Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-0.77%
trims when stocks drop
when a holding falls −10%+
Middle response
-14.30%
baseline attrition
Rally response
-27.29%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| BSXBoston Scientific Corpor | $6M | 0.8% | -37.8% | 2.5 yr |
| CLFCleveland-Cliffs Inc. | $6M | 0.7% | +2.8% | 2.3 yr |
| OTISOtis Worldwide Corporati | $5M | 0.6% | -23.9% | 0.8 yr |
| BRK-BBerkshire Hathaway Inc. | $5M | 0.6% | — | 2.3 yr |
| BLKBlackRock, Inc. | $5M | 0.6% | +3.7% | 0.8 yr |
| F-PDFord Motor Company 6.500 | $5M | 0.6% | -0.8% | 1.8 yr |
| TPGTPG Inc. | $5M | 0.6% | -11.3% | 1.0 yr |
| DLTRDollar Tree, Inc. | $4M | 0.6% | +45.9% | 1.3 yr |
| MMM3M Company | $4M | 0.6% | +0.7% | 2.0 yr |
| AMAntero Midstream Corpora | $4M | 0.6% | +33.3% | 1.3 yr |
| RKTRocket Companies, Inc. | $4M | 0.6% | +18.1% | 2.8 yr |
| TDGTransDigm Group Incorpor | $4M | 0.6% | -10.5% | 2.0 yr |
| PODDInsulet Corporation | $4M | 0.5% | -20.1% | 1.3 yr |
| WECWEC Energy Group, Inc. | $4M | 0.5% | +9.8% | 1.0 yr |
| CLColgate-Palmolive Compan | $4M | 0.5% | -6.8% | 1.0 yr |
Portfolio composition (YoY)
Industry mix
Biotechnology5.1%+2.3pp$39M
Semiconductors3.8%-0.2pp$29M
Software - Application3.8%-0.1pp$29M
Asset Management3.2%+1.5pp$25M
Regulated Electric3.1%-0.4pp$24M
Software - Infrastructure3.0%-0.4pp$23M
Aerospace & Defense2.9%+0.9pp$23M
Banks - Regional2.8%+0.6pp$22M
Unknown2.8%+2.2pp$22M
Medical - Devices2.3%+0.6pp$18M
Country
US88.1%-7.6pp
Unknown2.8%+2.2pp
GB1.8%+0.7pp
CA1.3%
BR0.9%
IE0.7%-0.1pp
SG0.5%
BM0.4%-0.1pp
Top 5: 3.4% · Top 10: 6.3% · Top 25: 14.0%
Top buys this quarter · 15
| F-PD Ford Motor Company 6.500% Note | +$8M |
| BSX Boston Scientific Corporation | +$5M |
| CLF Cleveland-Cliffs Inc. | +$5M |
| PODD Insulet Corporation | +$4M |
| CBSH Commerce Bancshares, Inc. | +$4M |
| TPG TPG Inc. | +$4M |
| FTNT Fortinet, Inc. | +$4M |
| TDG TransDigm Group Incorporated | +$4M |
| AM Antero Midstream Corporation | +$4M |
| OTIS Otis Worldwide Corporation | +$4M |
Top sells this quarter · 15
| MRNA Moderna, Inc.exit | −$3M |
| EOG EOG Resources, Inc.exit | −$3M |
| MPC Marathon Petroleum Corporationexit | −$3M |
| HON Honeywell International Inc.exit | −$3M |
| PSX Phillips 66exit | −$3M |
| DINO HF Sinclair Corporationexit | −$3M |
| ACHC Acadia Healthcare Company, Inc | −$2M |
| CARR Carrier Global Corporationexit | −$2M |
| PRMB Primo Brands Corporationexit | −$2M |
| JPM JPMorgan Chase & Co. | −$2M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $776M | 971 | +22.18% | +17.59% | +4.59% | +0.32B |
| 2025-12-31 | $443M | 699 | +17.69% | +17.72% | -0.03% | +0.17B |
| 2025-09-30 | $260M | 549 | +14.47% | +17.52% | -3.04% | -0.07B |
| 2025-06-30 | $309M | 544 | +15.01% | +14.94% | +0.07% | +0.05B |
| 2025-03-31 | $249M | 477 | +8.41% | +8.30% | +0.10% | +0.03B |
| 2024-12-31 | $222M | 411 | +15.78% | +24.89% | -9.11% | -0.12B |
| 2024-09-30 | $331M | 413 | +19.81% | +36.04% | -16.23% | -0.12B |
| 2024-06-30 | $426M | 422 | +9.55% | +24.49% | -14.94% | +0.01B |
| 2024-03-31 | $417M | 595 | +13.92% | +29.62% | -15.70% | +0.02B |
| 2023-12-31 | $375M | 620 | +9.70% | +26.18% | -16.48% | +0.07B |
| 2023-09-30 | $284M | 452 | -2.65% | -3.22% | +0.58% | +0.21B |
| 2023-06-30 | $81M | 261 | +3.60% | +8.68% | -5.08% | -0.18B |
| 2023-03-31 | $251M | 465 | +1.65% | +7.46% | -5.81% | +0.11B |
| 2022-12-31 | $143M | 313 | — | — | — | — |