HUSSMAN STRATEGIC ADVISORS, INC.

Quant stat arb Low signal CIK 1179475
League rank
#72
in Quant stat arb · #1777 overall
Long book
$462.5M
Q1 2026
Positions
268
Top-10 weight
9%
concentration
Last quarter
+14.6%
SPY +14.8%
Turnover
51%
of book per quarter

Strategy in plain words

auto-generated from filings

HUSSMAN STRATEGIC ADVISORS, INC. is a quantitative fund whose holdings reflect models, not opinions, running a $462.5M US long book across 268 positions.

The portfolio is broadly diversified across 268 positions (top 10 only 9%). Turnover is high — positions rotate quickly, so individual names matter less than the process. Current anchor positions: CORCEPT THERAPEUTICS INC, UNITED NATURAL FOODS INC, THE CAMPBELL'S COMPANY, APA CORP, ETSY INC.

Over the last 9 quarters its long book ran on average 0.8pp per quarter ahead of the S&P 500, beating the index in 5 of 9 quarters. Signal value of individual moves is limited — treat changes as weak evidence.

Implied long-book return vs S&P 500

methodology: positions priced quarterly, no shorts/options
Fund long book S&P 500
Q1 2024
-2.2%
Q2 2024
+7.4%
Q3 2024
+3.2%
Q4 2024
-0.5%
Q1 2025
+8.5%
Q2 2025
+16.3%
Q3 2025
+2.0%
Q4 2025
-1.8%
Q1 2026
+14.6%

Sector allocation

Healthcare
22%
Technology
15%
Consumer discretionary
14%
Services media
10%
Financials
8%
Industrials
8%
Consumer staples
7%
Other
5%

Long book by quarter

$430.0M
Q1 2024
$363.0M
Q2 2024
$407.1M
Q3 2024
$338.5M
Q4 2024
$412.6M
Q1 2025
$437.6M
Q2 2025
$461.8M
Q3 2025
$413.7M
Q4 2025
$462.5M
Q1 2026

What does HUSSMAN STRATEGIC own?

