Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+5.86%
adds when stocks drop
when a holding falls −10%+
Middle response
+2.10%
steady accumulation
Rally response
-2.49%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| BRK-BBerkshire Hathaway Inc. | $38M | 10.6% | — | 6.5 yr |
| POSTPost Holdings, Inc. | $33M | 9.0% | -15.0% | 6.5 yr |
| TCAFT. Rowe Price Capital Ap | $30M | 8.2% | — | 2.8 yr |
| MKLMarkel Corporation | $22M | 6.0% | +2.4% | 6.5 yr |
| GOOGLAlphabet Inc. | $21M | 6.0% | — | 4.5 yr |
| AMZNAmazon.com, Inc. | $21M | 5.7% | +9.5% | 4.5 yr |
| TDGTransDigm Group Incorpor | $15M | 4.2% | -10.5% | 6.5 yr |
| DHRDanaher Corporation | $15M | 4.1% | -7.1% | 3.0 yr |
| HEI-AHEICO Corporation | $13M | 3.7% | — | 6.5 yr |
| SPGIS&P Global Inc. | $13M | 3.5% | -15.6% | 4.3 yr |
| ROPRoper Technologies, Inc. | $11M | 3.2% | -39.7% | 1.3 yr |
| JNJJohnson & Johnson | $10M | 2.8% | +51.5% | 6.5 yr |
| CEFSprott Physical Gold and | $9M | 2.5% | — | 6.5 yr |
| VGITVanguard Intermediate-Te | $6M | 1.7% | — | 2.5 yr |
| AMGNAmgen Inc. | $5M | 1.3% | +16.5% | 4.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management14.4%-0.6pp$52M
Insurance - Diversified10.6%-2.0pp$38M
Aerospace & Defense9.9%-0.7pp$36M
Packaged Foods9.0%+1.2pp$33M
Insurance - Property & Casualty7.4%-0.4pp$27M
Specialty Retail6.8%+2.3pp$25M
Internet Content & Information6.1%+2.6pp$22M
Drug Manufacturers - General5.5%+1.0pp$20M
Medical - Diagnostics & Research4.1%+1.3pp$15M
Financial - Data & Stock Exchanges3.5%-0.0pp$13M
Country
US97.1%+3.3pp
CA2.9%-1.9pp
Top 5: 39.8% · Top 10: 61.0% · Top 25: 84.0%
Top buys this quarter · 15
| AMZN Amazon.com, Inc. | +$6M |
| ROP Roper Technologies, Inc. | +$6M |
| POST Post Holdings, Inc. | +$6M |
| PEP PepsiCo, Inc. | +$3M |
| PG The Procter & Gamble Company | +$2M |
| DHR Danaher Corporation | +$15M |
| ETSY Etsy, Inc. | +$2M |
| CVX Chevron Corporation | +$2M |
| SPGI S&P Global Inc. | +$13M |
| AMT American Tower Corporation | +$1M |
Top sells this quarter · 15
| NOMD Nomad Foods Limitedexit | −$4M |
| AVGO Broadcom Inc. | −$1M |
| JPM JPMorgan Chase & Co. | −$1M |
| MTN Vail Resorts, Inc. | −$1M |
| ALL The Allstate Corporation | −$0M |
| SPY State Street SPDR S&P 500 ETF exit | −$0M |
| WPM Wheaton Precious Metals Corp.exit | −$0M |
| HL Hecla Mining Companyexit | −$0M |
| V Visa Inc.exit | −$0M |
| FHN First Horizon Corporationexit | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $361M | 67 | +0.93% | +17.59% | -16.66% | +0.01B |
| 2025-12-31 | $372M | 75 | +6.46% | +17.72% | -11.26% | -0.01B |
| 2025-09-30 | $373M | 80 | +4.52% | +17.52% | -13.00% | +0.02B |
| 2025-06-30 | $347M | 76 | +9.96% | +14.94% | -4.98% | +0.02B |
| 2025-03-31 | $318M | 75 | +7.17% | +8.30% | -1.13% | +0.01B |
| 2024-12-31 | $310M | 78 | +17.23% | +24.89% | -7.65% | +0.01B |
| 2024-09-30 | $306M | 73 | +30.43% | +36.04% | -5.61% | +0.01B |
| 2024-06-30 | $272M | 66 | +19.84% | +24.49% | -4.65% | +0.00B |
| 2024-03-31 | $270M | 66 | +28.67% | +29.62% | -0.95% | +0.01B |
| 2023-12-31 | $240M | 66 | +22.08% | +26.18% | -4.10% | -0.02B |
| 2023-09-30 | $236M | 62 | +27.04% | +21.57% | +5.47% | +0.01B |
| 2023-06-30 | $232M | 61 | +20.99% | +19.42% | +1.56% | +0.02B |
| 2023-03-31 | $201M | 60 | -0.25% | -7.82% | +7.56% | +0.00B |
| 2022-12-31 | $190M | 60 | -7.85% | -18.17% | +10.32% | -0.01B |
| 2022-09-30 | $170M | 190 | -5.49% | -4.93% | -0.56% | +0.00B |
| 2022-06-30 | $179M | 204 | -11.22% | -16.11% | +4.89% | -0.00B |