Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-7.90%
trims when stocks drop
when a holding falls −10%+
Middle response
-3.75%
baseline attrition
Rally response
-2.46%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| SPDNDirexion Daily S&P 500 B | $31M | 3.3% | — | 6.0 yr |
| GOOGLAlphabet Inc. | $19M | 2.0% | — | 8.0 yr |
| BWXSPDR Bloomberg Internati | $18M | 1.9% | — | 10.3 yr |
| MSFTMicrosoft Corporation | $18M | 1.9% | -0.6% | 7.3 yr |
| JBLJabil Inc. | $16M | 1.7% | +95.5% | 5.5 yr |
| GSThe Goldman Sachs Group, | $15M | 1.7% | +58.1% | 7.3 yr |
| SPIBState Street SPDR Portfo | $14M | 1.5% | — | 2.3 yr |
| RWMProShares - Short Russel | $14M | 1.5% | — | 9.0 yr |
| MCKMcKesson Corporation | $14M | 1.5% | +29.1% | 6.5 yr |
| KGCKinross Gold Corporation | $14M | 1.5% | +143.6% | 2.3 yr |
| FDXFedEx Corporation | $14M | 1.5% | +49.3% | 3.0 yr |
| CAHCardinal Health, Inc. | $14M | 1.4% | +54.9% | 4.5 yr |
| FLEXFlex Ltd. | $13M | 1.4% | +97.9% | 5.3 yr |
| SHYiShares 1-3 Year Treasur | $13M | 1.4% | — | 7.5 yr |
| CSCOCisco Systems, Inc. | $12M | 1.3% | +28.1% | 6.0 yr |
Portfolio composition (YoY)
Industry mix
Asset Management13.2%-3.5pp$124M
Asset Management - Leveraged6.4%-0.3pp$60M
Hardware, Equipment & Parts5.7%+3.0pp$53M
Drug Manufacturers - General5.6%+5.1pp$52M
Asset Management - Bonds5.4%-0.4pp$51M
Banks - Diversified5.3%+1.3pp$50M
Gold4.4%+1.2pp$41M
Integrated Freight & Logistics4.3%$40M
Medical - Distribution4.0%+0.4pp$37M
Oil & Gas Equipment & Services3.9%$36M
Country
US82.2%-5.5pp
CA7.0%+2.7pp
GB2.1%+1.4pp
SE1.6%+1.2pp
IE1.4%+0.4pp
SG1.4%+0.5pp
Unknown0.9%+0.2pp
DE0.8%+0.0pp
Top 5: 10.8% · Top 10: 18.4% · Top 25: 36.5%
Top buys this quarter · 15
| NVDA NVIDIA Corporationnew | +$8M |
| BKR Baker Hughes Company | +$6M |
| DELL Dell Technologies Inc. | +$5M |
| LRCX Lam Research Corporationnew | +$4M |
| DAL Delta Air Lines, Inc. | +$4M |
| BR Broadridge Financial Solutionsnew | +$4M |
| NOV NOV Inc. | +$3M |
| WFRD Weatherford International plc | +$3M |
| AMD Advanced Micro Devices, Inc.new | +$2M |
| AVGO Broadcom Inc.new | +$1M |
Top sells this quarter · 15
| SHEL Shell plc | −$9M |
| SNX TD SYNNEX Corporation | −$8M |
| MU Micron Technology, Inc. | −$8M |
| IBM International Business Machine | −$8M |
| UNH UnitedHealth Group Incorporateexit | −$8M |
| CRUS Cirrus Logic, Inc. | −$6M |
| UBER Uber Technologies, Inc.exit | −$5M |
| CSGS CSG Systems International, Incexit | −$4M |
| GT The Goodyear Tire & Rubber Comexit | −$4M |
| RJF Raymond James Financial, Inc. | −$4M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $939M | 211 | +31.04% | +17.59% | +13.45% | -0.01B |
| 2025-12-31 | $926M | 207 | +28.09% | +17.72% | +10.37% | -0.01B |
| 2025-09-30 | $914M | 205 | +23.67% | +17.52% | +6.16% | -0.00B |
| 2025-06-30 | $837M | 206 | +25.20% | +14.94% | +10.26% | -0.04B |
| 2025-03-31 | $770M | 201 | +9.60% | +8.30% | +1.30% | -0.06B |
| 2024-12-31 | $833M | 191 | +22.03% | +24.89% | -2.86% | -0.06B |
| 2024-09-30 | $900M | 172 | +37.47% | +36.04% | +1.44% | -0.06B |
| 2024-06-30 | $865M | 180 | +20.64% | +24.49% | -3.85% | -0.02B |
| 2024-03-31 | $888M | 178 | +30.49% | +29.62% | +0.87% | -0.00B |
| 2023-12-31 | $799M | 174 | +22.63% | +26.18% | -3.55% | +0.00B |
| 2023-09-30 | $713M | 182 | +24.12% | +21.57% | +2.55% | -0.04B |
| 2023-06-30 | $772M | 199 | +21.83% | +19.42% | +2.41% | -0.04B |
| 2023-03-31 | $757M | 191 | -1.44% | -7.82% | +6.38% | -0.02B |
| 2022-12-31 | $742M | 191 | +12.97% | +7.56% | +5.40% | +0.00B |
| 2022-09-30 | $656M | 180 | -4.35% | -4.93% | +0.58% | -0.02B |
| 2022-06-30 | $704M | 183 | -13.03% | -16.11% | +3.08% | +0.03B |