Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-0.42%
trims when stocks drop
when a holding falls −10%+
Middle response
-4.94%
baseline attrition
Rally response
-4.86%
trims into rallies
when a holding rises +10%+
Top positions · 29
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| UTHRUnited Therapeutics Corp | $25M | 8.4% | +92.4% | 1.8 yr |
| DVNDevon Energy Corporation | $23M | 7.6% | +38.1% | 5.8 yr |
| CBChubb Limited | $17M | 5.7% | +9.3% | 10.0 yr |
| RNRRenaissanceRe Holdings L | $17M | 5.7% | +24.6% | 11.0 yr |
| AMGNAmgen Inc. | $17M | 5.7% | +16.5% | 3.0 yr |
| RLIRLI Corp. | $16M | 5.4% | -26.0% | 2.5 yr |
| BMYBristol-Myers Squibb Com | $16M | 5.3% | +3.4% | 5.8 yr |
| AMDAdvanced Micro Devices, | $16M | 5.3% | +98.0% | 7.3 yr |
| EOGEOG Resources, Inc. | $14M | 4.8% | +16.9% | 0.3 yr |
| VVisa Inc. | $14M | 4.5% | -13.1% | 10.5 yr |
| MAMastercard Incorporated | $13M | 4.5% | -8.5% | 10.3 yr |
| SHOPShopify Inc. | $12M | 4.1% | +24.2% | 4.3 yr |
| AIGAmerican International G | $12M | 3.9% | -11.5% | 11.0 yr |
| CICigna Corporation | $11M | 3.5% | -17.2% | 5.0 yr |
| UBERUber Technologies, Inc. | $10M | 3.4% | -1.3% | 1.3 yr |
Portfolio composition (YoY)
Industry mix
Oil & Gas Exploration & Production12.4%+6.5pp$37M
Insurance - Property & Casualty11.1%+0.2pp$33M
Drug Manufacturers - General11.0%+2.3pp$33M
Software - Application10.3%-2.2pp$31M
Financial - Credit Services9.0%-1.8pp$27M
Biotechnology8.4%+3.9pp$25M
Computer Hardware6.0%-0.9pp$18M
Insurance - Reinsurance5.7%+0.9pp$17M
Semiconductors5.3%-1.1pp$16M
Insurance - Diversified3.9%-0.2pp$12M
Country
US78.6%-0.9pp
CH5.7%+0.1pp
BM5.7%+0.9pp
CA4.1%-0.1pp
BR3.3%
IE2.6%
Top 5: 33.1% · Top 10: 58.4% · Top 25: 98.6%
Top buys this quarter · 5
| EOG EOG Resources, Inc.new | +$14M |
| SHOP Shopify Inc. | +$12M |
| MDT Medtronic plc | +$8M |
| SNOW Snowflake Inc. | +$8M |
| JPST JPMorgan Ultra-Short Income ET | +$0M |
Top sells this quarter · 15
| CAVA CAVA Group, Inc.exit | −$14M |
| PBR Petróleo Brasileiro S.A. - Pe | −$14M |
| COIN Coinbase Global, Inc.exit | −$7M |
| UTHR United Therapeutics Corporatio | −$21M |
| CI Cigna Corporation | −$1M |
| AMGN Amgen Inc. | −$16M |
| DVN Devon Energy Corporation | −$17M |
| BMY Bristol-Myers Squibb Company | −$15M |
| RNR RenaissanceRe Holdings Ltd. | −$16M |
| CB Chubb Limited | −$17M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $299M | 29 | +18.81% | +17.59% | +1.22% | -0.02B |
| 2025-12-31 | $315M | 29 | +14.96% | +17.72% | -2.76% | +0.01B |
| 2025-09-30 | $307M | 29 | +8.02% | +17.52% | -9.50% | -0.08B |
| 2025-06-30 | $359M | 29 | +6.66% | +14.94% | -8.28% | -0.08B |
| 2025-03-31 | $405M | 29 | -2.94% | +8.30% | -11.24% | +0.08B |
| 2024-12-31 | $331M | 22 | +6.94% | +24.89% | -17.94% | -0.07B |
| 2024-09-30 | $422M | 29 | +28.12% | +36.04% | -7.92% | +0.03B |
| 2024-06-30 | $371M | 28 | +19.23% | +24.49% | -5.27% | +0.01B |
| 2024-03-31 | $370M | 28 | +27.72% | +29.62% | -1.90% | -0.01B |
| 2023-12-31 | $351M | 28 | +21.56% | +26.18% | -4.62% | -0.02B |
| 2023-09-30 | $326M | 28 | +20.91% | +21.57% | -0.65% | +0.01B |
| 2023-06-30 | $325M | 30 | +18.01% | +19.42% | -1.42% | +0.01B |
| 2023-03-31 | $301M | 29 | +2.64% | -7.82% | +10.46% | -0.01B |
| 2022-12-31 | $299M | 30 | +13.03% | +7.56% | +5.47% | -0.01B |
| 2022-09-30 | $277M | 30 | -4.39% | -4.93% | +0.53% | -0.00B |
| 2022-06-30 | $293M | 30 | -8.39% | -16.11% | +7.72% | -0.01B |