Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-0.08%
trims when stocks drop
when a holding falls −10%+
Middle response
-0.32%
baseline attrition
Rally response
-0.67%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| BRK-ABerkshire Hathaway Inc. | $45M | 7.0% | — | 3.0 yr |
| BNDXVanguard Total Internati | $43M | 6.6% | — | 1.0 yr |
| AAPLApple Inc. | $26M | 3.9% | +14.7% | 10.5 yr |
| GOOGAlphabet Inc. | $25M | 3.8% | +84.3% | 8.8 yr |
| EMEEMCOR Group, Inc. | $22M | 3.5% | +100.2% | 8.0 yr |
| RTXRTX Corporation | $22M | 3.4% | +48.1% | 6.0 yr |
| MSFTMicrosoft Corporation | $21M | 3.2% | -0.6% | 10.5 yr |
| AXPAmerican Express Company | $19M | 2.9% | +13.3% | 6.3 yr |
| IAUiShares Gold Trust | $18M | 2.8% | — | 3.3 yr |
| TJXThe TJX Companies, Inc. | $17M | 2.6% | +32.7% | 10.5 yr |
| AVUVAvantis U.S. Small Cap V | $15M | 2.4% | — | 3.3 yr |
| DEDeere & Company | $14M | 2.1% | +21.2% | 10.5 yr |
| AMGNAmgen Inc. | $12M | 1.8% | +16.5% | 10.5 yr |
| ETNEaton Corporation plc | $11M | 1.6% | +33.2% | 8.8 yr |
| JNJJohnson & Johnson | $10M | 1.6% | +51.5% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management10.4%+3.2pp$68M
Insurance - Diversified7.4%-3.0pp$48M
Asset Management - Bonds6.6%$43M
Drug Manufacturers - General5.3%+0.1pp$34M
Internet Content & Information4.1%+1.4pp$27M
Financial - Credit Services4.1%-0.8pp$27M
Consumer Electronics3.9%-0.2pp$26M
Aerospace & Defense3.6%+0.6pp$23M
Engineering & Construction3.5%+0.8pp$23M
Industrial - Machinery3.3%+0.6pp$22M
Country
US94.5%+3.0pp
IE3.1%-0.7pp
GB1.4%-1.7pp
Unknown0.8%
SG0.1%
NL0.1%+0.0pp
TW0.0%
Top 5: 24.8% · Top 10: 39.7% · Top 25: 63.2%
Top buys this quarter · 15
| AJG Arthur J. Gallagher & Co.new | +$7M |
| JNJ Johnson & Johnson | +$1M |
| EXP Eagle Materials Inc. | +$1M |
| ACN Accenture plc | +$5M |
| NKE NIKE, Inc. | +$3M |
| PFE Pfizer Inc. | +$0M |
| BDX Becton, Dickinson and Company | +$5M |
| PWR Quanta Services, Inc.new | +$0M |
| TSM Taiwan Semiconductor Manufactunew | +$0M |
| NEM Newmont Corporationnew | +$0M |
Top sells this quarter · 15
| EME EMCOR Group, Inc. | −$6M |
| NICE NICE Ltd.exit | −$5M |
| AMAT Applied Materials, Inc. | −$0M |
| NVDA NVIDIA Corporation | −$0M |
| CRWD CrowdStrike Holdings, Inc.exit | −$0M |
| AXP American Express Company | −$0M |
| MKL Markel Corporationexit | −$0M |
| TSLA Tesla, Inc.exit | −$0M |
| WMT Walmart Inc. | −$7M |
| DE Deere & Company | −$11M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $649M | 185 | +12.74% | +17.59% | -4.85% | +0.00B |
| 2025-12-31 | $658M | 189 | +12.02% | +17.72% | -5.70% | +0.00B |
| 2025-09-30 | $641M | 162 | +9.27% | +17.52% | -8.25% | -0.00B |
| 2025-06-30 | $607M | 160 | +11.63% | +14.94% | -3.31% | +0.01B |
| 2025-03-31 | $556M | 155 | +5.94% | +8.30% | -2.36% | +0.02B |
| 2024-12-31 | $554M | 158 | +18.70% | +24.89% | -6.19% | +0.00B |
| 2024-09-30 | $554M | 157 | +31.41% | +36.04% | -4.63% | -0.00B |
| 2024-06-30 | $515M | 142 | +18.77% | +24.49% | -5.72% | -0.00B |
| 2024-03-31 | $512M | 147 | +23.85% | +29.62% | -5.77% | -0.03B |
| 2023-12-31 | $495M | 151 | +17.07% | +26.18% | -9.11% | +0.05B |
| 2023-09-30 | $405M | 135 | +17.55% | +21.57% | -4.02% | -0.00B |
| 2023-06-30 | $418M | 142 | +14.44% | +19.42% | -4.98% | -0.02B |
| 2023-03-31 | $411M | 139 | -5.40% | -7.82% | +2.42% | +0.04B |
| 2022-12-31 | $363M | 77 | +10.61% | +7.56% | +3.05% | -0.00B |
| 2022-09-30 | $329M | 76 | -5.01% | -4.93% | -0.08% | +0.00B |
| 2022-06-30 | $344M | 73 | -12.69% | -16.11% | +3.42% | +0.00B |