Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-11.39%
trims when stocks drop
when a holding falls −10%+
Middle response
-5.73%
baseline attrition
Rally response
-5.17%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| RYRoyal Bank of Canada | $89M | 4.9% | +48.2% | 10.5 yr |
| — | $57M | 3.1% | — | 3.0 yr |
| AZNAstraZeneca PLC | $55M | 3.0% | +36.2% | 0.3 yr |
| FTSFortis Inc. | $55M | 3.0% | +26.8% | 9.5 yr |
| TDThe Toronto-Dominion Ban | $53M | 2.9% | +60.9% | 10.5 yr |
| CNICanadian National Railwa | $53M | 2.9% | +8.2% | 10.5 yr |
| QSRRestaurant Brands Intern | $51M | 2.8% | +15.1% | 7.3 yr |
| AAPLApple Inc. | $49M | 2.7% | +14.7% | 10.5 yr |
| MSFTMicrosoft Corporation | $46M | 2.5% | -0.6% | 10.5 yr |
| CMCanadian Imperial Bank o | $46M | 2.5% | +73.0% | 10.5 yr |
| ABTAbbott Laboratories | $42M | 2.3% | -21.1% | 3.5 yr |
| NVDANVIDIA Corporation | $39M | 2.1% | +60.9% | 1.3 yr |
| VVisa Inc. | $38M | 2.1% | -13.1% | 6.8 yr |
| JJacobs Solutions Inc. | $37M | 2.0% | +7.4% | 3.3 yr |
| — | $31M | 1.7% | — | 3.0 yr |
Portfolio composition (YoY)
Industry mix
Banks - Diversified14.0%+1.8pp$256M
Regulated Electric7.0%+0.8pp$128M
Unknown6.5%-3.5pp$119M
Drug Manufacturers - General5.8%+3.0pp$107M
Asset Management5.1%+0.4pp$93M
Semiconductors4.7%+2.8pp$86M
Restaurants3.3%+0.4pp$61M
Railroads3.1%-0.8pp$56M
Engineering & Construction2.8%-0.7pp$51M
Consumer Electronics2.7%+1.5pp$50M
Country
US53.9%+1.0pp
CA31.2%+1.4pp
Unknown6.5%-3.5pp
GB5.9%+1.9pp
DE1.3%-0.5pp
NL0.7%+0.7pp
UY0.2%-1.1pp
IE0.1%+0.0pp
Top 5: 16.9% · Top 10: 30.3% · Top 25: 55.6%
Top buys this quarter · 15
| AZN AstraZeneca PLCnew | +$55M |
| RY Royal Bank of Canada | +$42M |
| TD The Toronto-Dominion Bank | +$34M |
| AAPL Apple Inc. | +$30M |
| CNI Canadian National Railway Comp | +$25M |
| FTS Fortis Inc. | +$25M |
| QSR Restaurant Brands Internationa | +$23M |
| WCN Waste Connections, Inc. | +$20M |
| AMZN Amazon.com, Inc. | +$19M |
| CM Canadian Imperial Bank of Comm | +$18M |
Top sells this quarter · 15
| UNP Union Pacific Corporation | −$17M |
| MELI MercadoLibre, Inc. | −$13M |
| OTEX Open Text Corporation | −$12M |
| MSFT Microsoft Corporation | −$12M |
| UBER Uber Technologies, Inc. | −$11M |
| WTW Willis Towers Watson Public Li | −$9M |
| LLY Eli Lilly and Company | −$5M |
| ASML ASML Holding N.V. | −$4M |
| V Visa Inc. | −$3M |
| J Jacobs Solutions Inc. | −$3M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.83B | 434 | +14.92% | +17.59% | -2.67% | +0.45B |
| 2025-12-31 | $1.41B | 365 | +17.48% | +17.72% | -0.24% | -0.36B |
| 2025-09-30 | $1.74B | 357 | +12.11% | +17.52% | -5.41% | -0.03B |
| 2025-06-30 | $1.66B | 360 | +14.53% | +14.94% | -0.41% | +0.01B |
| 2025-03-31 | $1.53B | 340 | +3.88% | +8.30% | -4.42% | +0.05B |
| 2024-12-31 | $1.48B | 339 | +7.51% | +24.89% | -17.38% | +0.09B |
| 2024-09-30 | $1.42B | 348 | +24.46% | +36.04% | -11.57% | +0.02B |
| 2024-06-30 | $1.28B | 318 | +8.03% | +24.49% | -16.46% | -0.01B |
| 2024-03-31 | $1.32B | 329 | +14.85% | +29.62% | -14.77% | -1.10B |
| 2023-12-31 | $2.33B | 316 | +15.93% | +26.18% | -10.25% | +0.08B |
| 2023-09-30 | $2.00B | 143 | +11.08% | +21.57% | -10.48% | -0.08B |
| 2023-06-30 | $2.21B | 149 | +8.66% | +19.42% | -10.77% | -0.06B |
| 2023-03-31 | $2.18B | 150 | -8.38% | -7.82% | -0.57% | -0.06B |
| 2022-12-31 | $2.14B | 154 | +8.07% | +7.56% | +0.51% | -0.13B |
| 2022-09-30 | $2.10B | 136 | -7.76% | -4.93% | -2.83% | -0.06B |
| 2022-06-30 | $2.34B | 142 | -12.10% | -16.11% | +4.01% | -0.07B |