Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+0.03%
adds when stocks drop
when a holding falls −10%+
Middle response
-4.60%
baseline attrition
Rally response
-6.36%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| KEATKeating Active ETF | $111M | 27.4% | — | 2.3 yr |
| STIPiShares 0-5 Year TIPS Bo | $66M | 16.3% | — | 4.3 yr |
| BILState Street SPDR Bloomb | $23M | 5.7% | — | 2.8 yr |
| AEMAgnico Eagle Mines Limit | $20M | 5.0% | +89.2% | 4.3 yr |
| BBarrick Mining Corporati | $20M | 4.9% | +114.9% | 1.0 yr |
| OIIOceaneering Internationa | $12M | 3.0% | +62.6% | 4.0 yr |
| SUSuncor Energy Inc. | $11M | 2.8% | +77.6% | 5.5 yr |
| VODVodafone Group Public Li | $11M | 2.6% | +67.6% | 3.3 yr |
| EQNREquinor ASA | $10M | 2.6% | +68.1% | 6.5 yr |
| GSKGSK plc | $10M | 2.4% | +48.1% | 2.3 yr |
| TTETotalEnergies SE | $9M | 2.3% | +47.5% | 5.0 yr |
| CRRFYCarrefour S.A. | $9M | 2.1% | — | 1.3 yr |
| VZVerizon Communications I | $7M | 1.8% | +16.5% | 10.5 yr |
| TALOTalos Energy Inc. | $7M | 1.7% | +62.1% | 4.8 yr |
| LMTLockheed Martin Corporat | $6M | 1.6% | +39.0% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management49.9%+0.8pp$202M
Gold10.5%+6.5pp$42M
Oil & Gas Integrated9.0%+1.5pp$36M
Telecommunications Services4.4%-0.8pp$18M
Oil & Gas Equipment & Services3.7%+0.2pp$15M
Grocery Stores3.7%+0.4pp$15M
Drug Manufacturers - General2.7%-0.4pp$11M
Oil & Gas Exploration & Production2.7%+1.1pp$11M
Aerospace & Defense1.6%-0.0pp$6M
Silver1.6%+0.7pp$6M
Country
US67.1%-4.7pp
CA14.5%+6.7pp
GB8.7%+1.1pp
FR4.5%+0.3pp
NO2.6%+0.5pp
Unknown1.5%-3.5pp
CH1.1%-0.4pp
NL0.1%
Top 5: 59.3% · Top 10: 72.7% · Top 25: 93.2%
Top buys this quarter · 15
| FLO Flowers Foods, Inc.new | +$1M |
| COST Costco Wholesale Corporationnew | +$1M |
| LW Lamb Weston Holdings, Inc. | +$0M |
| PSX Phillips 66 | +$0M |
| NG NovaGold Resources Inc. | +$0M |
| PAAS Pan American Silver Corp. | +$0M |
| COP ConocoPhillips | +$0M |
| LMT Lockheed Martin Corporation | +$0M |
| CALM Cal-Maine Foods, Inc. | +$3M |
| NEM Newmont Corporation | +$0M |
Top sells this quarter · 15
| PM Philip Morris International In | −$3M |
| JNJ Johnson & Johnson | −$2M |
| HD The Home Depot, Inc. | −$1M |
| WY Weyerhaeuser Companyexit | −$1M |
| OII Oceaneering International, Inc | −$9M |
| XOM Exxon Mobil Corporation | −$2M |
| TMO Thermo Fisher Scientific Inc. | −$0M |
| SU Suncor Energy Inc. | −$8M |
| INTC Intel Corporationexit | −$0M |
| SYK Stryker Corporation | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $404M | 59 | +46.25% | +17.59% | +28.66% | -0.02B |
| 2025-12-31 | $361M | 62 | +33.96% | +17.72% | +16.24% | -0.02B |
| 2025-09-30 | $350M | 61 | +19.98% | +17.52% | +2.46% | -0.03B |
| 2025-06-30 | $331M | 61 | +13.77% | +14.94% | -1.17% | -0.00B |
| 2025-03-31 | $332M | 65 | +10.58% | +8.30% | +2.28% | -0.01B |
| 2024-12-31 | $320M | 67 | +7.87% | +24.89% | -17.02% | -0.00B |
| 2024-09-30 | $335M | 69 | +17.65% | +36.04% | -18.39% | -0.00B |
| 2024-06-30 | $312M | 68 | +10.38% | +24.49% | -14.12% | +0.01B |
| 2024-03-31 | $310M | 80 | +13.88% | +29.62% | -15.74% | +0.02B |
| 2023-12-31 | $280M | 84 | +6.85% | +26.18% | -19.32% | -0.03B |
| 2023-09-30 | $295M | 82 | +18.94% | +21.57% | -2.62% | +0.01B |
| 2023-06-30 | $277M | 79 | +7.33% | +19.42% | -12.09% | +0.01B |
| 2023-03-31 | $265M | 80 | -0.63% | -7.82% | +7.19% | +0.01B |
| 2022-12-31 | $255M | 79 | +16.89% | +7.56% | +9.33% | -0.01B |
| 2022-09-30 | $223M | 58 | -8.21% | -4.93% | -3.28% | +0.01B |
| 2022-06-30 | $237M | 58 | -6.30% | -16.11% | +9.81% | +0.02B |