Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-6.26%
trims when stocks drop
when a holding falls −10%+
Middle response
+0.01%
steady accumulation
Rally response
-4.47%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| LKQLKQ Corporation | $236M | 5.0% | -28.4% | 9.3 yr |
| AAPLApple Inc. | $135M | 2.9% | +14.7% | 10.0 yr |
| — | $133M | 2.8% | — | 1.8 yr |
| — | $128M | 2.7% | — | 8.0 yr |
| VOOVanguard S&P 500 ETF | $121M | 2.6% | — | 10.5 yr |
| — | $118M | 2.5% | — | 3.0 yr |
| ITOTiShares Core S&P Total U | $100M | 2.1% | — | 9.5 yr |
| — | $91M | 1.9% | — | 8.5 yr |
| MSFTMicrosoft Corporation | $89M | 1.9% | -0.6% | 10.5 yr |
| — | $82M | 1.8% | — | 9.3 yr |
| — | $69M | 1.5% | — | 10.3 yr |
| — | $65M | 1.4% | — | 10.3 yr |
| JNJJohnson & Johnson | $61M | 1.3% | +51.5% | 10.5 yr |
| IVViShares Core S&P 500 ETF | $57M | 1.2% | — | 10.5 yr |
| — | $53M | 1.1% | — | 9.3 yr |
Portfolio composition (YoY)
Industry mix
Unknown39.8%+5.0pp$1.87B
Asset Management16.1%+1.8pp$757M
Auto - Parts5.1%-0.1pp$241M
Consumer Electronics2.9%+0.1pp$135M
Drug Manufacturers - General2.2%+0.7pp$103M
Software - Infrastructure2.1%-0.1pp$99M
Aerospace & Defense2.0%+0.6pp$94M
Industrial - Machinery1.7%+0.5pp$81M
Entertainment1.7%+1.3pp$80M
Chemicals - Specialty1.6%+0.6pp$73M
Country
US59.2%-5.0pp
Unknown39.8%+5.0pp
CA0.5%-0.0pp
NL0.3%+0.1pp
CH0.1%-0.1pp
GB0.0%-0.1pp
TW0.0%+0.0pp
JP0.0%+0.0pp
Top 5: 16.1% · Top 10: 26.3% · Top 25: 42.5%
Top buys this quarter · 15
| WBD Warner Bros. Discovery, Inc. | +$48M |
| RYN Rayonier Inc. | +$26M |
| GILD Gilead Sciences, Inc. | +$18M |
| GPRE Green Plains Inc. | +$17M |
| UNP Union Pacific Corporation | +$14M |
| MA Mastercard Incorporated | +$8M |
| AMTM Amentum Holdings, Inc. | +$8M |
| PPHC Public Policy Holding Company,new | +$7M |
| VAC Marriott Vacations Worldwide C | +$6M |
| CHDN Churchill Downs Incorporated | +$5M |
Top sells this quarter · 15
| MTZ MasTec, Inc. | −$21M |
| AMT American Tower Corporation | −$20M |
| RAL Ralliant Corp. | −$15M |
| VEEV Veeva Systems Inc. | −$12M |
| HLI Houlihan Lokey, Inc. | −$8M |
| HNI HNI Corporationexit | −$7M |
| JNJ Johnson & Johnson | −$57M |
| MDU MDU Resources Group, Inc. | −$5M |
| AAPL Apple Inc. | −$5M |
| ROCK Gibraltar Industries, Inc.exit | −$5M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $4.69B | 2372 | +11.12% | +17.59% | -6.48% | -0.14B |
| 2025-12-31 | $4.84B | 2416 | +8.20% | +17.72% | -9.52% | -0.20B |
| 2025-09-30 | $4.99B | 1939 | +5.20% | +17.52% | -12.31% | -0.14B |
| 2025-06-30 | $4.80B | 1943 | +5.20% | +14.94% | -9.74% | +0.18B |
| 2025-03-31 | $4.47B | 1771 | -1.93% | +8.30% | -10.23% | +0.12B |
| 2024-12-31 | $4.48B | 1810 | +5.02% | +24.89% | -19.87% | +0.17B |
| 2024-09-30 | $4.39B | 1777 | +15.96% | +36.04% | -20.08% | +0.08B |
| 2024-06-30 | $4.04B | 1825 | +2.12% | +24.49% | -22.37% | -0.17B |
| 2024-03-31 | $4.37B | 1755 | +10.77% | +29.62% | -18.85% | -0.01B |
| 2023-12-31 | $4.22B | 1698 | +11.09% | +26.18% | -15.09% | +0.17B |
| 2023-09-30 | $3.73B | 1727 | +6.58% | +21.57% | -14.99% | +0.17B |
| 2023-06-30 | $3.78B | 1751 | +5.30% | +19.42% | -14.12% | +0.12B |
| 2023-03-31 | $3.51B | 1908 | -17.84% | -7.82% | -10.02% | -0.08B |
| 2022-12-31 | $3.44B | 1744 | -24.80% | -18.17% | -6.63% | +0.14B |
| 2022-09-30 | $3.17B | 1990 | -19.72% | -15.51% | -4.21% | -0.09B |
| 2022-06-30 | $3.51B | 2177 | -13.24% | -10.62% | -2.62% | +0.03B |