Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+1.76%
adds when stocks drop
when a holding falls −10%+
Middle response
-5.35%
baseline attrition
Rally response
-10.91%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| AIGAmerican International G | $645M | 4.0% | -11.5% | 8.5 yr |
| BRK-BBerkshire Hathaway Inc. | $610M | 3.8% | — | 10.3 yr |
| ABTAbbott Laboratories | $552M | 3.5% | -21.1% | 10.3 yr |
| AONAon plc | $480M | 3.0% | -18.4% | 1.8 yr |
| CLColgate-Palmolive Compan | $461M | 2.9% | -6.8% | 1.5 yr |
| FANGDiamondback Energy, Inc. | $397M | 2.5% | +27.1% | 2.8 yr |
| TXNTexas Instruments Incorp | $397M | 2.5% | +11.4% | 8.0 yr |
| COPConocoPhillips | $385M | 2.4% | +30.0% | 4.3 yr |
| MSFTMicrosoft Corporation | $379M | 2.4% | -0.6% | 10.3 yr |
| COFCapital One Financial Co | $368M | 2.3% | +3.1% | 4.3 yr |
| WMWaste Management, Inc. | $363M | 2.3% | +0.8% | 4.3 yr |
| ZTSZoetis Inc. | $346M | 2.2% | -27.2% | 0.8 yr |
| CRMSalesforce, Inc. | $336M | 2.1% | -30.2% | 1.3 yr |
| SBACSBA Communications Corpo | $333M | 2.1% | -20.0% | 5.3 yr |
| DISThe Walt Disney Company | $307M | 1.9% | -1.3% | 10.3 yr |
Portfolio composition (YoY)
Industry mix
Insurance - Diversified9.6%+0.8pp$1.53B
Oil & Gas Exploration & Production6.7%+1.1pp$1.07B
Medical - Devices4.7%-0.8pp$750M
Software - Application4.6%+0.7pp$735M
Software - Infrastructure4.3%+3.4pp$691M
Household & Personal Products4.3%+1.9pp$688M
Industrial - Machinery4.3%+1.9pp$686M
Financial - Credit Services3.5%+0.6pp$554M
Insurance - Brokers3.4%+1.0pp$536M
Drug Manufacturers - General3.3%+1.1pp$521M
Country
US90.4%-0.0pp
IE5.9%+0.7pp
GB1.4%-0.4pp
IL1.1%+1.0pp
TW0.6%+0.4pp
Unknown0.2%-0.3pp
BM0.1%-0.1pp
CA0.1%-1.3pp
Top 5: 17.2% · Top 10: 29.2% · Top 25: 55.3%
Top buys this quarter · 15
| MSFT Microsoft Corporation | +$303M |
| KMB Kimberly-Clark Corporation | +$115M |
| EQH Equitable Holdings, Inc. | +$108M |
| EQT EQT Corporation | +$50M |
| CRM Salesforce, Inc. | +$336M |
| WIX Wix.com Ltd. | +$45M |
| AR Antero Resources Corporation | +$44M |
| WAY Waystar Holding Corp.new | +$39M |
| HUM Humana Inc. | +$35M |
| LPLA LPL Financial Holdings Inc. | +$31M |
Top sells this quarter · 15
| TXN Texas Instruments Incorporated | −$229M |
| RRX Regal Rexnord Corporation | −$200M |
| IP International Paper Companyexit | −$195M |
| WM Waste Management, Inc. | −$171M |
| AIG American International Group, | −$169M |
| COP ConocoPhillips | −$163M |
| SYY Sysco Corporation | −$156M |
| CL Colgate-Palmolive Company | −$156M |
| DE Deere & Company | −$142M |
| LH Labcorp Holdings Inc. | −$132M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $15.99B | 187 | +3.14% | +17.59% | -14.46% | -2.93B |
| 2025-12-31 | $19.52B | 190 | +6.20% | +17.72% | -11.52% | -1.90B |
| 2025-09-30 | $21.06B | 186 | +2.13% | +17.52% | -15.39% | -0.87B |
| 2025-06-30 | $21.76B | 180 | +10.06% | +14.94% | -4.88% | -0.89B |
| 2025-03-31 | $21.82B | 174 | +1.32% | +8.30% | -6.98% | -0.79B |
| 2024-12-31 | $22.65B | 177 | +12.94% | +24.89% | -11.94% | -1.53B |
| 2024-09-30 | $24.72B | 176 | +30.40% | +36.04% | -5.64% | -0.68B |
| 2024-06-30 | $23.38B | 171 | +14.95% | +24.49% | -9.54% | -0.03B |
| 2024-03-31 | $24.50B | 163 | +27.14% | +29.62% | -2.49% | -0.82B |
| 2023-12-31 | $22.76B | 164 | +16.66% | +26.18% | -9.52% | -0.58B |
| 2023-09-30 | $20.67B | 166 | +15.16% | +21.57% | -6.40% | -0.62B |
| 2023-06-30 | $22.23B | 165 | +14.36% | +19.42% | -5.06% | -0.34B |
| 2023-03-31 | $21.36B | 166 | -7.92% | -7.82% | -0.10% | -1.11B |
| 2022-12-31 | $22.01B | 169 | +11.46% | +7.56% | +3.90% | -1.23B |
| 2022-09-30 | $20.85B | 170 | -4.90% | -4.93% | +0.03% | -0.92B |
| 2022-06-30 | $22.89B | 169 | -14.91% | -16.11% | +1.20% | +0.00B |