Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-15.68%
trims when stocks drop
when a holding falls −10%+
Middle response
-8.36%
baseline attrition
Rally response
-15.32%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| GOOGAlphabet Inc. | $61M | 5.9% | +84.3% | 6.5 yr |
| NVDANVIDIA Corporation | $40M | 3.9% | +60.9% | 4.0 yr |
| AMZNAmazon.com, Inc. | $40M | 3.9% | +9.5% | 9.3 yr |
| AAPLApple Inc. | $39M | 3.7% | +14.7% | 7.5 yr |
| CCLCarnival Corporation & p | $38M | 3.7% | +33.1% | 5.3 yr |
| EXEExpand Energy Corporatio | $37M | 3.6% | +1.7% | 3.0 yr |
| PHMPulteGroup, Inc. | $37M | 3.6% | +15.3% | 6.3 yr |
| ETNEaton Corporation plc | $36M | 3.5% | +33.2% | 0.5 yr |
| BAThe Boeing Company | $36M | 3.4% | +16.7% | 5.0 yr |
| DHID.R. Horton, Inc. | $36M | 3.4% | +9.2% | 8.3 yr |
| RCLRoyal Caribbean Cruises | $34M | 3.3% | +35.9% | 6.3 yr |
| RTXRTX Corporation | $29M | 2.8% | +48.1% | 4.8 yr |
| SCHWThe Charles Schwab Corpo | $25M | 2.5% | +21.5% | 3.0 yr |
| RIGTransocean Ltd. | $24M | 2.3% | +109.1% | 3.3 yr |
| LNGCheniere Energy, Inc. | $24M | 2.3% | +23.8% | 4.3 yr |
Portfolio composition (YoY)
Industry mix
Aerospace & Defense15.5%+6.0pp$160M
Internet Content & Information7.2%+1.0pp$75M
Residential Construction7.0%+2.7pp$73M
Oil & Gas Exploration & Production6.8%+1.2pp$70M
Semiconductors6.6%+5.1pp$68M
Specialty Retail4.6%+0.5pp$47M
Oil & Gas Equipment & Services4.1%+3.9pp$42M
Consumer Electronics3.7%+0.7pp$39M
Leisure3.7%+0.5pp$38M
Industrial - Machinery3.5%+3.3pp$36M
Country
US88.7%+4.8pp
IE4.0%+3.4pp
CH2.4%+1.3pp
Unknown2.4%-1.4pp
BM0.9%-1.0pp
UY0.7%-0.5pp
CA0.3%
BR0.2%-1.9pp
Top 5: 21.0% · Top 10: 38.6% · Top 25: 71.7%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| RIG | $9M | +0.01B | 109.1% |
| CCL | $25M | +0.01B | 33.1% |
| RCL | $20M | +0.01B | 35.9% |
| DELL | $8M | +0.01B | 83.4% |
| LNG | $21M | +0.00B | 23.8% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| MSFT | $42M | -0.00B | -0.6% |
Top buys this quarter · 15
| UPS United Parcel Service, Inc. | +$23M |
| ETN Eaton Corporation plc | +$21M |
| LMT Lockheed Martin Corporation | +$19M |
| SLB SLB N.V. | +$17M |
| HAL Halliburton Company | +$16M |
| MGM MGM Resorts Internationalnew | +$16M |
| DOW Dow Inc. | +$14M |
| EXE Expand Energy Corporation | +$13M |
| GOOG Alphabet Inc. | +$11M |
| SSRM SSR Mining Inc.new | +$11M |
Top sells this quarter · 15
| MPWR Monolithic Power Systems, Inc. | −$88M |
| META Meta Platforms, Inc. | −$23M |
| LVS Las Vegas Sands Corp.exit | −$20M |
| HII Huntington Ingalls Industries, | −$19M |
| AVGO Broadcom Inc. | −$19M |
| BABA Alibaba Group Holding Limitedexit | −$18M |
| BAH Booz Allen Hamilton Holding Coexit | −$18M |
| TXT Textron Inc.exit | −$17M |
| UHS Universal Health Services, Incexit | −$14M |
| WYNN Wynn Resorts, Limitedexit | −$13M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.04B | 95 | +29.56% | +17.59% | +11.97% | -0.05B |
| 2025-12-31 | $1.11B | 106 | +25.72% | +17.72% | +8.00% | -0.04B |
| 2025-09-30 | $1.12B | 106 | +25.34% | +17.52% | +7.82% | +0.01B |
| 2025-06-30 | $997M | 116 | +16.18% | +14.94% | +1.24% | +0.09B |
| 2025-03-31 | $792M | 104 | +8.16% | +8.30% | -0.15% | -0.04B |
| 2024-12-31 | $874M | 118 | +23.05% | +24.89% | -1.83% | -0.13B |
| 2024-09-30 | $977M | 132 | +31.11% | +36.04% | -4.93% | +0.03B |
| 2024-06-30 | $916M | 118 | +20.54% | +24.49% | -3.95% | -0.06B |
| 2024-03-31 | $910M | 117 | +21.87% | +29.62% | -7.76% | -0.07B |
| 2023-12-31 | $904M | 192 | +16.95% | +26.18% | -9.23% | -0.11B |
| 2023-09-30 | $932M | 202 | +12.20% | +21.57% | -9.37% | -0.01B |
| 2023-06-30 | $992M | 175 | +12.78% | +19.42% | -6.64% | -0.00B |
| 2023-03-31 | $920M | 162 | -9.52% | -7.82% | -1.71% | -0.10B |
| 2022-12-31 | $979M | 156 | +4.71% | +7.56% | -2.85% | +0.29B |
| 2022-09-30 | $657M | 75 | -4.18% | -4.93% | +0.75% | -0.07B |
| 2022-06-30 | $757M | 72 | -13.16% | -16.11% | +2.95% | -0.37B |