Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+1.79%
adds when stocks drop
when a holding falls −10%+
Middle response
-0.45%
baseline attrition
Rally response
-1.43%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| AAPLApple Inc. | $187M | 8.6% | +14.7% | 10.3 yr |
| MSFTMicrosoft Corporation | $74M | 3.4% | -0.6% | 10.5 yr |
| MMM3M Company | $74M | 3.4% | +0.7% | 10.5 yr |
| JPMJPMorgan Chase & Co. | $73M | 3.3% | +21.8% | 10.5 yr |
| BRK-BBerkshire Hathaway Inc. | $68M | 3.1% | — | 10.3 yr |
| AMZNAmazon.com, Inc. | $60M | 2.7% | +9.5% | 10.3 yr |
| GOOGLAlphabet Inc. | $54M | 2.5% | — | 10.5 yr |
| NVDANVIDIA Corporation | $49M | 2.2% | +60.9% | 8.5 yr |
| XOMExxon Mobil Corporation | $45M | 2.1% | +47.6% | 10.5 yr |
| VOOVanguard S&P 500 ETF | $41M | 1.9% | — | 10.5 yr |
| NEENextEra Energy, Inc. | $32M | 1.4% | +34.9% | 10.5 yr |
| LLYEli Lilly and Company | $28M | 1.3% | +12.2% | 10.5 yr |
| CATCaterpillar Inc. | $27M | 1.2% | +117.8% | 10.5 yr |
| BRK-ABerkshire Hathaway Inc. | $26M | 1.2% | — | 10.3 yr |
| GOOGAlphabet Inc. | $25M | 1.2% | +84.3% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management20.4%+3.0pp$445M
Consumer Electronics8.6%-0.2pp$187M
Drug Manufacturers - General5.0%-0.3pp$109M
Software - Infrastructure4.5%-1.0pp$98M
Banks - Diversified4.5%+0.2pp$97M
Insurance - Diversified4.4%-1.6pp$97M
Internet Content & Information4.0%+1.5pp$88M
Conglomerates4.0%-0.7pp$87M
Semiconductors3.9%+1.2pp$86M
Specialty Retail3.1%-0.4pp$69M
Country
US95.9%-0.7pp
CA2.0%+0.7pp
IE0.9%+0.0pp
TW0.2%+0.1pp
BM0.2%-0.0pp
CH0.2%-0.0pp
Unknown0.1%+0.1pp
GB0.1%-0.2pp
Top 5: 21.7% · Top 10: 33.1% · Top 25: 48.8%
Top buys this quarter · 15
| AAPL Apple Inc. | +$41M |
| JPM JPMorgan Chase & Co. | +$32M |
| MSFT Microsoft Corporation | +$26M |
| NVDA NVIDIA Corporation | +$25M |
| NEE NextEra Energy, Inc. | +$24M |
| EMR Emerson Electric Co. | +$17M |
| RTX RTX Corporation | +$14M |
| AMZN Amazon.com, Inc. | +$13M |
| GOOG Alphabet Inc. | +$11M |
| NOC Northrop Grumman Corporation | +$10M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $2.19B | 486 | +15.06% | +17.59% | -2.53% | +0.42B |
| 2025-12-31 | $1.82B | 460 | +15.96% | +17.72% | -1.76% | +0.02B |
| 2025-09-30 | $1.76B | 457 | +13.53% | +17.52% | -3.99% | -0.00B |
| 2025-06-30 | $1.63B | 437 | +14.72% | +14.94% | -0.22% | -0.32B |
| 2025-03-31 | $1.83B | 431 | +10.10% | +8.30% | +1.80% | +0.02B |
| 2024-12-31 | $1.84B | 440 | +19.64% | +24.89% | -5.24% | +0.26B |
| 2024-09-30 | $1.58B | 443 | +31.92% | +36.04% | -4.12% | -0.03B |
| 2024-06-30 | $1.47B | 438 | +16.39% | +24.49% | -8.10% | -0.03B |
| 2024-03-31 | $1.46B | 437 | +21.17% | +29.62% | -8.45% | -0.03B |
| 2023-12-31 | $1.40B | 429 | +19.14% | +26.18% | -7.03% | +0.00B |
| 2023-09-30 | $1.26B | 417 | +15.73% | +21.57% | -5.84% | +0.00B |
| 2023-06-30 | $1.31B | 425 | +13.35% | +19.42% | -6.08% | -0.01B |
| 2023-03-31 | $1.24B | 420 | -7.27% | -7.82% | +0.55% | -0.01B |
| 2022-12-31 | $1.20B | 415 | -15.60% | -18.17% | +2.57% | +0.00B |
| 2022-09-30 | $1.11B | 411 | -12.81% | -15.51% | +2.70% | +0.06B |
| 2022-06-30 | $1.11B | 407 | -7.11% | -10.62% | +3.51% | -0.04B |