Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+6.24%
adds when stocks drop
when a holding falls −10%+
Middle response
-2.33%
baseline attrition
Rally response
-13.62%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| AERAerCap Holdings N.V. | $139M | 2.5% | +35.6% | 9.3 yr |
| DDominion Energy, Inc. | $98M | 1.7% | +15.4% | 10.5 yr |
| — | $97M | 1.7% | — | 1.8 yr |
| CHKPCheck Point Software Tec | $92M | 1.6% | -37.3% | 10.3 yr |
| KHCThe Kraft Heinz Company | $90M | 1.6% | -21.4% | 10.5 yr |
| LKQLKQ Corporation | $89M | 1.6% | -28.4% | 8.0 yr |
| EVRGEvergy, Inc. | $85M | 1.5% | +23.3% | 5.3 yr |
| MOSThe Mosaic Company | $77M | 1.4% | -2.7% | 9.0 yr |
| FCNCAFirst Citizens BancShare | $75M | 1.3% | — | 4.3 yr |
| GPKGraphic Packaging Holdin | $74M | 1.3% | -60.6% | 7.0 yr |
| CCICrown Castle Inc. | $74M | 1.3% | -18.3% | 10.5 yr |
| IACIAC InterActive Corp. | $73M | 1.3% | +6.3% | 5.0 yr |
| TAPMolson Coors Beverage Co | $67M | 1.2% | -26.4% | 9.3 yr |
| MKLMarkel Corporation | $67M | 1.2% | +2.4% | 10.5 yr |
| CAGConagra Brands, Inc. | $67M | 1.2% | -36.6% | 4.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management5.1%+0.6pp$289M
Unknown4.6%+0.8pp$260M
Regulated Electric4.4%-0.4pp$250M
Packaged Foods4.3%-0.1pp$245M
Internet Content & Information3.9%+0.5pp$218M
Rental & Leasing Services3.7%+0.7pp$207M
Information Technology Services3.5%+2.0pp$198M
Software - Infrastructure2.8%-0.4pp$159M
REIT - Specialty2.7%+1.4pp$152M
Drug Manufacturers - General2.7%+0.6pp$151M
Country
US85.2%+3.4pp
Unknown4.6%+0.8pp
IE4.1%-0.9pp
GB2.4%-3.0pp
IL1.6%-0.4pp
BM0.6%+0.0pp
CA0.4%+0.1pp
BE0.2%-0.0pp
Top 5: 9.1% · Top 10: 16.2% · Top 25: 33.3%
Top buys this quarter · 15
| CCI Crown Castle Inc. | +$69M |
| CHTR Charter Communications, Inc. | +$39M |
| MOH Molina Healthcare, Inc. | +$37M |
| SSNC SS&C Technologies Holdings, In | +$36M |
| HPQ HP Inc. | +$32M |
| CHKP Check Point Software Technolog | +$28M |
| CDW CDW Corporation | +$28M |
| OXY Occidental Petroleum Corporati | +$26M |
| CSGP CoStar Group, Inc. | +$25M |
| CTSH Cognizant Technology Solutions | +$21M |
Top sells this quarter · 15
| HII Huntington Ingalls Industries, | −$72M |
| WLK Westlake Corporation | −$62M |
| KMI Kinder Morgan, Inc. | −$48M |
| NE Noble Corporation Plc | −$45M |
| ADM Archer-Daniels-Midland Company | −$41M |
| WCC WESCO International, Inc. | −$38M |
| PPG PPG Industries, Inc. | −$33M |
| ALGN Align Technology, Inc.exit | −$27M |
| POST Post Holdings, Inc. | −$27M |
| CCK Crown Holdings, Inc. | −$24M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $5.66B | 409 | +12.64% | +17.59% | -4.95% | -0.26B |
| 2025-12-31 | $5.94B | 398 | +14.29% | +17.72% | -3.43% | -0.33B |
| 2025-09-30 | $6.16B | 402 | +10.82% | +17.52% | -6.69% | -0.16B |
| 2025-06-30 | $5.93B | 386 | +12.89% | +14.94% | -2.05% | -0.20B |
| 2025-03-31 | $5.89B | 379 | +5.13% | +8.30% | -3.18% | -0.57B |
| 2024-12-31 | $6.38B | 377 | +13.91% | +24.89% | -10.98% | -0.18B |
| 2024-09-30 | $6.65B | 379 | +26.01% | +36.04% | -10.03% | -0.10B |
| 2024-06-30 | $6.22B | 353 | +13.28% | +24.49% | -11.21% | -0.08B |
| 2024-03-31 | $6.50B | 353 | +21.72% | +29.62% | -7.90% | -0.27B |
| 2023-12-31 | $6.18B | 521 | +14.11% | +26.18% | -12.06% | -0.39B |
| 2023-09-30 | $6.02B | 534 | +16.56% | +21.57% | -5.01% | -0.10B |
| 2023-06-30 | $6.27B | 529 | +12.08% | +19.42% | -7.35% | -0.16B |
| 2023-03-31 | $6.17B | 538 | -3.54% | -7.82% | +4.28% | -0.18B |
| 2022-12-31 | $6.18B | 551 | -10.52% | -18.17% | +7.66% | -0.26B |
| 2022-09-30 | $5.78B | 550 | -10.88% | -15.51% | +4.62% | -0.06B |
| 2022-06-30 | $6.22B | 557 | -4.49% | -10.62% | +6.13% | -0.08B |