Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+7.53%
adds when stocks drop
when a holding falls −10%+
Middle response
-3.39%
baseline attrition
Rally response
-22.70%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| TOTB.DETotalEnergies SE | $1.09B | 11.3% | +41.2% | 0.3 yr |
| CCitigroup Inc. | $906M | 9.4% | +63.9% | 10.3 yr |
| TAT&T Inc. | $900M | 9.3% | +5.9% | 6.5 yr |
| AVGOBroadcom Inc. | $645M | 6.7% | +86.0% | 7.5 yr |
| AZNAstraZeneca PLC | $556M | 5.8% | +36.2% | 0.3 yr |
| MRKMerck & Co., Inc. | $449M | 4.7% | +38.9% | 10.3 yr |
| CMECME Group Inc. | $338M | 3.5% | +15.6% | 10.3 yr |
| TRPTC Energy Corporation | $295M | 3.1% | +37.4% | 2.5 yr |
| TSMTaiwan Semiconductor Man | $237M | 2.5% | +105.6% | 10.3 yr |
| CSCOCisco Systems, Inc. | $226M | 2.3% | +28.1% | 5.8 yr |
| ENBEnbridge Inc. | $197M | 2.0% | +29.3% | 3.8 yr |
| EQHEquitable Holdings, Inc. | $185M | 1.9% | -27.1% | 6.0 yr |
| MDTMedtronic plc | $175M | 1.8% | -1.3% | 8.3 yr |
| HDThe Home Depot, Inc. | $171M | 1.8% | -8.0% | 10.3 yr |
| RFRegions Financial Corpor | $170M | 1.8% | +25.3% | 6.0 yr |
Portfolio composition (YoY)
Industry mix
Drug Manufacturers - General12.8%$1.24B
Oil & Gas Integrated11.5%$1.11B
Semiconductors10.1%$972M
Banks - Diversified10.1%$968M
Telecommunications Services9.4%$901M
Oil & Gas Midstream5.2%$503M
Unknown4.5%$431M
Financial - Data & Stock Exchanges3.5%$341M
Communication Equipment2.4%$231M
Internet Content & Information2.0%$197M
Country
US60.5%-39.5pp
FR11.4%
GB7.6%
CA5.6%
Unknown4.5%
TW2.5%
IE2.0%
CN1.7%
Top 5: 42.5% · Top 10: 58.6% · Top 25: 80.6%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Top buys this quarter · 15
| TOTB.DE TotalEnergies SEnew | +$942M |
| AZN AstraZeneca PLCnew | +$564M |
| T AT&T Inc. | +$57M |
| TRP TC Energy Corporation | +$43M |
| ABBV AbbVie Inc. | +$22M |
| TSM Taiwan Semiconductor Manufactu | +$19M |
| ADBE Adobe Inc. | +$18M |
| SAP SAP SE | +$14M |
| LLY Eli Lilly and Company | +$14M |
| CIGI Colliers International Group I | +$12M |
Top sells this quarter · 15
| SPGI S&P Global Inc. | −$23M |
| TDG TransDigm Group Incorporated | −$21M |
| CVSA Covista Inc.exit | −$14M |
| STKL SunOpta Inc.exit | −$13M |
| PNFP Pinnacle Financial Partners, Iexit | −$12M |
| CASY Casey's General Stores, Inc.exit | −$10M |
| TCOM Trip.com Group Limitedexit | −$9M |
| COHR Coherent, Inc. | −$8M |
| TTAN ServiceTitan, Inc.exit | −$8M |
| COF Capital One Financial Corporat | −$8M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $9.63B | 169 | +25.46% | +17.59% | +7.86% | +1.51B |
| 2025-12-31 | $7.92B | 174 | +22.09% | +17.72% | +4.38% | +0.12B |
| 2025-09-30 | $7.66B | 174 | +23.90% | +17.52% | +6.39% | -0.66B |
| 2025-06-30 | $7.77B | 175 | +23.73% | +14.94% | +8.79% | +7.66B |
| 2025-03-31 | $96M | 1 | +11.01% | +8.30% | +2.71% | -7.45B |
| 2024-12-31 | $7.56B | 187 | +24.72% | +24.89% | -0.17% | -0.37B |
| 2024-09-30 | $7.68B | 191 | +34.71% | +36.04% | -1.32% | +0.08B |
| 2024-06-30 | $7.11B | 189 | +24.77% | +24.49% | +0.28% | -0.10B |
| 2024-03-31 | $7.17B | 187 | +28.21% | +29.62% | -1.41% | -0.60B |
| 2023-12-31 | $6.93B | 196 | +19.10% | +26.18% | -7.07% | +0.14B |
| 2023-09-30 | $6.08B | 196 | +18.77% | +21.57% | -2.80% | -0.03B |
| 2023-06-30 | $6.17B | 184 | +11.71% | +19.42% | -7.71% | -0.08B |
| 2023-03-31 | $6.05B | 185 | -7.05% | -7.82% | +0.77% | -0.11B |
| 2022-12-31 | $5.91B | 201 | +11.32% | +7.56% | +3.76% | -0.36B |
| 2022-09-30 | $5.63B | 199 | -6.80% | -4.93% | -1.87% | -0.44B |
| 2022-06-30 | $6.51B | 199 | -14.00% | -16.11% | +2.11% | -0.04B |