Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-2.43%
trims when stocks drop
when a holding falls −10%+
Middle response
+0.76%
steady accumulation
Rally response
-2.92%
trims into rallies
when a holding rises +10%+
Top positions · 10
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| GEGE Aerospace | $13.48B | 29.8% | +42.5% | 3.3 yr |
| VVisa Inc. | $9.21B | 20.4% | -13.1% | 7.0 yr |
| MCOMoody's Corporation | $6.25B | 13.8% | -5.6% | 10.5 yr |
| SPGIS&P Global Inc. | $5.97B | 13.2% | -15.6% | 9.3 yr |
| — | $3.66B | 8.1% | — | 3.0 yr |
| GOOGAlphabet Inc. | $2.54B | 5.6% | +84.3% | 8.8 yr |
| — | $1.33B | 2.9% | — | 2.0 yr |
| CNICanadian National Railwa | $1.01B | 2.2% | +8.2% | 7.8 yr |
| MSFTMicrosoft Corporation | $1.01B | 2.2% | -0.6% | 8.3 yr |
| GOOGLAlphabet Inc. | $707M | 1.6% | — | 7.3 yr |
Portfolio composition (YoY)
Industry mix
Aerospace & Defense29.8%+7.9pp$13.48B
Financial - Data & Stock Exchanges27.1%+0.8pp$12.22B
Financial - Credit Services20.4%+6.9pp$9.21B
Unknown11.0%+0.2pp$4.99B
Internet Content & Information7.2%+0.7pp$3.25B
Railroads2.2%-3.8pp$1.01B
Software - Infrastructure2.2%-12.7pp$1.01B
Country
US86.7%+3.6pp
Unknown11.0%+0.2pp
CA2.2%-3.8pp
Top 5: 85.4% · Top 10: 100.0% · Top 25: 100.0%
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $45.17B | 10 | +8.62% | +17.59% | -8.97% | -1.20B |
| 2025-12-31 | $53.65B | 9 | +28.67% | +17.72% | +10.96% | -0.82B |
| 2025-09-30 | $52.70B | 9 | +22.03% | +17.52% | +4.51% | -0.41B |
| 2025-06-30 | $50.71B | 10 | +25.56% | +14.94% | +10.61% | +0.35B |
| 2025-03-31 | $43.37B | 10 | +13.00% | +8.30% | +4.70% | -0.05B |
| 2024-12-31 | $42.41B | 10 | +21.06% | +24.89% | -3.83% | -0.73B |
| 2024-09-30 | $44.02B | 10 | +42.01% | +36.04% | +5.97% | -0.08B |
| 2024-06-30 | $40.92B | 10 | +26.10% | +24.49% | +1.61% | -0.52B |
| 2024-03-31 | $39.66B | 10 | +33.02% | +29.62% | +3.40% | +0.21B |
| 2023-12-31 | $35.97B | 11 | +34.23% | +26.18% | +8.05% | +4.28B |
| 2023-09-30 | $27.56B | 9 | +24.72% | +21.57% | +3.16% | -4.65B |
| 2023-06-30 | $33.67B | 10 | +20.21% | +19.42% | +0.79% | +1.47B |
| 2023-03-31 | $29.20B | 9 | -8.65% | -7.82% | -0.84% | -3.92B |
| 2022-12-31 | $29.93B | 10 | +6.83% | +7.56% | -0.74% | -0.60B |
| 2022-09-30 | $28.58B | 10 | -7.77% | -4.93% | -2.85% | -0.57B |
| 2022-06-30 | $31.60B | 13 | -16.23% | -16.11% | -0.12% | +0.74B |