Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-8.52%
trims when stocks drop
when a holding falls −10%+
Middle response
+7.65%
steady accumulation
Rally response
+2.43%
adds into rallies
when a holding rises +10%+
Top positions · 21
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| SATSEchoStar Corporation | $18M | 10.9% | +357.7% | 1.5 yr |
| GOOGLAlphabet Inc. | $17M | 10.5% | — | 1.5 yr |
| AMZNAmazon.com, Inc. | $17M | 10.1% | +9.5% | 1.5 yr |
| CSXCSX Corporation | $11M | 6.4% | +41.6% | 0.8 yr |
| MSFTMicrosoft Corporation | $9M | 5.6% | -0.6% | 1.5 yr |
| METAMeta Platforms, Inc. | $9M | 5.3% | -0.4% | 1.5 yr |
| UBERUber Technologies, Inc. | $8M | 5.0% | -1.3% | 1.5 yr |
| HONHoneywell International | $8M | 4.8% | +9.0% | 0.3 yr |
| SMSM Energy Company | $7M | 4.5% | +8.9% | 0.3 yr |
| TAT&T Inc. | $7M | 4.4% | +5.9% | 1.3 yr |
| USMUnited States Cellular C | $7M | 4.3% | — | 1.5 yr |
| OCOwens Corning | $6M | 3.9% | -22.3% | 0.5 yr |
| GLDSPDR Gold Shares | $6M | 3.9% | — | 0.5 yr |
| LRCXLam Research Corporation | $6M | 3.9% | +196.1% | 0.3 yr |
| BANCBanc of California, Inc. | $6M | 3.7% | +27.0% | 1.5 yr |
Portfolio composition (YoY)
Industry mix
Internet Content & Information15.8%-4.3pp$26M
Communication Equipment10.9%+8.1pp$18M
Specialty Retail10.1%+0.2pp$17M
Telecommunications Services8.7%-4.0pp$14M
Railroads8.0%$13M
Banks - Regional7.3%+3.0pp$12M
Software - Infrastructure5.6%+0.1pp$9M
Software - Application5.0%+0.4pp$8M
Conglomerates4.8%$8M
Oil & Gas Exploration & Production4.5%$7M
Country
US100.0%+3.6pp
Top 5: 43.4% · Top 10: 67.4% · Top 25: 100.0%
Top buys this quarter · 8
| USM United States Cellular Corpora | +$7M |
| HON Honeywell International Inc.new | +$8M |
| SM SM Energy Companynew | +$7M |
| LRCX Lam Research Corporationnew | +$6M |
| WULF TeraWulf Inc.new | +$5M |
| ECVT Ecovyst Inc.new | +$4M |
| AMZN Amazon.com, Inc. | +$4M |
| GBX The Greenbrier Companies, Inc.new | +$3M |
Top sells this quarter · 10
| GGN GAMCO Global Gold, Natural Res | −$0M |
| GLD SPDR Gold Shares | −$0M |
| SATS EchoStar Corporation | −$8M |
| KNTK Kinetik Holdings Inc.exit | −$6M |
| RKT Rocket Companies, Inc. | −$6M |
| META Meta Platforms, Inc. | −$5M |
| CME CME Group Inc.exit | −$1M |
| MCO Moody's Corporationexit | −$1M |
| WAY Waystar Holding Corp.exit | −$1M |
| MSCI MSCI Inc.exit | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $166M | 21 | +30.94% | +17.59% | +13.35% | -0.00B |
| 2025-12-31 | $173M | 20 | +32.77% | +17.72% | +15.05% | +0.01B |
| 2025-09-30 | $160M | 22 | +17.36% | +8.12% | +9.23% | +0.01B |
| 2025-06-30 | $128M | 21 | +13.71% | +10.78% | +2.93% | -0.01B |
| 2025-03-31 | $121M | 23 | -0.38% | -4.27% | +3.89% | +0.02B |
| 2024-12-31 | $96M | 20 | — | — | — | +0.08B |
| 2019-09-30 | $13M | 2 | — | — | — | -0.03B |
| 2019-06-30 | $43M | 3 | — | — | — | +0.04B |
| 2019-03-31 | $6M | 1 | — | — | — | +0.00B |
| 2018-12-31 | $5M | 1 | — | — | — | -0.10B |
| 2018-09-30 | $108M | 9 | — | — | — | -0.08B |
| 2018-06-30 | $184M | 15 | — | — | — | -0.02B |
| 2018-03-31 | $201M | 30 | — | — | — | -0.01B |
| 2017-12-31 | $206M | 30 | — | — | — | -0.02B |
| 2017-09-30 | $230M | 32 | — | — | — | -0.05B |
| 2017-06-30 | $278M | 37 | — | — | — | -0.02B |