Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-0.42%
trims when stocks drop
when a holding falls −10%+
Middle response
-0.36%
baseline attrition
Rally response
-1.94%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| BRK-ABerkshire Hathaway Inc. | $738M | 30.7% | — | 4.5 yr |
| JPMJPMorgan Chase & Co. | $302M | 12.6% | +21.8% | 4.5 yr |
| EPDEnterprise Products Part | $138M | 5.7% | +18.7% | 4.5 yr |
| BRK-BBerkshire Hathaway Inc. | $120M | 5.0% | — | 4.5 yr |
| CSCOCisco Systems, Inc. | $96M | 4.0% | +28.1% | 4.5 yr |
| EVREvercore Inc. | $90M | 3.7% | +51.2% | 4.5 yr |
| UTFCohen & Steers Infrastru | $71M | 3.0% | — | 4.5 yr |
| CATCaterpillar Inc. | $71M | 2.9% | +117.8% | 4.5 yr |
| SCHWThe Charles Schwab Corpo | $70M | 2.9% | +21.5% | 3.3 yr |
| YUMYum! Brands, Inc. | $66M | 2.7% | +0.7% | 4.5 yr |
| TRVThe Travelers Companies, | $64M | 2.7% | +12.0% | 4.5 yr |
| EBAYeBay Inc. | $59M | 2.5% | +36.3% | 4.5 yr |
| IBPInstalled Building Produ | $44M | 1.8% | +56.7% | 1.3 yr |
| MSFTMicrosoft Corporation | $41M | 1.7% | -0.6% | 3.8 yr |
| SWKStanley Black & Decker, | $38M | 1.6% | -3.1% | 3.3 yr |
Portfolio composition (YoY)
Industry mix
Insurance - Diversified35.7%-4.0pp$859M
Banks - Diversified12.6%+2.1pp$302M
Financial - Capital Markets6.7%+1.7pp$160M
Oil & Gas Midstream5.7%+0.6pp$138M
Communication Equipment4.7%+1.3pp$113M
Specialty Retail3.5%+1.5pp$85M
Restaurants3.1%-1.3pp$76M
Asset Management3.0%-0.1pp$71M
Agricultural - Machinery2.9%+1.6pp$71M
Insurance - Property & Casualty2.7%+0.3pp$64M
Country
US98.7%+2.0pp
CA1.0%-1.1pp
BM0.2%-0.1pp
Unknown0.1%-0.9pp
Top 5: 58.0% · Top 10: 73.3% · Top 25: 91.7%
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $2.41B | 106 | +16.14% | +17.59% | -1.45% | -0.08B |
| 2025-12-31 | $2.57B | 106 | +19.64% | +17.72% | +1.93% | -0.06B |
| 2025-09-30 | $2.57B | 107 | +20.82% | +17.52% | +3.31% | -0.05B |
| 2025-06-30 | $2.46B | 107 | +23.77% | +14.94% | +8.83% | -0.20B |
| 2025-03-31 | $2.41B | 109 | +8.31% | +8.30% | +0.01% | +0.07B |
| 2024-12-31 | $2.34B | 108 | +19.74% | +24.89% | -5.15% | -0.02B |
| 2024-09-30 | $2.29B | 108 | +30.77% | +36.04% | -5.27% | +0.01B |
| 2024-06-30 | $2.09B | 110 | +18.09% | +24.49% | -6.40% | -0.01B |
| 2024-03-31 | $2.18B | 106 | +29.75% | +29.62% | +0.13% | +0.03B |
| 2023-12-31 | $1.95B | 104 | +21.28% | +26.18% | -4.90% | -0.09B |
| 2023-09-30 | $1.81B | 79 | +22.88% | +21.57% | +1.32% | -0.04B |
| 2023-06-30 | $1.87B | 81 | +16.01% | +19.42% | -3.41% | -0.02B |
| 2023-03-31 | $1.78B | 83 | -4.08% | -7.82% | +3.74% | +0.04B |
| 2022-12-31 | $1.70B | 81 | +14.51% | +7.56% | +6.95% | +0.06B |
| 2022-09-30 | $1.43B | 23 | -7.09% | -4.93% | -2.17% | +0.04B |
| 2022-06-30 | $1.50B | 23 | -12.34% | -16.11% | +3.77% | -0.09B |