Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+5.66%
adds when stocks drop
when a holding falls −10%+
Middle response
+3.03%
steady accumulation
Rally response
-12.01%
trims into rallies
when a holding rises +10%+
Top positions · 20
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| FCXFreeport-McMoRan Inc. | $545M | 19.1% | +57.4% | 5.0 yr |
| MSFTMicrosoft Corporation | $541M | 18.9% | -0.6% | 6.0 yr |
| AMZNAmazon.com, Inc. | $438M | 15.3% | +9.5% | 6.5 yr |
| NVDANVIDIA Corporation | $245M | 8.6% | +60.9% | 3.3 yr |
| AVGOBroadcom Inc. | $233M | 8.1% | +86.0% | 0.3 yr |
| KREState Street SPDR S&P Re | $114M | 4.0% | — | 0.3 yr |
| LUVSouthwest Airlines Co. | $110M | 3.8% | +14.2% | 2.5 yr |
| GOOGAlphabet Inc. | $94M | 3.3% | +84.3% | 6.3 yr |
| METAMeta Platforms, Inc. | $80M | 2.8% | -0.4% | 5.5 yr |
| DHID.R. Horton, Inc. | $79M | 2.8% | +9.2% | 0.5 yr |
| BACBank of America Corporat | $72M | 2.5% | +19.4% | 3.5 yr |
| MUMicron Technology, Inc. | $65M | 2.3% | +289.6% | 1.3 yr |
| NFLXNetflix, Inc. | $64M | 2.2% | +3.1% | 1.0 yr |
| UNHUnitedHealth Group Incor | $41M | 1.4% | -46.9% | 2.5 yr |
| JPMJPMorgan Chase & Co. | $38M | 1.3% | +21.8% | 0.3 yr |
Portfolio composition (YoY)
Industry mix
Copper19.1%+1.0pp$545M
Semiconductors19.0%+1.6pp$543M
Software - Infrastructure18.9%-13.3pp$541M
Specialty Retail15.5%+5.1pp$444M
Internet Content & Information6.1%-2.4pp$174M
Banks - Diversified4.6%+3.9pp$132M
Asset Management4.0%$114M
Airlines, Airports & Air Services3.8%$110M
Entertainment3.2%+0.7pp$91M
Residential Construction2.8%+0.3pp$79M
Country
US99.8%+2.1pp
IE0.2%-2.1pp
Top 5: 70.0% · Top 10: 86.6% · Top 25: 100.0%
Top buys this quarter · 13
| KRE State Street SPDR S&P Regionalnew | +$0M |
| AVGO Broadcom Inc.new | +$233M |
| MSFT Microsoft Corporation | +$541M |
| AMZN Amazon.com, Inc. | +$91M |
| LUV Southwest Airlines Co. | +$59M |
| NFLX Netflix, Inc. | +$53M |
| DHI D.R. Horton, Inc. | +$47M |
| GOOG Alphabet Inc. | +$41M |
| JPM JPMorgan Chase & Co.new | +$38M |
| CRM Salesforce, Inc.new | +$32M |
Top sells this quarter · 12
| TMUS T-Mobile US, Inc. | −$166M |
| DELL Dell Technologies Inc.exit | −$137M |
| MU Micron Technology, Inc. | −$133M |
| C Citigroup Inc. | −$107M |
| MAR Marriott International, Inc.exit | −$68M |
| AAPL Apple Inc.exit | −$59M |
| NVDA NVIDIA Corporation | −$32M |
| DIS The Walt Disney Company | −$27M |
| FCX Freeport-McMoRan Inc. | −$489M |
| META Meta Platforms, Inc. | −$17M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $2.86B | 20 | +42.86% | +17.59% | +25.27% | +0.27B |
| 2025-12-31 | $2.55B | 17 | +23.73% | +17.72% | +6.01% | +0.15B |
| 2025-09-30 | $2.20B | 15 | +10.20% | +17.52% | -7.31% | +0.23B |
| 2025-06-30 | $1.90B | 18 | +15.33% | +14.94% | +0.39% | +0.36B |
| 2025-03-31 | $1.24B | 15 | +0.55% | +8.30% | -7.75% | +0.43B |
| 2024-12-31 | $927M | 9 | +28.25% | +24.89% | +3.36% | +0.13B |
| 2024-09-30 | $814M | 12 | +57.41% | +36.04% | +21.37% | -0.55B |
| 2024-06-30 | $1.25B | 15 | +39.70% | +24.49% | +15.21% | +0.18B |
| 2024-03-31 | $991M | 16 | +43.31% | +29.62% | +13.69% | -0.19B |
| 2023-12-31 | $1.05B | 17 | +46.15% | +26.18% | +19.97% | +0.21B |
| 2023-09-30 | $704M | 15 | +27.02% | +21.57% | +5.45% | -0.01B |
| 2023-06-30 | $741M | 16 | +30.45% | +19.42% | +11.02% | -0.02B |
| 2023-03-31 | $691M | 14 | -4.74% | -7.82% | +3.08% | +0.42B |
| 2022-12-31 | $234M | 7 | +3.77% | +7.56% | -3.79% | -0.13B |
| 2022-09-30 | $346M | 12 | -0.86% | -4.93% | +4.07% | -0.16B |
| 2022-06-30 | $508M | 20 | -19.02% | -16.11% | -2.91% | -0.54B |