Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+8.41%
adds when stocks drop
when a holding falls −10%+
Middle response
-0.01%
baseline attrition
Rally response
-10.79%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| CCitigroup Inc. | $17M | 4.5% | +63.9% | 10.5 yr |
| TJXThe TJX Companies, Inc. | $15M | 3.9% | +32.7% | 10.5 yr |
| AAPLApple Inc. | $14M | 3.7% | +14.7% | 10.5 yr |
| KWKennedy-Wilson Holdings, | $13M | 3.6% | +30.2% | 9.8 yr |
| GOOGLAlphabet Inc. | $12M | 3.2% | — | 6.3 yr |
| AVGOBroadcom Inc. | $11M | 3.1% | +86.0% | 6.3 yr |
| AESThe AES Corporation | $11M | 3.1% | +19.9% | 6.5 yr |
| CSCOCisco Systems, Inc. | $11M | 3.1% | +28.1% | 10.5 yr |
| NEENextEra Energy, Inc. | $11M | 3.0% | +34.9% | 1.0 yr |
| SONYSony Group Corporation | $11M | 2.9% | -18.3% | 5.0 yr |
| — | $10M | 2.6% | — | 1.5 yr |
| DALDelta Air Lines, Inc. | $10M | 2.6% | +54.5% | 7.0 yr |
| JEFJefferies Financial Grou | $10M | 2.6% | -20.7% | 8.0 yr |
| ACNAccenture plc | $9M | 2.4% | -35.6% | 10.5 yr |
| AIGAmerican International G | $9M | 2.3% | -11.5% | 9.0 yr |
Portfolio composition (YoY)
Industry mix
Consumer Electronics6.6%-1.1pp$24M
Unknown5.8%+0.1pp$21M
Semiconductors5.3%-0.4pp$20M
Software - Application5.3%+1.0pp$19M
Banks - Diversified4.6%-0.6pp$17M
Asset Management4.2%+0.7pp$15M
Banks - Regional4.1%+0.1pp$15M
Engineering & Construction4.0%-1.8pp$15M
Apparel - Retail3.9%-0.5pp$15M
Real Estate - Services3.6%+0.7pp$13M
Country
US82.1%+0.8pp
Unknown5.8%+0.1pp
JP2.9%-1.0pp
IE2.4%-1.0pp
DE2.2%+0.5pp
CH1.4%-0.1pp
GB1.4%+1.3pp
BE1.4%-0.0pp
Top 5: 18.9% · Top 10: 34.0% · Top 25: 66.0%
Top buys this quarter · 15
| RYN Rayonier Inc.new | +$7M |
| BBY Best Buy Co., Inc. | +$4M |
| TTEK Tetra Tech, Inc.new | +$4M |
| SAP SAP SE | +$8M |
| JEF Jefferies Financial Group Inc. | +$10M |
| VEEV Veeva Systems Inc. | +$2M |
| EVH Evolent Health, Inc. | +$4M |
| SONY Sony Group Corporation | +$11M |
| GPN Global Payments Inc. | +$1M |
| AIG American International Group, | +$9M |
Top sells this quarter · 15
| C Citigroup Inc. | −$6M |
| CFLT Confluent, Inc.exit | −$5M |
| GLW Corning Incorporated | −$5M |
| MU Micron Technology, Inc. | −$4M |
| GIS General Mills, Inc.exit | −$3M |
| CSCO Cisco Systems, Inc. | −$2M |
| ADSK Autodesk, Inc. | −$1M |
| AKAM Akamai Technologies, Inc. | −$7M |
| BSX Boston Scientific Corporationexit | −$1M |
| GVA Granite Construction Incorpora | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $369M | 117 | +23.59% | +17.59% | +6.00% | -0.02B |
| 2025-12-31 | $399M | 120 | +18.74% | +17.72% | +1.02% | +0.00B |
| 2025-09-30 | $377M | 116 | +12.70% | +17.52% | -4.82% | -0.02B |
| 2025-06-30 | $354M | 107 | +6.52% | +14.94% | -8.42% | +0.00B |
| 2025-03-31 | $324M | 105 | -15.09% | +8.30% | -23.39% | +0.00B |
| 2024-12-31 | $343M | 104 | -19.38% | +24.89% | -44.26% | -0.02B |
| 2024-09-30 | $366M | 109 | -14.37% | +36.04% | -50.41% | +0.02B |
| 2024-06-30 | $333M | 102 | -26.21% | +24.49% | -50.70% | +0.04B |
| 2024-03-31 | $336M | 106 | -11.84% | +29.62% | -41.47% | +0.04B |
| 2023-12-31 | $329M | 99 | -3.14% | +26.18% | -29.32% | +0.02B |
| 2023-09-30 | $289M | 98 | -1.25% | +21.57% | -22.82% | +0.01B |
| 2023-06-30 | $304M | 91 | +0.41% | +19.42% | -19.01% | -0.00B |
| 2023-03-31 | $294M | 92 | -13.24% | -7.82% | -5.43% | +0.01B |
| 2022-12-31 | $288M | 95 | +8.22% | +7.56% | +0.66% | -0.00B |
| 2022-09-30 | $269M | 92 | -8.03% | -4.93% | -3.10% | -0.00B |
| 2022-06-30 | $292M | 96 | -10.48% | -16.11% | +5.63% | -0.01B |