Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-5.00%
trims when stocks drop
when a holding falls −10%+
Middle response
-1.88%
baseline attrition
Rally response
-9.40%
trims into rallies
when a holding rises +10%+
Top positions · 7
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| BRK-BBerkshire Hathaway Inc. | $47M | 34.6% | — | 3.8 yr |
| BRK-ABerkshire Hathaway Inc. | $22M | 15.9% | — | 3.8 yr |
| MAMastercard Incorporated | $20M | 14.8% | -8.5% | 3.8 yr |
| AXPAmerican Express Company | $20M | 14.5% | +13.3% | 3.8 yr |
| MCOMoody's Corporation | $12M | 8.7% | -5.6% | 3.8 yr |
| RACEFerrari N.V. | $10M | 7.4% | -20.3% | 3.8 yr |
| DJCODaily Journal Corporatio | $6M | 4.1% | +21.3% | 3.8 yr |
Portfolio composition (YoY)
Industry mix
Insurance - Diversified50.5%+16.8pp$68M
Financial - Credit Services29.3%-2.2pp$40M
Financial - Data & Stock Exchanges8.7%+4.4pp$12M
Auto - Manufacturers7.4%-0.6pp$10M
Software - Application4.1%+2.5pp$6M
Country
US92.6%+2.7pp
IT7.4%-0.6pp
Top 5: 88.5% · Top 10: 100.0% · Top 25: 100.0%
Top buys this quarter · 0
No buys this quarter
Top sells this quarter · 0
No sells this quarter
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $135M | 7 | +11.75% | +17.59% | -5.85% | +0.01B |
| 2025-12-31 | $148M | 7 | +24.88% | +17.72% | +7.17% | -0.18B |
| 2025-09-30 | $317M | 14 | +22.93% | +17.52% | +5.41% | -0.02B |
| 2025-06-30 | $310M | 14 | +21.66% | +14.94% | +6.72% | -0.03B |
| 2025-03-31 | $294M | 14 | +6.27% | +8.30% | -2.03% | +0.01B |
| 2024-12-31 | $288M | 14 | +30.39% | +24.89% | +5.50% | -0.00B |
| 2024-09-30 | $286M | 14 | +51.62% | +36.04% | +15.58% | +0.00B |
| 2024-06-30 | $263M | 14 | +32.64% | +24.49% | +8.15% | +0.00B |
| 2024-03-31 | $262M | 12 | +43.18% | +29.62% | +13.55% | -0.01B |
| 2023-12-31 | $229M | 12 | +28.07% | +26.18% | +1.89% | -0.01B |
| 2023-09-30 | $203M | 12 | +21.93% | +21.57% | +0.36% | +0.01B |
| 2023-06-30 | $210M | 12 | +7.72% | +8.68% | -0.96% | +0.00B |
| 2023-03-31 | $193M | 12 | +6.42% | +7.46% | -1.04% | -0.00B |
| 2022-12-31 | $186M | 12 | +12.87% | +7.56% | +5.31% | +0.00B |
| 2022-09-30 | $163M | 11 | — | — | — | — |