Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-3.48%
trims when stocks drop
when a holding falls −10%+
Middle response
-0.39%
baseline attrition
Rally response
-1.84%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| MSMorgan Stanley | $133M | 6.6% | +44.8% | 10.3 yr |
| SPYState Street SPDR S&P 50 | $95M | 4.7% | +17.6% | 10.0 yr |
| METAMeta Platforms, Inc. | $60M | 3.0% | -0.4% | 10.5 yr |
| BRK-ABerkshire Hathaway Inc. | $55M | 2.7% | — | 10.5 yr |
| DACDanaos Corporation | $47M | 2.3% | +49.7% | 6.8 yr |
| APPAppLovin Corporation | $46M | 2.3% | +50.2% | 3.3 yr |
| BACBank of America Corporat | $37M | 1.8% | +19.4% | 10.5 yr |
| HCAHCA Healthcare, Inc. | $35M | 1.7% | +37.9% | 10.5 yr |
| GOOGAlphabet Inc. | $34M | 1.7% | +84.3% | 10.3 yr |
| MAMastercard Incorporated | $33M | 1.6% | -8.5% | 10.5 yr |
| AAPLApple Inc. | $30M | 1.5% | +14.7% | 7.0 yr |
| VVisa Inc. | $29M | 1.4% | -13.1% | 10.5 yr |
| MODModine Manufacturing Com | $22M | 1.1% | +182.4% | 4.3 yr |
| FICOFair Isaac Corporation | $21M | 1.1% | -42.1% | 10.5 yr |
| BLDRBuilders FirstSource, In | $21M | 1.0% | -34.1% | 5.3 yr |
Portfolio composition (YoY)
Industry mix
Asset Management9.7%+3.6pp$197M
Financial - Capital Markets9.0%+6.5pp$183M
Internet Content & Information5.9%+1.1pp$120M
Software - Application4.5%+0.2pp$92M
Financial - Credit Services4.4%-2.1pp$90M
Banks - Diversified4.2%-0.2pp$86M
Marine Shipping3.9%+0.5pp$80M
Medical - Care Facilities3.9%+0.3pp$79M
Insurance - Diversified3.1%-1.3pp$63M
Rental & Leasing Services2.2%-0.1pp$44M
Country
US88.7%+2.1pp
GR2.4%+0.3pp
Unknown2.0%+0.2pp
GB1.6%-0.1pp
BM1.2%-0.3pp
CH0.7%-0.0pp
IE0.7%+0.0pp
CN0.7%-0.6pp
Top 5: 19.2% · Top 10: 28.3% · Top 25: 43.5%
Top buys this quarter · 15
| ABNB Airbnb, Inc. | +$4M |
| AMZN Amazon.com, Inc. | +$3M |
| SUNB Sunbelt Rentals Holdings Incnew | +$2M |
| PRGO Perrigo Company plc | +$2M |
| JBI Janus International Group, Inc | +$2M |
| WSC WillScot Holdings Corporationnew | +$2M |
| BMBL Bumble Inc. | +$1M |
| URI United Rentals, Inc. | +$1M |
| RH Rh | +$1M |
| PDD PDD Holdings Inc. | +$1M |
Top sells this quarter · 15
| WMT Walmart Inc. | −$6M |
| CE Celanese Corporation | −$5M |
| CC The Chemours Company | −$3M |
| ARM Arm Holdings plc American Depoexit | −$3M |
| FCN FTI Consulting, Inc. | −$3M |
| NBR Nabors Industries Ltd. | −$3M |
| CI Cigna Corporationexit | −$3M |
| NWL Newell Brands Inc. | −$2M |
| ALLY Ally Financial Inc. | −$2M |
| KMX CarMax, Inc.exit | −$2M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $2.03B | 484 | +15.49% | +17.59% | -2.10% | -0.06B |
| 2025-12-31 | $2.19B | 544 | +14.70% | +17.72% | -3.02% | -0.02B |
| 2025-09-30 | $2.17B | 566 | +15.54% | +17.52% | -1.97% | -0.04B |
| 2025-06-30 | $2.02B | 587 | +16.45% | +14.94% | +1.51% | +0.30B |
| 2025-03-31 | $1.58B | 557 | +6.48% | +8.30% | -1.82% | -0.24B |
| 2024-12-31 | $1.92B | 536 | +22.52% | +24.89% | -2.36% | -0.07B |
| 2024-09-30 | $1.95B | 590 | +37.80% | +36.04% | +1.76% | +0.06B |
| 2024-06-30 | $1.71B | 562 | +22.40% | +24.49% | -2.09% | -0.05B |
| 2024-03-31 | $1.78B | 548 | +34.36% | +29.62% | +4.73% | +0.03B |
| 2023-12-31 | $1.60B | 535 | +31.08% | +26.18% | +4.90% | -0.14B |
| 2023-09-30 | $1.51B | 526 | +28.18% | +21.57% | +6.62% | -0.06B |
| 2023-06-30 | $1.60B | 523 | +25.34% | +19.42% | +5.92% | +0.11B |
| 2023-03-31 | $1.37B | 505 | -6.53% | -7.82% | +1.29% | -0.04B |
| 2022-12-31 | $1.32B | 522 | -16.48% | -18.17% | +1.69% | +0.01B |
| 2022-09-30 | $1.17B | 513 | -17.41% | -15.51% | -1.90% | -0.21B |
| 2022-06-30 | $1.43B | 522 | -13.50% | -10.62% | -2.88% | +0.17B |