Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-5.70%
trims when stocks drop
when a holding falls −10%+
Middle response
+1.15%
steady accumulation
Rally response
-2.87%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| BANFBancFirst Corporation | $94M | 42.6% | +0.4% | 4.5 yr |
| XOMExxon Mobil Corporation | $56M | 25.6% | +47.6% | 4.3 yr |
| VBRVanguard Small-Cap Value | $14M | 6.3% | — | 4.5 yr |
| BNDVanguard Total Bond Mark | $12M | 5.3% | — | 2.8 yr |
| VOOVanguard S&P 500 ETF | $10M | 4.7% | — | 4.5 yr |
| VTIVanguard Total Stock Mar | $3M | 1.5% | — | 4.5 yr |
| VEAVanguard FTSE Developed | $3M | 1.5% | — | 3.3 yr |
| LEVILevi Strauss & Co. | $3M | 1.4% | +22.0% | 4.5 yr |
| JPSTJPMorgan Ultra-Short Inc | $3M | 1.2% | — | 3.8 yr |
| BIVVanguard Intermediate-Te | $3M | 1.2% | — | 4.5 yr |
| WMTWalmart Inc. | $3M | 1.1% | +42.8% | 4.5 yr |
| OGEOGE Energy Corp. | $2M | 0.8% | +7.5% | 4.5 yr |
| OKEONEOK, Inc. | $2M | 0.7% | -3.8% | 4.0 yr |
| VGSHVanguard Short-Term Trea | $1M | 0.7% | — | 1.8 yr |
| KTOSKratos Defense & Securit | $1M | 0.5% | +137.5% | 3.0 yr |
Portfolio composition (YoY)
Industry mix
Banks - Regional42.6%-6.2pp$94M
Oil & Gas Integrated26.0%+25.1pp$57M
Asset Management15.8%+1.6pp$35M
Asset Management - Bonds6.5%-1.6pp$14M
Apparel - Manufacturers1.4%-0.1pp$3M
Asset Management - Income1.2%$3M
Discount Stores1.1%+0.9pp$3M
Oil & Gas Midstream0.9%-0.5pp$2M
Regulated Electric0.8%-0.1pp$2M
Asset Management - Leveraged0.7%+0.5pp$1M
Country
US99.7%+21.1pp
GB0.2%+0.0pp
AU0.1%
Top 5: 84.5% · Top 10: 91.2% · Top 25: 97.9%
Top buys this quarter · 12
| BANF BancFirst Corporation | +$2M |
| IDXX IDEXX Laboratories, Inc.new | +$0M |
| JNJ Johnson & Johnsonnew | +$0M |
| OKE ONEOK, Inc. | +$0M |
| AVUV Avantis U.S. Small Cap Value Enew | +$0M |
| IVW iShares S&P 500 Growth ETF | +$0M |
| IVE iShares S&P 500 Value ETF | +$0M |
| VXUS Vanguard Total International Snew | +$0M |
| VEA Vanguard FTSE Developed Market | +$0M |
| VGSH Vanguard Short-Term Treasury E | +$0M |
Top sells this quarter · 13
| WMT Walmart Inc. | −$38M |
| CVX Chevron Corporation | −$0M |
| MSFT Microsoft Corporation | −$0M |
| AAPL Apple Inc. | −$0M |
| XOM Exxon Mobil Corporation | −$40M |
| LLY Eli Lilly and Company | −$0M |
| OGE OGE Energy Corp. | −$2M |
| T AT&T Inc. | −$0M |
| JPST JPMorgan Ultra-Short Income ET | −$0M |
| BIV Vanguard Intermediate-Term Bon | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $221M | 41 | +21.08% | +17.59% | +3.49% | -0.05B |
| 2025-12-31 | $237M | 37 | +4.85% | +17.72% | -12.87% | -0.00B |
| 2025-09-30 | $257M | 40 | +20.21% | +17.52% | +2.69% | +0.04B |
| 2025-06-30 | $211M | 39 | +31.73% | +14.94% | +16.79% | -0.00B |
| 2025-03-31 | $196M | 38 | +20.67% | +8.30% | +12.37% | -0.02B |
| 2024-12-31 | $219M | 54 | +21.29% | +24.89% | -3.60% | -0.10B |
| 2024-09-30 | $295M | 53 | +19.56% | +36.04% | -16.48% | +0.05B |
| 2024-06-30 | $210M | 54 | +2.80% | +24.49% | -21.69% | +0.00B |
| 2024-03-31 | $207M | 46 | +9.15% | +29.62% | -20.48% | -0.00B |
| 2023-12-31 | $214M | 52 | +7.59% | +26.18% | -18.59% | +0.01B |
| 2023-09-30 | $196M | 44 | +7.74% | +21.57% | -13.82% | +0.03B |
| 2023-06-30 | $168M | 44 | +3.56% | +19.42% | -15.86% | -0.01B |
| 2023-03-31 | $162M | 41 | -4.28% | -7.82% | +3.54% | -0.00B |
| 2022-12-31 | $170M | 43 | -5.71% | -18.17% | +12.46% | -0.00B |
| 2022-09-30 | $164M | 45 | -5.22% | -4.93% | -0.29% | +0.04B |
| 2022-06-30 | $126M | 45 | -1.60% | -16.11% | +14.51% | -0.02B |