Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-0.34%
trims when stocks drop
when a holding falls −10%+
Middle response
-1.38%
baseline attrition
Rally response
-2.75%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| BAThe Boeing Company | $5.71B | 14.0% | +16.7% | 8.3 yr |
| TAT&T Inc. | $5.20B | 12.8% | +5.9% | 8.3 yr |
| GDGeneral Dynamics Corpora | $4.66B | 11.4% | +27.8% | 8.3 yr |
| HONHoneywell International | $2.91B | 7.1% | +9.0% | 8.3 yr |
| PSNParsons Corporation | $2.72B | 6.7% | -8.5% | 6.8 yr |
| GEGE Aerospace | $2.71B | 6.7% | +42.5% | 2.0 yr |
| DDSDillard's, Inc. | $2.58B | 6.3% | +67.0% | 8.3 yr |
| F-PDFord Motor Company 6.500 | $1.61B | 3.9% | -0.8% | 7.0 yr |
| GEVGE Vernova Inc. | $1.40B | 3.4% | +186.8% | 2.0 yr |
| SRESempra | $1.09B | 2.7% | +40.3% | 8.3 yr |
| DISThe Walt Disney Company | $1.03B | 2.5% | -1.3% | 3.8 yr |
| MMM3M Company | $812M | 2.0% | +0.7% | 5.8 yr |
| WWDWoodward, Inc. | $718M | 1.8% | +97.0% | 2.3 yr |
| ETREntergy Corporation | $585M | 1.4% | +35.0% | 8.3 yr |
| EMREmerson Electric Co. | $571M | 1.4% | +21.5% | 2.5 yr |
Portfolio composition (YoY)
Industry mix
Aerospace & Defense33.9%+1.6pp$13.79B
Telecommunications Services12.8%-1.0pp$5.20B
Industrial - Machinery9.4%-0.9pp$3.83B
Conglomerates9.1%-1.4pp$3.72B
Department Stores6.6%+2.0pp$2.71B
Auto - Manufacturers3.9%+0.1pp$1.61B
Renewable Utilities3.4%+0.6pp$1.40B
Entertainment3.0%-0.1pp$1.23B
Diversified Utilities2.7%+0.2pp$1.09B
Regulated Electric2.4%+0.2pp$981M
Country
US97.4%-1.1pp
IE1.3%+0.4pp
CA0.4%+0.1pp
CL0.4%
GB0.4%+0.1pp
FR0.1%
Top 5: 52.0% · Top 10: 75.1% · Top 25: 93.6%
Top buys this quarter · 14
| PNC The PNC Financial Services Gronew | +$51M |
| F-PD Ford Motor Company 6.500% Note | +$1.61B |
| COF Capital One Financial Corporat | +$483M |
| PSN Parsons Corporation | +$2.72B |
| HUM Humana Inc. | +$181M |
| WHR Whirlpool Corporation | +$139M |
| HP Helmerich & Payne, Inc.new | +$7M |
| SPGI S&P Global Inc. | +$439M |
| FTS Fortis Inc. | +$3M |
| WAT Waters Corporation | +$55M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $40.73B | 64 | +19.71% | +17.59% | +2.12% | -0.88B |
| 2025-12-31 | $41.79B | 64 | +16.05% | +17.72% | -1.67% | -0.94B |
| 2025-09-30 | $43.91B | 63 | +21.49% | +17.52% | +3.97% | -1.03B |
| 2025-06-30 | $41.65B | 64 | +20.10% | +14.94% | +5.16% | -3.02B |
| 2025-03-31 | $39.00B | 64 | +5.12% | +8.30% | -3.18% | -0.83B |
| 2024-12-31 | $41.27B | 64 | +10.57% | +24.89% | -14.32% | -0.74B |
| 2024-09-30 | $41.24B | 62 | +28.25% | +36.04% | -7.78% | -1.21B |
| 2024-06-30 | $39.81B | 60 | +14.65% | +24.49% | -9.84% | +2.91B |
| 2024-03-31 | $36.80B | 55 | +13.77% | +29.62% | -15.85% | -1.27B |
| 2023-12-31 | $37.50B | 57 | +15.15% | +26.18% | -11.03% | -0.90B |
| 2023-09-30 | $32.50B | 57 | +19.11% | +21.57% | -2.46% | -0.16B |
| 2023-06-30 | $34.26B | 51 | +15.24% | +19.42% | -4.18% | -1.71B |
| 2023-03-31 | $36.15B | 51 | +1.68% | -7.82% | +9.50% | -0.86B |
| 2022-12-31 | $36.02B | 51 | +22.21% | +7.56% | +14.65% | -0.11B |
| 2022-09-30 | $29.57B | 50 | -7.76% | -4.93% | -2.83% | +1.06B |
| 2022-06-30 | $30.91B | 50 | -12.20% | -16.11% | +3.91% | -0.47B |