Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+2.10%
adds when stocks drop
when a holding falls −10%+
Middle response
-5.56%
baseline attrition
Rally response
-13.36%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| WBDWarner Bros. Discovery, | $878M | 16.7% | +155.9% | 4.0 yr |
| HUMHumana Inc. | $646M | 12.3% | -33.8% | 1.5 yr |
| PCGPG&E Corporation | $432M | 8.2% | +2.9% | 3.8 yr |
| KMBKimberly-Clark Corporati | $427M | 8.1% | -29.2% | 0.3 yr |
| ILMNIllumina, Inc. | $404M | 7.7% | +55.4% | 1.0 yr |
| APDAir Products and Chemica | $344M | 6.6% | +0.5% | 1.0 yr |
| ALLYAlly Financial Inc. | $333M | 6.3% | +11.1% | 8.0 yr |
| SHCSotera Health Company | $331M | 6.3% | +23.0% | 2.3 yr |
| COFCapital One Financial Co | $284M | 5.4% | +3.1% | 1.0 yr |
| SOLSSolstice Advanced Materi | $214M | 4.1% | — | 0.5 yr |
| TFXTeleflex Incorporated | $183M | 3.5% | -12.4% | 0.3 yr |
| — | $98M | 1.9% | — | 1.3 yr |
| CPNGCoupang, Inc. | $98M | 1.9% | -13.9% | 0.3 yr |
| TNDMTandem Diabetes Care, In | $91M | 1.7% | +0.1% | 1.5 yr |
| GRALGRAIL, Inc. | $89M | 1.7% | +102.3% | 2.0 yr |
Portfolio composition (YoY)
Industry mix
Entertainment17.3%+3.2pp$911M
Medical - Diagnostics & Research15.7%+10.6pp$823M
Medical - Healthcare Plans12.4%+8.2pp$652M
Chemicals - Specialty11.8%$620M
Financial - Credit Services11.7%-7.8pp$617M
Regulated Electric8.2%-5.0pp$432M
Household & Personal Products8.1%$427M
Medical - Instruments & Supplies3.5%$183M
Unknown2.1%+0.2pp$111M
Medical - Devices1.9%-11.5pp$102M
Country
US94.7%+1.5pp
Unknown2.1%+0.2pp
KR1.9%
NL1.4%
Top 5: 53.0% · Top 10: 81.7% · Top 25: 99.5%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| WBD | $317M | +0.49B | 155.9% |
| GRAL | $49M | +0.05B | 102.3% |
| ASA | $32M | +0.03B | 106.2% |
| ALLY | $171M | +0.02B | 11.1% |
| SHC | $73M | +0.02B | 23.0% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| HUM | $101M | -0.03B | -33.8% |
Top buys this quarter · 13
| MMED MiniMed Group, Inc. Common Stonew | +$0M |
| KMB Kimberly-Clark Corporationnew | +$427M |
| HUM Humana Inc. | +$244M |
| TFX Teleflex Incorporatednew | +$183M |
| ALLY Ally Financial Inc. | +$149M |
| CPNG Coupang, Inc.new | +$98M |
| GRAL GRAIL, Inc. | +$70M |
| SHC Sotera Health Company | +$331M |
| LXRX Lexicon Pharmaceuticals, Inc. | +$23M |
| SENS Senseonics Holdings, Inc.new | +$12M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $5.26B | 31 | +43.85% | +17.59% | +26.26% | +0.46B |
| 2025-12-31 | $5.03B | 27 | +56.17% | +17.72% | +38.45% | +0.16B |
| 2025-09-30 | $3.98B | 27 | +29.19% | +17.52% | +11.67% | +0.17B |
| 2025-06-30 | $3.29B | 28 | +20.84% | +14.94% | +5.90% | +0.71B |
| 2025-03-31 | $2.42B | 29 | +2.19% | +8.30% | -6.12% | -0.23B |
| 2024-12-31 | $2.56B | 25 | +2.28% | +24.89% | -22.61% | -0.09B |
| 2024-09-30 | $2.62B | 28 | +15.75% | +36.04% | -20.29% | -0.16B |
| 2024-06-30 | $2.56B | 27 | +2.99% | +24.49% | -21.50% | +0.25B |
| 2024-03-31 | $2.57B | 27 | +11.99% | +29.62% | -17.63% | +0.35B |
| 2023-12-31 | $2.15B | 23 | +16.67% | +26.18% | -9.50% | -0.45B |
| 2023-09-30 | $2.26B | 25 | +6.85% | +21.57% | -14.72% | +0.34B |
| 2023-06-30 | $1.99B | 18 | -1.18% | +19.42% | -20.60% | -0.37B |
| 2023-03-31 | $2.42B | 34 | -12.55% | -7.82% | -4.73% | +0.67B |
| 2022-12-31 | $1.62B | 31 | +4.99% | +7.56% | -2.57% | +0.16B |
| 2022-09-30 | $1.39B | 30 | -10.83% | -4.93% | -5.90% | +0.07B |
| 2022-06-30 | $1.48B | 30 | -13.34% | -16.11% | +2.77% | +0.06B |