Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-1.61%
trims when stocks drop
when a holding falls −10%+
Middle response
+8.04%
steady accumulation
Rally response
-4.15%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| FFH.TOFairfax Financial Holdin | $32M | 6.7% | +14.9% | 4.0 yr |
| BRK-BBerkshire Hathaway Inc. | $29M | 6.0% | — | 8.5 yr |
| MKLMarkel Corporation | $26M | 5.4% | +2.4% | 8.5 yr |
| GOOGAlphabet Inc. | $18M | 3.9% | +84.3% | 8.5 yr |
| SCHWThe Charles Schwab Corpo | $17M | 3.5% | +21.5% | 5.5 yr |
| FIFiserv, Inc. | $13M | 2.6% | — | 4.0 yr |
| AAPLApple Inc. | $12M | 2.5% | +14.7% | 8.3 yr |
| PEPPepsiCo, Inc. | $12M | 2.5% | +7.7% | 8.5 yr |
| WFCWells Fargo & Company | $11M | 2.3% | +13.3% | 6.5 yr |
| CNNECannae Holdings, Inc. | $11M | 2.3% | -35.7% | 8.0 yr |
| — | $10M | 2.2% | — | 1.0 yr |
| VTRSViatris Inc. | $9M | 1.9% | +62.4% | 5.3 yr |
| HSYThe Hershey Company | $7M | 1.6% | +25.3% | 2.8 yr |
| MAMastercard Incorporated | $7M | 1.5% | -8.5% | 8.5 yr |
| DEODiageo plc | $7M | 1.5% | -27.1% | 3.0 yr |
Portfolio composition (YoY)
Industry mix
Insurance - Property & Casualty12.2%-0.6pp$58M
Insurance - Diversified7.2%-1.3pp$34M
Asset Management6.3%-0.7pp$30M
Financial - Capital Markets5.5%-0.4pp$26M
Internet Content & Information4.9%+1.0pp$23M
Banks - Diversified4.8%-0.9pp$23M
Unknown3.4%+2.2pp$16M
Beverages - Non-Alcoholic3.2%+1.7pp$15M
Entertainment3.1%-1.7pp$15M
Information Technology Services3.0%+0.8pp$14M
Country
US79.2%-2.6pp
CA6.9%+0.0pp
GB4.5%+0.6pp
Unknown3.4%+2.2pp
IE2.1%-0.1pp
BR1.1%+0.2pp
CN1.0%-0.2pp
CH0.9%+0.1pp
Top 5: 25.5% · Top 10: 37.7% · Top 25: 59.9%
Top buys this quarter · 15
| CRM Salesforce, Inc. | +$4M |
| CNNE Cannae Holdings, Inc. | +$3M |
| GEV GE Vernova Inc.new | +$3M |
| ADBE Adobe Inc. | +$3M |
| AIG American International Group, | +$3M |
| FDS FactSet Research Systems Inc.new | +$2M |
| SLB SLB N.V. | +$2M |
| KMB Kimberly-Clark Corporation | +$1M |
| KD Kyndryl Holdings, Inc.new | +$1M |
| FFH.TO Fairfax Financial Holdings Lim | +$32M |
Top sells this quarter · 15
| WBD Warner Bros. Discovery, Inc. | −$12M |
| MU Micron Technology, Inc. | −$5M |
| SBUX Starbucks Corporationexit | −$2M |
| EL The Estée Lauder Companies In | −$1M |
| FBIZ First Business Financial Servi | −$1M |
| SPHR Sphere Entertainment Co. | −$1M |
| T AT&T Inc. | −$1M |
| FN Fabrinetexit | −$0M |
| XOM Exxon Mobil Corporation | −$0M |
| PSKY Paramount Skydance Corporation | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $475M | 153 | +17.96% | +17.59% | +0.37% | +0.00B |
| 2025-12-31 | $489M | 141 | +22.18% | +17.72% | +4.46% | -0.02B |
| 2025-09-30 | $476M | 136 | +20.69% | +17.52% | +3.17% | +0.01B |
| 2025-06-30 | $428M | 135 | +18.48% | +14.94% | +3.53% | +0.00B |
| 2025-03-31 | $395M | 131 | +9.27% | +8.30% | +0.97% | -0.01B |
| 2024-12-31 | $406M | 135 | +7.68% | +24.89% | -17.21% | -0.00B |
| 2024-09-30 | $391M | 134 | +7.60% | +36.04% | -28.43% | +0.00B |
| 2024-06-30 | $365M | 130 | +7.34% | +24.49% | -17.15% | -0.00B |
| 2024-03-31 | $373M | 127 | +15.95% | +29.62% | -13.67% | +0.06B |
| 2023-12-31 | $316M | 126 | +21.71% | +26.18% | -4.47% | +0.02B |
| 2023-09-30 | $286M | 123 | +28.15% | +21.57% | +6.58% | -0.03B |
| 2023-06-30 | $296M | 122 | +8.27% | +19.42% | -11.15% | -0.02B |
| 2023-03-31 | $297M | 122 | -20.50% | -7.82% | -12.68% | +0.02B |
| 2022-12-31 | $267M | 120 | +39.11% | -18.17% | +57.28% | +0.00B |
| 2022-09-30 | $239M | 111 | -10.63% | -4.93% | -5.70% | +0.00B |
| 2022-06-30 | $266M | 123 | -21.65% | -16.11% | -5.53% | +0.01B |