Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-2.30%
trims when stocks drop
when a holding falls −10%+
Middle response
+0.48%
steady accumulation
Rally response
+1.03%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| CORTCorcept Therapeutics Inc | $307M | 10.9% | -64.7% | 10.0 yr |
| XOMExxon Mobil Corporation | $115M | 4.1% | +47.6% | 10.0 yr |
| CNQCanadian Natural Resourc | $114M | 4.0% | +66.0% | 10.0 yr |
| WMBThe Williams Companies, | $101M | 3.6% | +25.8% | 10.0 yr |
| PAASPan American Silver Corp | $97M | 3.5% | +114.7% | 7.0 yr |
| GOOGLAlphabet Inc. | $87M | 3.1% | — | 10.0 yr |
| AAPLApple Inc. | $87M | 3.1% | +14.7% | 9.0 yr |
| BRK-BBerkshire Hathaway Inc. | $83M | 3.0% | — | 9.0 yr |
| MSFTMicrosoft Corporation | $72M | 2.6% | -0.6% | 10.0 yr |
| JPMJPMorgan Chase & Co. | $57M | 2.0% | +21.8% | 10.0 yr |
| AMZNAmazon.com, Inc. | $45M | 1.6% | +9.5% | 9.0 yr |
| GOOGAlphabet Inc. | $42M | 1.5% | +84.3% | 10.0 yr |
| NVDANVIDIA Corporation | $40M | 1.4% | +60.9% | 9.0 yr |
| OMEROmeros Corporation | $38M | 1.3% | +28.5% | 10.0 yr |
| DEDeere & Company | $36M | 1.3% | +21.2% | 10.0 yr |
Portfolio composition (YoY)
Industry mix
Biotechnology12.4%-18.2pp$350M
Oil & Gas Exploration & Production6.4%+2.2pp$181M
Internet Content & Information6.1%+2.4pp$171M
Oil & Gas Integrated5.4%+1.4pp$152M
Drug Manufacturers - General5.1%+1.2pp$143M
Oil & Gas Midstream4.3%+0.9pp$121M
Asset Management3.8%+1.5pp$107M
Software - Infrastructure3.6%-0.1pp$103M
Banks - Diversified3.6%+0.9pp$101M
Silver3.5%+2.0pp$97M
Country
US84.7%-5.3pp
CA8.9%+3.9pp
CH1.9%+0.6pp
Unknown1.3%+0.7pp
FR0.9%+0.4pp
GB0.6%-0.5pp
IE0.6%+0.0pp
TW0.5%+0.2pp
Top 5: 26.1% · Top 10: 39.8% · Top 25: 57.8%
Top buys this quarter · 15
| CORT Corcept Therapeutics Incorpora | +$17M |
| NFLX Netflix, Inc. | +$8M |
| TBN Tamboran Resources Corp | +$7M |
| AZN AstraZeneca PLCnew | +$6M |
| PYPL PayPal Holdings, Inc. | +$5M |
| ABT Abbott Laboratories | +$32M |
| UBER Uber Technologies, Inc. | +$5M |
| NN NextNav Inc. | +$4M |
| RRC Range Resources Corporation | +$4M |
| FOUR Shift4 Payments, Inc. | +$4M |
Top sells this quarter · 15
| FCX Freeport-McMoRan Inc. | −$5M |
| C Citigroup Inc. | −$4M |
| F-PD Ford Motor Company 6.500% Note | −$4M |
| CNQ Canadian Natural Resources Lim | −$81M |
| JCI Johnson Controls International | −$3M |
| DAL Delta Air Lines, Inc. | −$2M |
| WK Workiva Inc. | −$2M |
| SPY State Street SPDR S&P 500 ETF | −$2M |
| MRK Merck & Co., Inc. | −$23M |
| ZION Zions Bancorporation, National | −$2M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $2.82B | 452 | -6.37% | +17.59% | -23.96% | +0.00B |
| 2025-12-31 | $2.71B | 443 | +10.76% | +17.72% | -6.96% | -0.05B |
| 2025-09-30 | $3.04B | 449 | +25.70% | +17.52% | +8.18% | -0.00B |
| 2025-06-30 | $2.81B | 441 | +27.85% | +14.94% | +12.90% | +0.04B |
| 2025-03-31 | $3.02B | 429 | +45.94% | +8.30% | +37.64% | -0.09B |
| 2024-12-31 | $2.53B | 422 | +22.33% | +24.89% | -2.56% | -0.09B |
| 2024-09-30 | $2.55B | 432 | +31.27% | +36.04% | -4.77% | -0.00B |
| 2024-06-30 | $2.31B | 406 | +18.24% | +24.49% | -6.25% | -0.04B |
| 2024-03-31 | $2.25B | 418 | +20.25% | +29.62% | -9.37% | -0.01B |
| 2023-12-31 | $2.19B | 414 | +22.73% | +26.18% | -3.45% | -0.09B |
| 2023-09-30 | $2.06B | 413 | +17.26% | +21.57% | -4.31% | +0.01B |
| 2023-06-30 | $2.06B | 407 | +13.03% | +19.42% | -6.40% | +0.02B |
| 2023-03-31 | $1.92B | 400 | -6.70% | -7.82% | +1.12% | +0.02B |
| 2022-12-31 | $1.81B | 404 | -15.19% | -18.17% | +2.98% | -0.05B |
| 2022-09-30 | $1.76B | 397 | -10.94% | -15.51% | +4.57% | -0.05B |
| 2022-06-30 | $1.88B | 409 | -6.54% | -10.62% | +4.08% | -0.05B |