Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-16.49%
trims when stocks drop
when a holding falls −10%+
Middle response
-21.93%
baseline attrition
Rally response
-36.42%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| XLIState Street Industrial | $75M | 18.4% | — | 2.0 yr |
| XLYState Street Consumer Di | $17M | 4.2% | — | 1.0 yr |
| XLPState Street Consumer St | $16M | 4.0% | — | 1.8 yr |
| OIHVanEck Oil Services ETF | $14M | 3.4% | — | 0.5 yr |
| KIEState Street SPDR S&P In | $11M | 2.8% | — | 0.8 yr |
| RSPInvesco S&P 500 Equal We | $11M | 2.7% | — | 1.0 yr |
| SPYState Street SPDR S&P 50 | $11M | 2.7% | +17.6% | 2.0 yr |
| VNQVanguard Real Estate ETF | $9M | 2.1% | — | 1.0 yr |
| XLBState Street Materials S | $9M | 2.1% | — | 0.3 yr |
| XLVState Street Health Care | $9M | 2.1% | — | 1.8 yr |
| BAHBooz Allen Hamilton Hold | $6M | 1.5% | -23.5% | 0.8 yr |
| SOXXiShares Semiconductor ET | $5M | 1.1% | — | 0.8 yr |
| DKNGDraftKings Inc. | $4M | 1.0% | -34.9% | 1.0 yr |
| XHBState Street SPDR S&P Ho | $4M | 1.0% | — | 1.3 yr |
| NOCNorthrop Grumman Corpora | $4M | 1.0% | +35.4% | 0.3 yr |
Portfolio composition (YoY)
Industry mix
Asset Management47.2%+3.1pp$192M
Aerospace & Defense6.3%+4.9pp$25M
Software - Application2.6%+1.6pp$10M
Packaging & Containers1.8%-1.5pp$8M
Banks - Regional1.8%+1.4pp$7M
Biotechnology1.8%+1.5pp$7M
Integrated Freight & Logistics1.8%+0.4pp$7M
Medical - Healthcare Plans1.7%+1.5pp$7M
Consulting Services1.7%+1.5pp$7M
Gambling, Resorts & Casinos1.3%+1.2pp$5M
Country
US95.1%-0.5pp
IE1.8%+1.1pp
GB0.9%-0.4pp
IL0.5%+0.3pp
CH0.4%
BM0.3%+0.0pp
Unknown0.3%-1.2pp
MC0.2%
Top 5: 32.8% · Top 10: 44.5% · Top 25: 57.3%
Top buys this quarter · 15
| BAH Booz Allen Hamilton Holding Co | +$6M |
| NOC Northrop Grumman Corporationnew | +$4M |
| ACN Accenture plcnew | +$4M |
| LMT Lockheed Martin Corporationnew | +$4M |
| GD General Dynamics Corporationnew | +$3M |
| GE GE Aerospace | +$3M |
| SARO StandardAero, Inc.new | +$3M |
| RTX RTX Corporation | +$3M |
| DKNG DraftKings Inc. | +$2M |
| SLGN Silgan Holdings Inc. | +$2M |
Top sells this quarter · 15
| SPY State Street SPDR S&P 500 ETF | −$33M |
| F-PD Ford Motor Company 6.500% Note | −$5M |
| RBC RBC Bearings Incorporated | −$4M |
| ILMN Illumina, Inc.exit | −$4M |
| LYV Live Nation Entertainment, Incexit | −$4M |
| WAT Waters Corporationexit | −$4M |
| MTD Mettler-Toledo International Iexit | −$3M |
| DHR Danaher Corporationexit | −$3M |
| BIO Bio-Rad Laboratories, Inc.exit | −$3M |
| MTZ MasTec, Inc.exit | −$2M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $406M | 294 | +11.55% | +17.59% | -6.04% | +0.09B |
| 2025-12-31 | $328M | 219 | +12.61% | +17.72% | -5.11% | -0.26B |
| 2025-09-30 | $568M | 288 | +8.51% | +17.52% | -9.01% | +0.11B |
| 2025-06-30 | $442M | 275 | +16.57% | +14.94% | +1.62% | +0.30B |
| 2025-03-31 | $135M | 194 | +10.55% | +8.30% | +2.25% | -0.05B |
| 2024-12-31 | $187M | 65 | -0.41% | +2.49% | -2.90% | +0.05B |
| 2024-09-30 | $142M | 31 | +11.53% | +5.75% | +5.78% | -0.23B |
| 2024-06-30 | $338M | 55 | +1.19% | +4.38% | -3.19% | +0.26B |
| 2024-03-31 | $80M | 11 | — | — | — | — |