Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+2.16%
adds when stocks drop
when a holding falls −10%+
Middle response
+2.90%
steady accumulation
Rally response
-6.79%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| AAPLApple Inc. | $576M | 3.5% | +14.7% | 10.0 yr |
| BRK-BBerkshire Hathaway Inc. | $519M | 3.2% | — | 10.5 yr |
| GLWCorning Incorporated | $516M | 3.2% | +201.5% | 10.5 yr |
| NSCNorfolk Southern Corpora | $488M | 3.0% | +23.6% | 10.5 yr |
| DDominion Energy, Inc. | $429M | 2.6% | +15.4% | 10.5 yr |
| JNJJohnson & Johnson | $392M | 2.4% | +51.5% | 10.5 yr |
| CVXChevron Corporation | $391M | 2.4% | +29.2% | 10.5 yr |
| APDAir Products and Chemica | $382M | 2.4% | +0.5% | 6.5 yr |
| BLKBlackRock, Inc. | $380M | 2.3% | +3.7% | 1.5 yr |
| AERAerCap Holdings N.V. | $349M | 2.2% | +35.6% | 4.8 yr |
| ENTGEntegris, Inc. | $347M | 2.1% | +34.6% | 7.8 yr |
| TXNTexas Instruments Incorp | $339M | 2.1% | +11.4% | 7.5 yr |
| SCHWThe Charles Schwab Corpo | $335M | 2.1% | +21.5% | 7.3 yr |
| PMPhilip Morris Internatio | $334M | 2.1% | +7.9% | 10.5 yr |
| PGRThe Progressive Corporat | $316M | 1.9% | -25.5% | 10.3 yr |
Portfolio composition (YoY)
Industry mix
Hardware, Equipment & Parts6.9%+2.3pp$1.12B
Insurance - Property & Casualty6.5%-0.0pp$1.05B
Chemicals - Specialty4.6%-0.5pp$742M
Semiconductors4.4%-0.3pp$718M
Consumer Electronics3.6%+0.3pp$577M
Tobacco3.5%-0.3pp$571M
Insurance - Diversified3.2%-0.5pp$526M
Financial - Capital Markets3.1%-0.1pp$502M
Railroads3.0%+0.9pp$492M
Restaurants3.0%+1.2pp$480M
Country
US91.5%-2.1pp
IE5.0%+0.5pp
CH1.5%+1.1pp
CA0.9%
BM0.8%+0.0pp
Unknown0.1%
TW0.0%+0.0pp
GB0.0%-0.6pp
Top 5: 15.6% · Top 10: 27.3% · Top 25: 54.5%
Top buys this quarter · 15
| QSR Restaurant Brands Internationanew | +$148M |
| D Dominion Energy, Inc. | +$134M |
| DPZ Domino's Pizza, Inc.new | +$129M |
| HWKN Hawkins, Inc.new | +$27M |
| 0I3I.L The Cooper Companies, Inc. | +$160M |
| ACIW ACI Worldwide, Inc. | +$11M |
| MLM Martin Marietta Materials, Inc | +$11M |
| QLYS Qualys, Inc. | +$41M |
| HAE Haemonetics Corporation | +$20M |
| TTC The Toro Company | +$4M |
Top sells this quarter · 15
| GLW Corning Incorporated | −$510M |
| APH Amphenol Corporationexit | −$66M |
| OTIS Otis Worldwide Corporation | −$56M |
| SCHW The Charles Schwab Corporation | −$50M |
| WAT Waters Corporation | −$44M |
| AAPL Apple Inc. | −$37M |
| EQH Equitable Holdings, Inc.exit | −$36M |
| NSC Norfolk Southern Corporation | −$32M |
| NGVT Ingevity Corporation | −$32M |
| BF-B Brown-Forman Corporationexit | −$31M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $16.23B | 167 | +12.30% | +17.59% | -5.29% | -1.25B |
| 2025-12-31 | $17.33B | 170 | +10.20% | +17.72% | -7.52% | -0.99B |
| 2025-09-30 | $18.12B | 174 | +8.04% | +17.52% | -9.47% | -0.55B |
| 2025-06-30 | $17.67B | 174 | +11.09% | +14.94% | -3.85% | -0.62B |
| 2025-03-31 | $17.55B | 175 | +2.96% | +8.30% | -5.34% | -0.56B |
| 2024-12-31 | $18.30B | 169 | +11.95% | +24.89% | -12.94% | -0.53B |
| 2024-09-30 | $18.99B | 169 | +24.69% | +36.04% | -11.35% | -0.34B |
| 2024-06-30 | $17.80B | 171 | +8.79% | +24.49% | -15.70% | -0.55B |
| 2024-03-31 | $18.99B | 165 | +18.65% | +29.62% | -10.97% | -0.13B |
| 2023-12-31 | $17.77B | 165 | +14.85% | +26.18% | -11.32% | -0.64B |
| 2023-09-30 | $16.67B | 168 | +12.51% | +21.57% | -9.06% | -0.09B |
| 2023-06-30 | $17.68B | 164 | +12.11% | +19.42% | -7.32% | -0.56B |
| 2023-03-31 | $17.31B | 163 | -5.20% | -7.82% | +2.61% | -0.35B |
| 2022-12-31 | $16.96B | 166 | -13.19% | -18.17% | +4.98% | -0.13B |
| 2022-09-30 | $15.79B | 164 | -10.89% | -15.51% | +4.62% | +0.34B |
| 2022-06-30 | $16.36B | 168 | +9.37% | -10.62% | +19.99% | -0.50B |