine or CNBC TV.
| Symbol | Company Name | % Price Change 1 Week |
| LDK | LDK Solar Co Ltd | 54.8 |
| UAPH | UAP Hldg Corp | 27.9 |
| CTX | Centex Corp | 23.7 |
| ATVI | Activision Inc | 21.0 |
| GA | Giant Interactive Group Inc | 20.4 |
| YGE | Yingli Green Energy Holding Co Ltd | 19.9 |
| LEAP | Leap Wireless International Inc | 18.9 |
| CROX | Crocs Inc | 17.2 |
| CTV | CommScope Inc | 16.6 |
| FDG | FORDING INC | 16.4 |
| AZO | AutoZone Inc | 16.3 |
| VIP | VympelKom OAO | 15.8 |
| DHI | D.R. Horton Inc | 15.8 |
| LEN | Lennar Corp Ord Shs Class A | 15.7 |
| MOS | Mosaic Co | 15.2 |
| JWN | Nordstrom Inc | 14.9 |
| WJAFF | WestJet Airlines Ord Shs | 14.7 |
| MTG | MGIC Investment Corp | 14.6 |
| LULU | lululemon athletica inc | 14.1 |
| WDC | Western Digital Corp | 13.9 |
| KBH | KB Home | 13.5 |
| CBD | Companhia Brasileira de Distribuicao ADR | 13.2 |
| HANS | Hansen Natural Corp | 13.2 |
| EJ | E House China Holdings Ltd | 13.0 |
| PHM | Pulte Homes Inc | 12.7 |
| JEC | Jacobs Engineering Group Inc | 12.3 |
| OII | Oceaneering International Inc | 12.1 |
| AMCN | AirMedia Group Inc | 12.0 |
| DISCA | Discovery Holding Series A Ord Shs | 11.4 |
| R | Ryder System Inc | 11.4 |
| PCAR | Paccar Inc | 11.4 |
| SNPS | Synopsys Inc | 11.3 |
| FWLT | Foster Wheeler Ord Shs | 11.1 |
| CNW | Con-Way Inc | 11.1 |
| SID | Sid Nacional ADR Repstg One Ord Shs | 10.8 |
| PBR | Petroleo Brasileiro ADR Reptg 2 Ord Shs | 10.8 |
| HES | Hess Corp | 10.4 |
| CBI | Chicago Bridge & Iron Co NV | 10.3 |
| CSE | CapitalSource Inc | 10.3 |
| BG | Bunge Ord Shs | 10.2 |
| VMI | Valmont Industries Inc | 10.2 |
| STLD | Steel Dynamics Inc | 10.1 |
| TLK | Telkom Indonesia ADR | 10.1 |
| RRI | Reliant Energy Inc | 10.1 |
| CPRT | Copart Inc | 9.9 |
| KBR | KBR Inc | 9.9 |
| MTL | Mechel ADR Rep 3 Ord Shs | 9.8 |
| AGU | AGRIUM INC | 9.8 |
| AAP | Advance Auto Parts Inc | 9.8 |
| ANR | Alpha Natural Resources Inc | 9.8 |
| CMG | Chipotle Mexican Grill Ord Shs | 9.7 |
| BDC | Belden Inc | 9.7 |
| AXS | Axis Capital Ord Shs | 9.7 |
| TOL | Toll Brothers Inc | 9.7 |
| FNF | Fidelity National Financial Inc | 9.6 |
| GFA | Gafisa ADR Representing 2 Ord Shs | 9.5 |
| ARG | Airgas Inc | 9.5 |
| MTU | Mitsubishi UFJ Financial Group ADR | 9.4 |
| BID | Sothebys | 9.4 |
| BPOP | Popular Ord Shs | 9.4 |
| SSRI | Silver Standard Ord Shs | 9.3 |
| FCX | Freeport McMoRan Copper & Gold | 9.3 |
| SWN | Southwestern Energy Co | 9.3 |
| ACM | AECOM Technology Corp | 9.3 |
| BGC | General Cable Ord Shs | 9.3 |
| LSTR | Landstar System Inc | 9.3 |
| ERJ | Embraer-Empresa Brasileira de Aeronautica ADR | 9.2 |
| TSRA | Tessera Technologies | 9.2 |
| SHLD | Sears Holdings Corp | 9.1 |
