Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-16.41%
trims when stocks drop
when a holding falls −10%+
Middle response
-22.26%
baseline attrition
Rally response
-24.48%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| BRK-ABerkshire Hathaway Inc. | $156M | 5.5% | — | 6.0 yr |
| BKLNInvesco Senior Loan ETF | $41M | 1.4% | — | 0.5 yr |
| GEVGE Vernova Inc. | $37M | 1.3% | +186.8% | 2.0 yr |
| BKNGBooking Holdings Inc. | $36M | 1.3% | -96.3% | 5.0 yr |
| NFLXNetflix, Inc. | $33M | 1.2% | +3.1% | 8.0 yr |
| IBITiShares Bitcoin Trust ET | $25M | 0.9% | — | 1.3 yr |
| CSXCSX Corporation | $24M | 0.9% | +41.6% | 7.5 yr |
| SOLSSolstice Advanced Materi | $23M | 0.8% | — | 0.5 yr |
| KRThe Kroger Co. | $22M | 0.8% | +9.1% | 8.5 yr |
| AESThe AES Corporation | $22M | 0.8% | +19.9% | 4.3 yr |
| ENTGEntegris, Inc. | $21M | 0.7% | +34.6% | 3.8 yr |
| EAElectronic Arts Inc. | $21M | 0.7% | +41.7% | 8.0 yr |
| HOLXHologic, Inc. | $21M | 0.7% | +22.4% | 6.3 yr |
| MASIMasimo Corporation | $20M | 0.7% | +6.8% | 4.8 yr |
| SFStifel Financial Corp. | $18M | 0.6% | +20.2% | 1.3 yr |
Portfolio composition (YoY)
Industry mix
Insurance - Diversified6.4%-4.6pp$183M
Software - Application4.1%+2.7pp$118M
Software - Infrastructure3.6%+1.1pp$102M
Semiconductors3.6%-0.1pp$101M
Asset Management3.5%-0.6pp$99M
Biotechnology3.2%+1.7pp$92M
Banks - Regional2.7%-0.4pp$78M
Unknown2.7%+1.8pp$76M
Financial - Capital Markets2.4%+1.6pp$67M
Entertainment2.1%+0.9pp$60M
Country
US89.5%-5.8pp
Unknown2.7%+1.8pp
CA1.9%+1.4pp
IE1.5%+0.8pp
BR0.8%+0.8pp
GB0.7%+0.4pp
UY0.5%+0.4pp
BM0.5%-0.8pp
Top 5: 10.6% · Top 10: 14.7% · Top 25: 24.1%
Top buys this quarter · 15
| NFLX Netflix, Inc. | +$26M |
| AES The AES Corporation | +$22M |
| MASI Masimo Corporation | +$19M |
| KR The Kroger Co. | +$19M |
| SF Stifel Financial Corp. | +$18M |
| GEV GE Vernova Inc. | +$15M |
| A Agilent Technologies, Inc. | +$14M |
| DELL Dell Technologies Inc. | +$14M |
| MSM MSC Industrial Direct Co., Inc | +$14M |
| ODFL Old Dominion Freight Line, Inc | +$13M |
Top sells this quarter · 15
| INTC Intel Corporation | −$31M |
| DVN Devon Energy Corporation | −$30M |
| UNP Union Pacific Corporation | −$24M |
| CAH Cardinal Health, Inc. | −$24M |
| GTLS Chart Industries, Inc.exit | −$19M |
| EQT EQT Corporationexit | −$18M |
| CPRT Copart, Inc. | −$18M |
| UGI UGI Corporation | −$17M |
| SOLS Solstice Advanced Materials In | −$17M |
| ALB Albemarle Corporationexit | −$17M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $2.85B | 1079 | +24.39% | +17.59% | +6.80% | -0.04B |
| 2025-12-31 | $2.89B | 910 | +19.58% | +17.72% | +1.86% | +0.13B |
| 2025-09-30 | $2.67B | 696 | +20.38% | +17.52% | +2.86% | +0.52B |
| 2025-06-30 | $1.95B | 805 | +17.68% | +14.94% | +2.74% | +0.16B |
| 2025-03-31 | $1.64B | 654 | +9.84% | +8.30% | +1.53% | +0.20B |
| 2024-12-31 | $1.50B | 592 | +23.96% | +24.89% | -0.93% | +0.01B |
| 2024-09-30 | $1.43B | 604 | +31.65% | +36.04% | -4.38% | -0.16B |
| 2024-06-30 | $1.48B | 556 | +19.92% | +24.49% | -4.57% | +0.04B |
| 2024-03-31 | $1.41B | 580 | +22.53% | +29.62% | -7.10% | -0.07B |
| 2023-12-31 | $1.37B | 725 | +16.96% | +26.18% | -9.22% | +0.03B |
| 2023-09-30 | $1.21B | 752 | +15.57% | +21.57% | -6.00% | +0.04B |
| 2023-06-30 | $1.19B | 744 | +11.27% | +19.42% | -8.15% | -0.51B |
| 2023-03-31 | $1.64B | 940 | -5.90% | -7.82% | +1.92% | +0.07B |
| 2022-12-31 | $1.52B | 900 | +9.42% | +7.56% | +1.86% | -0.15B |
| 2022-09-30 | $1.52B | 917 | -5.78% | -4.93% | -0.85% | -0.25B |
| 2022-06-30 | $1.88B | 928 | -11.83% | -16.11% | +4.28% | +0.21B |