Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+6.27%
adds when stocks drop
when a holding falls −10%+
Middle response
-4.47%
baseline attrition
Rally response
-9.25%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| UNPUnion Pacific Corporatio | $53M | 6.9% | +5.1% | 10.5 yr |
| GOOGLAlphabet Inc. | $42M | 5.5% | — | 8.0 yr |
| — | $35M | 4.5% | — | 2.8 yr |
| GMGeneral Motors Company | $32M | 4.2% | +60.0% | 10.5 yr |
| AAPLApple Inc. | $25M | 3.2% | +14.7% | 10.5 yr |
| CCICrown Castle Inc. | $23M | 3.1% | -18.3% | 10.5 yr |
| CNRCore Natural Resources, | $22M | 2.9% | +36.6% | 1.3 yr |
| OSKOshkosh Corporation | $20M | 2.6% | +59.0% | 10.5 yr |
| SBACSBA Communications Corpo | $20M | 2.6% | -20.0% | 9.3 yr |
| NSCNorfolk Southern Corpora | $16M | 2.1% | +23.6% | 10.5 yr |
| TAPMolson Coors Beverage Co | $15M | 1.9% | -26.4% | 2.0 yr |
| CCitigroup Inc. | $14M | 1.9% | +63.9% | 8.8 yr |
| OCOwens Corning | $14M | 1.9% | -22.3% | 10.5 yr |
| COHRCoherent, Inc. | $13M | 1.7% | +266.8% | 3.8 yr |
| GEHCGE HealthCare Technologi | $11M | 1.5% | -11.7% | 3.5 yr |
Portfolio composition (YoY)
Industry mix
Railroads11.9%-0.9pp$91M
REIT - Specialty6.9%-0.2pp$53M
Internet Content & Information6.5%+1.3pp$50M
Unknown4.6%-0.2pp$35M
Software - Application4.5%+2.6pp$34M
Auto - Manufacturers4.2%+0.4pp$32M
Industrial - Machinery3.5%+0.6pp$27M
Asset Management3.4%+0.2pp$26M
Banks - Diversified3.2%+0.1pp$25M
Consumer Electronics3.2%-0.9pp$25M
Country
US92.2%-1.7pp
Unknown4.6%-0.2pp
CA2.1%+1.4pp
HK0.7%+0.2pp
IE0.3%
IL0.2%+0.1pp
Top 5: 24.4% · Top 10: 37.6% · Top 25: 59.7%
Top buys this quarter · 15
| CHDN Churchill Downs Incorporated | +$6M |
| ADBE Adobe Inc.new | +$6M |
| SCHW The Charles Schwab Corporation | +$5M |
| TAP Molson Coors Beverage Company | +$4M |
| SSNC SS&C Technologies Holdings, In | +$4M |
| MSFT Microsoft Corporation | +$4M |
| QDEL QuidelOrtho Corporation | +$3M |
| PRDO Perdoceo Education Corporationnew | +$3M |
| SBAC SBA Communications Corporation | +$3M |
| GEHC GE HealthCare Technologies Inc | +$3M |
Top sells this quarter · 15
| KEX Kirby Corporation | −$8M |
| ADEA Adeia Inc. | −$4M |
| TRGP Targa Resources Corp.exit | −$3M |
| AIN Albany International Corp.exit | −$3M |
| NATR Nature's Sunshine Products, In | −$3M |
| MATX Matson, Inc.exit | −$3M |
| KOP Koppers Holdings Inc. | −$2M |
| COHR Coherent, Inc. | −$12M |
| SAM The Boston Beer Company, Inc.exit | −$1M |
| UNP Union Pacific Corporation | −$52M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $763M | 155 | +19.35% | +17.59% | +1.76% | +0.01B |
| 2025-12-31 | $737M | 150 | +12.74% | +17.72% | -4.98% | -0.02B |
| 2025-09-30 | $723M | 152 | +5.89% | +17.52% | -11.63% | -0.02B |
| 2025-06-30 | $690M | 152 | +6.60% | +14.94% | -8.34% | -0.03B |
| 2025-03-31 | $693M | 153 | -0.54% | +8.30% | -8.85% | +0.00B |
| 2024-12-31 | $716M | 150 | +9.21% | +24.89% | -15.68% | -0.00B |
| 2024-09-30 | $736M | 153 | +25.82% | +36.04% | -10.21% | -0.03B |
| 2024-06-30 | $704M | 155 | +5.32% | +24.49% | -19.17% | +0.00B |
| 2024-03-31 | $722M | 151 | +15.28% | +29.62% | -14.35% | +0.01B |
| 2023-12-31 | $677M | 142 | +17.94% | +26.18% | -8.23% | -0.07B |
| 2023-09-30 | $658M | 146 | +11.52% | +21.57% | -10.05% | +0.03B |
| 2023-06-30 | $694M | 145 | +13.77% | +19.42% | -5.65% | -0.03B |
| 2023-03-31 | $681M | 146 | -13.42% | -7.82% | -5.60% | +0.00B |
| 2022-12-31 | $628M | 142 | -23.57% | -18.17% | -5.40% | -0.02B |
| 2022-09-30 | $607M | 142 | -20.43% | -15.51% | -4.92% | -0.02B |
| 2022-06-30 | $679M | 145 | -13.86% | -10.62% | -3.24% | +0.01B |