Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+0.55%
adds when stocks drop
when a holding falls −10%+
Middle response
-1.94%
baseline attrition
Rally response
-2.45%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| — | $12M | 4.3% | — | 10.5 yr |
| — | $9M | 3.0% | — | 10.5 yr |
| CATCaterpillar Inc. | $8M | 2.7% | +117.8% | 10.5 yr |
| — | $6M | 2.2% | — | 6.3 yr |
| WMBThe Williams Companies, | $6M | 2.0% | +25.8% | 10.5 yr |
| — | $6M | 1.9% | — | 10.5 yr |
| AMGNAmgen Inc. | $5M | 1.8% | +16.5% | 5.8 yr |
| OKEONEOK, Inc. | $5M | 1.8% | -3.8% | 10.5 yr |
| — | $5M | 1.6% | — | 10.5 yr |
| — | $5M | 1.6% | — | 5.8 yr |
| MSFTMicrosoft Corporation | $5M | 1.6% | -0.6% | 10.5 yr |
| — | $4M | 1.5% | — | 10.5 yr |
| GELGenesis Energy, L.P. | $4M | 1.5% | +18.6% | 10.5 yr |
| SSRMSSR Mining Inc. | $4M | 1.4% | +193.1% | 1.0 yr |
| — | $4M | 1.4% | — | 9.5 yr |
Portfolio composition (YoY)
Industry mix
Unknown51.0%-0.2pp$147M
Oil & Gas Midstream7.7%-1.2pp$22M
Banks - Regional7.4%-0.7pp$21M
Drug Manufacturers - General2.9%+0.4pp$8M
Agricultural - Machinery2.7%+1.5pp$8M
Oil & Gas Integrated2.4%+0.4pp$7M
Banks - Diversified2.3%+0.1pp$7M
Financial - Mortgages2.1%+0.0pp$6M
Chemicals - Specialty1.7%+0.1pp$5M
Software - Infrastructure1.6%-0.2pp$5M
Country
Unknown51.0%-0.2pp
US48.9%+0.2pp
TW0.1%+0.0pp
GB0.0%-0.0pp
CN0.0%-0.0pp
LU0.0%+0.0pp
PE0.0%
Top 5: 14.2% · Top 10: 22.9% · Top 25: 42.7%
Top buys this quarter · 15
| SSRM SSR Mining Inc. | +$4M |
| CAT Caterpillar Inc. | +$1M |
| MSFT Microsoft Corporation | +$5M |
| AMGN Amgen Inc. | +$0M |
| HD The Home Depot, Inc. | +$0M |
| SHW The Sherwin-Williams Company | +$0M |
| AXP American Express Company | +$3M |
| MCD McDonald's Corporation | +$0M |
| JNJ Johnson & Johnson | +$0M |
| IBM International Business Machine | +$3M |
Top sells this quarter · 15
| AAPL Apple Inc. | −$1M |
| OKE ONEOK, Inc. | −$4M |
| OKTA Okta, Inc.exit | −$0M |
| GRBK Green Brick Partners, Inc.exit | −$0M |
| OCFC OceanFirst Financial Corp. | −$0M |
| CTRA Coterra Energy Inc. | −$0M |
| FLG Flagstar Financial, Inc. | −$1M |
| HWBK Hawthorn Bancshares, Inc. | −$0M |
| BVN CompañÃa de Minas Buenaventu | −$0M |
| FNWB First Northwest Bancorp | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $288M | 218 | +14.59% | +17.59% | -3.00% | +0.01B |
| 2025-12-31 | $272M | 232 | +12.62% | +17.72% | -5.10% | +0.00B |
| 2025-09-30 | $265M | 231 | +15.37% | +17.52% | -2.15% | -0.00B |
| 2025-06-30 | $251M | 210 | +14.51% | +14.94% | -0.43% | +0.01B |
| 2025-03-31 | $235M | 214 | +10.48% | +8.30% | +2.18% | -0.00B |
| 2024-12-31 | $238M | 214 | +16.28% | +24.89% | -8.60% | -0.00B |
| 2024-09-30 | $233M | 216 | +28.68% | +36.04% | -7.36% | -0.00B |
| 2024-06-30 | $221M | 211 | +22.99% | +24.49% | -1.50% | -0.00B |
| 2024-03-31 | $224M | 204 | +24.93% | +29.62% | -4.69% | -0.01B |
| 2023-12-31 | $221M | 197 | +19.73% | +26.18% | -6.45% | -0.00B |
| 2023-09-30 | $193M | 183 | +17.75% | +21.57% | -3.82% | -0.01B |
| 2023-06-30 | $202M | 183 | +11.06% | +19.42% | -8.36% | +0.00B |
| 2023-03-31 | $197M | 245 | -7.26% | -7.82% | +0.56% | -0.01B |
| 2022-12-31 | $206M | 198 | +13.45% | +7.56% | +5.89% | -0.02B |
| 2022-09-30 | $199M | 232 | -4.48% | -4.93% | +0.45% | +0.00B |
| 2022-06-30 | $205M | 211 | -14.69% | -16.11% | +1.42% | -0.00B |