"I haven't done this yet; I have just let winners ride.
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By "winner", you mean, a stock that is still in the Top 12 sort, right? "

Until now I was using simply top 10 by 9 month momentum (with Spy required to be above its 325 day SMA, which has been for a long time).

But my research showed top 5 were much better so I am putting much more in them than #6-10 (by chance INTC was # 10 before I did this so I doubled my money on INTC in one month).

And now the overlap strategy that overlaps the top 5 with the top 5 of the related Nasdaq100 screen (price/ (highest price in 1 year + lowest price in 1 year) ) tested even better (but you won't have 5 stocks; 20% of the time there are no overlaps and 3 stocks is typical) is better yet, so I have to decide how concentrated I can tolerate. MU is up over 500%.

The testing showed buying more of existing holdings as long as they keep showing up on the overlap list was even better (using proceeds of sales of stocks leaving the list); that will be scarier yet but is what the testing showed. With MU I would have made even more doing this i.e. when I was up 300% buying yet more as it went up over 500%.

Top 10 momentum by 9 months to 12 months is good. 9 better than 12. Timed with SPY rule better yet. Price/high+low top stocks also good, and when combined as an overlap even better.

Version 10/29/1993–4/9/2026 CAGR Sharpe UI MDD
Monthly equal rebalance 41.8% 1.14 16.9 -42.4%
Hold until removed, invest cash only in new names 43.2% 1.13 18.9 -43.7%

Post-1999 check:
Version Post-1999 CAGR
Monthly equal rebalance 31.1%
Hold until removed 35.8%