Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-4.04%
trims when stocks drop
when a holding falls −10%+
Middle response
-11.08%
baseline attrition
Rally response
-6.45%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| AMZNAmazon.com, Inc. | $404M | 19.4% | +9.5% | 5.5 yr |
| TDSTelephone and Data Syste | $278M | 13.3% | +9.1% | 2.8 yr |
| CRH.LCRH plc | $200M | 9.6% | — | 2.0 yr |
| SGISomnigroup International | $168M | 8.1% | +24.4% | 0.8 yr |
| CRSCarpenter Technology Cor | $122M | 5.9% | +118.3% | 1.8 yr |
| MTZMasTec, Inc. | $103M | 4.9% | +175.7% | 0.8 yr |
| DHRDanaher Corporation | $100M | 4.8% | -7.1% | 10.3 yr |
| TSMTaiwan Semiconductor Man | $93M | 4.5% | +105.6% | 3.0 yr |
| APGAPi Group Corporation | $82M | 3.9% | +70.0% | 0.5 yr |
| LYVLive Nation Entertainmen | $71M | 3.4% | +16.8% | 2.0 yr |
| METAMeta Platforms, Inc. | $51M | 2.5% | -0.4% | 6.0 yr |
| GOOGLAlphabet Inc. | $50M | 2.4% | — | 5.0 yr |
| GLDSPDR Gold Shares | $41M | 2.0% | — | 0.3 yr |
| HUT.TOHut 8 Mining Corp. | $41M | 2.0% | +290.2% | 0.3 yr |
| NVDANVIDIA Corporation | $33M | 1.6% | +60.9% | 1.5 yr |
Portfolio composition (YoY)
Industry mix
Specialty Retail19.4%+10.3pp$404M
Telecommunications Services13.3%+7.6pp$278M
Construction Materials9.6%+5.8pp$200M
Semiconductors9.1%+2.0pp$190M
Engineering & Construction8.9%+6.2pp$185M
Household & Personal Products8.1%+4.7pp$168M
Manufacturing - Metal Fabrication5.9%+3.4pp$122M
Internet Content & Information4.9%+4.4pp$102M
Medical - Diagnostics & Research4.8%$100M
Entertainment3.4%-0.9pp$71M
Country
US83.2%+3.9pp
IE9.6%+5.8pp
TW4.5%-0.2pp
CA2.0%-1.5pp
NL0.8%
Top 5: 56.3% · Top 10: 77.8% · Top 25: 98.1%
Top buys this quarter · 7
| HUT.TO Hut 8 Mining Corp.new | +$57M |
| KLAC KLA Corporationnew | +$16M |
| LRCX Lam Research Corporationnew | +$16M |
| AVGO Broadcom Inc.new | +$15M |
| SPRY ARS Pharmaceuticals, Inc. | +$4M |
| GLD SPDR Gold Sharesnew | +$0M |
| SMH VanEck Semiconductor ETFnew | +$0M |
Top sells this quarter · 15
| PCG PG&E Corporationexit | −$603M |
| NVDA NVIDIA Corporation | −$481M |
| UNP Union Pacific Corporation | −$415M |
| MSFT Microsoft Corporationexit | −$342M |
| CASY Casey's General Stores, Inc.exit | −$331M |
| NSC Norfolk Southern Corporation | −$251M |
| BN Brookfield Corporationexit | −$251M |
| MTZ MasTec, Inc. | −$195M |
| LYV Live Nation Entertainment, Inc | −$192M |
| CRS Carpenter Technology Corporati | −$187M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $2.08B | 33 | +20.47% | +17.59% | +2.88% | -5.15B |
| 2025-12-31 | $7.26B | 43 | +15.29% | +17.72% | -2.43% | -1.43B |
| 2025-09-30 | $8.37B | 43 | +18.19% | +17.52% | +0.67% | +0.23B |
| 2025-06-30 | $7.61B | 50 | +17.21% | +14.94% | +2.27% | +0.69B |
| 2025-03-31 | $6.36B | 43 | +11.58% | +8.30% | +3.28% | -0.72B |
| 2024-12-31 | $7.43B | 42 | +32.18% | +24.89% | +7.29% | -0.48B |
| 2024-09-30 | $7.43B | 42 | +41.66% | +36.04% | +5.62% | -1.84B |
| 2024-06-30 | $8.74B | 44 | +28.45% | +24.49% | +3.96% | +0.62B |
| 2024-03-31 | $7.84B | 39 | +28.28% | +29.62% | -1.35% | +0.35B |
| 2023-12-31 | $6.64B | 37 | +10.04% | +26.18% | -16.14% | -0.83B |
| 2023-09-30 | $6.55B | 40 | +2.20% | +21.57% | -19.37% | -0.02B |
| 2023-06-30 | $6.82B | 45 | +16.23% | +19.42% | -3.19% | +0.50B |
| 2023-03-31 | $6.11B | 46 | -5.84% | -7.82% | +1.98% | +0.34B |
| 2022-12-31 | $5.96B | 43 | +6.02% | +7.56% | -1.54% | +0.12B |
| 2022-09-30 | $5.51B | 59 | +9.45% | -4.93% | +14.38% | +0.89B |
| 2022-06-30 | $4.22B | 57 | -16.14% | -16.11% | -0.03% | -2.22B |