Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+0.04%
adds when stocks drop
when a holding falls −10%+
Middle response
-8.60%
baseline attrition
Rally response
-14.31%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| AMZNAmazon.com, Inc. | $468M | 6.1% | +9.5% | 7.3 yr |
| MSFTMicrosoft Corporation | $440M | 5.7% | -0.6% | 10.3 yr |
| ESEversource Energy | $428M | 5.6% | +16.7% | 9.5 yr |
| TSMTaiwan Semiconductor Man | $398M | 5.2% | +105.6% | 5.5 yr |
| MAMastercard Incorporated | $292M | 3.8% | -8.5% | 10.3 yr |
| METAMeta Platforms, Inc. | $290M | 3.8% | -0.4% | 9.3 yr |
| AMTAmerican Tower Corporati | $259M | 3.4% | -17.9% | 10.3 yr |
| CCICrown Castle Inc. | $232M | 3.0% | -18.3% | 8.5 yr |
| SRESempra | $219M | 2.8% | +40.3% | 10.3 yr |
| YUMYum! Brands, Inc. | $213M | 2.8% | +0.7% | 10.3 yr |
| VVisa Inc. | $201M | 2.6% | -13.1% | 10.3 yr |
| UNHUnitedHealth Group Incor | $195M | 2.5% | -46.9% | 3.5 yr |
| GOOGLAlphabet Inc. | $195M | 2.5% | — | 10.3 yr |
| PGThe Procter & Gamble Com | $188M | 2.4% | -12.9% | 6.3 yr |
| ICEIntercontinental Exchang | $187M | 2.4% | -7.8% | 8.8 yr |
Portfolio composition (YoY)
Industry mix
Regulated Electric25.8%+9.9pp$1.99B
Internet Content & Information7.8%-0.9pp$602M
REIT - Specialty6.6%+2.1pp$511M
Financial - Data & Stock Exchanges6.5%+3.3pp$501M
Financial - Credit Services6.4%-2.1pp$493M
Specialty Retail6.1%-1.5pp$468M
Software - Infrastructure5.7%-1.9pp$440M
Semiconductors5.2%+1.5pp$398M
Restaurants4.4%-1.8pp$337M
Medical - Devices3.6%+0.5pp$275M
Country
US93.2%-0.7pp
TW5.2%+1.5pp
IE1.6%
Top 5: 26.3% · Top 10: 42.1% · Top 25: 75.3%
Top buys this quarter · 15
| CMS CMS Energy Corporation | +$137M |
| CCI Crown Castle Inc. | +$87M |
| AMT American Tower Corporation | +$74M |
| SPGI S&P Global Inc. | +$30M |
| INTU Intuit Inc. | +$157M |
| META Meta Platforms, Inc. | +$290M |
| XEL Xcel Energy Inc. | +$16M |
| EXC Exelon Corporation | +$11M |
| ETR Entergy Corporation | +$11M |
| SO The Southern Company | +$9M |
Top sells this quarter · 15
| AMZN Amazon.com, Inc. | −$110M |
| CME CME Group Inc. | −$96M |
| YUM Yum! Brands, Inc. | −$96M |
| TSM Taiwan Semiconductor Manufactu | −$75M |
| CSX CSX Corporation | −$56M |
| ES Eversource Energy | −$56M |
| USB U.S. Bancorpexit | −$55M |
| PG The Procter & Gamble Company | −$49M |
| KO The Coca-Cola Company | −$40M |
| MSFT Microsoft Corporation | −$27M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $7.71B | 79 | +5.96% | +17.59% | -11.63% | -0.20B |
| 2025-12-31 | $8.23B | 80 | +10.20% | +17.72% | -7.52% | -0.15B |
| 2025-09-30 | $8.44B | 82 | +9.15% | +17.52% | -8.37% | -0.56B |
| 2025-06-30 | $8.75B | 84 | +15.26% | +14.94% | +0.32% | -0.14B |
| 2025-03-31 | $8.22B | 87 | +8.39% | +8.30% | +0.08% | -0.87B |
| 2024-12-31 | $9.10B | 87 | +16.56% | +24.89% | -8.33% | -0.76B |
| 2024-09-30 | $10.04B | 117 | +34.54% | +36.04% | -1.50% | -1.37B |
| 2024-06-30 | $10.50B | 154 | +16.91% | +24.49% | -7.58% | -0.13B |
| 2024-03-31 | $10.47B | 155 | +22.13% | +29.62% | -7.50% | -0.32B |
| 2023-12-31 | $10.04B | 154 | +19.54% | +26.18% | -6.64% | -0.63B |
| 2023-09-30 | $9.41B | 156 | +13.46% | +21.57% | -8.11% | -1.20B |
| 2023-06-30 | $11.24B | 157 | +11.44% | +19.42% | -7.99% | -1.19B |
| 2023-03-31 | $11.71B | 157 | -6.56% | -7.82% | +1.26% | -0.59B |
| 2022-12-31 | $11.69B | 118 | +7.59% | +7.56% | +0.03% | -3.71B |
| 2022-09-30 | $14.31B | 121 | -7.26% | -4.93% | -2.33% | -2.68B |
| 2022-06-30 | $18.32B | 121 | -11.02% | -16.11% | +5.09% | -4.66B |