Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-4.66%
trims when stocks drop
when a holding falls −10%+
Middle response
-6.09%
baseline attrition
Rally response
-7.70%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| BPOPPopular, Inc. | $87M | 7.1% | +48.9% | 9.8 yr |
| JAZZJazz Pharmaceuticals plc | $79M | 6.4% | +52.3% | 5.0 yr |
| LINLinde plc | $62M | 5.1% | +7.9% | 3.3 yr |
| UTHRUnited Therapeutics Corp | $57M | 4.7% | +92.4% | 5.3 yr |
| — | $54M | 4.5% | — | 1.5 yr |
| LNTHLantheus Holdings, Inc. | $47M | 3.8% | -22.3% | 0.8 yr |
| ARWArrow Electronics, Inc. | $41M | 3.4% | +38.1% | 6.3 yr |
| MPCMarathon Petroleum Corpo | $38M | 3.1% | +71.2% | 10.5 yr |
| CVSCVS Health Corporation | $37M | 3.0% | +10.0% | 5.5 yr |
| EMNEastman Chemical Company | $36M | 2.9% | -9.1% | 0.3 yr |
| GILDGilead Sciences, Inc. | $35M | 2.9% | +27.7% | 3.8 yr |
| JPMJPMorgan Chase & Co. | $35M | 2.8% | +21.8% | 9.8 yr |
| WBSWebster Financial Corpor | $34M | 2.8% | +38.5% | 10.5 yr |
| IBOCInternational Bancshares | $31M | 2.5% | +8.9% | 10.5 yr |
| MKSIMKS Inc. | $31M | 2.5% | +188.8% | 6.3 yr |
Portfolio composition (YoY)
Industry mix
Banks - Regional19.9%+3.0pp$243M
Biotechnology11.3%+2.5pp$138M
Unknown6.2%-2.2pp$76M
Chemicals - Specialty5.2%-1.2pp$64M
Drug Manufacturers - General5.0%+0.7pp$61M
Medical - Healthcare Plans4.8%-0.4pp$58M
Auto - Parts4.1%-0.2pp$50M
Drug Manufacturers - Specialty & Generic4.1%+4.0pp$50M
Packaged Foods3.8%-0.5pp$46M
Technology Distributors3.5%+1.8pp$43M
Country
US78.0%+13.4pp
GB6.7%-1.9pp
IE6.5%+0.3pp
Unknown6.2%-2.2pp
CH2.3%+0.4pp
BM0.2%+0.1pp
PE0.1%+0.0pp
Top 5: 27.7% · Top 10: 44.0% · Top 25: 80.8%
Top buys this quarter · 15
| EMN Eastman Chemical Companynew | +$36M |
| LNTH Lantheus Holdings, Inc. | +$6M |
| SLM SLM Corporation | +$31M |
| GLPI Gaming and Leisure Properties, | +$2M |
| HNI HNI Corporationnew | +$1M |
| NMIH NMI Holdings, Inc. | +$1M |
| INGR Ingredion Incorporated | +$1M |
| PDD PDD Holdings Inc. | +$1M |
| BKE The Buckle, Inc. | +$1M |
| CVLG Covenant Logistics Group, Inc. | +$1M |
Top sells this quarter · 15
| MKSI MKS Inc. | −$30M |
| SBH Sally Beauty Holdings, Inc.exit | −$24M |
| UNH UnitedHealth Group Incorporateexit | −$12M |
| LIN Linde plc | −$57M |
| BPOP Popular, Inc. | −$85M |
| UTHR United Therapeutics Corporatio | −$51M |
| JAZZ Jazz Pharmaceuticals plc | −$74M |
| NOMD Nomad Foods Limited | −$2M |
| MPC Marathon Petroleum Corporation | −$27M |
| EVTC EVERTEC, Inc.exit | −$2M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.22B | 84 | +22.94% | +17.59% | +5.34% | -0.09B |
| 2025-12-31 | $1.21B | 89 | +15.21% | +17.72% | -2.51% | -0.36B |
| 2025-09-30 | $1.52B | 90 | +10.37% | +17.52% | -7.15% | -0.10B |
| 2025-06-30 | $1.50B | 92 | +12.48% | +14.94% | -2.46% | -0.28B |
| 2025-03-31 | $1.75B | 91 | +5.97% | +8.30% | -2.34% | -0.36B |
| 2024-12-31 | $2.07B | 96 | +14.66% | +24.89% | -10.23% | +0.07B |
| 2024-09-30 | $2.03B | 92 | +30.90% | +36.04% | -5.14% | -0.02B |
| 2024-06-30 | $1.87B | 92 | +16.53% | +24.49% | -7.96% | -0.06B |
| 2024-03-31 | $2.01B | 92 | +22.42% | +29.62% | -7.20% | -0.28B |
| 2023-12-31 | $2.07B | 93 | +9.25% | +26.18% | -16.93% | -0.02B |
| 2023-09-30 | $1.86B | 92 | +10.06% | +21.57% | -11.51% | -0.75B |
| 2023-06-30 | $2.66B | 92 | +3.30% | +19.42% | -16.13% | -0.04B |
| 2023-03-31 | $2.68B | 95 | -6.53% | -7.82% | +1.29% | -0.15B |
| 2022-12-31 | $2.87B | 96 | +13.23% | +7.56% | +5.67% | -0.01B |
| 2022-09-30 | $2.55B | 100 | -8.18% | -4.93% | -3.25% | -0.02B |
| 2022-06-30 | $2.80B | 101 | -8.68% | -16.11% | +7.43% | -0.07B |