Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+13.61%
adds when stocks drop
when a holding falls −10%+
Middle response
-0.54%
baseline attrition
Rally response
-8.27%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| BABAAlibaba Group Holding Li | $271M | 19.8% | -3.5% | 5.0 yr |
| DJCODaily Journal Corporatio | $174M | 12.7% | +21.3% | 10.5 yr |
| WFCWells Fargo & Company | $137M | 10.0% | +13.3% | 6.0 yr |
| WHRWhirlpool Corporation | $131M | 9.5% | -36.7% | 2.0 yr |
| BRK-BBerkshire Hathaway Inc. | $117M | 8.5% | — | 10.5 yr |
| FOXFFox Factory Holding Corp | $91M | 6.6% | -29.5% | 2.5 yr |
| CRICarter's, Inc. | $84M | 6.1% | -9.6% | 2.0 yr |
| SGOViShares 0-3 Month Treasu | $73M | 5.3% | — | 0.5 yr |
| KHCThe Kraft Heinz Company | $72M | 5.3% | -21.4% | 7.3 yr |
| XOMExxon Mobil Corporation | $55M | 4.0% | +47.6% | 8.3 yr |
| PIIPolaris Inc. | $48M | 3.5% | +40.0% | 2.5 yr |
| MSFTMicrosoft Corporation | $34M | 2.4% | -0.6% | 10.5 yr |
| HELEHelen of Troy Limited | $17M | 1.2% | -73.0% | 1.0 yr |
| ADBEAdobe Inc. | $12M | 0.9% | -36.6% | 0.3 yr |
| HRBH&R Block, Inc. | $11M | 0.8% | -40.0% | 0.3 yr |
Portfolio composition (YoY)
Industry mix
Specialty Retail19.8%-7.8pp$271M
Software - Application13.6%+3.2pp$186M
Banks - Diversified10.0%-0.6pp$137M
Furnishings, Fixtures & Appliances9.5%+7.3pp$131M
Insurance - Diversified8.5%-2.1pp$117M
Apparel - Retail7.0%-0.3pp$95M
Auto - Parts6.6%-0.1pp$91M
Asset Management - Bonds5.3%$73M
Packaged Foods5.3%+2.0pp$72M
Oil & Gas Integrated4.0%-4.1pp$55M
Country
US79.3%+6.9pp
CN19.8%-7.8pp
CA0.8%
IE0.1%
Top 5: 60.6% · Top 10: 87.9% · Top 25: 99.7%
Top buys this quarter · 10
| WHR Whirlpool Corporation | +$86M |
| KHC The Kraft Heinz Company | +$16M |
| ADBE Adobe Inc.new | +$12M |
| HRB H&R Block, Inc.new | +$11M |
| LULU Lululemon Athletica Inc.new | +$11M |
| HELE Helen of Troy Limited | +$8M |
| FOXF Fox Factory Holding Corp. | +$4M |
| ORCL Oracle Corporation | +$0M |
| SBUX Starbucks Corporation | +$0M |
| BRK-B Berkshire Hathaway Inc. | +$117M |
Top sells this quarter · 15
| CRI Carter's, Inc. | −$78M |
| BABA Alibaba Group Holding Limited | −$27M |
| XOM Exxon Mobil Corporation | −$48M |
| WFC Wells Fargo & Company | −$4M |
| DJCO Daily Journal Corporation | −$4M |
| PII Polaris Inc. | −$2M |
| IBM International Business Machine | −$1M |
| MSFT Microsoft Corporation | −$1M |
| WNC Wabash National Corporation | −$1M |
| NVDA NVIDIA Corporation | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.37B | 34 | +4.50% | +17.59% | -13.09% | +0.02B |
| 2025-12-31 | $1.46B | 34 | +17.49% | +17.72% | -0.23% | +0.10B |
| 2025-09-30 | $1.40B | 33 | +16.94% | +17.52% | -0.57% | -0.06B |
| 2025-06-30 | $1.21B | 22 | +13.54% | +14.94% | -1.40% | +0.01B |
| 2025-03-31 | $1.24B | 19 | +16.79% | +8.30% | +8.48% | +0.10B |
| 2024-12-31 | $1.09B | 21 | +17.25% | +24.89% | -7.63% | +0.05B |
| 2024-09-30 | $1.08B | 21 | +24.97% | +36.04% | -11.07% | +0.00B |
| 2024-06-30 | $921M | 20 | +10.73% | +24.49% | -13.76% | -0.00B |
| 2024-03-31 | $927M | 18 | +6.87% | +29.62% | -22.76% | +0.03B |
| 2023-12-31 | $862M | 17 | +10.45% | +26.18% | -15.73% | +0.10B |
| 2023-09-30 | $746M | 16 | +23.02% | +21.57% | +1.46% | -0.06B |
| 2023-06-30 | $777M | 16 | +5.75% | +19.42% | -13.67% | +0.03B |
| 2023-03-31 | $772M | 14 | +8.44% | -7.82% | +16.25% | -0.05B |
| 2022-12-31 | $761M | 14 | +14.04% | +7.56% | +6.48% | -0.04B |
| 2022-09-30 | $699M | 14 | -10.69% | -4.93% | -5.76% | +0.03B |
| 2022-06-30 | $751M | 14 | -1.35% | -16.11% | +14.76% | -0.13B |