Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-6.47%
trims when stocks drop
when a holding falls −10%+
Middle response
-3.57%
baseline attrition
Rally response
-4.63%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| MSFTMicrosoft Corporation | $46M | 6.9% | -0.6% | 10.5 yr |
| GOOGAlphabet Inc. | $36M | 5.4% | +84.3% | 10.0 yr |
| AAPLApple Inc. | $27M | 4.1% | +14.7% | 10.5 yr |
| GOOGLAlphabet Inc. | $25M | 3.8% | — | 10.5 yr |
| AMZNAmazon.com, Inc. | $23M | 3.4% | +9.5% | 10.5 yr |
| BEBloom Energy Corporation | $22M | 3.2% | +589.2% | 5.3 yr |
| JPMJPMorgan Chase & Co. | $21M | 3.2% | +21.8% | 10.5 yr |
| XOMExxon Mobil Corporation | $18M | 2.7% | +47.6% | 10.5 yr |
| MAMastercard Incorporated | $16M | 2.4% | -8.5% | 9.3 yr |
| AXPAmerican Express Company | $15M | 2.3% | +13.3% | 10.3 yr |
| QXOQXO, Inc. | $13M | 1.9% | +43.4% | 1.8 yr |
| BXBlackstone Inc. | $13M | 1.9% | -14.9% | 6.8 yr |
| MKSIMKS Inc. | $12M | 1.8% | +188.8% | 1.0 yr |
| BAThe Boeing Company | $12M | 1.7% | +16.7% | 10.5 yr |
| PWRQuanta Services, Inc. | $11M | 1.7% | +116.2% | 9.8 yr |
Portfolio composition (YoY)
Industry mix
Asset Management13.5%-3.1pp$90M
Internet Content & Information10.2%+3.1pp$68M
Software - Infrastructure8.9%-1.6pp$60M
Financial - Credit Services6.4%-0.2pp$42M
Semiconductors6.3%+2.5pp$42M
Consumer Electronics4.1%-1.1pp$27M
Aerospace & Defense4.0%+0.3pp$27M
Oil & Gas Integrated3.5%-0.3pp$23M
Specialty Retail3.4%+0.1pp$23M
Banks - Diversified3.3%+0.1pp$22M
Country
US94.8%-0.8pp
TW1.5%+1.4pp
GB1.2%-0.2pp
CA1.0%+0.2pp
IE0.6%-0.6pp
NL0.4%+0.1pp
BR0.3%-0.1pp
IL0.2%+0.1pp
Top 5: 23.6% · Top 10: 37.4% · Top 25: 59.2%
Top buys this quarter · 15
| MSFT Microsoft Corporation | +$46M |
| FLO Flowers Foods, Inc. | +$4M |
| AXP American Express Company | +$3M |
| QXO QXO, Inc. | +$3M |
| NSC Norfolk Southern Corporationnew | +$2M |
| COF Capital One Financial Corporat | +$2M |
| BA The Boeing Company | +$1M |
| ESI Element Solutions Incnew | +$1M |
| AMZN Amazon.com, Inc. | +$23M |
| TSM Taiwan Semiconductor Manufactu | +$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $666M | 325 | +23.26% | +17.59% | +5.67% | +0.00B |
| 2025-12-31 | $686M | 316 | +18.09% | +17.72% | +0.37% | -0.00B |
| 2025-09-30 | $659M | 335 | +16.04% | +17.52% | -1.48% | +0.01B |
| 2025-06-30 | $591M | 322 | +11.17% | +14.94% | -3.77% | -0.02B |
| 2025-03-31 | $551M | 313 | +1.95% | +8.30% | -6.35% | +0.07B |
| 2024-12-31 | $523M | 285 | +17.80% | +24.89% | -7.09% | -0.07B |
| 2024-09-30 | $575M | 313 | +24.80% | +36.04% | -11.24% | -0.00B |
| 2024-06-30 | $549M | 307 | +10.87% | +24.49% | -13.62% | +0.01B |
| 2024-03-31 | $530M | 304 | +11.01% | +29.62% | -18.61% | -0.33B |
| 2023-12-31 | $802M | 299 | +6.32% | +26.18% | -19.86% | -0.02B |
| 2023-09-30 | $758M | 304 | +0.74% | +21.57% | -20.83% | -0.01B |
| 2023-06-30 | $819M | 312 | +1.60% | +19.42% | -17.83% | +0.01B |
| 2023-03-31 | $796M | 311 | -10.45% | -7.82% | -2.63% | -0.02B |
| 2022-12-31 | $789M | 303 | -17.00% | -18.17% | +1.17% | +0.39B |
| 2022-09-30 | $390M | 294 | -10.57% | -15.51% | +4.94% | -0.32B |
| 2022-06-30 | $757M | 290 | -4.43% | -10.62% | +6.19% | -0.01B |