Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-11.60%
trims when stocks drop
when a holding falls −10%+
Middle response
-26.52%
baseline attrition
Rally response
-16.27%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| ABBVAbbVie Inc. | $57M | 3.0% | +7.3% | 5.0 yr |
| MRKMerck & Co., Inc. | $54M | 2.8% | +38.9% | 1.5 yr |
| CRMSalesforce, Inc. | $40M | 2.1% | -30.2% | 1.5 yr |
| TMUST-Mobile US, Inc. | $37M | 2.0% | -19.9% | 1.8 yr |
| UBERUber Technologies, Inc. | $34M | 1.8% | -1.3% | 1.0 yr |
| CMCSAComcast Corporation | $34M | 1.8% | — | 3.5 yr |
| BKNGBooking Holdings Inc. | $34M | 1.8% | -96.3% | 2.5 yr |
| QCOMQUALCOMM Incorporated | $33M | 1.7% | -14.2% | 1.8 yr |
| ACNAccenture plc | $31M | 1.6% | -35.6% | 2.0 yr |
| ADBEAdobe Inc. | $31M | 1.6% | -36.6% | 1.5 yr |
| ABTAbbott Laboratories | $29M | 1.5% | -21.1% | 0.8 yr |
| CICigna Corporation | $29M | 1.5% | -17.2% | 4.5 yr |
| MPCMarathon Petroleum Corpo | $28M | 1.5% | +71.2% | 1.5 yr |
| MOAltria Group, Inc. | $27M | 1.4% | +15.8% | 3.3 yr |
| PYPLPayPal Holdings, Inc. | $24M | 1.3% | -30.3% | 3.8 yr |
Portfolio composition (YoY)
Industry mix
Software - Application9.6%+7.4pp$182M
Drug Manufacturers - General6.8%-1.2pp$129M
Information Technology Services4.7%+1.8pp$89M
Software - Infrastructure4.5%+2.3pp$85M
Insurance - Brokers4.4%+3.3pp$83M
Telecommunications Services3.8%-0.2pp$71M
Oil & Gas Exploration & Production3.5%+0.7pp$66M
Medical - Devices3.3%+2.1pp$63M
Residential Construction3.3%+0.1pp$62M
Medical - Distribution3.1%+1.9pp$58M
Country
US93.0%-0.6pp
IE5.4%+1.4pp
GB0.9%-0.7pp
Unknown0.6%-0.2pp
BM0.0%
Top 5: 11.7% · Top 10: 20.3% · Top 25: 39.1%
Top buys this quarter · 15
| ZTS Zoetis Inc.new | +$19M |
| DASH DoorDash, Inc.new | +$18M |
| WDAY Workday, Inc.new | +$17M |
| INCY Incyte Corporation | +$17M |
| BWA BorgWarner Inc. | +$17M |
| RDDT Reddit, Inc.new | +$16M |
| ALSN Allison Transmission Holdings,new | +$16M |
| VEEV Veeva Systems Inc.new | +$16M |
| TRU TransUnionnew | +$15M |
| DOCU DocuSign, Inc.new | +$14M |
Top sells this quarter · 15
| JNJ Johnson & Johnsonexit | −$45M |
| BMY Bristol-Myers Squibb Companyexit | −$39M |
| PG The Procter & Gamble Companyexit | −$39M |
| CSCO Cisco Systems, Inc.exit | −$37M |
| AMGN Amgen Inc.exit | −$31M |
| LMT Lockheed Martin Corporationexit | −$30M |
| FDX FedEx Corporationexit | −$29M |
| ABT Abbott Laboratories | −$27M |
| UNP Union Pacific Corporationexit | −$25M |
| UNH UnitedHealth Group Incorporate | −$21M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.90B | 117 | +4.80% | +17.59% | -12.79% | +0.03B |
| 2025-12-31 | $1.94B | 116 | +8.30% | +17.72% | -9.42% | -0.04B |
| 2025-09-30 | $1.93B | 104 | +4.36% | +17.52% | -13.16% | -0.02B |
| 2025-06-30 | $1.87B | 117 | +8.01% | +14.94% | -6.94% | -0.13B |
| 2025-03-31 | $1.95B | 119 | +8.71% | +8.30% | +0.40% | -0.07B |
| 2024-12-31 | $2.04B | 118 | +50.86% | +24.89% | +25.97% | +0.06B |
| 2024-09-30 | $2.00B | 64 | +68.66% | +36.04% | +32.62% | -0.05B |
| 2024-06-30 | $1.89B | 104 | +67.30% | +24.49% | +42.80% | +1.89B |
| 2024-03-31 | $1M | 41 | +59.71% | +29.62% | +30.09% | -0.00B |
| 2023-12-31 | $0M | 35 | +12.20% | +26.18% | -13.97% | +0.00B |
| 2023-09-30 | $0M | 33 | +8.23% | +21.57% | -13.34% | +0.00B |
| 2023-06-30 | $0M | 25 | -2.38% | +19.42% | -21.80% | -0.00B |
| 2023-03-31 | $0M | 31 | -9.64% | -7.82% | -1.82% | -0.00B |
| 2022-12-31 | $1M | 99 | +6.58% | +7.56% | -0.98% | -0.80B |
| 2022-09-30 | $747M | 105 | -3.37% | -4.93% | +1.56% | +0.07B |
| 2022-06-30 | $700M | 105 | -9.23% | -16.11% | +6.88% | +0.06B |