| ITRI | Itron Inc | 8.8 |
| DECK | Deckers Outdoor Corp | 8.8 |
| GEF | Greif Class A Ord Shs | 8.8 |
| CY | Cypress Semiconductor Corp | 8.7 |
| CLF | Cleveland Cliffs Ord Shs | 8.7 |
| APC | Anadarko Petroleum Ord Shs | 8.6 |
| HXM | Desarrolladora Homex DR | 8.6 |
| CTAS | Cintas Corp | 8.6 |
| JCP | JC Penney Co Inc | 8.6 |
| RVBD | Riverbed Technology Inc | 8.5 |
| SON | Sonoco Products Co | 8.5 |
| RMBS | Rambus Inc | 8.5 |
| ES | Energy Solutions Inc | 8.4 |
| RSH | RadioShack Corp | 8.4 |
| NTXFF | Natixis | 8.3 |
| ELN | Elan Depository Receipt | 8.3 |
| RDY | Dr Reddy Labs Depository Receipt | 8.3 |
| OMX | OfficeMax Inc | 8.2 |
| IFX | Infineon Technol Depository Receipt | 8.2 |
| STX | Seagate Technology | 8.1 |
| AME | Ametek Inc | 8.1 |
| SLW | Silver Wheaton Corp | 8.1 |
| NFX | Newfield Exploration Co | 8.1 |
| NCX | NOVA CHEMICALS CORP | 8.0 |
| NOV | National Oilwell Varco Inc | 7.9 |
| OI | Owens Illinois Ord Shs | 7.9 |
| THO | Thor Industries Inc | 7.9 |
| SFI | iStar Financial Ord Shs | 7.8 |
| POT | POTASH CORPORATION OF SASKATCHEWAN INC | 7.8 |
| FE | FirstEnergy Corp | 7.8 |
| PTNR | Partner Communications Co Ltd | 7.8 |
| ISRG | Intuitive Surgical Inc | 7.7 |
| BEAV | BE Aerospace Inc | 7.7 |
| URBN | Urban Outfitters Inc | 7.7 |
| TRN | Trinity Industries Inc | 7.7 |
| CA | CA Inc | 7.7 |
| OGZPY | Gazprom Rep 4 Ord Shs ADR | 7.6 |
| DO | Diamond Offshore Drilling Inc | 7.6 |
| AKS | AK Steel Holding Corp | 7.6 |
| EQR | Equity Residential Ord Shs | 7.6 |
| FL | Foot Locker Inc | 7.6 |
| BLK | Blackrock Inc | 7.5 |
| SAY | Satyam Computer Services ADR | 7.5 |
| FAST | Fastenal Co | 7.5 |
| AVT | Avnet Inc | 7.5 |
| EGN | Energen Corp | 7.5 |
| SPWR | SunPower Corp | 7.4 |
| IFN | India Fund ETF | 7.4 |
| CME | CME Group Inc | 7.4 |
| RS | Reliance Steel & Aluminum Co | 7.4 |
| NVDA | NVIDIA Corp | 7.4 |
| MXIM | Maxim Integrated Products Inc | 7.4 |
| FLR | Fluor Corp | 7.4 |
| PKX | Posco Depository Receipt | 7.4 |
| CTSH | Cognizant Technology Solutions Corp | 7.3 |
| GSF | GlobalSantaFe Corp | 7.3 |
| NTAP | Network Appliance Inc | 7.3 |
| PMTC | Parametric Technology Corp | 7.3 |
| CNX | CONSOL Energy Inc | 7.3 |
| FAF | First American Corp | 7.3 |
| NSM | National Semiconductor Corp | 7.3 |
| JASO | JA Solar Holdings Co Ltd | 7.2 |
| CEDC | Central European Distribution Corp | 7.2 |
| CBE | Cooper Industries Ltd | 7.2 |
| MGM | MGM Mirage | 7.2 |
| CIG | Companhia Energetica Minas Gerais ADR | 7.1 |
| OSIP | OSI Pharmaceutical Ord Shs | 7.1 |
| IVZ | Invesco Ord Shs | 7.1 |
| DRC | Dresser-Rand Group Inc | 7.1 |
| DNR | Denbury Resources Inc | 7.0 |
| BBD | Banco Bradesco ADR | 7.0 |
