Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-0.09%
trims when stocks drop
when a holding falls −10%+
Middle response
+1.13%
steady accumulation
Rally response
-1.07%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| IWFiShares Russell 1000 Gro | $175M | 7.4% | — | 10.3 yr |
| GOOGAlphabet Inc. | $168M | 7.1% | +84.3% | 7.5 yr |
| MSFTMicrosoft Corporation | $149M | 6.3% | -0.6% | 10.5 yr |
| JPMJPMorgan Chase & Co. | $123M | 5.2% | +21.8% | 10.5 yr |
| BRK-BBerkshire Hathaway Inc. | $96M | 4.1% | — | 10.5 yr |
| QCOMQUALCOMM Incorporated | $93M | 3.9% | -14.2% | 10.5 yr |
| CVXChevron Corporation | $81M | 3.4% | +29.2% | 10.5 yr |
| FDXFedEx Corporation | $78M | 3.3% | +49.3% | 10.5 yr |
| IFFInternational Flavors & | $77M | 3.2% | -4.3% | 3.0 yr |
| AMZNAmazon.com, Inc. | $72M | 3.0% | +9.5% | 10.5 yr |
| JNJJohnson & Johnson | $67M | 2.8% | +51.5% | 10.5 yr |
| BAThe Boeing Company | $67M | 2.8% | +16.7% | 6.3 yr |
| APDAir Products and Chemica | $63M | 2.7% | +0.5% | 2.3 yr |
| — | $62M | 2.6% | — | 8.8 yr |
| SJMThe J. M. Smucker Compan | $61M | 2.6% | -15.3% | 2.8 yr |
Portfolio composition (YoY)
Industry mix
Asset Management18.6%+1.9pp$439M
Internet Content & Information7.2%+2.6pp$170M
Banks - Diversified6.9%+0.8pp$162M
Software - Infrastructure6.4%-1.8pp$152M
Unknown6.3%-2.5pp$149M
Chemicals - Specialty5.9%+1.4pp$140M
Semiconductors5.6%-1.0pp$132M
Drug Manufacturers - General5.3%+0.6pp$126M
Insurance - Diversified4.1%-0.6pp$96M
Specialty Retail3.8%-0.3pp$89M
Country
US93.1%+2.2pp
Unknown6.3%-2.5pp
CA0.5%+0.2pp
NL0.0%
GB0.0%
Top 5: 30.1% · Top 10: 47.0% · Top 25: 77.9%
Top buys this quarter · 15
| HSIC Henry Schein, Inc. | +$33M |
| APD Air Products and Chemicals, In | +$21M |
| LW Lamb Weston Holdings, Inc. | +$17M |
| SJM The J. M. Smucker Company | +$9M |
| DIS The Walt Disney Company | +$6M |
| MSFT Microsoft Corporation | +$149M |
| IFF International Flavors & Fragra | +$6M |
| AMZN Amazon.com, Inc. | +$72M |
| BA The Boeing Company | +$67M |
| SPG Simon Property Group, Inc. | +$2M |
Top sells this quarter · 15
| DD DuPont de Nemours, Inc.exit | −$30M |
| NVDA NVIDIA Corporation | −$29M |
| OKTA Okta, Inc. | −$18M |
| MRCY Mercury Systems, Inc.exit | −$12M |
| Q Qnity Electronics, Inc. | −$31M |
| LQDT Liquidity Services, Inc. | −$6M |
| FDX FedEx Corporation | −$65M |
| TSLA Tesla, Inc. | −$2M |
| GOOG Alphabet Inc. | −$2M |
| CVX Chevron Corporation | −$61M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $2.36B | 183 | +22.18% | +17.59% | +4.59% | -0.02B |
| 2025-12-31 | $2.43B | 192 | +21.64% | +17.72% | +3.93% | -0.14B |
| 2025-09-30 | $2.43B | 197 | +19.12% | +17.52% | +1.60% | -0.13B |
| 2025-06-30 | $2.35B | 191 | +9.06% | +14.94% | -5.88% | -0.05B |
| 2025-03-31 | $2.21B | 189 | +2.39% | +8.30% | -5.92% | +0.01B |
| 2024-12-31 | $2.25B | 178 | +12.29% | +24.89% | -12.60% | -0.05B |
| 2024-09-30 | $2.24B | 183 | +18.79% | +36.04% | -17.25% | +0.07B |
| 2024-06-30 | $2.17B | 183 | +16.42% | +24.49% | -8.08% | -0.01B |
| 2024-03-31 | $2.14B | 184 | +17.47% | +29.62% | -12.16% | -0.01B |
| 2023-12-31 | $2.01B | 180 | +14.63% | +26.18% | -11.55% | +0.03B |
| 2023-09-30 | $1.82B | 176 | +11.95% | +21.57% | -9.62% | -0.00B |
| 2023-06-30 | $1.86B | 181 | +0.95% | +19.42% | -18.48% | +0.02B |
| 2023-03-31 | $1.79B | 177 | -15.99% | -7.82% | -8.17% | +0.04B |
| 2022-12-31 | $1.67B | 167 | -23.38% | -18.17% | -5.20% | +0.01B |
| 2022-09-30 | $1.57B | 171 | -20.05% | -15.51% | -4.54% | +0.08B |
| 2022-06-30 | $1.69B | 169 | -8.80% | -10.62% | +1.82% | -0.00B |