Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-2.58%
trims when stocks drop
when a holding falls −10%+
Middle response
+2.71%
steady accumulation
Rally response
-3.19%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| SHProShares - Short S&P500 | $145M | 10.7% | — | 0.8 yr |
| WMTWalmart Inc. | $125M | 9.2% | +42.8% | 7.5 yr |
| PWRQuanta Services, Inc. | $71M | 5.2% | +116.2% | 6.0 yr |
| MSFTMicrosoft Corporation | $69M | 5.0% | -0.6% | 10.5 yr |
| BRK-BBerkshire Hathaway Inc. | $57M | 4.2% | — | 10.0 yr |
| CVXChevron Corporation | $56M | 4.1% | +29.2% | 10.5 yr |
| LHXL3Harris Technologies, I | $49M | 3.6% | +67.7% | 2.3 yr |
| PSXPhillips 66 | $40M | 2.9% | +53.0% | 5.3 yr |
| AEPAmerican Electric Power | $37M | 2.7% | +24.0% | 3.8 yr |
| WPMWheaton Precious Metals | $35M | 2.6% | +70.0% | 3.3 yr |
| WMWaste Management, Inc. | $34M | 2.5% | +0.8% | 6.0 yr |
| CNPCenterPoint Energy, Inc. | $31M | 2.3% | +21.9% | 2.5 yr |
| 0HQN.LCboe Global Markets, Inc | $29M | 2.1% | +26.3% | 1.5 yr |
| NEENextEra Energy, Inc. | $29M | 2.1% | +34.9% | 2.0 yr |
| EOGEOG Resources, Inc. | $28M | 2.1% | +16.9% | 5.0 yr |
Portfolio composition (YoY)
Industry mix
Asset Management - Leveraged10.7%+6.0pp$145M
Discount Stores9.2%+1.4pp$125M
Regulated Electric9.1%+1.8pp$124M
Aerospace & Defense5.5%+1.2pp$75M
Engineering & Construction5.2%+2.3pp$71M
Software - Infrastructure5.0%-2.5pp$69M
Industrial - Machinery4.3%-0.1pp$59M
Insurance - Diversified4.2%-1.2pp$57M
Oil & Gas Integrated4.1%+0.2pp$56M
Gold4.1%-2.8pp$55M
Country
US95.3%+6.0pp
CA3.6%-2.1pp
IE1.1%-3.9pp
Top 5: 34.3% · Top 10: 50.2% · Top 25: 79.3%
Top buys this quarter · 15
| UPS United Parcel Service, Inc. | +$8M |
| DUK Duke Energy Corporation | +$0M |
| SPY State Street SPDR S&P 500 ETF | +$0M |
| SYK Stryker Corporation | +$24M |
| DTE DTE Energy Company | +$0M |
| EOG EOG Resources, Inc. | +$0M |
| T AT&T Inc. | +$0M |
| AEE Ameren Corporation | +$0M |
| KO The Coca-Cola Company | +$0M |
| PEP PepsiCo, Inc. | +$0M |
Top sells this quarter · 15
| CRM Salesforce, Inc.exit | −$41M |
| AEM Agnico Eagle Mines Limited | −$23M |
| MSFT Microsoft Corporation | −$15M |
| WPM Wheaton Precious Metals Corp. | −$10M |
| CCK Crown Holdings, Inc. | −$14M |
| AMT American Tower Corporationexit | −$10M |
| GPC Genuine Parts Companyexit | −$9M |
| NEM Newmont Corporation | −$5M |
| WMT Walmart Inc. | −$113M |
| ACN Accenture plcexit | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.36B | 52 | +23.12% | +17.59% | +5.53% | -0.07B |
| 2025-12-31 | $1.31B | 59 | +17.04% | +17.72% | -0.68% | +0.09B |
| 2025-09-30 | $1.21B | 51 | +10.45% | +17.52% | -7.06% | +0.01B |
| 2025-06-30 | $1.13B | 49 | +12.87% | +14.94% | -2.07% | -0.13B |
| 2025-03-31 | $1.20B | 53 | +6.62% | +8.30% | -1.69% | +0.07B |
| 2024-12-31 | $1.09B | 50 | +11.90% | +24.89% | -12.99% | +0.03B |
| 2024-09-30 | $1.11B | 48 | +27.05% | +36.04% | -8.98% | -0.05B |
| 2024-06-30 | $1.08B | 49 | +13.62% | +24.49% | -10.87% | -0.01B |
| 2024-03-31 | $1.09B | 46 | +19.09% | +29.62% | -10.53% | +0.13B |
| 2023-12-31 | $886M | 42 | +11.18% | +26.18% | -14.99% | -0.05B |
| 2023-09-30 | $858M | 40 | +15.16% | +21.57% | -6.41% | -0.00B |
| 2023-06-30 | $894M | 40 | +14.10% | +19.42% | -5.33% | +0.04B |
| 2023-03-31 | $822M | 35 | -1.89% | -7.82% | +5.93% | -0.19B |
| 2022-12-31 | $994M | 36 | -7.77% | -18.17% | +10.41% | -0.08B |
| 2022-09-30 | $954M | 38 | -8.98% | -15.51% | +6.53% | -0.01B |
| 2022-06-30 | $1.01B | 38 | -4.33% | -10.62% | +6.29% | -0.11B |