Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-2.94%
trims when stocks drop
when a holding falls −10%+
Middle response
-4.38%
baseline attrition
Rally response
-4.09%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| CCitigroup Inc. | $95M | 16.9% | +63.9% | 4.3 yr |
| BAYRYBayer AG | $75M | 13.3% | — | 2.5 yr |
| FLGFlagstar Financial, Inc. | $54M | 9.5% | +13.7% | 1.5 yr |
| DISThe Walt Disney Company | $37M | 6.5% | -1.3% | 2.3 yr |
| GOOGAlphabet Inc. | $35M | 6.2% | +84.3% | 1.0 yr |
| SEBSeaboard Corporation | $33M | 5.9% | +110.2% | 10.5 yr |
| OGNOrganon & Co. | $33M | 5.9% | -59.4% | 5.0 yr |
| BPBP p.l.c. | $29M | 5.2% | +47.2% | 9.5 yr |
| MRKMerck & Co., Inc. | $27M | 4.8% | +38.9% | 4.3 yr |
| ZZillow Group, Inc. Class | $23M | 4.0% | -39.6% | 0.3 yr |
| SEGSeaport Entertainment Gr | $19M | 3.4% | +0.0% | 0.8 yr |
| PTENPatterson-UTI Energy, In | $18M | 3.2% | +39.4% | 10.5 yr |
| IDTIDT Corporation | $18M | 3.2% | -3.9% | 4.3 yr |
| PFEPfizer Inc. | $14M | 2.4% | +18.8% | 10.5 yr |
| MBIMBIA Inc. | $12M | 2.2% | +18.7% | 9.8 yr |
Portfolio composition (YoY)
Industry mix
Drug Manufacturers - General30.2%-5.9pp$170M
Banks - Diversified17.1%+4.4pp$97M
Internet Content & Information10.2%+10.2pp$58M
Banks - Regional9.9%-0.7pp$56M
Entertainment6.5%-0.5pp$37M
Conglomerates5.9%+1.1pp$33M
Oil & Gas Integrated5.8%-2.5pp$33M
Real Estate - Services3.4%+3.3pp$19M
Telecommunications Services3.3%-0.5pp$19M
Oil & Gas Drilling3.2%+0.0pp$18M
Country
US78.8%+6.0pp
DE13.3%+5.3pp
GB6.9%-1.4pp
CA0.7%+0.2pp
CH0.4%-0.2pp
Top 5: 52.4% · Top 10: 78.2% · Top 25: 98.6%
Top buys this quarter · 5
| Z Zillow Group, Inc. Class Cnew | +$23M |
| OGN Organon & Co. | +$11M |
| SEG Seaport Entertainment Group In | +$7M |
| MBI MBIA Inc. | +$6M |
| CMCSA Comcast Corporation | +$0M |
Top sells this quarter · 15
| MRK Merck & Co., Inc. | −$24M |
| BP BP p.l.c. | −$20M |
| SEB Seaboard Corporation | −$32M |
| C Citigroup Inc. | −$4M |
| GOOG Alphabet Inc. | −$4M |
| WBS Webster Financial Corporationexit | −$2M |
| PFE Pfizer Inc. | −$2M |
| BMY Bristol-Myers Squibb Company | −$2M |
| DIS The Walt Disney Company | −$1M |
| FLG Flagstar Financial, Inc. | −$53M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $564M | 47 | +19.23% | +17.59% | +1.64% | -0.02B |
| 2025-12-31 | $565M | 53 | +18.27% | +17.72% | +0.56% | -0.01B |
| 2025-09-30 | $532M | 53 | +10.99% | +17.52% | -6.53% | -0.00B |
| 2025-06-30 | $498M | 50 | +0.32% | +14.94% | -14.62% | +0.01B |
| 2025-03-31 | $494M | 54 | -5.53% | +8.30% | -13.84% | +0.02B |
| 2024-12-31 | $460M | 51 | +1.73% | +24.89% | -23.16% | -0.13B |
| 2024-09-30 | $581M | 52 | +7.26% | +36.04% | -28.78% | +0.00B |
| 2024-06-30 | $595M | 51 | +9.15% | +24.49% | -15.34% | -0.03B |
| 2024-03-31 | $674M | 52 | +16.53% | +29.62% | -13.09% | -0.03B |
| 2023-12-31 | $635M | 42 | -3.07% | +26.18% | -29.25% | -0.05B |
| 2023-09-30 | $641M | 43 | +10.18% | +21.57% | -11.39% | -0.03B |
| 2023-06-30 | $682M | 43 | -1.31% | +19.42% | -20.73% | -0.01B |
| 2023-03-31 | $695M | 45 | -4.94% | -7.82% | +2.88% | -0.01B |
| 2022-12-31 | $760M | 45 | +21.09% | +7.56% | +13.52% | -0.02B |
| 2022-09-30 | $642M | 45 | -11.35% | -4.93% | -6.42% | -0.02B |
| 2022-06-30 | $743M | 45 | -4.07% | -16.11% | +12.04% | -0.01B |