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Supplier Customer Named 10K Graph

Updated dailyData needs: highshort only
paper
2008
Source
Cohen, L., & Frazzini, A. (2008). Economic Links and Predictable Returns. JF 63:4.
Read the paper →

In plain terms

Extracts named customer/supplier references from the firm's own 10-K filing - when one of those named partners has bad news, the firm follows.

How it works

Named-entity substring match of company names in focal's 10-K Item 1 vs the universe stocks.name. When a NAMED PEER has a negative 8-K, SHORT focal as confirmed supplier/customer.

Live results

0 times picked on its own · 234 times inside a blend (225 beat the stock) · updated 2026-06-06
This strategy is a frequent ingredient in blends that combine a few strategies on one stock. It has contributed to 234 such blended picks (225 of which beat simply holding the stock). Picking it on its own is only one of the ways it shows up.
How its picks scored vs. buy & hold
Each pick is graded on a recent year it was never tuned on, against simply owning the same stock
Where its edge concentrates
Share of picks in each company-size group that beat buy & hold
How often it trades
Active vs. patient. Bars on the left mean it waits for rare setups; bars on the right mean it trades often
Return vs. buy & hold
How much each pick beat or trailed simply owning the stock over the test year (extreme microcap moves trimmed)
Loading substrate evidence…

Data dependencies

  • SEC 10k business text

    A data feed this strategy reads, refreshed on its normal schedule.

  • SEC 8k events

    Item-coded 8-K events (1.01 material agreements, 4.02 non-reliance, etc.).

  • Stocks

    A data feed this strategy reads, refreshed on its normal schedule.

  • Daily prices

    Adjusted-close OHLCV for every US-listed ticker; primary price feed.

Expected edge

Reported return
~3-7%/yr
Reported Sharpe
~0.6
Tested over
T+1 to T+63d

Confirmed-edge graph tighter than TNIC text-similarity; Cohen-Frazzini original mechanism.

Example tickers where this is likely to fire

Illustrative only, the signal fires based on the live data, not a fixed list.

Related families

Explore Supplier Customer Named 10K Graph on alphactor.ai

See which tickers this family is currently firing on, with live signals and rankings.

For informational and educational purposes only. Not financial advice. Learn more