Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+8.63%
adds when stocks drop
when a holding falls −10%+
Middle response
+3.44%
steady accumulation
Rally response
-4.45%
trims into rallies
when a holding rises +10%+
Top positions · 17
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| AERAerCap Holdings N.V. | $428M | 12.8% | +35.6% | 3.8 yr |
| KMIKinder Morgan, Inc. | $354M | 10.6% | +22.6% | 1.3 yr |
| DTMDT Midstream, Inc. | $353M | 10.5% | +43.6% | 1.0 yr |
| FERGFerguson plc | $333M | 9.9% | +47.8% | 1.8 yr |
| NWSANews Corporation | $310M | 9.3% | -7.7% | 5.5 yr |
| CCLCarnival Corporation & p | $241M | 7.2% | +33.1% | 1.3 yr |
| LPXLouisiana-Pacific Corpor | $237M | 7.1% | -19.9% | 2.0 yr |
| CEGConstellation Energy Cor | $227M | 6.8% | +39.2% | 3.5 yr |
| CVXChevron Corporation | $212M | 6.3% | +29.2% | 0.3 yr |
| DISThe Walt Disney Company | $207M | 6.2% | -1.3% | 0.3 yr |
| SITESiteOne Landscape Supply | $140M | 4.2% | +9.6% | 0.8 yr |
| WYWeyerhaeuser Company | $90M | 2.7% | -13.6% | 0.3 yr |
| GPCGenuine Parts Company | $87M | 2.6% | -8.3% | 0.3 yr |
| LLoews Corporation | $49M | 1.5% | +16.4% | 0.3 yr |
| NWSNews Corporation | $44M | 1.3% | -5.5% | 3.5 yr |
Portfolio composition (YoY)
Industry mix
Oil & Gas Midstream21.1%+14.0pp$707M
Entertainment16.7%+1.7pp$561M
Industrial - Distribution14.1%+9.9pp$473M
Rental & Leasing Services12.8%-6.4pp$428M
Paper, Lumber & Forest Products9.8%+1.1pp$327M
Leisure7.2%+4.7pp$241M
Oil & Gas Integrated6.8%$228M
Renewable Utilities6.8%+2.0pp$227M
Specialty Retail2.6%$87M
Insurance - Property & Casualty1.5%$49M
Country
US77.3%+8.7pp
IE12.8%-6.4pp
GB9.9%+5.8pp
Top 5: 53.1% · Top 10: 86.6% · Top 25: 100.0%
Top buys this quarter · 9
| CVX Chevron Corporationnew | +$212M |
| DIS The Walt Disney Companynew | +$207M |
| WY Weyerhaeuser Companynew | +$90M |
| GPC Genuine Parts Companynew | +$87M |
| CEG Constellation Energy Corporati | +$64M |
| L Loews Corporationnew | +$49M |
| CCL Carnival Corporation & plc | +$45M |
| FERG Ferguson plc | +$40M |
| NFG National Fuel Gas Companynew | +$16M |
Top sells this quarter · 10
| IBIT iShares Bitcoin Trust ETFexit | −$0M |
| EXE Expand Energy Corporationexit | −$202M |
| DTM DT Midstream, Inc. | −$58M |
| SITE SiteOne Landscape Supply, Inc. | −$54M |
| LAMR Lamar Advertising Company | −$51M |
| KMI Kinder Morgan, Inc. | −$313M |
| AER AerCap Holdings N.V. | −$26M |
| LPX Louisiana-Pacific Corporation | −$20M |
| NWS News Corporation | −$17M |
| NWSA News Corporation | −$13M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $3.35B | 17 | +19.99% | +17.59% | +2.40% | +0.13B |
| 2025-12-31 | $3.21B | 13 | +15.75% | +17.72% | -1.97% | -0.04B |
| 2025-09-30 | $3.21B | 14 | +9.19% | +17.52% | -8.32% | +0.34B |
| 2025-06-30 | $2.80B | 14 | +13.93% | +14.94% | -1.01% | -0.40B |
| 2025-03-31 | $2.78B | 14 | -0.49% | +8.30% | -8.79% | +0.70B |
| 2024-12-31 | $2.14B | 13 | +21.10% | +24.89% | -3.78% | +0.01B |
| 2024-09-30 | $2.23B | 17 | +47.55% | +36.04% | +11.51% | +0.06B |
| 2024-06-30 | $2.03B | 15 | +42.78% | +24.49% | +18.29% | +0.36B |
| 2024-03-31 | $1.66B | 16 | +64.98% | +29.62% | +35.35% | +0.20B |
| 2023-12-31 | $1.24B | 14 | +42.05% | +26.18% | +15.87% | +0.24B |
| 2023-09-30 | $864M | 11 | +26.96% | +21.57% | +5.39% | -0.04B |
| 2023-06-30 | $876M | 13 | +22.51% | +19.42% | +3.08% | +0.08B |
| 2023-03-31 | $683M | 12 | -15.36% | -7.82% | -7.54% | +0.12B |
| 2022-12-31 | $558M | 14 | +3.96% | +7.56% | -3.60% | +0.17B |
| 2022-09-30 | $374M | 12 | -0.30% | -4.93% | +4.62% | +0.03B |
| 2022-06-30 | $349M | 12 | -19.54% | -16.11% | -3.43% | +0.03B |