Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+1.75%
adds when stocks drop
when a holding falls −10%+
Middle response
+1.65%
steady accumulation
Rally response
-0.59%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| AAPLApple Inc. | $77M | 2.4% | +14.7% | 10.5 yr |
| VBRVanguard Small-Cap Value | $64M | 2.0% | — | 10.5 yr |
| MSFTMicrosoft Corporation | $63M | 2.0% | -0.6% | 10.5 yr |
| SNXTD SYNNEX Corporation | $53M | 1.7% | +64.5% | 10.5 yr |
| GOOGAlphabet Inc. | $52M | 1.6% | +84.3% | 10.5 yr |
| AMATApplied Materials, Inc. | $51M | 1.6% | +137.6% | 10.5 yr |
| UGIUGI Corporation | $48M | 1.5% | +14.7% | 7.8 yr |
| RLIRLI Corp. | $46M | 1.5% | -26.0% | 10.5 yr |
| VBILVanguard 0-3 Month Treas | $46M | 1.5% | — | 1.0 yr |
| VBKVanguard Small-Cap Growt | $42M | 1.3% | — | 10.5 yr |
| NJRNew Jersey Resources Cor | $41M | 1.3% | +16.5% | 10.5 yr |
| ARWArrow Electronics, Inc. | $38M | 1.2% | +38.1% | 5.3 yr |
| OSKOshkosh Corporation | $38M | 1.2% | +59.0% | 10.5 yr |
| AVGOBroadcom Inc. | $36M | 1.1% | +86.0% | 8.0 yr |
| GLWCorning Incorporated | $34M | 1.1% | +201.5% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management16.7%+0.9pp$528M
Semiconductors8.0%+1.6pp$251M
Software - Infrastructure3.9%-0.9pp$125M
Internet Content & Information3.6%+0.1pp$113M
Industrial - Machinery3.4%+0.1pp$107M
Hardware, Equipment & Parts3.1%+0.8pp$99M
Drug Manufacturers - General3.1%-0.2pp$96M
Technology Distributors2.9%+0.5pp$92M
Regulated Gas2.8%+0.7pp$90M
Insurance - Property & Casualty2.6%-0.1pp$82M
Country
US94.6%+0.2pp
IE1.7%-0.2pp
KY1.0%-0.3pp
GB0.9%+0.2pp
NL0.5%+0.4pp
CA0.5%+0.0pp
TW0.5%+0.4pp
BM0.3%-0.7pp
Top 5: 9.8% · Top 10: 17.2% · Top 25: 33.6%
Top buys this quarter · 15
| FAF First American Financial Corponew | +$27M |
| TEX Terex Corporationnew | +$25M |
| DORM Dorman Products, Inc.new | +$25M |
| PLUS ePlus inc. | +$10M |
| NTB The Bank of N.T. Butterfield &new | +$8M |
| JBTM JBT Marel Corporation | +$27M |
| NVDA NVIDIA Corporation | +$3M |
| PSA Public Storage | +$2M |
| LIN Linde plc | +$2M |
| PGR The Progressive Corporation | +$16M |
Top sells this quarter · 15
| ECG Everus Construction Group, Inc | −$13M |
| QRVO Qorvo, Inc. | −$11M |
| IDCC InterDigital, Inc. | −$8M |
| VSEC VSE Corporation | −$6M |
| CSGS CSG Systems International, Inc | −$6M |
| DECK Deckers Outdoor Corporation | −$3M |
| AMT American Tower Corporation | −$2M |
| AMAT Applied Materials, Inc. | −$40M |
| PRU Prudential Financial, Inc. | −$2M |
| MRK Merck & Co., Inc. | −$15M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $3.16B | 360 | +20.88% | +17.59% | +3.28% | +0.08B |
| 2025-12-31 | $3.07B | 345 | +16.15% | +17.72% | -1.57% | +0.00B |
| 2025-09-30 | $3.02B | 341 | +15.70% | +17.52% | -1.82% | -0.01B |
| 2025-06-30 | $2.79B | 336 | +15.06% | +14.94% | +0.12% | +0.13B |
| 2025-03-31 | $2.42B | 329 | +5.42% | +8.30% | -2.89% | +0.05B |
| 2024-12-31 | $2.46B | 322 | +16.71% | +24.89% | -8.18% | +0.01B |
| 2024-09-30 | $2.42B | 318 | +30.61% | +36.04% | -5.42% | +0.02B |
| 2024-06-30 | $2.24B | 313 | +18.16% | +24.49% | -6.33% | +0.00B |
| 2024-03-31 | $2.22B | 318 | +23.95% | +29.62% | -5.68% | -0.01B |
| 2023-12-31 | $2.10B | 310 | +20.76% | +26.18% | -5.41% | -0.04B |
| 2023-09-30 | $1.89B | 310 | +19.76% | +21.57% | -1.80% | +0.12B |
| 2023-06-30 | $1.82B | 321 | +15.50% | +19.42% | -3.92% | +0.03B |
| 2023-03-31 | $1.69B | 311 | -5.78% | -7.82% | +2.04% | -0.02B |
| 2022-12-31 | $1.64B | 311 | -13.56% | -18.17% | +4.61% | +0.02B |
| 2022-09-30 | $1.45B | 287 | -14.42% | -15.51% | +1.09% | +0.04B |
| 2022-06-30 | $1.50B | 293 | -8.39% | -10.62% | +2.23% | +0.03B |