Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-4.02%
trims when stocks drop
when a holding falls −10%+
Middle response
-1.15%
baseline attrition
Rally response
+5.29%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| AAPLApple Inc. | $95M | 3.6% | +14.7% | 9.5 yr |
| RTXRTX Corporation | $89M | 3.4% | +48.1% | 6.0 yr |
| CVXChevron Corporation | $89M | 3.3% | +29.2% | 10.5 yr |
| XOMExxon Mobil Corporation | $89M | 3.3% | +47.6% | 10.5 yr |
| JNJJohnson & Johnson | $88M | 3.3% | +51.5% | 10.5 yr |
| JPMJPMorgan Chase & Co. | $81M | 3.1% | +21.8% | 10.5 yr |
| ABBVAbbVie Inc. | $80M | 3.0% | +7.3% | 10.5 yr |
| MSFTMicrosoft Corporation | $79M | 3.0% | -0.6% | 10.5 yr |
| NEENextEra Energy, Inc. | $79M | 3.0% | +34.9% | 10.5 yr |
| LMTLockheed Martin Corporat | $77M | 2.9% | +39.0% | 10.5 yr |
| SOThe Southern Company | $76M | 2.8% | +8.4% | 10.5 yr |
| CSCOCisco Systems, Inc. | $73M | 2.8% | +28.1% | 10.5 yr |
| IBMInternational Business M | $71M | 2.7% | -0.1% | 10.5 yr |
| SFBSServisFirst Bancshares, | $71M | 2.7% | -10.7% | 10.5 yr |
| MCDMcDonald's Corporation | $67M | 2.5% | +1.8% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Regulated Electric10.1%+1.8pp$270M
Drug Manufacturers - General9.1%+0.7pp$242M
Semiconductors6.8%+1.1pp$182M
Oil & Gas Integrated6.7%+1.0pp$179M
Aerospace & Defense6.5%+0.9pp$172M
Household & Personal Products5.6%-1.8pp$150M
Banks - Regional5.2%-0.9pp$139M
Software - Infrastructure3.8%-0.0pp$100M
Consumer Electronics3.6%+0.1pp$96M
Banks - Diversified3.3%+0.1pp$88M
Country
US99.4%+0.2pp
Unknown0.2%+0.1pp
IE0.1%-0.3pp
CA0.1%+0.0pp
CH0.1%+0.0pp
GB0.1%-0.0pp
ES0.1%+0.0pp
JP0.0%-0.0pp
Top 5: 16.9% · Top 10: 31.8% · Top 25: 67.4%
Top buys this quarter · 15
| KMB Kimberly-Clark Corporation | +$12M |
| PAYX Paychex, Inc. | +$45M |
| AMAT Applied Materials, Inc. | +$7M |
| AEP American Electric Power Compan | +$7M |
| AJG Arthur J. Gallagher & Co. | +$55M |
| TSLA Tesla, Inc. | +$5M |
| PFE Pfizer Inc. | +$5M |
| QCOM QUALCOMM Incorporated | +$54M |
| NSC Norfolk Southern Corporation | +$3M |
| PG The Procter & Gamble Company | +$3M |
Top sells this quarter · 15
| RTX RTX Corporation | −$7M |
| ACN Accenture plcexit | −$5M |
| SPY State Street SPDR S&P 500 ETF | −$5M |
| JNJ Johnson & Johnson | −$79M |
| XOM Exxon Mobil Corporation | −$66M |
| LMT Lockheed Martin Corporation | −$64M |
| SFBS ServisFirst Bancshares, Inc. | −$2M |
| EMR Emerson Electric Co. | −$2M |
| GIS General Mills, Inc.exit | −$2M |
| NEE NextEra Energy, Inc. | −$70M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $2.66B | 308 | +10.51% | +17.59% | -7.08% | +0.01B |
| 2025-12-31 | $2.59B | 307 | +11.76% | +17.72% | -5.96% | +0.03B |
| 2025-09-30 | $2.56B | 298 | +8.16% | +17.52% | -9.36% | +0.04B |
| 2025-06-30 | $2.39B | 280 | +13.63% | +14.94% | -1.31% | +0.06B |
| 2025-03-31 | $2.27B | 266 | +11.97% | +8.30% | +3.67% | -0.02B |
| 2024-12-31 | $2.22B | 263 | +17.46% | +24.89% | -7.43% | -0.01B |
| 2024-09-30 | $2.30B | 269 | +32.56% | +36.04% | -3.47% | -0.00B |
| 2024-06-30 | $2.08B | 267 | +15.49% | +24.49% | -9.00% | +0.04B |
| 2024-03-31 | $2.02B | 234 | +15.21% | +29.62% | -14.41% | +0.00B |
| 2023-12-31 | $1.86B | 228 | +5.82% | +26.18% | -20.36% | +0.01B |
| 2023-09-30 | $1.69B | 215 | +7.77% | +21.57% | -13.79% | +0.00B |
| 2023-06-30 | $1.74B | 217 | +4.46% | +19.42% | -14.96% | +0.01B |
| 2023-03-31 | $1.72B | 216 | -4.28% | -7.82% | +3.54% | -0.02B |
| 2022-12-31 | $1.75B | 219 | -8.25% | -18.17% | +9.93% | +0.04B |
| 2022-09-30 | $1.54B | 180 | -8.43% | -15.51% | +7.08% | +0.00B |
| 2022-06-30 | $1.64B | 201 | -1.53% | -10.62% | +9.09% | +0.02B |