Q1 2026 13F
CompanySectorSharesValue% of bookChange
CORT CORCEPT THERAPEUTICS INCHealthcare126.0K$5.1M1.1%+300.0%
UNFI UNITED NATURAL FOODS INCConsumer discretionary105.0K$4.7M1.0%-16.7%
CPB THE CAMPBELL'S COMPANYConsumer staples210.0K$4.7M1.0%+100.0%
APA APA CORPEnergy105.0K$4.5M1.0%Held
ETSY ETSY INCServices media84.0K$4.2M0.9%Held
ANIP ANI PHARMACEUTICALS INCHealthcare52.5K$4.0M0.9%+66.7%
CNXC CONCENTRIX CORPServices media147.0K$4.0M0.9%+75.0%
SEZL SEZZLE INCServices media63.0K$4.0M0.9%+20.0%
ULTA ULTA BEAUTY INCConsumer discretionary7.3K$3.8M0.8%New
PSIX POWER SOLUTIONS INTERNATIONAIndustrials63.0K$3.8M0.8%+100.0%
DG DOLLAR GENERAL CORPConsumer discretionary31.5K$3.7M0.8%+200.0%
ACAD ACADIA PHARMACEUTICALS INCHealthcare168.0K$3.7M0.8%+14.3%
QLYS QUALYS INCTechnology42.0K$3.7M0.8%+150.0%
PGNY PROGYNY INCHealthcare210.0K$3.6M0.8%+66.7%
AEO AMERICAN EAGLE OUTFITTERSConsumer discretionary210.0K$3.5M0.8%New
COLL COLLEGIUM PHARMACEUTICAL INCHealthcare105.0K$3.5M0.8%New
IRTC IRHYTHM HOLDINGS INCHealthcare29.4K$3.5M0.8%+100.0%
INVA INNOVIVA INCHealthcare147.0K$3.4M0.7%+40.0%
HALO HALOZYME THERAPEUTICS INCHealthcare52.5K$3.4M0.7%Held
VSAT VIASAT INCCommunications73.5K$3.4M0.7%-12.5%
QGEN QIAGEN N.V.Healthcare84.0K$3.4M0.7%New
TLN TALEN ENERGY CORPUtilities10.5K$3.4M0.7%+150.0%
UI UBIQUITI INCTechnology4.2K$3.3M0.7%-50.0%
SEDG SOLAREDGE TECHNOLOGIES INCTechnology63.0K$3.2M0.7%-14.3%
AMRC AMERESCO INC-CL AIndustrials126.0K$3.2M0.7%New
TMDX TRANSMEDICS GROUP INCHealthcare31.5K$3.1M0.7%+114.3%
HCSG HEALTHCARE SERVICES GROUPHealthcare168.0K$3.1M0.7%+60.0%
QSR RESTAURANT BRANDS INTERNConsumer discretionary42.0K$3.1M0.7%New
ADM ARCHER-DANIELS-MIDLAND COConsumer staples42.0K$3.1M0.7%+100.0%
FSLY FASTLY INC - CLASS ATechnology105.0K$3.1M0.7%New
ALLE ALLEGION PLCServices media21.0K$3.1M0.7%+42.9%
CRUS CIRRUS LOGIC INCTechnology21.0K$3.0M0.7%+100.0%
MEDP MEDPACE HOLDINGS INCHealthcare6.3K$3.0M0.7%New
CVS CVS HEALTH CORPHealthcare42.0K$3.0M0.7%Held
CPW CHECK POINT SOFTWARE TECH21.0K$3.0M0.6%Held
PRLB PROTO LABS INCIndustrials52.5K$3.0M0.6%New
INCY INCYTE CORPHealthcare31.5K$3.0M0.6%+25.0%
SBH SALLY BEAUTY HOLDINGS INCConsumer discretionary210.0K$2.9M0.6%+150.0%
FLNC FLUENCE ENERGY INCTechnology210.0K$2.9M0.6%New
FIVE FIVE BELOWConsumer discretionary12.6K$2.9M0.6%-14.3%
VC VISTEON CORPIndustrials31.5K$2.9M0.6%New
SHOO STEVEN MADDEN LTDOther84.0K$2.8M0.6%New
EPAM EPAM SYSTEMS INCTechnology21.0K$2.8M0.6%New
LYFT LYFT INC-AServices media210.0K$2.8M0.6%+122.2%
TR TOOTSIE ROLL INDSConsumer staples64.9K$2.8M0.6%-22.8%
NBIX NEUROCRINE BIOSCIENCES INCHealthcare21.0K$2.8M0.6%Held
SHLS SHOALS TECHNOLOGIES GROUP -ATechnology420.0K$2.8M0.6%+66.7%
STOK STOKE THERAPEUTICS INCHealthcare84.0K$2.7M0.6%+33.3%
DLO DLOCAL LTDServices media210.0K$2.7M0.6%Held
EYE NATIONAL VISION HOLDINGS INCHealthcare105.0K$2.7M0.6%Held

13F filing history

PeriodFormFiledEntriesReported valueFlagsSource
Q1 202613F-HRMay 11, 2026268$462.5M canonicalSEC ↗
Q4 202513F-HRFeb 2, 2026252$413.7M canonicalSEC ↗
Q3 202513F-HRNov 3, 2025270$461.8M canonicalSEC ↗
Q2 202513F-HRAug 5, 2025210$437.6M canonicalSEC ↗
Q1 202513F-HRMay 5, 2025232$412.6M canonicalSEC ↗
Q4 202413F-HRFeb 3, 2025234$338.5M canonicalSEC ↗
Q3 202413F-HRNov 1, 2024216$407.1M canonicalSEC ↗
Q2 202413F-HRAug 1, 2024232$363.0M canonicalSEC ↗
Q1 202413F-HRMay 1, 2024216$430.0M canonicalSEC ↗