Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+4.99%
adds when stocks drop
when a holding falls −10%+
Middle response
+1.78%
steady accumulation
Rally response
+2.60%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| AAPLApple Inc. | $54M | 10.4% | +14.7% | 4.0 yr |
| RSPInvesco S&P 500 Equal We | $36M | 6.9% | — | 0.5 yr |
| ALSNAllison Transmission Hol | $35M | 6.7% | +23.8% | 3.5 yr |
| GOOGLAlphabet Inc. | $35M | 6.7% | — | 3.8 yr |
| AMZNAmazon.com, Inc. | $34M | 6.5% | +9.5% | 4.0 yr |
| NRPNatural Resource Partner | $28M | 5.5% | +20.0% | 2.0 yr |
| MSFTMicrosoft Corporation | $26M | 4.9% | -0.6% | 4.0 yr |
| BRK-BBerkshire Hathaway Inc. | $24M | 4.6% | — | 3.8 yr |
| SPYState Street SPDR S&P 50 | $19M | 3.7% | +17.6% | 4.0 yr |
| VVisa Inc. | $17M | 3.2% | -13.1% | 4.0 yr |
| ORLYO'Reilly Automotive, Inc | $14M | 2.6% | -3.4% | 4.0 yr |
| AZOAutoZone, Inc. | $14M | 2.6% | -11.4% | 4.0 yr |
| MKLMarkel Corporation | $13M | 2.5% | +2.4% | 4.0 yr |
| GSThe Goldman Sachs Group, | $12M | 2.4% | +58.1% | 4.0 yr |
| MCDMcDonald's Corporation | $11M | 2.2% | +1.8% | 4.0 yr |
Portfolio composition (YoY)
Industry mix
Asset Management12.7%+10.3pp$66M
Specialty Retail12.0%-1.5pp$63M
Consumer Electronics10.4%-0.3pp$54M
Internet Content & Information8.9%+2.7pp$46M
Auto - Parts6.7%+0.3pp$35M
Financial - Credit Services5.5%-1.7pp$29M
Coal5.5%+1.2pp$28M
Software - Infrastructure4.9%-0.7pp$26M
Insurance - Diversified4.6%+0.1pp$24M
Semiconductors3.4%+1.1pp$18M
Country
US97.6%-0.1pp
NL2.1%+0.5pp
UY0.2%-0.0pp
CA0.1%-0.1pp
Top 5: 37.2% · Top 10: 59.1% · Top 25: 88.5%
Top buys this quarter · 15
| C Citigroup Inc. | +$4M |
| AAPL Apple Inc. | +$54M |
| FICO Fair Isaac Corporation | +$9M |
| META Meta Platforms, Inc. | +$3M |
| NRG NRG Energy, Inc. | +$3M |
| MSFT Microsoft Corporation | +$26M |
| NRP Natural Resource Partners L.P. | +$2M |
| ORLY O'Reilly Automotive, Inc. | +$2M |
| V Visa Inc. | +$17M |
| AMZN Amazon.com, Inc. | +$34M |
Top sells this quarter · 15
| DE Deere & Company | −$2M |
| MA Mastercard Incorporated | −$2M |
| LLY Eli Lilly and Company | −$2M |
| TXN Texas Instruments Incorporatedexit | −$1M |
| SPY State Street SPDR S&P 500 ETF | −$1M |
| UNH UnitedHealth Group Incorporate | −$1M |
| SHOP Shopify Inc. | −$1M |
| INTU Intuit Inc.exit | −$0M |
| SBUX Starbucks Corporation | −$0M |
| WFC Wells Fargo & Company | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $521M | 83 | +7.36% | +17.59% | -10.23% | +0.06B |
| 2025-12-31 | $489M | 77 | +11.35% | +17.72% | -6.37% | +0.01B |
| 2025-09-30 | $465M | 81 | +12.75% | +17.52% | -4.77% | +0.01B |
| 2025-06-30 | $427M | 83 | +15.86% | +14.94% | +0.92% | -0.00B |
| 2025-03-31 | $406M | 89 | +13.66% | +8.30% | +5.36% | +0.03B |
| 2024-12-31 | $384M | 85 | +24.89% | +24.89% | +0.00% | +0.00B |
| 2024-09-30 | $369M | 93 | +36.52% | +36.04% | +0.48% | +0.01B |
| 2024-06-30 | $329M | 84 | +19.76% | +24.49% | -4.73% | -0.00B |
| 2024-03-31 | $320M | 82 | +25.36% | +29.62% | -4.26% | +0.02B |
| 2023-12-31 | $277M | 83 | +34.70% | +26.18% | +8.53% | -0.03B |
| 2023-09-30 | $276M | 88 | +13.12% | +7.45% | +5.67% | +0.05B |
| 2023-06-30 | $243M | 88 | +1.74% | -6.86% | +8.60% | +0.00B |
| 2023-03-31 | $220M | 93 | +15.59% | +7.46% | +8.13% | +0.02B |
| 2022-09-30 | $173M | 114 | -5.15% | -4.93% | -0.22% | +0.01B |
| 2022-06-30 | $175M | 106 | -14.57% | -16.11% | +1.54% | +0.02B |
| 2022-03-31 | $177M | 114 | — | — | — | — |