Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-1.75%
trims when stocks drop
when a holding falls −10%+
Middle response
-0.73%
baseline attrition
Rally response
-3.51%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| IWViShares Russell 3000 ETF | $25M | 11.7% | — | 6.5 yr |
| JSIJanus Henderson Securiti | $12M | 5.6% | — | 1.5 yr |
| JBBBJanus Henderson B-BBB CL | $12M | 5.6% | — | 4.3 yr |
| IWFiShares Russell 1000 Gro | $12M | 5.4% | — | 6.3 yr |
| GOOGLAlphabet Inc. | $8M | 3.5% | — | 6.5 yr |
| OBDCBlue Owl Capital Corpora | $7M | 3.4% | -17.8% | 2.3 yr |
| AGGiShares Core U.S. Aggreg | $7M | 3.4% | — | 2.5 yr |
| HBANHuntington Bancshares In | $7M | 3.3% | +8.2% | 5.0 yr |
| CSWCCapital Southwest Corpor | $7M | 3.2% | +11.4% | 1.3 yr |
| HRLHormel Foods Corporation | $7M | 3.2% | -23.5% | 6.5 yr |
| SLRCSLR Investment Corp. | $6M | 2.8% | -5.7% | 1.5 yr |
| BAC-PLBank of America Corporat | $6M | 2.8% | — | 1.8 yr |
| LOUPInnovator Deepwater Fron | $6M | 2.8% | — | 6.5 yr |
| BRK-BBerkshire Hathaway Inc. | $4M | 2.0% | — | 6.5 yr |
| IBITiShares Bitcoin Trust ET | $4M | 1.9% | — | 2.3 yr |
Portfolio composition (YoY)
Industry mix
Asset Management48.3%+3.3pp$103M
Asset Management - Income5.6%+0.5pp$12M
Internet Content & Information3.8%+1.0pp$8M
Chemicals - Specialty3.8%+0.7pp$8M
Financial - Credit Services3.5%-0.0pp$8M
Banks - Regional3.3%-0.5pp$7M
Banks - Diversified3.2%-0.4pp$7M
Packaged Foods3.2%-2.6pp$7M
Insurance - Diversified2.6%-0.8pp$6M
Regulated Electric2.0%+0.1pp$4M
Country
US92.3%+0.3pp
BM2.8%-0.4pp
IE2.0%-0.1pp
CA1.6%-0.1pp
CH0.6%-0.0pp
Unknown0.6%+0.2pp
TW0.2%
Top 5: 31.9% · Top 10: 48.3% · Top 25: 76.8%
Top buys this quarter · 15
| TSM Taiwan Semiconductor Manufactunew | +$0M |
| FSLY Fastly, Inc.new | +$0M |
| BE Bloom Energy Corporationnew | +$0M |
| BN Brookfield Corporation | +$4M |
| WULF TeraWulf Inc.new | +$0M |
| SLRC SLR Investment Corp. | +$6M |
| NVDA NVIDIA Corporation | +$0M |
| SPY State Street SPDR S&P 500 ETF | +$3M |
| AER AerCap Holdings N.V. | +$3M |
| AMZN Amazon.com, Inc. | +$2M |
Top sells this quarter · 15
| ALB Albemarle Corporation | −$3M |
| ADBE Adobe Inc.exit | −$0M |
| BEP Brookfield Renewable Partners | −$3M |
| AMT American Tower Corporation | −$0M |
| BIP Brookfield Infrastructure Part | −$3M |
| GPMT Granite Point Mortgage Trust I | −$0M |
| TGT Target Corporation | −$0M |
| OBDC Blue Owl Capital Corporation | −$0M |
| CRM Salesforce, Inc. | −$0M |
| HBAN Huntington Bancshares Incorpor | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $214M | 83 | +6.71% | +17.59% | -10.88% | +0.00B |
| 2025-12-31 | $214M | 75 | +5.45% | +17.72% | -12.26% | -0.00B |
| 2025-09-30 | $212M | 74 | +3.44% | +17.52% | -14.08% | +0.01B |
| 2025-06-30 | $194M | 71 | +10.26% | +14.94% | -4.68% | +0.00B |
| 2025-03-31 | $186M | 73 | +3.22% | +8.30% | -5.08% | +0.01B |
| 2024-12-31 | $183M | 73 | +10.29% | +24.89% | -14.59% | +0.00B |
| 2024-09-30 | $181M | 79 | +15.59% | +36.04% | -20.44% | +0.02B |
| 2024-06-30 | $148M | 73 | -1.35% | +24.49% | -25.84% | +0.00B |
| 2024-03-31 | $149M | 74 | +5.46% | +29.62% | -24.16% | +0.01B |
| 2023-12-31 | $137M | 67 | -0.79% | +26.18% | -26.97% | -0.00B |
| 2023-09-30 | $132M | 66 | -3.78% | +21.57% | -25.35% | +0.00B |
| 2023-06-30 | $141M | 74 | -11.31% | +19.42% | -30.73% | +0.00B |
| 2023-03-31 | $136M | 74 | -27.36% | -7.82% | -19.55% | +0.00B |
| 2022-12-31 | $137M | 70 | -29.06% | -18.17% | -10.89% | -0.02B |
| 2022-09-30 | $148M | 75 | -23.31% | -15.51% | -7.80% | +0.02B |
| 2022-06-30 | $154M | 79 | -10.00% | -10.62% | +0.62% | +0.01B |