Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+3.32%
adds when stocks drop
when a holding falls −10%+
Middle response
-6.46%
baseline attrition
Rally response
-5.78%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| SNXTD SYNNEX Corporation | $515M | 12.8% | +64.5% | 2.3 yr |
| OMFOneMain Holdings, Inc. | $412M | 10.2% | +18.1% | 4.0 yr |
| ICLRICON Public Limited Comp | $332M | 8.2% | -36.8% | 1.8 yr |
| ANTMElevance Health Inc. | $329M | 8.1% | — | 6.8 yr |
| ANAutoNation, Inc. | $302M | 7.5% | +20.6% | 3.5 yr |
| SLMSLM Corporation | $291M | 7.2% | -25.7% | 1.3 yr |
| MRPMillrose Properties, Inc | $238M | 5.9% | +12.1% | 1.3 yr |
| PRIPrimerica, Inc. | $220M | 5.5% | -10.5% | 5.0 yr |
| LENLennar Corporation | $209M | 5.2% | -23.0% | 6.3 yr |
| BLDRBuilders FirstSource, In | $195M | 4.8% | -34.1% | 1.3 yr |
| MPLXMPLX Lp | $186M | 4.6% | +15.4% | 3.0 yr |
| COFCapital One Financial Co | $183M | 4.5% | +3.1% | 1.5 yr |
| RYAAYRyanair Holdings plc | $176M | 4.3% | — | 3.5 yr |
| FNFFidelity National Financ | $162M | 4.0% | -26.0% | 4.3 yr |
| FGF&G Annuities & Life, In | $136M | 3.4% | -27.5% | 3.5 yr |
Portfolio composition (YoY)
Industry mix
Financial - Credit Services22.0%-1.5pp$888M
Technology Distributors12.8%+3.0pp$515M
Insurance - Life8.8%-1.0pp$356M
Medical - Diagnostics & Research8.2%+8.2pp$332M
Medical - Healthcare Plans8.1%-7.6pp$329M
Residential Construction7.5%-1.6pp$304M
Auto - Dealerships7.5%+0.7pp$302M
REIT - Residential5.9%+1.1pp$238M
Oil & Gas Midstream5.6%-0.5pp$228M
Construction4.8%+1.3pp$195M
Country
US87.4%-7.2pp
IE12.6%+7.2pp
Top 5: 46.8% · Top 10: 75.3% · Top 25: 99.9%
Top buys this quarter · 9
| ICLR ICON Public Limited Company | +$331M |
| PRI Primerica, Inc. | +$25M |
| SLM SLM Corporation | +$291M |
| SUNB Sunbelt Rentals Holdings Incnew | +$2M |
| MSFT Microsoft Corporation | +$1M |
| ARES Ares Management Corporationnew | +$1M |
| ET Energy Transfer LPnew | +$0M |
| META Meta Platforms, Inc. | +$0M |
| PGR The Progressive Corporation | +$0M |
Top sells this quarter · 15
| APO Apollo Global Management, Inc. | −$253M |
| MPLX MPLX Lp | −$70M |
| SNX TD SYNNEX Corporation | −$475M |
| MRP Millrose Properties, Inc. | −$2M |
| OMF OneMain Holdings, Inc. | −$2M |
| HCA HCA Healthcare, Inc. | −$1M |
| DHI D.R. Horton, Inc. | −$1M |
| AN AutoNation, Inc. | −$1M |
| COF Capital One Financial Corporat | −$1M |
| FNF Fidelity National Financial, I | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $4.04B | 36 | +2.36% | +17.59% | -15.23% | +0.16B |
| 2025-12-31 | $4.27B | 33 | +8.72% | +17.72% | -9.00% | +0.05B |
| 2025-09-30 | $4.31B | 33 | +9.50% | +17.52% | -8.02% | -0.34B |
| 2025-06-30 | $4.36B | 35 | +16.78% | +14.94% | +1.84% | -0.35B |
| 2025-03-31 | $4.37B | 35 | +4.27% | +8.30% | -4.03% | +0.48B |
| 2024-12-31 | $4.02B | 30 | +17.78% | +24.89% | -7.11% | -0.73B |
| 2024-09-30 | $4.82B | 32 | +40.53% | +36.04% | +4.49% | -0.31B |
| 2024-06-30 | $4.51B | 27 | +27.92% | +24.49% | +3.43% | -0.09B |
| 2024-03-31 | $4.78B | 29 | +57.37% | +29.62% | +27.74% | +0.21B |
| 2023-12-31 | $4.19B | 30 | +50.80% | +26.18% | +24.62% | -0.52B |
| 2023-09-30 | $4.01B | 34 | +52.42% | +21.57% | +30.85% | +0.09B |
| 2023-06-30 | $3.78B | 32 | +42.47% | +19.42% | +23.04% | -0.05B |
| 2023-03-31 | $3.23B | 28 | +0.88% | -7.82% | +8.70% | -0.09B |
| 2022-12-31 | $3.17B | 26 | +18.85% | +7.56% | +11.29% | -0.26B |
| 2022-09-30 | $2.89B | 25 | -3.30% | -4.93% | +1.63% | +0.08B |
| 2022-06-30 | $2.91B | 23 | -16.06% | -16.11% | +0.05% | +0.07B |