Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+6.01%
adds when stocks drop
when a holding falls −10%+
Middle response
+0.46%
steady accumulation
Rally response
-1.44%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| MSFTMicrosoft Corporation | $4M | 3.1% | -0.6% | 4.5 yr |
| GOOGLAlphabet Inc. | $4M | 2.6% | — | 4.5 yr |
| — | $3M | 2.2% | — | 0.5 yr |
| DMLPDorchester Minerals, L.P | $3M | 2.1% | +0.1% | 3.3 yr |
| METAMeta Platforms, Inc. | $3M | 2.1% | -0.4% | 4.5 yr |
| ARLPAlliance Resource Partne | $3M | 2.1% | +11.9% | 1.5 yr |
| PAAPlains All American Pipe | $3M | 2.0% | +21.8% | 1.8 yr |
| KRPKimbell Royalty Partners | $3M | 2.0% | +15.8% | 2.8 yr |
| BSMBlack Stone Minerals, L. | $3M | 2.0% | +8.9% | 3.5 yr |
| DKLDelek Logistics Partners | $3M | 1.9% | +27.2% | 2.5 yr |
| EPDEnterprise Products Part | $3M | 1.9% | +18.7% | 4.5 yr |
| 2H2.FTwo Harbors Investment C | $3M | 1.9% | — | 1.5 yr |
| MPLXMPLX Lp | $3M | 1.9% | +15.4% | 4.5 yr |
| WESWestern Midstream Partne | $3M | 1.8% | +10.3% | 1.5 yr |
| PSECProspect Capital Corpora | $2M | 1.8% | -25.0% | 1.8 yr |
Portfolio composition (YoY)
Industry mix
Asset Management17.4%-4.3pp$24M
REIT - Mortgage13.3%+3.0pp$18M
Asset Management - Income13.2%+1.7pp$18M
Software - Infrastructure10.2%+2.0pp$14M
Oil & Gas Midstream9.5%+2.2pp$13M
Software - Application6.5%+0.5pp$9M
Oil & Gas Exploration & Production6.1%+1.4pp$8M
Internet Content & Information5.3%+0.9pp$7M
Unknown3.8%-1.3pp$5M
Medical - Devices3.1%+0.7pp$4M
Country
US95.8%+1.3pp
Unknown3.8%-1.3pp
CH0.4%
Top 5: 12.1% · Top 10: 22.1% · Top 25: 48.3%
Top buys this quarter · 15
| PANW Palo Alto Networks, Inc. | +$1M |
| MSFT Microsoft Corporation | +$4M |
| NOW ServiceNow, Inc. | +$1M |
| ZS Zscaler, Inc. | +$0M |
| WDAY Workday, Inc. | +$1M |
| SNOW Snowflake Inc. | +$1M |
| TTD The Trade Desk, Inc. | +$0M |
| CRWD CrowdStrike Holdings, Inc. | +$1M |
| RDDT Reddit, Inc. | +$0M |
| AFRM Affirm Holdings, Inc. | +$0M |
Top sells this quarter · 15
| PAA Plains All American Pipeline, | −$3M |
| KRP Kimbell Royalty Partners, LP | −$3M |
| EPD Enterprise Products Partners L | −$1M |
| META Meta Platforms, Inc. | −$0M |
| DMLP Dorchester Minerals, L.P. | −$3M |
| ARLP Alliance Resource Partners, L. | −$3M |
| BSM Black Stone Minerals, L.P. | −$3M |
| DKL Delek Logistics Partners, LP | −$3M |
| MPLX MPLX Lp | −$0M |
| WES Western Midstream Partners, LP | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $139M | 90 | +2.75% | +17.59% | -14.84% | -0.01B |
| 2025-12-31 | $165M | 90 | +8.24% | +17.72% | -9.48% | -0.01B |
| 2025-09-30 | $173M | 91 | +10.40% | +17.52% | -7.12% | +0.01B |
| 2025-06-30 | $163M | 91 | +10.27% | +14.94% | -4.67% | -0.01B |
| 2025-03-31 | $157M | 90 | +4.82% | +8.30% | -3.48% | +0.00B |
| 2024-12-31 | $158M | 90 | +15.52% | +24.89% | -9.36% | +0.00B |
| 2024-09-30 | $148M | 90 | +24.74% | +36.04% | -11.30% | -0.15B |
| 2024-06-30 | $300M | 90 | +24.16% | +24.49% | -0.34% | +0.11B |
| 2024-03-31 | $189M | 92 | +31.74% | +29.62% | +2.12% | +0.07B |
| 2023-12-31 | $111M | 90 | +31.40% | +26.18% | +5.22% | -0.01B |
| 2023-09-30 | $107M | 89 | +21.39% | +21.57% | -0.18% | -0.00B |
| 2023-06-30 | $111M | 108 | +16.03% | +19.42% | -3.39% | -0.01B |
| 2023-03-31 | $113M | 117 | -8.19% | -7.82% | -0.37% | -0.02B |
| 2022-12-31 | $121M | 138 | +3.79% | +7.56% | -3.77% | -0.01B |
| 2022-09-30 | $123M | 135 | -4.28% | -4.93% | +0.65% | -0.01B |
| 2022-06-30 | $136M | 136 | -14.39% | -16.11% | +1.72% | -0.02B |