Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-0.02%
trims when stocks drop
when a holding falls −10%+
Middle response
-9.03%
baseline attrition
Rally response
-1.68%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| VEAVanguard FTSE Developed | $18M | 35.5% | — | 3.8 yr |
| VGSHVanguard Short-Term Trea | $13M | 26.4% | — | 1.5 yr |
| PSBDPalmer Square Capital BD | $5M | 10.0% | -19.1% | 2.3 yr |
| ELThe Estée Lauder Compan | $0M | 0.5% | +10.5% | 4.5 yr |
| RYANRyan Specialty Holdings, | $0M | 0.5% | -53.9% | 0.3 yr |
| TRUTransUnion | $0M | 0.5% | -16.1% | 2.8 yr |
| WMGWarner Music Group Corp. | $0M | 0.5% | -16.4% | 0.8 yr |
| SOLVSolventum Corporation | $0M | 0.5% | -14.1% | 0.8 yr |
| TMOThermo Fisher Scientific | $0M | 0.5% | -0.9% | 5.3 yr |
| ZZillow Group, Inc. Class | $0M | 0.5% | -39.6% | 3.0 yr |
| RELXRELX Plc | $0M | 0.5% | -33.1% | 2.8 yr |
| SPGIS&P Global Inc. | $0M | 0.5% | -15.6% | 2.8 yr |
| VVisa Inc. | $0M | 0.5% | -13.1% | 8.0 yr |
| AJGArthur J. Gallagher & Co | $0M | 0.5% | -36.6% | 6.3 yr |
| PEPPepsiCo, Inc. | $0M | 0.5% | +7.7% | 6.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management45.5%+41.4pp$23M
Asset Management - Leveraged26.4%$13M
Entertainment2.4%-4.0pp$1M
Drug Manufacturers - General2.4%-4.5pp$1M
Financial - Data & Stock Exchanges1.9%+0.0pp$1M
Household & Personal Products1.4%-3.6pp$1M
Software - Application1.4%-3.3pp$1M
Consulting Services1.0%-2.0pp$0M
Specialty Business Services1.0%-0.8pp$0M
Internet Content & Information1.0%-1.8pp$0M
Country
US93.4%+12.1pp
GB2.9%-4.2pp
IE1.4%-3.6pp
DE0.5%-1.2pp
CH0.5%-1.3pp
DK0.5%-0.9pp
Unknown0.4%-1.4pp
NL0.4%
Top 5: 72.8% · Top 10: 75.3% · Top 25: 82.6%
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $50M | 62 | +3.07% | +17.59% | -14.52% | +0.04B |
| 2025-12-31 | $14M | 2 | +10.92% | +17.72% | -6.80% | -0.28B |
| 2025-09-30 | $289M | 57 | +6.32% | +17.52% | -11.20% | +0.01B |
| 2025-06-30 | $271M | 66 | +15.99% | +14.94% | +1.05% | +0.01B |
| 2025-03-31 | $255M | 58 | +11.91% | +8.30% | +3.61% | -0.01B |
| 2024-12-31 | $258M | 58 | +16.53% | +24.89% | -8.36% | +0.01B |
| 2024-09-30 | $256M | 58 | +32.77% | +36.04% | -3.27% | +0.03B |
| 2024-06-30 | $201M | 58 | +13.87% | +24.49% | -10.62% | +0.00B |
| 2024-03-31 | $196M | 60 | +20.89% | +29.62% | -8.73% | -0.17B |
| 2023-12-31 | $348M | 256 | +20.87% | +26.18% | -5.31% | +0.08B |
| 2023-09-30 | $244M | 323 | +19.41% | +21.57% | -2.16% | -0.38B |
| 2023-06-30 | $648M | 600 | +17.63% | +19.42% | -1.80% | -0.10B |
| 2023-03-31 | $703M | 559 | -4.53% | -7.82% | +3.29% | +0.03B |
| 2022-12-31 | $631M | 414 | -14.66% | -18.17% | +3.52% | +0.36B |
| 2022-09-30 | $249M | 362 | -13.08% | -15.51% | +2.43% | -0.04B |
| 2022-06-30 | $301M | 468 | -7.77% | -10.62% | +2.85% | -0.00B |