Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+1.24%
adds when stocks drop
when a holding falls −10%+
Middle response
-0.61%
baseline attrition
Rally response
-1.72%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| BRK-BBerkshire Hathaway Inc. | $8M | 4.7% | — | 5.5 yr |
| SCHWThe Charles Schwab Corpo | $7M | 3.9% | +21.5% | 5.5 yr |
| ASTSAST SpaceMobile, Inc. | $6M | 3.7% | +264.4% | 4.8 yr |
| GOOGAlphabet Inc. | $6M | 3.5% | +84.3% | 5.5 yr |
| GBILGoldman Sachs Access Tre | $5M | 3.1% | — | 3.3 yr |
| AAPLApple Inc. | $5M | 3.0% | +14.7% | 5.5 yr |
| PGRThe Progressive Corporat | $5M | 2.8% | -25.5% | 5.5 yr |
| IBPInstalled Building Produ | $5M | 2.7% | +56.7% | 1.3 yr |
| ADIAnalog Devices, Inc. | $4M | 2.5% | +60.2% | 5.5 yr |
| SGISomnigroup International | $4M | 2.5% | +24.4% | 5.5 yr |
| NVDANVIDIA Corporation | $4M | 2.5% | +60.9% | 5.5 yr |
| THOThor Industries, Inc. | $4M | 2.4% | +7.8% | 5.5 yr |
| BKNGBooking Holdings Inc. | $4M | 2.3% | -96.3% | 5.5 yr |
| AXPAmerican Express Company | $4M | 2.1% | +13.3% | 5.5 yr |
| MSFTMicrosoft Corporation | $3M | 2.0% | -0.6% | 5.5 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors9.0%+3.6pp$15M
Insurance - Property & Casualty7.4%-0.0pp$13M
Asset Management6.9%+2.0pp$12M
Financial - Capital Markets4.9%+0.3pp$9M
Insurance - Diversified4.7%-1.3pp$8M
Communication Equipment4.3%+2.0pp$7M
Internet Content & Information4.3%-0.0pp$7M
Household & Personal Products4.1%-0.9pp$7M
Residential Construction4.0%+1.2pp$7M
Financial - Credit Services3.1%-1.0pp$5M
Country
US91.0%-0.8pp
CA3.8%+0.5pp
IE2.4%-0.4pp
Unknown0.9%+0.5pp
SG0.8%+0.6pp
BR0.6%+0.1pp
CH0.3%
TW0.2%
Top 5: 18.9% · Top 10: 32.4% · Top 25: 58.4%
Top buys this quarter · 15
| KNSL Kinsale Capital Group, Inc.new | +$2M |
| MKL Markel Corporation | +$1M |
| GOOG Alphabet Inc. | +$1M |
| BN Brookfield Corporation | +$1M |
| QSR Restaurant Brands Internationanew | +$1M |
| CMI Cummins Inc. | +$0M |
| CSGP CoStar Group, Inc. | +$0M |
| NOW ServiceNow, Inc. | +$0M |
| CCOI Cogent Communications Holdings | +$0M |
| AMT American Tower Corporation | +$0M |
Top sells this quarter · 15
| ADI Analog Devices, Inc. | −$2M |
| GLW Corning Incorporated | −$2M |
| ASTS AST SpaceMobile, Inc. | −$6M |
| ENB Enbridge Inc.exit | −$1M |
| HSY The Hershey Companyexit | −$1M |
| CTVA Corteva, Inc.exit | −$1M |
| AEM Agnico Eagle Mines Limited | −$1M |
| AMZN Amazon.com, Inc. | −$1M |
| GEHC GE HealthCare Technologies Incexit | −$0M |
| SSNC SS&C Technologies Holdings, Inexit | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $172M | 126 | +14.93% | +17.59% | -2.67% | +0.00B |
| 2025-12-31 | $179M | 136 | +17.99% | +17.72% | +0.27% | -0.00B |
| 2025-09-30 | $179M | 133 | +14.97% | +17.52% | -2.55% | -0.01B |
| 2025-06-30 | $171M | 126 | +16.29% | +14.94% | +1.35% | -0.01B |
| 2025-03-31 | $159M | 121 | +3.64% | +8.30% | -4.66% | +0.01B |
| 2024-12-31 | $157M | 118 | +16.78% | +24.89% | -8.11% | -0.01B |
| 2024-09-30 | $163M | 115 | +32.77% | +36.04% | -3.27% | +0.00B |
| 2024-06-30 | $146M | 110 | +14.89% | +24.49% | -9.60% | +0.00B |
| 2024-03-31 | $146M | 106 | +22.66% | +29.62% | -6.96% | -0.01B |
| 2023-12-31 | $141M | 108 | +21.82% | +26.18% | -4.36% | -0.00B |
| 2023-09-30 | $126M | 103 | +16.40% | +21.57% | -5.17% | +0.00B |
| 2023-06-30 | $130M | 102 | +14.60% | +19.42% | -4.83% | +0.00B |
| 2023-03-31 | $124M | 104 | -5.29% | -7.82% | +2.53% | +0.01B |
| 2022-12-31 | $109M | 95 | +8.37% | +7.56% | +0.81% | -0.00B |
| 2022-09-30 | $105M | 98 | -6.57% | -4.93% | -1.64% | +0.00B |
| 2022-06-30 | $112M | 98 | -13.07% | -16.11% | +3.04% | -0.00B |