Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-11.56%
trims when stocks drop
when a holding falls −10%+
Middle response
+1.96%
steady accumulation
Rally response
-6.36%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| VOOVanguard S&P 500 ETF | $33M | 20.1% | — | 3.5 yr |
| SPYState Street SPDR S&P 50 | $17M | 10.7% | +17.6% | 4.8 yr |
| VTIVanguard Total Stock Mar | $16M | 9.9% | — | 3.5 yr |
| GLDSPDR Gold Shares | $10M | 6.3% | — | 3.5 yr |
| IWMiShares Russell 2000 ETF | $10M | 6.2% | — | 2.0 yr |
| RSPInvesco S&P 500 Equal We | $9M | 5.7% | — | 3.5 yr |
| PAAAPGIM AAA CLO ETF | $9M | 5.3% | — | 1.0 yr |
| MPLXMPLX Lp | $4M | 2.5% | +15.4% | 3.5 yr |
| ETEnergy Transfer LP | $4M | 2.3% | +12.1% | 3.5 yr |
| SLViShares Silver Trust | $4M | 2.3% | — | 2.0 yr |
| EMXCiShares MSCI Emerging Ma | $3M | 2.0% | — | 2.8 yr |
| GOOGLAlphabet Inc. | $3M | 2.0% | — | 4.3 yr |
| UUPInvesco DB US Dollar Ind | $3M | 1.6% | — | 0.3 yr |
| EPDEnterprise Products Part | $2M | 1.5% | +18.7% | 3.5 yr |
| OKEONEOK, Inc. | $2M | 1.4% | -3.8% | 3.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management77.9%+0.9pp$127M
Oil & Gas Midstream13.8%-4.1pp$23M
Internet Content & Information2.2%+1.7pp$4M
Asset Management - Leveraged1.9%+1.7pp$3M
Information Technology Services0.6%+0.0pp$1M
Unknown0.4%+0.3pp$1M
Asset Management - Cryptocurrency0.4%-0.9pp$1M
Oil & Gas Refining & Marketing0.3%-0.1pp$0M
Asset Management - Global0.2%-0.4pp$0M
Specialty Retail0.2%-0.0pp$0M
Country
US98.4%-0.7pp
CA0.8%-0.0pp
Unknown0.4%+0.3pp
GB0.2%+0.2pp
DK0.2%
Top 5: 53.1% · Top 10: 71.3% · Top 25: 87.9%
Top buys this quarter · 15
| OWL Blue Owl Capital Inc.new | +$0M |
| AAPL Apple Inc. | +$0M |
| WM Waste Management, Inc.new | +$0M |
| AMZN Amazon.com, Inc. | +$0M |
| ET Energy Transfer LP | +$0M |
| DIS The Walt Disney Company | +$0M |
| TSLX Sixth Street Specialty Lendingnew | +$0M |
| BA The Boeing Companynew | +$0M |
| SOLS Solstice Advanced Materials Innew | +$0M |
| AMLP Alerian MLP ETF | +$0M |
Top sells this quarter · 15
| MSFT Microsoft Corporation | −$1M |
| SPY State Street SPDR S&P 500 ETF | −$0M |
| FSK FS KKR Capital Corp. | −$0M |
| NVDA NVIDIA Corporation | −$0M |
| WHF WhiteHorse Finance, Inc. | −$0M |
| IBM International Business Machine | −$0M |
| META Meta Platforms, Inc. | −$0M |
| NVO Novo Nordisk A/S | −$0M |
| MCD McDonald's Corporationexit | −$0M |
| EPD Enterprise Products Partners L | −$2M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $163M | 137 | +17.32% | +17.59% | -0.27% | -0.01B |
| 2025-12-31 | $168M | 115 | +14.02% | +17.72% | -3.70% | +0.01B |
| 2025-09-30 | $149M | 78 | +15.11% | +17.52% | -2.41% | +0.01B |
| 2025-06-30 | $135M | 77 | +17.40% | +14.94% | +2.45% | +0.02B |
| 2025-03-31 | $117M | 70 | +19.29% | +8.30% | +10.99% | -0.00B |
| 2024-12-31 | $115M | 74 | +30.37% | +24.89% | +5.48% | -0.00B |
| 2024-09-30 | $108M | 72 | +32.61% | +36.04% | -3.43% | -0.01B |
| 2024-06-30 | $108M | 70 | +25.54% | +24.49% | +1.05% | +0.00B |
| 2024-03-31 | $103M | 65 | +27.56% | +29.62% | -2.06% | +0.00B |
| 2023-12-31 | $92M | 66 | +22.47% | +26.18% | -3.71% | -0.00B |
| 2023-09-30 | $86M | 66 | +20.69% | +21.57% | -0.88% | +0.00B |
| 2023-06-30 | $84M | 79 | +230.23% | +19.42% | +210.81% | -0.02B |
| 2023-03-31 | $96M | 68 | +253.02% | -7.82% | +260.84% | +0.00B |
| 2022-12-31 | $87M | 62 | +7.14% | +7.56% | -0.43% | -0.35B |
| 2022-09-30 | $411M | 413 | +171.86% | -4.93% | +176.79% | -2.17B |
| 2022-06-30 | $951M | 607 | +13.50% | -16.11% | +29.61% | -0.22B |