AAII Model Shadow Stock Portfolio

Learn how stocks are chosen by studying the Shadow Stock Selection Rules.

Ordered By: Company Shadow Stock Holdings as of 10/31/2026.
Data delayed 15 min.

Company	Ticker	Current Price ($)	52-Week		Market- Cap Size ($ mil)	Price- Earnings Ratio (X)	Price- to- Book Ratio (X)	Rel Price Strgth (%)	Notes	News
Company	Ticker	Current Price ($)	52-Week High ($)	52-Week Low ($)	Market- Cap Size ($ mil)	Price- Earnings Ratio (X)	Price- to- Book Ratio (X)	Rel Price Strgth (%)	Notes	News
Alpha Pro Tech, Ltd.	APT	5.40	7.50	4.34	55.1	13.9	0.84	77	Currently qualifies	News Archive for APT
Amplify Energy Corp.	AMPY	4.27	6.79	3.65	177.0	8.6	0.40	24		News Archive for AMPY
Castor Maritime Inc.	CTRM	1.45	2.66	1.42	14.0	1.1	0.02	25		News Archive for CTRM
Columbus McKinnon Corporation	CMCO	14.97	24.40	11.99	427.3	nmf	0.76	53	TTM adjusted earnings positive	News Archive for CMCO
Core Molding Technologies, Inc.	CMT	22.40	28.69	16.60	191.8	26.7	1.15	37		News Archive for CMT
Alpha Pro Tech, Ltd.	ABCD	123.12	123.12	123.12	123	nmf	1.23	77
Amplify Energy Corp.	ABCD	123.12	123.12	123.12	123	nmf	1.23	24
Castor Maritime Inc.	ABCD	123.12	123.12	123.12	123	nmf	1.23	25
Columbus McKinnon Corporation	ABCD	123.12	123.12	123.12	123	nmf	1.23	53
Core Molding Technologies, Inc.	ABCD	123.12	123.12	123.12	123	nmf	1.23	37
Covenant Logistics Group, Inc.	ABCD	123.12	123.12	123.12	123	nmf	1.23	47
Ennis, Inc.	ABCD	123.12	123.12	123.12	123	nmf	1.23	59
Escalade, Incorporated	ABCD	123.12	123.12	123.12	123	nmf	1.23	68
Euroseas Ltd.	ABCD	123.12	123.12	123.12	123	nmf	1.23	51
Friedman Industries, Incorporated	ABCD	123.12	123.12	123.12	123	nmf	1.23	98
Gilat Satellite Networks Ltd.	ABCD	123.12	123.12	123.12	123	nmf	1.23	10
Hudson Technologies, Inc.	ABCD	123.12	123.12	123.12	123	nmf	1.23	24
Jerash Holdings (US), Inc.	ABCD	123.12	123.12	123.12	123	nmf	1.23	95
Kimball Electronics, Inc.	ABCD	123.12	123.12	123.12	123	nmf	1.23	50
Kolibri Global Energy Inc.	ABCD	123.12	123.12	123.12	123	nmf	1.23	82
Mastech Digital, Inc.	ABCD	123.12	123.12	123.12	123	nmf	1.23	51
Mistras Group, Inc.	ABCD	123.12	123.12	123.12	123	nmf	1.23	63
NACCO Industries, Inc.	ABCD	123.12	123.12	123.12	123	nmf	1.23	27
Natural Gas Services Group, Inc.	ABCD	123.12	123.12	123.12	123	nmf	1.23	32
Oil States International, Inc.	ABCD	123.12	123.12	123.12	123	nmf	1.23	39
Pangaea Logistics Solutions Ltd.	ABCD	123.12	123.12	123.12	123	nmf	1.23	61
Park-Ohio Holdings Corp.	ABCD	123.12	123.12	123.12	123	nmf	1.23	92
Regis Corporation	ABCD	123.12	123.12	123.12	123	nmf	1.23	67
Rocky Brands, Inc.	ABCD	123.12	123.12	123.12	123	nmf	1.23	87
Smart Sand, Inc.	ABCD	123.12	123.12	123.12	123	nmf	1.23	44
Smith Douglas Homes Corp.	ABCD	123.12	123.12	123.12	123	nmf	1.23	28
StealthGas Inc.	ABCD	123.12	123.12	123.12	123	nmf	1.23	35
The Eastern Company	ABCD	123.12	123.12	123.12	123	nmf	1.23	84
USANA Health Sciences, Inc.	ABCD	123.12	123.12	123.12	123	nmf	1.23	28
The above holdings reflect the Shadow Stock Portfolio as of 10/31/2026. Data delayed 15 min. nmf = no meaningful figure Source: AAII's Stock Investor Pro / S&P Global Market Intelligence.

AAII Model Portfolios: Individual Investor's Stock Portfolio

Explanation of Notes

Approaching Size Limit: Stocks are sold if their market capitalization goes above three times the initial maximum criterion. $400 million is the current market capitalization maximum for initial screening. Stocks are marked "approaching size limit" if their current market cap exceeds 2½ times the initial criterion—$1,000 million.

Approaching Value Limit: Stocks are sold once their price-to-book-value ratio goes above three times the initial criterion. The current initial price-to-book ceiling is 1.00. Stocks are marked "approaching value limit" if their current price-to-book ratio exceeds 2½ times the initial criterion—2.50.

Currently Qualifies: Stock still qualifies as a buy when the screen was run with the latest end-of-day data. Screens for Chinese firms and pseudo-financial firms are done manually. Stocks that don't currently qualify as a buy are held until they meet one of the sell rules.

Earnings Probation: If last 12 months' adjusted earnings from continuing operations are negative, the stock is put on probation; if a subsequent quarter has negative adjusted earnings prior to 12-month adjusted earnings becoming positive, the stock is sold. The date within the parentheses lists the fiscal quarter during which the company first reported negative trailing 12-month adjusted earnings.

Exceeds Size Limit: Stocks are sold (assuming there are passing stocks to replace them) if their market capitalization goes above three times the initial maximum criterion. $400 million is the current market capitalization maximum for initial screening. Stocks are marked "exceeds size limit" if their current market cap is equal to or exceeds 3 times the initial criterion—$1,200 million.

Exceeds Value Limit: Stocks are sold (assuming there are passing stocks to replace them) once their price-to-book-value ratio goes above three times the initial criterion. The current initial price-to-book ceiling is 1.00. Stocks are marked "exceeds value limit" if their current price-to-book ratio is equal to or exceeds 3 times the initial criterion—3.00.

No Longer Exchange Listed: Company has chosen to deregister its shares to avoid following SEC filing and reporting requirements. Its reported statements may be out of date.

TTM Adjusted Earnings Positive: Trailing four-quarter GAAP earnings are negative, resulting in no meaningful figure for the price-earnings ratio. However, adjusted earnings for the period are positive.

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