Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+8.95%
adds when stocks drop
when a holding falls −10%+
Middle response
-1.05%
baseline attrition
Rally response
-28.95%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| SPYState Street SPDR S&P 50 | $27M | 20.7% | +17.6% | 4.3 yr |
| EXEExpand Energy Corporatio | $8M | 5.8% | +1.7% | 0.8 yr |
| — | $7M | 5.7% | — | 0.3 yr |
| RSPInvesco S&P 500 Equal We | $7M | 5.0% | — | 2.3 yr |
| ALKAlaska Air Group, Inc. | $6M | 4.9% | -25.3% | 2.8 yr |
| HBANHuntington Bancshares In | $6M | 4.8% | +8.2% | 1.0 yr |
| WALWestern Alliance Bancorp | $6M | 4.6% | -6.0% | 2.3 yr |
| BACBank of America Corporat | $5M | 3.6% | +19.4% | 2.0 yr |
| BANCBanc of California, Inc. | $4M | 3.4% | +27.0% | 3.0 yr |
| UBERUber Technologies, Inc. | $4M | 2.9% | -1.3% | 1.0 yr |
| MSFTMicrosoft Corporation | $3M | 2.0% | -0.6% | 0.3 yr |
| EWUiShares MSCI United King | $3M | 2.0% | — | 3.0 yr |
| COFCapital One Financial Co | $2M | 1.8% | +3.1% | 0.3 yr |
| EWYiShares MSCI South Korea | $2M | 1.7% | — | 2.8 yr |
| SYFSynchrony Financial | $2M | 1.6% | +30.8% | 1.0 yr |
Portfolio composition (YoY)
Industry mix
Asset Management43.4%+4.2pp$57M
Banks - Regional15.1%-14.8pp$20M
Unknown7.3%+6.5pp$9M
Oil & Gas Exploration & Production5.8%+1.1pp$8M
Airlines, Airports & Air Services4.9%+0.2pp$6M
Banks - Diversified4.5%+1.9pp$6M
Software - Application3.8%+3.6pp$5M
Financial - Credit Services3.5%+1.0pp$4M
Software - Infrastructure3.2%$4M
Internet Content & Information1.7%-0.0pp$2M
Country
US90.7%-3.4pp
Unknown7.3%+6.5pp
KR1.0%
CA0.7%-1.5pp
BR0.1%+0.0pp
GG0.1%-1.8pp
Top 5: 42.0% · Top 10: 61.3% · Top 25: 82.1%
Top buys this quarter · 15
| SPY State Street SPDR S&P 500 ETF | +$8M |
| ALK Alaska Air Group, Inc. | +$4M |
| EXE Expand Energy Corporation | +$4M |
| BAC Bank of America Corporation | +$3M |
| MSFT Microsoft Corporationnew | +$3M |
| COF Capital One Financial Corporatnew | +$2M |
| SYF Synchrony Financial | +$2M |
| ORCL Oracle Corporationnew | +$2M |
| BANC Banc of California, Inc. | +$1M |
| AVGO Broadcom Inc.new | +$1M |
Top sells this quarter · 15
| WFC Wells Fargo & Company | −$12M |
| PNFP Pinnacle Financial Partners, Iexit | −$7M |
| EQT EQT Corporationexit | −$6M |
| ODV Osisko Development Corp.exit | −$5M |
| OZK Bank OZKexit | −$4M |
| EOG EOG Resources, Inc.exit | −$4M |
| MBIN Merchants Bancorpexit | −$4M |
| META Meta Platforms, Inc. | −$2M |
| WAL Western Alliance Bancorporatio | −$2M |
| GOOG Alphabet Inc.exit | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $130M | 80 | +16.05% | +17.59% | -1.54% | -0.00B |
| 2025-12-31 | $134M | 81 | +13.20% | +17.72% | -4.52% | -0.01B |
| 2025-09-30 | $138M | 76 | +16.68% | +17.52% | -0.84% | -0.02B |
| 2025-06-30 | $145M | 86 | +16.41% | +14.94% | +1.47% | +0.01B |
| 2025-03-31 | $127M | 82 | +4.92% | +8.30% | -3.38% | +0.00B |
| 2024-12-31 | $131M | 81 | +15.95% | +24.89% | -8.93% | -0.01B |
| 2024-09-30 | $133M | 82 | +24.44% | +36.04% | -11.59% | -0.01B |
| 2024-06-30 | $136M | 86 | +15.18% | +24.49% | -9.31% | -0.01B |
| 2024-03-31 | $150M | 100 | +25.31% | +29.62% | -4.32% | +0.04B |
| 2023-12-31 | $109M | 85 | +22.22% | +26.18% | -3.95% | -0.02B |
| 2023-09-30 | $111M | 97 | -1.65% | +21.57% | -23.22% | +0.03B |
| 2023-06-30 | $86M | 91 | +0.15% | +26.33% | -26.19% | +0.00B |
| 2023-03-31 | $80M | 61 | +1.75% | +25.96% | -24.22% | +0.02B |
| 2022-12-31 | $62M | 51 | -9.62% | +7.56% | -17.18% | +0.00B |
| 2021-09-30 | $66M | 64 | +0.57% | +0.57% | +0.00% | +0.00B |
| 2021-06-30 | $64M | 69 | +8.36% | +8.36% | -0.00% | -0.01B |