Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+0.90%
adds when stocks drop
when a holding falls −10%+
Middle response
-2.04%
baseline attrition
Rally response
-1.97%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| AMGNAmgen Inc. | $13M | 8.7% | +16.5% | 9.5 yr |
| SPGIS&P Global Inc. | $11M | 6.9% | -15.6% | 9.5 yr |
| MRKMerck & Co., Inc. | $9M | 5.7% | +38.9% | 9.5 yr |
| CMCSAComcast Corporation | $8M | 5.5% | — | 9.5 yr |
| DISThe Walt Disney Company | $8M | 5.2% | -1.3% | 9.3 yr |
| NDAQNasdaq, Inc. | $7M | 4.9% | +13.3% | 9.5 yr |
| PFEPfizer Inc. | $7M | 4.5% | +18.8% | 9.5 yr |
| SYFSynchrony Financial | $5M | 3.3% | +30.8% | 9.5 yr |
| NVONovo Nordisk A/S | $4M | 2.9% | -46.7% | 9.5 yr |
| BMYBristol-Myers Squibb Com | $4M | 2.9% | +3.4% | 9.5 yr |
| MDTMedtronic plc | $4M | 2.8% | -1.3% | 9.5 yr |
| CCitigroup Inc. | $4M | 2.5% | +63.9% | 5.8 yr |
| CNXCConcentrix Corporation | $4M | 2.4% | -49.4% | 0.8 yr |
| GOOGLAlphabet Inc. | $4M | 2.4% | — | 3.3 yr |
| ABBVAbbVie Inc. | $3M | 2.2% | +7.3% | 6.0 yr |
Portfolio composition (YoY)
Industry mix
Drug Manufacturers - General24.3%+2.9pp$37M
Financial - Data & Stock Exchanges13.7%-3.6pp$21M
Telecommunications Services8.8%-2.7pp$13M
Entertainment5.4%-1.0pp$8M
Banks - Regional5.3%+0.7pp$8M
Medical - Devices5.0%+0.3pp$8M
Financial - Credit Services4.8%-0.9pp$7M
Residential Construction3.7%+1.0pp$6M
Banks - Diversified3.4%-0.1pp$5M
Biotechnology2.9%+0.1pp$4M
Country
US91.1%+1.3pp
DK2.9%+0.1pp
IE2.8%-0.5pp
Unknown2.1%
BE0.6%-0.6pp
CH0.3%-2.2pp
CA0.3%-0.1pp
Top 5: 31.9% · Top 10: 50.4% · Top 25: 80.6%
Top buys this quarter · 12
| FRME First Merchants Corporationnew | +$2M |
| ZBH Zimmer Biomet Holdings, Inc. | +$2M |
| CNXC Concentrix Corporation | +$1M |
| JEF Jefferies Financial Group Inc.new | +$1M |
| KHC The Kraft Heinz Company | +$1M |
| NVO Novo Nordisk A/S | +$4M |
| FFBC First Financial Bancorp.new | +$1M |
| HRB H&R Block, Inc. | +$2M |
| KVUE Kenvue Inc. | +$0M |
| BZH Beazer Homes USA, Inc. | +$3M |
Top sells this quarter · 15
| AMGN Amgen Inc. | −$1M |
| BUD Anheuser-Busch InBev SA/NV | −$1M |
| TGNA TEGNA Inc.exit | −$1M |
| COF Capital One Financial Corporat | −$0M |
| NATR Nature's Sunshine Products, Inexit | −$0M |
| PTEN Patterson-UTI Energy, Inc.exit | −$0M |
| MRK Merck & Co., Inc. | −$8M |
| MDT Medtronic plc | −$0M |
| SYF Synchrony Financial | −$0M |
| SPGI S&P Global Inc. | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $153M | 62 | +3.38% | +17.59% | -14.21% | +0.00B |
| 2025-12-31 | $159M | 63 | +10.08% | +17.72% | -7.63% | +0.00B |
| 2025-09-30 | $152M | 63 | +2.98% | +17.52% | -14.54% | +0.00B |
| 2025-06-30 | $148M | 61 | +8.05% | +14.94% | -6.89% | +0.00B |
| 2025-03-31 | $139M | 62 | +3.59% | +8.30% | -4.72% | -0.00B |
| 2024-12-31 | $142M | 61 | +11.74% | +24.89% | -13.15% | -0.00B |
| 2024-09-30 | $151M | 60 | +29.89% | +36.04% | -6.15% | -0.02B |
| 2024-06-30 | $157M | 62 | +18.31% | +24.49% | -6.18% | -0.01B |
| 2024-03-31 | $165M | 60 | +22.55% | +29.62% | -7.07% | -0.01B |
| 2023-12-31 | $159M | 59 | +15.19% | +26.18% | -10.99% | -0.01B |
| 2023-09-30 | $152M | 60 | +14.39% | +21.57% | -7.18% | -0.01B |
| 2023-06-30 | $162M | 60 | +7.13% | +19.42% | -12.29% | -0.00B |
| 2023-03-31 | $160M | 60 | -9.25% | -7.82% | -1.43% | -0.00B |
| 2022-12-31 | $162M | 58 | +12.09% | +7.56% | +4.53% | -0.00B |
| 2022-09-30 | $147M | 59 | -8.91% | -4.93% | -3.98% | -0.00B |
| 2022-06-30 | $163M | 59 | -12.47% | -16.11% | +3.64% | -0.00B |