Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-2.57%
trims when stocks drop
when a holding falls −10%+
Middle response
-3.71%
baseline attrition
Rally response
-8.54%
trims into rallies
when a holding rises +10%+
Top positions · 23
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| MSFTMicrosoft Corporation | $213M | 13.1% | -0.6% | 10.5 yr |
| SAFTSafety Insurance Group, | $130M | 8.0% | -3.4% | 10.5 yr |
| RNRRenaissanceRe Holdings L | $115M | 7.1% | +24.6% | 4.8 yr |
| XLKState Street Technology | $113M | 7.0% | — | 1.3 yr |
| INTCIntel Corporation | $95M | 5.8% | +94.3% | 10.3 yr |
| AMZNAmazon.com, Inc. | $94M | 5.8% | +9.5% | 2.5 yr |
| XLCState Street Communicati | $89M | 5.5% | — | 1.5 yr |
| XLBState Street Materials S | $86M | 5.3% | — | 1.5 yr |
| GEGE Aerospace | $85M | 5.2% | +42.5% | 4.8 yr |
| XLVState Street Health Care | $82M | 5.0% | — | 1.5 yr |
| WMTWalmart Inc. | $77M | 4.7% | +42.8% | 5.8 yr |
| GWWW.W. Grainger, Inc. | $73M | 4.5% | +11.4% | 7.3 yr |
| GOOGLAlphabet Inc. | $66M | 4.1% | — | 4.5 yr |
| TMToyota Motor Corporation | $60M | 3.7% | +18.6% | 4.8 yr |
| MRKMerck & Co., Inc. | $56M | 3.4% | +38.9% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management24.4%+6.8pp$397M
Software - Infrastructure13.1%-3.9pp$213M
Insurance - Property & Casualty8.0%-1.5pp$130M
Insurance - Reinsurance7.1%+0.5pp$115M
Semiconductors5.8%+2.6pp$95M
Specialty Retail5.8%-0.3pp$94M
Aerospace & Defense5.2%+0.2pp$85M
Discount Stores4.7%+0.3pp$77M
Industrial - Distribution4.5%-0.1pp$73M
Internet Content & Information4.1%+1.7pp$66M
Country
US89.2%-0.7pp
BM7.1%+0.5pp
JP3.7%+0.3pp
Top 5: 41.0% · Top 10: 67.7% · Top 25: 100.0%
Top buys this quarter · 0
No buys this quarter
Top sells this quarter · 15
| MSFT Microsoft Corporation | −$43M |
| GE GE Aerospace | −$20M |
| WMT Walmart Inc. | −$13M |
| RNR RenaissanceRe Holdings Ltd. | −$9M |
| PG The Procter & Gamble Company | −$5M |
| SAFT Safety Insurance Group, Inc. | −$3M |
| AMZN Amazon.com, Inc. | −$2M |
| INTC Intel Corporation | −$81M |
| CVS CVS Health Corporation | −$1M |
| GWW W.W. Grainger, Inc. | −$69M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.63B | 23 | +13.62% | +17.59% | -3.97% | -0.10B |
| 2025-12-31 | $1.82B | 23 | +16.50% | +17.72% | -1.22% | +0.02B |
| 2025-09-30 | $1.74B | 23 | +8.73% | +17.52% | -8.78% | +0.00B |
| 2025-06-30 | $1.67B | 23 | +6.93% | +14.94% | -8.01% | -0.03B |
| 2025-03-31 | $1.53B | 23 | -7.75% | +8.30% | -16.06% | -0.17B |
| 2024-12-31 | $1.74B | 23 | +6.03% | +24.89% | -18.85% | +0.02B |
| 2024-09-30 | $1.78B | 18 | +24.46% | +36.04% | -11.57% | +0.05B |
| 2024-06-30 | $1.69B | 19 | +18.28% | +24.49% | -6.21% | -0.03B |
| 2024-03-31 | $1.81B | 75 | +31.04% | +29.62% | +1.42% | -0.09B |
| 2023-12-31 | $1.69B | 90 | +21.98% | +26.18% | -4.19% | -0.18B |
| 2023-09-30 | $1.65B | 95 | +17.83% | +21.57% | -3.74% | -0.01B |
| 2023-06-30 | $1.70B | 97 | +9.03% | +19.42% | -10.39% | +0.03B |
| 2023-03-31 | $1.59B | 113 | -9.01% | -7.82% | -1.19% | -0.06B |
| 2022-12-31 | $1.58B | 94 | +9.56% | +7.56% | +2.00% | +0.01B |
| 2022-09-30 | $1.43B | 98 | -9.68% | -4.93% | -4.75% | +0.04B |
| 2022-06-30 | $1.54B | 64 | -11.87% | -16.11% | +4.24% | -0.04B |