Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-4.13%
trims when stocks drop
when a holding falls −10%+
Middle response
-1.61%
baseline attrition
Rally response
-3.39%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| SYKStryker Corporation | $992M | 50.1% | -11.1% | 4.3 yr |
| VOOVanguard S&P 500 ETF | $135M | 6.8% | — | 4.3 yr |
| IWRiShares Russell Mid-Cap | $101M | 5.1% | — | 4.3 yr |
| SPYState Street SPDR S&P 50 | $81M | 4.1% | +17.6% | 4.3 yr |
| RSPInvesco S&P 500 Equal We | $66M | 3.3% | — | 3.3 yr |
| VEAVanguard FTSE Developed | $60M | 3.0% | — | 4.3 yr |
| IWMiShares Russell 2000 ETF | $59M | 3.0% | — | 4.3 yr |
| VTIVanguard Total Stock Mar | $43M | 2.2% | — | 4.3 yr |
| EEMiShares MSCI Emerging Ma | $34M | 1.7% | — | 2.0 yr |
| AAPLApple Inc. | $30M | 1.5% | +14.7% | 4.3 yr |
| WWDWoodward, Inc. | $21M | 1.1% | +97.0% | 3.0 yr |
| GOOGLAlphabet Inc. | $19M | 0.9% | — | 4.3 yr |
| MSFTMicrosoft Corporation | $18M | 0.9% | -0.6% | 4.3 yr |
| IJHiShares Core S&P Mid-Cap | $14M | 0.7% | — | 4.3 yr |
| JPMJPMorgan Chase & Co. | $12M | 0.6% | +21.8% | 4.3 yr |
Portfolio composition (YoY)
Industry mix
Medical - Devices50.4%-8.0pp$997M
Asset Management33.1%+6.7pp$655M
Aerospace & Defense1.6%+0.6pp$32M
Consumer Electronics1.5%+0.3pp$30M
Software - Infrastructure1.2%-0.2pp$24M
Internet Content & Information1.2%+0.5pp$23M
Semiconductors1.1%+0.4pp$21M
Drug Manufacturers - General0.9%+0.2pp$17M
Discount Stores0.7%+0.0pp$13M
Banks - Diversified0.7%+0.1pp$13M
Country
US99.6%-0.0pp
IE0.2%-0.1pp
Unknown0.1%+0.1pp
CA0.0%
CH0.0%
TW0.0%+0.0pp
BR0.0%+0.0pp
KY0.0%
Top 5: 69.4% · Top 10: 80.8% · Top 25: 89.2%
Top buys this quarter · 15
| SPY State Street SPDR S&P 500 ETF | +$51M |
| AZO AutoZone, Inc. | +$1M |
| AAPL Apple Inc. | +$30M |
| KDP Keurig Dr Pepper Inc. | +$0M |
| SNDK Sandisk Corporationnew | +$0M |
| LRCX Lam Research Corporationnew | +$0M |
| TRGP Targa Resources Corp.new | +$0M |
| MYFW First Western Financial, Inc. | +$2M |
| OKE ONEOK, Inc. | +$0M |
| DUK Duke Energy Corporation | +$0M |
Top sells this quarter · 15
| SYK Stryker Corporation | −$77M |
| ROP Roper Technologies, Inc. | −$2M |
| WWD Woodward, Inc. | −$19M |
| VENU Venu Holding Corporationexit | −$1M |
| MCD McDonald's Corporation | −$1M |
| MSFT Microsoft Corporation | −$1M |
| JNJ Johnson & Johnson | −$4M |
| LWLG Lightwave Logic, Inc. | −$1M |
| TJX The TJX Companies, Inc. | −$0M |
| ORCL Oracle Corporation | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.98B | 205 | -5.61% | +17.59% | -23.20% | +0.06B |
| 2025-12-31 | $2.03B | 197 | +2.43% | +17.72% | -15.29% | -0.07B |
| 2025-09-30 | $2.18B | 191 | +5.54% | +17.52% | -11.98% | +0.03B |
| 2025-06-30 | $2.22B | 194 | +16.73% | +14.94% | +1.79% | -0.01B |
| 2025-03-31 | $2.09B | 189 | +5.45% | +8.30% | -2.85% | -0.13B |
| 2024-12-31 | $2.17B | 196 | +19.57% | +24.89% | -5.32% | -0.05B |
| 2024-09-30 | $2.22B | 204 | +32.11% | +36.04% | -3.93% | -0.02B |
| 2024-06-30 | $2.10B | 197 | +13.11% | +24.49% | -11.38% | -0.03B |
| 2024-03-31 | $2.20B | 209 | +24.67% | +29.62% | -4.96% | -0.14B |
| 2023-12-31 | $2.01B | 201 | +21.70% | +26.18% | -4.48% | -0.04B |
| 2023-09-30 | $1.86B | 169 | +30.73% | +21.57% | +9.16% | -0.01B |
| 2023-06-30 | $2.05B | 185 | +43.48% | +19.42% | +24.06% | -0.00B |
| 2023-03-31 | $1.92B | 183 | +4.76% | -7.82% | +12.57% | -0.06B |
| 2022-12-31 | $1.74B | 181 | +18.40% | +7.56% | +10.84% | -0.02B |
| 2022-09-30 | $1.49B | 166 | +0.23% | -4.93% | +5.16% | -0.02B |
| 2022-06-30 | $1.51B | 170 | -22.10% | -16.11% | -5.99% | -0.01B |