Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+1.17%
adds when stocks drop
when a holding falls −10%+
Middle response
-1.59%
baseline attrition
Rally response
-3.59%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| CNRCore Natural Resources, | $13M | 2.7% | +36.6% | 1.3 yr |
| GOOGLAlphabet Inc. | $13M | 2.7% | — | 10.5 yr |
| NEMNewmont Corporation | $13M | 2.6% | +127.1% | 3.3 yr |
| CCitigroup Inc. | $13M | 2.6% | +63.9% | 10.5 yr |
| SPYState Street SPDR S&P 50 | $11M | 2.3% | +17.6% | 10.5 yr |
| GSThe Goldman Sachs Group, | $11M | 2.3% | +58.1% | 10.5 yr |
| NVDANVIDIA Corporation | $11M | 2.3% | +60.9% | 1.8 yr |
| CSCOCisco Systems, Inc. | $11M | 2.3% | +28.1% | 10.5 yr |
| MSMorgan Stanley | $11M | 2.2% | +44.8% | 10.5 yr |
| XOMExxon Mobil Corporation | $10M | 2.1% | +47.6% | 10.5 yr |
| FCXFreeport-McMoRan Inc. | $10M | 2.1% | +57.4% | 7.8 yr |
| UBERUber Technologies, Inc. | $10M | 2.1% | -1.3% | 5.8 yr |
| LYBLyondellBasell Industrie | $10M | 2.0% | +25.0% | 9.0 yr |
| PFEPfizer Inc. | $10M | 2.0% | +18.8% | 10.5 yr |
| MSFTMicrosoft Corporation | $9M | 1.9% | -0.6% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management8.9%+3.6pp$43M
Drug Manufacturers - General5.7%-0.6pp$27M
Oil & Gas Midstream5.1%+0.2pp$24M
Semiconductors4.7%+1.8pp$23M
Financial - Capital Markets4.5%-0.3pp$22M
Software - Infrastructure4.4%+1.2pp$21M
REIT - Specialty4.0%+0.0pp$19M
Oil & Gas Integrated4.0%+0.4pp$19M
Banks - Regional3.7%+1.1pp$18M
Internet Content & Information3.1%+1.4pp$15M
Country
US94.8%-0.5pp
AU3.1%+1.0pp
GB1.7%-0.3pp
CA0.2%+0.1pp
JP0.1%+0.1pp
IE0.1%-0.1pp
Top 5: 13.0% · Top 10: 24.2% · Top 25: 51.7%
Top buys this quarter · 15
| SPY State Street SPDR S&P 500 ETF | +$11M |
| UBER Uber Technologies, Inc. | +$10M |
| UNP Union Pacific Corporation | +$5M |
| MSFT Microsoft Corporation | +$4M |
| NVDA NVIDIA Corporation | +$4M |
| AMZN Amazon.com, Inc.new | +$4M |
| PANW Palo Alto Networks, Inc.new | +$4M |
| MO Altria Group, Inc. | +$3M |
| KHC The Kraft Heinz Company | +$3M |
| VZ Verizon Communications Inc. | +$3M |
Top sells this quarter · 15
| VLO Valero Energy Corporation | −$8M |
| GM General Motors Companyexit | −$6M |
| BKR Baker Hughes Company | −$6M |
| NRG NRG Energy, Inc.exit | −$6M |
| DAL Delta Air Lines, Inc. | −$6M |
| MCK McKesson Corporationexit | −$5M |
| DOW Dow Inc. | −$4M |
| NEM Newmont Corporation | −$4M |
| HPE Hewlett Packard Enterprise Comexit | −$3M |
| LNG Cheniere Energy, Inc.exit | −$3M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $480M | 130 | +27.76% | +17.59% | +10.17% | -0.01B |
| 2025-12-31 | $464M | 114 | +21.45% | +17.72% | +3.74% | +0.00B |
| 2025-09-30 | $445M | 106 | +17.16% | +17.52% | -0.35% | +0.01B |
| 2025-06-30 | $405M | 106 | +17.80% | +14.94% | +2.86% | -0.01B |
| 2025-03-31 | $382M | 110 | +12.07% | +8.30% | +3.76% | +0.02B |
| 2024-12-31 | $363M | 105 | +20.77% | +24.89% | -4.11% | +0.01B |
| 2024-09-30 | $359M | 106 | +31.02% | +36.04% | -5.02% | -0.01B |
| 2024-06-30 | $336M | 103 | +18.24% | +24.49% | -6.25% | -0.00B |
| 2024-03-31 | $332M | 102 | +18.78% | +29.62% | -10.84% | -0.01B |
| 2023-12-31 | $310M | 98 | +12.32% | +26.18% | -13.85% | +0.00B |
| 2023-09-30 | $283M | 99 | +21.15% | +21.57% | -0.42% | +0.00B |
| 2023-06-30 | $287M | 101 | +15.06% | +19.42% | -4.37% | +0.00B |
| 2023-03-31 | $277M | 100 | -1.36% | -7.82% | +6.46% | -0.02B |
| 2022-12-31 | $284M | 101 | -8.66% | -18.17% | +9.51% | -0.02B |
| 2022-09-30 | $264M | 104 | -12.89% | -15.51% | +2.61% | -0.00B |
| 2022-06-30 | $282M | 106 | -6.36% | -10.62% | +4.26% | +0.00B |