Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-1.77%
trims when stocks drop
when a holding falls −10%+
Middle response
-1.12%
baseline attrition
Rally response
-3.63%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| CVXChevron Corporation | $48M | 5.8% | +29.2% | 6.3 yr |
| CEFSprott Physical Gold and | $46M | 5.5% | — | 7.5 yr |
| AMATApplied Materials, Inc. | $37M | 4.4% | +137.6% | 5.8 yr |
| NFGNational Fuel Gas Compan | $36M | 4.4% | +20.9% | 6.3 yr |
| TAKTakeda Pharmaceutical Co | $33M | 4.0% | +27.4% | 6.3 yr |
| SNYSanofi | $33M | 3.9% | -10.4% | 10.5 yr |
| — | $31M | 3.8% | — | 2.5 yr |
| MSFTMicrosoft Corporation | $30M | 3.7% | -0.6% | 10.5 yr |
| CSCOCisco Systems, Inc. | $30M | 3.6% | +28.1% | 10.5 yr |
| GOOGAlphabet Inc. | $30M | 3.6% | +84.3% | 2.0 yr |
| VZVerizon Communications I | $30M | 3.5% | +16.5% | 2.3 yr |
| MDTMedtronic plc | $27M | 3.2% | -1.3% | 4.3 yr |
| TTEKTetra Tech, Inc. | $27M | 3.2% | +3.7% | 10.5 yr |
| NVSNovartis AG | $25M | 3.0% | +39.7% | 10.3 yr |
| HONHoneywell International | $23M | 2.8% | +9.0% | 1.8 yr |
Portfolio composition (YoY)
Industry mix
Oil & Gas Integrated10.1%+2.9pp$85M
Drug Manufacturers - General9.4%-2.1pp$79M
Asset Management9.3%+1.7pp$78M
Unknown7.3%+2.7pp$61M
Telecommunications Services6.2%+0.6pp$52M
Internet Content & Information6.2%+0.1pp$52M
Semiconductors5.6%+2.4pp$47M
Conglomerates5.4%+0.1pp$45M
Discount Stores4.7%+0.2pp$39M
Drug Manufacturers - Specialty & Generic4.0%+1.0pp$33M
Country
US64.8%-2.7pp
IE7.3%+1.4pp
Unknown7.3%+2.7pp
FR6.6%-0.7pp
CA5.5%+1.0pp
JP4.0%+1.0pp
CH3.0%-0.0pp
UY1.5%-0.0pp
Top 5: 24.1% · Top 10: 42.6% · Top 25: 82.8%
Top buys this quarter · 15
| CVX Chevron Corporation | +$19M |
| VZ Verizon Communications Inc. | +$9M |
| WDAY Workday, Inc. | +$7M |
| TAK Takeda Pharmaceutical Company | +$6M |
| AON Aon plc | +$4M |
| UBER Uber Technologies, Inc. | +$3M |
| V Visa Inc. | +$3M |
| SNY Sanofi | +$2M |
| TTEK Tetra Tech, Inc. | +$27M |
| HON Honeywell International Inc. | +$1M |
Top sells this quarter · 15
| ECG Everus Construction Group, Incexit | −$18M |
| WMT Walmart Inc. | −$10M |
| CSCO Cisco Systems, Inc. | −$8M |
| PSMT PriceSmart, Inc. | −$5M |
| NVS Novartis AG | −$5M |
| MU Micron Technology, Inc. | −$5M |
| FCX Freeport-McMoRan Inc. | −$3M |
| MSFT Microsoft Corporation | −$2M |
| PM Philip Morris International Inexit | −$2M |
| AMAT Applied Materials, Inc. | −$29M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $834M | 51 | +27.17% | +17.59% | +9.58% | -0.03B |
| 2025-12-31 | $828M | 62 | +23.93% | +17.72% | +6.21% | -0.01B |
| 2025-09-30 | $808M | 51 | +16.43% | +17.52% | -1.09% | -0.01B |
| 2025-06-30 | $770M | 48 | +16.97% | +14.94% | +2.03% | -0.03B |
| 2025-03-31 | $722M | 50 | +7.71% | +8.30% | -0.60% | +0.03B |
| 2024-12-31 | $675M | 52 | +12.89% | +24.89% | -12.00% | -0.01B |
| 2024-09-30 | $708M | 48 | +23.73% | +36.04% | -12.31% | -0.01B |
| 2024-06-30 | $675M | 43 | +15.18% | +24.49% | -9.31% | -0.03B |
| 2024-03-31 | $687M | 40 | +15.31% | +29.62% | -14.31% | -0.02B |
| 2023-12-31 | $660M | 39 | +16.04% | +26.18% | -10.14% | -0.04B |
| 2023-09-30 | $653M | 38 | +20.64% | +21.57% | -0.93% | -0.01B |
| 2023-06-30 | $666M | 40 | +9.44% | +19.42% | -9.98% | -0.01B |
| 2023-03-31 | $659M | 37 | -8.04% | -7.82% | -0.23% | -0.03B |
| 2022-12-31 | $639M | 39 | +10.67% | +7.56% | +3.11% | +0.02B |
| 2022-09-30 | $564M | 35 | -10.08% | -4.93% | -5.15% | -0.00B |
| 2022-06-30 | $630M | 36 | -14.20% | -16.11% | +1.91% | +0.00B |