Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+1.30%
adds when stocks drop
when a holding falls −10%+
Middle response
-5.42%
baseline attrition
Rally response
-3.85%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| MSMorgan Stanley | $40M | 15.5% | +44.8% | 0.3 yr |
| 0HQN.LCboe Global Markets, Inc | $33M | 13.1% | +26.3% | 4.5 yr |
| MIAXMiami International Hold | $25M | 9.8% | — | 0.8 yr |
| KKRKKR & Co. Inc. | $18M | 7.1% | -19.5% | 4.3 yr |
| BACBank of America Corporat | $17M | 6.5% | +19.4% | 3.8 yr |
| ICEIntercontinental Exchang | $16M | 6.2% | -7.8% | 4.5 yr |
| EFX.TOEnerflex Ltd. | $8M | 3.3% | +164.3% | 0.5 yr |
| CCitigroup Inc. | $8M | 3.2% | +63.9% | 0.3 yr |
| CVECenovus Energy Inc. | $8M | 3.0% | +97.2% | 1.8 yr |
| SIISprott Inc. | $8M | 3.0% | +224.0% | 0.3 yr |
| AEMAgnico Eagle Mines Limit | $7M | 2.8% | +89.2% | 2.0 yr |
| KGCKinross Gold Corporation | $5M | 1.9% | +143.6% | 0.3 yr |
| CCJCameco Corporation | $4M | 1.7% | +164.4% | 2.5 yr |
| — | $3M | 1.1% | — | 0.8 yr |
| LHXL3Harris Technologies, I | $3M | 1.0% | +67.7% | 0.3 yr |
Portfolio composition (YoY)
Industry mix
Financial - Capital Markets25.3%$65M
Financial - Data & Stock Exchanges19.2%-12.4pp$49M
Banks - Diversified11.1%-1.8pp$28M
Asset Management10.1%-6.8pp$26M
Gold4.7%-5.4pp$12M
Oil & Gas Equipment & Services3.7%$10M
Aerospace & Defense3.3%+2.8pp$9M
Oil & Gas Integrated3.0%$8M
Unknown2.2%-4.1pp$6M
Engineering & Construction1.9%-0.3pp$5M
Country
US77.6%+4.1pp
CA19.9%+1.0pp
Unknown2.2%-4.1pp
IE0.2%-0.5pp
Top 5: 52.0% · Top 10: 70.6% · Top 25: 86.9%
Top buys this quarter · 15
| MS Morgan Stanleynew | +$41M |
| C Citigroup Inc.new | +$9M |
| SII Sprott Inc.new | +$8M |
| KGC Kinross Gold Corporationnew | +$5M |
| CVE Cenovus Energy Inc. | +$5M |
| LHX L3Harris Technologies, Inc.new | +$3M |
| RY Royal Bank of Canadanew | +$3M |
| FIX Comfort Systems USA, Inc.new | +$2M |
| PFE Pfizer Inc.new | +$2M |
| OVV Ovintiv Inc.new | +$2M |
Top sells this quarter · 15
| MFC Manulife Financial Corporationexit | −$4M |
| STN Stantec Inc. | −$3M |
| APH Amphenol Corporation | −$3M |
| MIAX Miami International Holdings, | −$3M |
| WCN Waste Connections, Inc. | −$3M |
| JPM JPMorgan Chase & Co. | −$3M |
| BABA Alibaba Group Holding Limitedexit | −$3M |
| AEM Agnico Eagle Mines Limited | −$2M |
| TFII TFI International Inc.exit | −$2M |
| VRT Vertiv Holdings Co | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $255M | 57 | +20.70% | +17.59% | +3.11% | +0.09B |
| 2025-12-31 | $163M | 29 | +24.54% | +17.72% | +6.82% | +0.01B |
| 2025-09-30 | $152M | 26 | +24.71% | +17.52% | +7.19% | +0.03B |
| 2025-06-30 | $115M | 20 | +31.59% | +14.94% | +16.64% | -0.03B |
| 2025-03-31 | $135M | 31 | +22.48% | +8.30% | +14.18% | -0.02B |
| 2024-12-31 | $147M | 33 | +27.72% | +24.89% | +2.83% | +0.00B |
| 2024-09-30 | $143M | 32 | +43.53% | +36.04% | +7.49% | -0.01B |
| 2024-06-30 | $133M | 33 | +30.06% | +24.49% | +5.57% | -0.00B |
| 2024-03-31 | $134M | 34 | +39.77% | +29.62% | +10.15% | -0.01B |
| 2023-12-31 | $130M | 31 | +34.12% | +26.18% | +7.94% | +0.01B |
| 2023-09-30 | $103M | 27 | +26.89% | +21.57% | +5.33% | -0.03B |
| 2023-06-30 | $132M | 29 | +21.14% | +19.42% | +1.71% | +0.02B |
| 2023-03-31 | $101M | 23 | -4.81% | -7.82% | +3.01% | +0.00B |
| 2022-12-31 | $95M | 26 | +9.64% | +7.56% | +2.08% | +0.00B |
| 2022-09-30 | $82M | 26 | -2.19% | -4.93% | +2.73% | -0.02B |
| 2022-06-30 | $100M | 27 | -14.92% | -16.11% | +1.19% | -0.01B |