Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+0.11%
adds when stocks drop
when a holding falls −10%+
Middle response
+1.94%
steady accumulation
Rally response
-1.40%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| — | $124M | 2.6% | — | 5.0 yr |
| LRCXLam Research Corporation | $114M | 2.4% | +196.1% | 1.8 yr |
| MSFTMicrosoft Corporation | $104M | 2.2% | -0.6% | 10.3 yr |
| JPMJPMorgan Chase & Co. | $97M | 2.1% | +21.8% | 10.3 yr |
| DEDeere & Company | $86M | 1.8% | +21.2% | 10.3 yr |
| ETREntergy Corporation | $79M | 1.7% | +35.0% | 7.0 yr |
| JNJJohnson & Johnson | $76M | 1.6% | +51.5% | 10.3 yr |
| — | $72M | 1.5% | — | 10.3 yr |
| — | $70M | 1.5% | — | 7.8 yr |
| CSCOCisco Systems, Inc. | $70M | 1.5% | +28.1% | 10.3 yr |
| COPConocoPhillips | $69M | 1.5% | +30.0% | 10.3 yr |
| WMBThe Williams Companies, | $69M | 1.5% | +25.8% | 10.3 yr |
| AXPAmerican Express Company | $69M | 1.5% | +13.3% | 10.3 yr |
| GSThe Goldman Sachs Group, | $68M | 1.4% | +58.1% | 2.0 yr |
| — | $67M | 1.4% | — | 7.5 yr |
Portfolio composition (YoY)
Industry mix
Unknown28.8%+2.7pp$1.36B
Regulated Electric8.0%-2.3pp$380M
Banks - Diversified4.1%+0.5pp$195M
Semiconductors3.0%+1.3pp$140M
Software - Infrastructure2.9%-1.4pp$138M
Drug Manufacturers - General2.9%+0.4pp$137M
Agricultural - Machinery2.8%+0.4pp$132M
Oil & Gas Exploration & Production2.4%+0.2pp$115M
Medical - Healthcare Plans2.4%-1.0pp$113M
Communication Equipment2.2%+0.8pp$102M
Country
US70.4%-2.2pp
Unknown28.8%+2.7pp
DE0.7%
GB0.1%+0.0pp
CH0.0%-0.0pp
Top 5: 11.1% · Top 10: 18.9% · Top 25: 39.0%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| LRCX | $45M | +0.09B | 196.1% |
| GS | $48M | +0.03B | 58.1% |
| JNJ | $52M | +0.03B | 51.5% |
| ETR | $65M | +0.02B | 35.0% |
| JPM | $86M | +0.02B | 21.8% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| MSFT | $113M | -0.00B | -0.6% |
Top buys this quarter · 15
| MSI Motorola Solutions, Inc.new | +$32M |
| ADP Automatic Data Processing, Inc | +$30M |
| CNP CenterPoint Energy, Inc. | +$12M |
| PGR The Progressive Corporation | +$6M |
| CRM Salesforce, Inc. | +$32M |
| CI Cigna Corporation | +$2M |
| KMB Kimberly-Clark Corporation | +$2M |
| UNH UnitedHealth Group Incorporate | +$42M |
| UPS United Parcel Service, Inc. | +$1M |
| GILD Gilead Sciences, Inc. | +$1M |
Top sells this quarter · 15
| ETN Eaton Corporation plcexit | −$63M |
| ORCL Oracle Corporation | −$29M |
| BAH Booz Allen Hamilton Holding Co | −$27M |
| LRCX Lam Research Corporation | −$99M |
| D Dominion Energy, Inc. | −$9M |
| CAT Caterpillar Inc. | −$41M |
| JNJ Johnson & Johnson | −$65M |
| ETR Entergy Corporation | −$66M |
| AXP American Express Company | −$1M |
| LMT Lockheed Martin Corporation | −$45M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $4.73B | 234 | +13.13% | +17.59% | -4.47% | -0.03B |
| 2025-12-31 | $4.60B | 225 | +12.73% | +17.72% | -4.99% | +0.01B |
| 2025-09-30 | $4.64B | 227 | +10.48% | +17.52% | -7.04% | -0.08B |
| 2025-06-30 | $4.47B | 230 | +15.98% | +14.94% | +1.04% | -0.01B |
| 2025-03-31 | $4.27B | 214 | +8.75% | +8.30% | +0.45% | -0.09B |
| 2024-12-31 | $4.23B | 212 | +14.48% | +24.89% | -10.41% | +0.01B |
| 2024-09-30 | $4.35B | 216 | +29.17% | +36.04% | -6.87% | -0.02B |
| 2024-06-30 | $3.95B | 209 | +12.33% | +24.49% | -12.16% | -0.00B |
| 2024-03-31 | $4.02B | 219 | +17.99% | +29.62% | -11.63% | +0.05B |
| 2023-12-31 | $3.65B | 203 | +6.42% | +26.18% | -19.76% | +0.04B |
| 2023-09-30 | $3.30B | 199 | +10.83% | +21.57% | -10.73% | +0.01B |
| 2023-06-30 | $3.42B | 201 | +10.26% | +19.42% | -9.16% | +0.01B |
| 2023-03-31 | $3.30B | 198 | -3.29% | -7.82% | +4.53% | +0.01B |
| 2022-12-31 | $3.36B | 198 | +13.90% | +7.56% | +6.34% | -0.04B |
| 2022-09-30 | $2.99B | 190 | -4.37% | -4.93% | +0.56% | -0.01B |
| 2022-06-30 | $3.13B | 186 | -9.35% | -16.11% | +6.76% | +0.06B |