Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+13.61%
adds when stocks drop
when a holding falls −10%+
Middle response
+3.10%
steady accumulation
Rally response
-10.93%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| AMZNAmazon.com, Inc. | $147M | 6.6% | +9.5% | 1.5 yr |
| CHTRCharter Communications, | $90M | 4.0% | -41.4% | 0.8 yr |
| MOHMolina Healthcare, Inc. | $82M | 3.7% | -59.5% | 0.8 yr |
| — | $77M | 3.5% | — | 3.5 yr |
| CZRCaesars Entertainment, I | $72M | 3.2% | +5.7% | 4.3 yr |
| ETEnergy Transfer LP | $65M | 2.9% | +12.1% | 4.5 yr |
| CMCSAComcast Corporation | $64M | 2.9% | — | 4.5 yr |
| CVSCVS Health Corporation | $64M | 2.9% | +10.0% | 1.8 yr |
| CNCCentene Corporation | $63M | 2.8% | -46.1% | 1.8 yr |
| GLNGGolar LNG Limited | $62M | 2.8% | +45.8% | 2.8 yr |
| BNTXBioNTech SE | $55M | 2.5% | -2.4% | 1.3 yr |
| DISThe Walt Disney Company | $54M | 2.4% | -1.3% | 0.3 yr |
| APOApollo Global Management | $54M | 2.4% | -17.4% | 4.3 yr |
| UNHUnitedHealth Group Incor | $51M | 2.3% | -46.9% | 1.0 yr |
| VSATViasat, Inc. | $50M | 2.2% | +339.5% | 1.3 yr |
Portfolio composition (YoY)
Industry mix
Medical - Healthcare Plans14.3%+7.7pp$319M
Specialty Retail9.3%+1.5pp$207M
Telecommunications Services8.4%-1.6pp$187M
Oil & Gas Midstream5.7%-0.5pp$127M
Biotechnology5.5%-2.7pp$122M
Gambling, Resorts & Casinos5.4%-1.3pp$121M
Asset Management4.5%+4.3pp$99M
Unknown4.1%-3.4pp$91M
Software - Infrastructure3.4%+2.9pp$75M
Software - Application3.3%+3.3pp$74M
Country
US79.4%+5.2pp
BM4.7%+0.5pp
Unknown4.1%-3.4pp
CN3.1%-0.4pp
DE2.5%+1.5pp
CA2.5%
AR2.0%+1.2pp
GB0.8%-0.6pp
Top 5: 21.0% · Top 10: 35.3% · Top 25: 67.1%
Top buys this quarter · 15
| AMZN Amazon.com, Inc. | +$102M |
| DIS The Walt Disney Companynew | +$54M |
| APO Apollo Global Management, Inc. | +$52M |
| MSFT Microsoft Corporationnew | +$46M |
| KKR KKR & Co. Inc.new | +$46M |
| B Barrick Mining Corporationnew | +$37M |
| MAT Mattel, Inc.new | +$28M |
| COF Capital One Financial Corporatnew | +$26M |
| PINS Pinterest, Inc. | +$26M |
| HHH Howard Hughes Holdings Inc. | +$23M |
Top sells this quarter · 15
| PYPL PayPal Holdings, Inc.exit | −$76M |
| IOVA Iovance Biotherapeutics, Inc. | −$23M |
| OVV Ovintiv Inc.exit | −$22M |
| GLNG Golar LNG Limited | −$57M |
| AM Antero Midstream Corporationexit | −$14M |
| HLF Herbalife Nutrition Ltd. | −$9M |
| BABA Alibaba Group Holding Limited | −$8M |
| FIP FTAI Infrastructure Inc. | −$8M |
| TLYS Tilly's, Inc.exit | −$7M |
| C Citigroup Inc. | −$7M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $2.22B | 82 | +1.41% | +17.59% | -16.19% | +0.45B |
| 2025-12-31 | $1.95B | 75 | +7.39% | +17.72% | -10.33% | +0.28B |
| 2025-09-30 | $1.66B | 77 | +12.77% | +17.52% | -4.75% | +0.11B |
| 2025-06-30 | $1.47B | 79 | +18.16% | +14.94% | +3.22% | -0.03B |
| 2025-03-31 | $1.42B | 85 | +11.07% | +8.30% | +2.77% | +0.21B |
| 2024-12-31 | $1.26B | 87 | +24.60% | +24.89% | -0.28% | +0.12B |
| 2024-09-30 | $1.08B | 88 | +28.66% | +36.04% | -7.38% | +0.07B |
| 2024-06-30 | $917M | 89 | +15.95% | +24.49% | -8.54% | +0.07B |
| 2024-03-31 | $854M | 87 | +24.96% | +29.62% | -4.66% | +0.03B |
| 2023-12-31 | $763M | 98 | +17.87% | +26.18% | -8.31% | +0.01B |
| 2023-09-30 | $688M | 102 | +13.42% | +21.57% | -8.15% | +0.04B |
| 2023-06-30 | $652M | 104 | +6.84% | +19.42% | -12.58% | -0.00B |
| 2023-03-31 | $614M | 106 | -16.44% | -7.82% | -8.62% | +0.00B |
| 2022-12-31 | $600M | 101 | +4.84% | +7.56% | -2.72% | +0.10B |
| 2022-09-30 | $473M | 100 | -6.28% | -4.93% | -1.35% | +0.01B |
| 2022-06-30 | $493M | 106 | -16.66% | -16.11% | -0.55% | +0.11B |