Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-2.35%
trims when stocks drop
when a holding falls −10%+
Middle response
-5.90%
baseline attrition
Rally response
-8.37%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| ECMLEuclidean Fundamental Va | $77M | 18.5% | — | 3.0 yr |
| DISThe Walt Disney Company | $19M | 4.6% | -1.3% | 1.0 yr |
| SOLVSolventum Corporation | $19M | 4.5% | -14.1% | 1.0 yr |
| — | $17M | 4.2% | — | 0.5 yr |
| WMGWarner Music Group Corp. | $17M | 4.0% | -16.4% | 0.5 yr |
| IQVIQVIA Holdings Inc. | $16M | 3.9% | -3.3% | 1.3 yr |
| — | $16M | 3.8% | — | 0.8 yr |
| SONYSony Group Corporation | $14M | 3.4% | -18.3% | 1.8 yr |
| HLNHaleon plc | $14M | 3.4% | -2.2% | 3.8 yr |
| MDTMedtronic plc | $13M | 3.2% | -1.3% | 9.0 yr |
| BLCOBausch + Lomb Corporatio | $13M | 3.2% | +9.7% | 3.8 yr |
| AVNSAvanos Medical, Inc. | $12M | 2.8% | -2.2% | 1.3 yr |
| STTKShattuck Labs, Inc. | $9M | 2.3% | +576.8% | 5.5 yr |
| SNNSmith & Nephew plc | $7M | 1.7% | +12.9% | 3.3 yr |
| GILDGilead Sciences, Inc. | $4M | 0.9% | +27.7% | 10.3 yr |
Portfolio composition (YoY)
Industry mix
Asset Management18.8%-1.8pp$78M
Entertainment9.2%+8.7pp$38M
Unknown8.0%+7.6pp$33M
Medical - Devices7.8%-3.6pp$32M
Drug Manufacturers - Specialty & Generic5.6%+0.1pp$23M
Medical - Care Facilities5.2%+4.6pp$22M
Biotechnology4.8%+2.3pp$20M
Software - Infrastructure4.5%+2.4pp$19M
Medical - Diagnostics & Research3.9%+0.3pp$16M
Consumer Electronics3.6%-0.3pp$15M
Country
US77.1%+4.0pp
Unknown8.0%+7.6pp
GB5.0%-11.5pp
JP3.4%+0.2pp
IE3.2%-1.5pp
CA3.2%+1.2pp
CH0.1%+0.0pp
Top 5: 35.8% · Top 10: 53.6% · Top 25: 71.4%
Top buys this quarter · 15
| WMG Warner Music Group Corp. | +$10M |
| SONY Sony Group Corporation | +$9M |
| IQV IQVIA Holdings Inc. | +$6M |
| SOLV Solventum Corporation | +$5M |
| DIS The Walt Disney Company | +$4M |
| INDV Indivior Pharmaceuticals Incnew | +$3M |
| CDW CDW Corporationnew | +$2M |
| DORM Dorman Products, Inc.new | +$2M |
| ADBE Adobe Inc.new | +$2M |
| DECK Deckers Outdoor Corporationnew | +$2M |
Top sells this quarter · 15
| RTO Rentokil Initial plcexit | −$6M |
| HLN Haleon plc | −$4M |
| SLB SLB N.V.exit | −$3M |
| HAL Halliburton Companyexit | −$3M |
| OSK Oshkosh Corporationexit | −$3M |
| LEA Lear Corporationexit | −$3M |
| SNN Smith & Nephew plc | −$3M |
| MIDD The Middleby Corporationexit | −$2M |
| MTX Minerals Technologies Inc.exit | −$2M |
| TGNA TEGNA Inc.exit | −$2M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $416M | 97 | +0.69% | +17.59% | -16.90% | +0.02B |
| 2025-12-31 | $412M | 98 | +7.77% | +17.72% | -9.95% | -0.04B |
| 2025-09-30 | $438M | 99 | -2.11% | +17.52% | -19.63% | -0.03B |
| 2025-06-30 | $446M | 97 | +7.42% | +14.94% | -7.52% | -0.02B |
| 2025-03-31 | $472M | 94 | +3.40% | +8.30% | -4.91% | -0.06B |
| 2024-12-31 | $517M | 92 | +6.88% | +24.89% | -18.00% | +0.01B |
| 2024-09-30 | $537M | 90 | +27.08% | +36.04% | -8.96% | -0.07B |
| 2024-06-30 | $533M | 86 | +2.60% | +24.49% | -21.89% | -0.04B |
| 2024-03-31 | $607M | 88 | +11.71% | +29.62% | -17.91% | -0.02B |
| 2023-12-31 | $590M | 88 | +12.57% | +26.18% | -13.61% | -0.02B |
| 2023-09-30 | $550M | 90 | +13.95% | +21.57% | -7.61% | -0.00B |
| 2023-06-30 | $593M | 93 | +12.12% | +19.42% | -7.31% | +0.08B |
| 2023-03-31 | $504M | 88 | -1.28% | -7.82% | +6.54% | -0.01B |
| 2022-12-31 | $481M | 84 | +12.69% | +7.56% | +5.13% | -0.03B |
| 2022-09-30 | $453M | 84 | -8.74% | -4.93% | -3.81% | -0.07B |
| 2022-06-30 | $578M | 94 | -9.68% | -16.11% | +6.43% | +0.01B |