Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-6.15%
trims when stocks drop
when a holding falls −10%+
Middle response
-2.87%
baseline attrition
Rally response
+2.18%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| LNGCheniere Energy, Inc. | $153M | 8.3% | +23.8% | 10.5 yr |
| GOOGAlphabet Inc. | $147M | 8.0% | +84.3% | 9.0 yr |
| LPLALPL Financial Holdings I | $118M | 6.4% | -7.7% | 10.5 yr |
| TKOTKO Group Holdings, Inc. | $89M | 4.8% | +33.8% | 2.3 yr |
| BRK-BBerkshire Hathaway Inc. | $72M | 3.9% | — | 10.3 yr |
| WMTWalmart Inc. | $69M | 3.8% | +42.8% | 10.5 yr |
| BXBlackstone Inc. | $64M | 3.5% | -14.9% | 6.8 yr |
| AMZNAmazon.com, Inc. | $62M | 3.4% | +9.5% | 6.3 yr |
| LHLabcorp Holdings Inc. | $61M | 3.3% | +15.9% | 2.0 yr |
| MSFTMicrosoft Corporation | $59M | 3.2% | -0.6% | 10.5 yr |
| WMGWarner Music Group Corp. | $41M | 2.2% | -16.4% | 5.8 yr |
| JNJJohnson & Johnson | $39M | 2.1% | +51.5% | 10.5 yr |
| JPSTJPMorgan Ultra-Short Inc | $36M | 2.0% | — | 8.0 yr |
| VEAVanguard FTSE Developed | $35M | 1.9% | — | 10.5 yr |
| AMTAmerican Tower Corporati | $35M | 1.9% | -17.9% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management16.1%+1.7pp$297M
Oil & Gas Midstream9.4%-0.5pp$173M
Internet Content & Information8.3%+3.4pp$152M
Entertainment7.0%-0.3pp$130M
Financial - Capital Markets6.4%-1.8pp$118M
Asset Management - Bonds4.5%-0.2pp$82M
Software - Infrastructure4.2%+0.9pp$77M
Insurance - Diversified3.9%-1.1pp$73M
Discount Stores3.8%+0.9pp$70M
Specialty Retail3.7%+0.4pp$68M
Country
US96.1%+0.4pp
Unknown1.7%-2.0pp
IE1.4%
BE0.5%-0.1pp
CH0.2%
DK0.0%-0.0pp
CA0.0%
Top 5: 31.4% · Top 10: 48.5% · Top 25: 73.8%
Top buys this quarter · 15
| JPM JPMorgan Chase & Co. | +$21M |
| XYL Xylem Inc.new | +$10M |
| AAPL Apple Inc. | +$8M |
| CARR Carrier Global Corporationnew | +$8M |
| DUK Duke Energy Corporationnew | +$6M |
| WM Waste Management, Inc. | +$5M |
| CB Chubb Limitednew | +$4M |
| WMB The Williams Companies, Inc. | +$3M |
| MAA Mid-America Apartment Communitnew | +$2M |
| LINE Lineage, Inc. | +$27M |
Top sells this quarter · 15
| VRRM Verra Mobility Corporation | −$12M |
| ADBE Adobe Inc. | −$10M |
| LPLA LPL Financial Holdings Inc. | −$7M |
| LNG Cheniere Energy, Inc. | −$107M |
| GOOG Alphabet Inc. | −$4M |
| TKO TKO Group Holdings, Inc. | −$3M |
| EBAY eBay Inc. | −$3M |
| EXPE Expedia Group, Inc. | −$2M |
| CCI Crown Castle Inc. | −$2M |
| WMG Warner Music Group Corp. | −$2M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.84B | 189 | +3.89% | +17.59% | -13.70% | +0.01B |
| 2025-12-31 | $1.95B | 173 | +6.86% | +17.72% | -10.86% | -0.04B |
| 2025-09-30 | $1.97B | 175 | +12.22% | +17.52% | -5.30% | -0.01B |
| 2025-06-30 | $1.93B | 165 | +14.16% | +14.94% | -0.78% | -0.08B |
| 2025-03-31 | $1.89B | 158 | +10.93% | +8.30% | +2.62% | +0.02B |
| 2024-12-31 | $1.93B | 161 | +17.52% | +24.89% | -7.36% | -0.03B |
| 2024-09-30 | $1.85B | 152 | +21.18% | +36.04% | -14.85% | -0.01B |
| 2024-06-30 | $1.78B | 146 | +17.80% | +24.49% | -6.70% | -0.06B |
| 2024-03-31 | $1.77B | 151 | +19.71% | +29.62% | -9.91% | +0.05B |
| 2023-12-31 | $1.68B | 144 | +21.14% | +26.18% | -5.03% | -0.03B |
| 2023-09-30 | $1.56B | 141 | +14.23% | +21.57% | -7.34% | -0.04B |
| 2023-06-30 | $1.58B | 138 | +11.67% | +19.42% | -7.76% | -0.03B |
| 2023-03-31 | $1.53B | 139 | -6.13% | -7.82% | +1.69% | +0.01B |
| 2022-12-31 | $1.46B | 136 | -13.87% | -18.17% | +4.30% | +0.02B |
| 2022-09-30 | $1.40B | 128 | -7.14% | -15.51% | +8.37% | -0.03B |
| 2022-06-30 | $1.44B | 136 | -5.86% | -10.62% | +4.76% | +0.02B |