Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-6.29%
trims when stocks drop
when a holding falls −10%+
Middle response
-1.18%
baseline attrition
Rally response
-0.81%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| BSXBoston Scientific Corpor | $1.16B | 35.5% | -37.8% | 10.5 yr |
| LLYEli Lilly and Company | $175M | 5.4% | +12.2% | 10.5 yr |
| CATCaterpillar Inc. | $162M | 5.0% | +117.8% | 10.5 yr |
| AMZNAmazon.com, Inc. | $157M | 4.8% | +9.5% | 10.5 yr |
| SCCOSouthern Copper Corporat | $148M | 4.5% | +93.0% | 0.8 yr |
| GOOGAlphabet Inc. | $123M | 3.7% | +84.3% | 0.8 yr |
| MSFTMicrosoft Corporation | $105M | 3.2% | -0.6% | 10.5 yr |
| OKEONEOK, Inc. | $65M | 2.0% | -3.8% | 9.0 yr |
| EPDEnterprise Products Part | $61M | 1.9% | +18.7% | 10.5 yr |
| ITGartner, Inc. | $58M | 1.8% | -62.3% | 10.5 yr |
| AEPAmerican Electric Power | $55M | 1.7% | +24.0% | 10.5 yr |
| JPMJPMorgan Chase & Co. | $43M | 1.3% | +21.8% | 0.8 yr |
| MSMorgan Stanley | $41M | 1.2% | +44.8% | 10.5 yr |
| WMTWalmart Inc. | $41M | 1.2% | +42.8% | 10.5 yr |
| MSGSMadison Square Garden Sp | $39M | 1.2% | +65.1% | 0.8 yr |
Portfolio composition (YoY)
Industry mix
Medical - Devices35.8%-18.8pp$1.17B
Oil & Gas Midstream7.2%+3.2pp$236M
Drug Manufacturers - General6.6%+0.8pp$215M
Agricultural - Machinery5.8%+3.4pp$190M
Regulated Electric5.3%+1.8pp$173M
Specialty Retail4.9%+1.2pp$161M
Copper4.5%$148M
Internet Content & Information4.5%$147M
Software - Infrastructure3.3%+0.6pp$109M
Consulting Services1.8%-2.2pp$58M
Country
US98.1%+10.9pp
CA0.8%+0.6pp
GB0.8%+0.3pp
Unknown0.2%-12.0pp
IE0.1%
AU0.0%-0.0pp
CH0.0%
TW0.0%
Top 5: 55.2% · Top 10: 67.7% · Top 25: 82.7%
Top buys this quarter · 15
| CAT Caterpillar Inc. | +$20M |
| SCCO Southern Copper Corporation | +$18M |
| IT Gartner, Inc. | +$58M |
| OKE ONEOK, Inc. | +$9M |
| JPM JPMorgan Chase & Co. | +$6M |
| WMT Walmart Inc. | +$5M |
| MS Morgan Stanley | +$5M |
| AEP American Electric Power Compan | +$4M |
| MPLX MPLX Lp | +$3M |
| ET Energy Transfer LP | +$3M |
Top sells this quarter · 15
| BSX Boston Scientific Corporation | −$29M |
| LLY Eli Lilly and Company | −$7M |
| CARG CarGurus, Inc. | −$5M |
| MSFT Microsoft Corporation | −$2M |
| ACRS Aclaris Therapeutics, Inc. | −$1M |
| DUK Duke Energy Corporation | −$22M |
| PEG Public Service Enterprise Grou | −$1M |
| BMY Bristol-Myers Squibb Company | −$7M |
| JCI Johnson Controls International | −$1M |
| RYN Rayonier Inc. | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $3.27B | 299 | -13.38% | +17.59% | -30.97% | +0.08B |
| 2025-12-31 | $3.81B | 282 | +10.39% | +17.72% | -7.32% | -0.35B |
| 2025-09-30 | $4.04B | 263 | +10.36% | +17.52% | -7.16% | +0.00B |
| 2025-06-30 | $4.22B | 287 | +23.95% | +14.94% | +9.01% | +0.23B |
| 2025-03-31 | $3.81B | 275 | +27.70% | +8.30% | +19.40% | -0.05B |
| 2024-12-31 | $3.61B | 278 | +38.63% | +24.89% | +13.74% | -0.26B |
| 2024-09-30 | $3.76B | 295 | +49.24% | +36.04% | +13.20% | -0.05B |
| 2024-06-30 | $3.54B | 294 | +36.55% | +24.49% | +12.06% | -0.02B |
| 2024-03-31 | $3.31B | 296 | +37.04% | +29.62% | +7.42% | -0.04B |
| 2023-12-31 | $2.88B | 300 | +23.92% | +26.18% | -2.25% | -0.14B |
| 2023-09-30 | $2.72B | 355 | +29.38% | +21.57% | +7.81% | -0.18B |
| 2023-06-30 | $2.94B | 653 | +33.01% | +19.42% | +13.58% | -0.05B |
| 2023-03-31 | $2.77B | 281 | +5.68% | -7.82% | +13.50% | +0.02B |
| 2022-12-31 | $2.62B | 276 | +15.68% | +7.56% | +8.12% | -0.14B |
| 2022-09-30 | $2.38B | 280 | +1.15% | -4.93% | +6.08% | -0.12B |
| 2022-06-30 | $2.47B | 286 | -14.05% | -16.11% | +2.06% | -0.22B |