Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+8.38%
adds when stocks drop
when a holding falls −10%+
Middle response
+1.37%
steady accumulation
Rally response
-2.29%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| GBILGoldman Sachs Access Tre | $1.12B | 16.7% | — | 8.8 yr |
| CVXChevron Corporation | $569M | 8.5% | +29.2% | 6.3 yr |
| JNJJohnson & Johnson | $527M | 7.9% | +51.5% | 10.5 yr |
| ARWArrow Electronics, Inc. | $513M | 7.7% | +38.1% | 2.0 yr |
| VODVodafone Group Public Li | $403M | 6.0% | +67.6% | 8.5 yr |
| CCitigroup Inc. | $402M | 6.0% | +63.9% | 7.5 yr |
| FDXFedEx Corporation | $400M | 6.0% | +49.3% | 4.0 yr |
| THOThor Industries, Inc. | $392M | 5.8% | +7.8% | 3.5 yr |
| LENLennar Corporation | $366M | 5.5% | -23.0% | 4.0 yr |
| MSFTMicrosoft Corporation | $363M | 5.4% | -0.6% | 10.5 yr |
| GMGeneral Motors Company | $300M | 4.5% | +60.0% | 6.3 yr |
| JPMJPMorgan Chase & Co. | $288M | 4.3% | +21.8% | 10.5 yr |
| — | $286M | 4.3% | — | 2.5 yr |
| MGAMagna International Inc. | $271M | 4.0% | +71.2% | 7.5 yr |
| DGDollar General Corporati | $133M | 2.0% | +37.3% | 1.8 yr |
Portfolio composition (YoY)
Industry mix
Asset Management16.7%+7.9pp$1.12B
Banks - Diversified10.4%-3.3pp$699M
Oil & Gas Integrated8.5%+0.8pp$569M
Drug Manufacturers - General7.9%+0.2pp$532M
Technology Distributors7.7%+7.5pp$513M
Telecommunications Services6.1%+0.9pp$407M
Integrated Freight & Logistics6.0%-2.1pp$400M
Auto - Recreational Vehicles5.8%+0.3pp$392M
Residential Construction5.5%-1.0pp$369M
Unknown5.5%-1.2pp$367M
Country
US84.3%+0.6pp
GB6.2%+0.9pp
Unknown5.5%-1.2pp
CA4.0%-0.2pp
BM0.1%-0.0pp
Top 5: 46.7% · Top 10: 75.4% · Top 25: 99.6%
Top buys this quarter · 15
| MSFT Microsoft Corporation | +$106M |
| LEN Lennar Corporation | +$87M |
| THO Thor Industries, Inc. | +$392M |
| ARW Arrow Electronics, Inc. | +$19M |
| VOD Vodafone Group Public Limited | +$12M |
| CVX Chevron Corporation | +$8M |
| DHIL Diamond Hill Investment Group,new | +$4M |
| DELL Dell Technologies Inc. | +$2M |
| SATS EchoStar Corporationnew | +$1M |
| JEF Jefferies Financial Group Inc. | +$5M |
Top sells this quarter · 11
| FDX FedEx Corporation | −$220M |
| DG Dollar General Corporation | −$178M |
| MGA Magna International Inc. | −$65M |
| GM General Motors Company | −$49M |
| JNJ Johnson & Johnson | −$463M |
| C Citigroup Inc. | −$5M |
| KW Kennedy-Wilson Holdings, Inc. | −$1M |
| BRK-B Berkshire Hathaway Inc. | −$0M |
| LILAK Liberty Latin America Ltd. | −$3M |
| RPV Invesco S&P 500 Pure Value ETFexit | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $6.70B | 36 | +38.36% | +17.59% | +20.77% | +0.01B |
| 2025-12-31 | $6.41B | 34 | +30.76% | +17.72% | +13.04% | +0.02B |
| 2025-09-30 | $5.85B | 35 | +20.15% | +17.52% | +2.63% | -0.34B |
| 2025-06-30 | $5.59B | 36 | +12.50% | +14.94% | -2.44% | +0.34B |
| 2025-03-31 | $4.78B | 41 | -0.61% | +8.30% | -8.91% | +0.23B |
| 2024-12-31 | $4.62B | 38 | +12.63% | +24.89% | -12.26% | +1.22B |
| 2024-09-30 | $3.39B | 37 | +25.79% | +36.04% | -10.25% | +0.03B |
| 2024-06-30 | $3.24B | 35 | +16.51% | +24.49% | -7.99% | +0.05B |
| 2024-03-31 | $3.29B | 38 | +31.34% | +29.62% | +1.72% | -0.01B |
| 2023-12-31 | $2.96B | 38 | +24.95% | +26.18% | -1.23% | +0.08B |
| 2023-09-30 | $2.57B | 38 | +23.03% | +21.57% | +1.46% | +0.02B |
| 2023-06-30 | $2.65B | 38 | +13.11% | +19.42% | -6.31% | -0.03B |
| 2023-03-31 | $2.45B | 38 | -8.01% | -7.82% | -0.19% | +0.09B |
| 2022-12-31 | $2.22B | 40 | +10.39% | +7.56% | +2.83% | -0.00B |
| 2022-09-30 | $2.01B | 40 | -11.65% | -4.93% | -6.72% | +0.07B |
| 2022-06-30 | $2.20B | 40 | -11.18% | -16.11% | +4.93% | +0.41B |