Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-0.47%
trims when stocks drop
when a holding falls −10%+
Middle response
-1.09%
baseline attrition
Rally response
-0.05%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| BRK-BBerkshire Hathaway Inc. | $57M | 7.5% | — | 10.3 yr |
| AAPLApple Inc. | $45M | 6.0% | +14.7% | 10.3 yr |
| JNJJohnson & Johnson | $41M | 5.3% | +51.5% | 10.5 yr |
| JPMJPMorgan Chase & Co. | $32M | 4.2% | +21.8% | 10.5 yr |
| MSFTMicrosoft Corporation | $31M | 4.1% | -0.6% | 10.5 yr |
| CATCaterpillar Inc. | $28M | 3.7% | +117.8% | 10.5 yr |
| GSThe Goldman Sachs Group, | $22M | 2.9% | +58.1% | 10.5 yr |
| GOOGAlphabet Inc. | $19M | 2.5% | +84.3% | 10.3 yr |
| CMICummins Inc. | $18M | 2.4% | +74.8% | 10.5 yr |
| ABBVAbbVie Inc. | $17M | 2.3% | +7.3% | 10.5 yr |
| MCKMcKesson Corporation | $17M | 2.3% | +29.1% | 10.5 yr |
| IWRiShares Russell Mid-Cap | $16M | 2.1% | — | 10.5 yr |
| XOMExxon Mobil Corporation | $16M | 2.1% | +47.6% | 10.5 yr |
| CVXChevron Corporation | $14M | 1.9% | +29.2% | 10.5 yr |
| DEDeere & Company | $14M | 1.8% | +21.2% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management18.8%+0.4pp$143M
Drug Manufacturers - General8.2%+3.5pp$63M
Insurance - Diversified7.5%-2.0pp$57M
Banks - Diversified7.3%+0.0pp$56M
Consumer Electronics6.0%-0.7pp$45M
Software - Infrastructure5.9%-1.1pp$45M
Agricultural - Machinery5.5%+1.4pp$42M
Internet Content & Information4.0%+1.3pp$30M
Oil & Gas Integrated4.0%+0.9pp$30M
Financial - Capital Markets3.5%+0.6pp$27M
Country
US98.7%-0.3pp
CA1.1%+0.3pp
IE0.2%+0.0pp
Unknown0.1%-0.0pp
Top 5: 27.1% · Top 10: 41.0% · Top 25: 64.9%
Top buys this quarter · 15
| JNJ Johnson & Johnson | +$23M |
| WMT Walmart Inc. | +$4M |
| TJX The TJX Companies, Inc.new | +$4M |
| XOM Exxon Mobil Corporation | +$3M |
| ORCL Oracle Corporation | +$14M |
| ABBV AbbVie Inc. | +$3M |
| STT State Street Corporation | +$2M |
| AMZN Amazon.com, Inc. | +$2M |
| MKL Markel Corporation | +$2M |
| AMGN Amgen Inc. | +$2M |
Top sells this quarter · 15
| GLW Corning Incorporated | −$8M |
| CB Chubb Limitedexit | −$3M |
| BLK BlackRock, Inc.exit | −$2M |
| DIS The Walt Disney Companyexit | −$2M |
| MDLZ Mondelez International, Inc. | −$1M |
| JPM JPMorgan Chase & Co. | −$1M |
| CAT Caterpillar Inc. | −$23M |
| BUD Anheuser-Busch InBev SA/NVexit | −$1M |
| UNH UnitedHealth Group Incorporateexit | −$1M |
| MCK McKesson Corporation | −$17M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $763M | 130 | +21.62% | +17.59% | +4.03% | +0.04B |
| 2025-12-31 | $721M | 127 | +21.17% | +17.72% | +3.45% | -0.00B |
| 2025-09-30 | $699M | 126 | +19.24% | +17.52% | +1.73% | -0.01B |
| 2025-06-30 | $643M | 125 | +16.39% | +14.94% | +1.45% | -0.02B |
| 2025-03-31 | $618M | 122 | +11.26% | +8.30% | +2.96% | -0.00B |
| 2024-12-31 | $621M | 124 | +20.04% | +24.89% | -4.85% | -0.00B |
| 2024-09-30 | $613M | 124 | +28.26% | +36.04% | -7.78% | +0.01B |
| 2024-06-30 | $565M | 119 | +15.16% | +24.49% | -9.33% | -0.02B |
| 2024-03-31 | $572M | 120 | +20.21% | +29.62% | -9.41% | +0.00B |
| 2023-12-31 | $531M | 117 | +15.82% | +26.18% | -10.35% | -0.00B |
| 2023-09-30 | $492M | 113 | +19.29% | +21.57% | -2.28% | -0.00B |
| 2023-06-30 | $511M | 113 | +17.80% | +19.42% | -1.62% | -0.00B |
| 2023-03-31 | $483M | 115 | -1.85% | -7.82% | +5.97% | -0.00B |
| 2022-12-31 | $468M | 116 | -9.54% | -18.17% | +8.63% | -0.01B |
| 2022-09-30 | $424M | 115 | -10.44% | -15.51% | +5.07% | -0.01B |
| 2022-06-30 | $455M | 112 | -5.48% | -10.62% | +5.14% | -0.01B |