Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+3.67%
adds when stocks drop
when a holding falls −10%+
Middle response
-0.68%
baseline attrition
Rally response
-3.81%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| JBTMJBT Marel Corporation | $49M | 2.4% | +4.9% | 3.3 yr |
| TERTeradyne, Inc. | $49M | 2.3% | +260.2% | 6.0 yr |
| JPMJPMorgan Chase & Co. | $47M | 2.3% | +21.8% | 9.5 yr |
| — | $46M | 2.2% | — | 10.3 yr |
| RSReliance Steel & Aluminu | $45M | 2.1% | +7.0% | 10.3 yr |
| HCAHCA Healthcare, Inc. | $44M | 2.1% | +37.9% | 9.8 yr |
| DELLDell Technologies Inc. | $44M | 2.1% | +83.4% | 2.5 yr |
| DTMDT Midstream, Inc. | $44M | 2.1% | +43.6% | 4.8 yr |
| STXSeagate Technology Holdi | $42M | 2.0% | +366.3% | 1.0 yr |
| DALDelta Air Lines, Inc. | $40M | 1.9% | +54.5% | 6.0 yr |
| CACICACI International Inc | $40M | 1.9% | +48.2% | 2.8 yr |
| CVXChevron Corporation | $40M | 1.9% | +29.2% | 10.3 yr |
| CBChubb Limited | $38M | 1.8% | +9.3% | 10.0 yr |
| LRCXLam Research Corporation | $38M | 1.8% | +196.1% | 1.8 yr |
| MSMorgan Stanley | $38M | 1.8% | +44.8% | 10.3 yr |
Portfolio composition (YoY)
Industry mix
Unknown7.6%-2.0pp$158M
Semiconductors6.1%+1.8pp$128M
Banks - Regional5.4%+0.2pp$113M
Computer Hardware4.1%+2.6pp$86M
Aerospace & Defense4.0%-0.1pp$83M
Financial - Capital Markets3.9%-1.0pp$81M
Industrial - Machinery3.8%+0.1pp$80M
Oil & Gas Midstream3.5%+0.3pp$74M
Specialty Retail3.2%-0.1pp$67M
Conglomerates3.1%$65M
Country
US85.3%+1.4pp
Unknown7.6%-2.0pp
GB2.6%-1.2pp
SG2.0%
CH1.8%-0.3pp
JO0.2%-0.1pp
KY0.2%
IE0.2%-0.1pp
Top 5: 11.3% · Top 10: 21.6% · Top 25: 47.2%
Top buys this quarter · 15
| LH Labcorp Holdings Inc.new | +$26M |
| FHN First Horizon Corporationnew | +$25M |
| SJM The J. M. Smucker Companynew | +$18M |
| AUB Atlantic Union Bankshares Corp | +$18M |
| TTWO Take-Two Interactive Software, | +$15M |
| IDA IDACORP, Inc. | +$12M |
| BDX Becton, Dickinson and Company | +$10M |
| JBTM JBT Marel Corporation | +$8M |
| HON Honeywell International Inc. | +$8M |
| AMZN Amazon.com, Inc. | +$7M |
Top sells this quarter · 15
| WBS Webster Financial Corporationexit | −$35M |
| EA Electronic Arts Inc.exit | −$30M |
| ALL The Allstate Corporation | −$20M |
| ZBH Zimmer Biomet Holdings, Inc.exit | −$19M |
| LRCX Lam Research Corporation | −$16M |
| MS Morgan Stanley | −$12M |
| STX Seagate Technology Holdings pl | −$37M |
| MU Micron Technology, Inc. | −$10M |
| HCA HCA Healthcare, Inc. | −$8M |
| COF Capital One Financial Corporat | −$7M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $2.09B | 173 | +30.02% | +17.59% | +12.43% | -0.03B |
| 2025-12-31 | $2.06B | 176 | +25.72% | +17.72% | +8.00% | -0.07B |
| 2025-09-30 | $2.00B | 174 | +18.06% | +17.52% | +0.54% | -0.04B |
| 2025-06-30 | $1.85B | 167 | +14.86% | +14.94% | -0.08% | -0.02B |
| 2025-03-31 | $1.72B | 167 | +6.05% | +8.30% | -2.26% | -0.01B |
| 2024-12-31 | $1.74B | 170 | +19.13% | +24.89% | -5.75% | +0.00B |
| 2024-09-30 | $1.75B | 172 | +32.65% | +36.04% | -3.39% | +0.01B |
| 2024-06-30 | $1.62B | 166 | +16.36% | +24.49% | -8.13% | -0.02B |
| 2024-03-31 | $1.64B | 171 | +22.64% | +29.62% | -6.98% | -0.04B |
| 2023-12-31 | $1.50B | 165 | +11.73% | +26.18% | -14.45% | -0.02B |
| 2023-09-30 | $1.37B | 172 | +12.49% | +21.57% | -9.08% | +0.01B |
| 2023-06-30 | $1.44B | 169 | +15.07% | +19.42% | -4.35% | +0.06B |
| 2023-03-31 | $1.31B | 141 | -4.14% | -7.82% | +3.67% | -0.01B |
| 2022-12-31 | $1.30B | 140 | +11.49% | +7.56% | +3.93% | +0.02B |
| 2022-09-30 | $1.15B | 133 | -3.71% | -4.93% | +1.22% | -0.01B |
| 2022-06-30 | $1.21B | 140 | -12.24% | -16.11% | +3.87% | +0.00B |