Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-0.95%
trims when stocks drop
when a holding falls −10%+
Middle response
-5.53%
baseline attrition
Rally response
-0.88%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| VYMIVanguard International H | $60M | 8.5% | — | 3.8 yr |
| SCHDSchwab U.S. Dividend Equ | $59M | 8.4% | — | 10.5 yr |
| VUGVanguard Growth ETF | $49M | 6.9% | — | 10.0 yr |
| SPBOState Street SPDR Portfo | $33M | 4.6% | — | 1.5 yr |
| BILZPIMCO Ultra Short Govern | $31M | 4.3% | — | 1.0 yr |
| NOBLProShares - S&P 500 Divi | $27M | 3.8% | — | 10.5 yr |
| PFFiShares Preferred and In | $21M | 2.9% | — | 10.5 yr |
| FMDEFidelity Enhanced Mid Ca | $20M | 2.8% | — | 0.5 yr |
| VTIVanguard Total Stock Mar | $18M | 2.6% | — | 10.5 yr |
| IJRiShares Core S&P Small-C | $17M | 2.4% | — | 8.3 yr |
| CMICummins Inc. | $17M | 2.4% | +74.8% | 7.0 yr |
| VLOValero Energy Corporatio | $16M | 2.3% | +92.6% | 9.5 yr |
| RTXRTX Corporation | $15M | 2.2% | +48.1% | 6.0 yr |
| TAT&T Inc. | $14M | 2.0% | +5.9% | 10.5 yr |
| MMM3M Company | $13M | 1.9% | +0.7% | 8.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management60.4%+4.0pp$426M
Aerospace & Defense3.7%+0.6pp$26M
Industrial - Machinery3.6%+0.3pp$26M
Asset Management - Income2.6%-0.2pp$19M
Oil & Gas Refining & Marketing2.3%+0.0pp$16M
Oil & Gas Integrated2.2%+0.1pp$16M
Banks - Regional2.2%+0.4pp$15M
Telecommunications Services2.1%-0.7pp$15M
Conglomerates1.9%-0.9pp$13M
Communication Equipment1.8%-0.2pp$13M
Country
US96.5%-0.0pp
CH1.6%-0.4pp
IE1.2%+0.0pp
GB0.2%+0.1pp
Unknown0.2%+0.2pp
CA0.1%+0.1pp
DK0.1%-0.0pp
SG0.1%+0.0pp
Top 5: 32.8% · Top 10: 47.3% · Top 25: 72.8%
Top buys this quarter · 15
| UNH UnitedHealth Group Incorporate | +$7M |
| BFST Business First Bancshares, Inc | +$1M |
| MSFT Microsoft Corporation | +$5M |
| HBCP Home Bancorp, Inc. | +$1M |
| FHN First Horizon Corporation | +$0M |
| BA The Boeing Company | +$0M |
| ETN Eaton Corporation plc | +$0M |
| UPS United Parcel Service, Inc. | +$0M |
| IBM International Business Machine | +$5M |
| MMM 3M Company | +$13M |
Top sells this quarter · 15
| QCOM QUALCOMM Incorporated | −$7M |
| VLO Valero Energy Corporation | −$13M |
| RTX RTX Corporation | −$4M |
| AMAT Applied Materials, Inc. | −$2M |
| HD The Home Depot, Inc.exit | −$1M |
| XOM Exxon Mobil Corporation | −$6M |
| APH Amphenol Corporationexit | −$0M |
| ADBE Adobe Inc.exit | −$0M |
| 0HQN.L Cboe Global Markets, Inc.exit | −$0M |
| STX Seagate Technology Holdings pl | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $705M | 193 | +24.56% | +17.59% | +6.96% | -0.03B |
| 2025-12-31 | $699M | 195 | +20.44% | +17.72% | +2.72% | +0.03B |
| 2025-09-30 | $645M | 180 | +16.75% | +17.52% | -0.77% | +0.04B |
| 2025-06-30 | $558M | 168 | +14.33% | +14.94% | -0.61% | +0.03B |
| 2025-03-31 | $504M | 151 | +10.11% | +8.30% | +1.80% | -0.02B |
| 2024-12-31 | $511M | 150 | +21.96% | +24.89% | -2.93% | -0.02B |
| 2024-09-30 | $533M | 151 | +33.09% | +36.04% | -2.95% | +0.01B |
| 2024-06-30 | $494M | 141 | +19.69% | +24.49% | -4.80% | -0.01B |
| 2024-03-31 | $494M | 133 | +17.94% | +29.62% | -11.68% | -0.00B |
| 2023-12-31 | $441M | 128 | +6.29% | +26.18% | -19.89% | -0.00B |
| 2023-09-30 | $407M | 121 | +9.24% | +21.57% | -12.33% | -0.01B |
| 2023-06-30 | $433M | 122 | +5.27% | +19.42% | -14.15% | +0.01B |
| 2023-03-31 | $422M | 125 | -2.35% | -7.82% | +5.47% | +0.00B |
| 2022-12-31 | $414M | 127 | -8.27% | -18.17% | +9.91% | +0.02B |
| 2022-09-30 | $348M | 124 | -9.43% | -15.51% | +6.08% | -0.04B |
| 2022-06-30 | $418M | 133 | -1.34% | -10.62% | +9.28% | -0.04B |