Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+0.97%
adds when stocks drop
when a holding falls −10%+
Middle response
-0.80%
baseline attrition
Rally response
+0.16%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| DSTLDistillate U.S. Fundamen | $15M | 3.4% | — | 3.3 yr |
| AAPLApple Inc. | $14M | 3.2% | +14.7% | 3.3 yr |
| AMZNAmazon.com, Inc. | $12M | 2.8% | +9.5% | 3.3 yr |
| JPMJPMorgan Chase & Co. | $12M | 2.6% | +21.8% | 3.3 yr |
| LLYEli Lilly and Company | $11M | 2.6% | +12.2% | 3.3 yr |
| HONHoneywell International | $11M | 2.4% | +9.0% | 3.3 yr |
| MSFTMicrosoft Corporation | $9M | 2.1% | -0.6% | 3.3 yr |
| BAThe Boeing Company | $9M | 2.1% | +16.7% | 3.3 yr |
| RTXRTX Corporation | $9M | 1.9% | +48.1% | 3.3 yr |
| GOOGLAlphabet Inc. | $7M | 1.7% | — | 3.3 yr |
| ETEnergy Transfer LP | $7M | 1.6% | +12.1% | 3.3 yr |
| DBMFiMGP DBi Managed Futures | $6M | 1.5% | — | 3.3 yr |
| ABBVAbbVie Inc. | $6M | 1.5% | +7.3% | 3.3 yr |
| VNDAVanda Pharmaceuticals In | $6M | 1.5% | +50.5% | 1.8 yr |
| IBMInternational Business M | $6M | 1.4% | -0.1% | 3.3 yr |
Portfolio composition (YoY)
Industry mix
Asset Management21.3%-1.6pp$93M
Drug Manufacturers - General8.3%+0.3pp$36M
Aerospace & Defense5.1%+1.7pp$23M
Banks - Diversified4.5%+0.4pp$20M
Regulated Electric4.1%-0.6pp$18M
Semiconductors3.4%-0.2pp$15M
Specialty Retail3.4%+0.6pp$15M
Oil & Gas Midstream3.2%+1.6pp$14M
Consumer Electronics3.2%+0.2pp$14M
Software - Infrastructure2.9%-1.2pp$13M
Country
US94.8%+0.3pp
CH1.5%+0.5pp
CA1.4%+0.0pp
IE0.8%-0.1pp
GB0.5%-0.1pp
BM0.4%+0.0pp
BR0.3%+0.1pp
IL0.1%+0.0pp
Top 5: 14.6% · Top 10: 24.9% · Top 25: 44.6%
Top buys this quarter · 15
| CRM Salesforce, Inc.new | +$4M |
| HON Honeywell International Inc. | +$4M |
| LLY Eli Lilly and Company | +$3M |
| NFLX Netflix, Inc.new | +$2M |
| REGN Regeneron Pharmaceuticals, Incnew | +$1M |
| AZN AstraZeneca PLCnew | +$1M |
| LIFE Ethos Technologies Inc.new | +$1M |
| FRT Federal Realty Investment Trusnew | +$1M |
| TLSI TriSalus Life Sciences, Inc. | +$1M |
| ET Energy Transfer LP | +$1M |
Top sells this quarter · 15
| PFE Pfizer Inc. | −$2M |
| ZG Zillow Group, Inc. Class A | −$2M |
| CG The Carlyle Group Inc.exit | −$2M |
| TPL Texas Pacific Land Corporationexit | −$2M |
| AAPL Apple Inc. | −$1M |
| VNDA Vanda Pharmaceuticals Inc. | −$1M |
| TRV The Travelers Companies, Inc. | −$1M |
| BCRX BioCryst Pharmaceuticals, Inc.exit | −$1M |
| FCX Freeport-McMoRan Inc.exit | −$1M |
| MRK Merck & Co., Inc. | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $438M | 209 | +14.09% | +17.59% | -3.50% | +0.00B |
| 2025-12-31 | $456M | 208 | +20.36% | +17.72% | +2.64% | +0.00B |
| 2025-09-30 | $435M | 204 | +14.32% | +17.52% | -3.20% | +0.07B |
| 2025-06-30 | $347M | 196 | +16.38% | +14.94% | +1.44% | -0.00B |
| 2025-03-31 | $324M | 197 | +9.58% | +8.30% | +1.27% | -0.00B |
| 2024-12-31 | $321M | 196 | +19.62% | +24.89% | -5.27% | -0.00B |
| 2024-09-30 | $325M | 203 | +32.92% | +36.04% | -3.12% | -0.00B |
| 2024-06-30 | $302M | 199 | +17.96% | +24.49% | -6.54% | -0.00B |
| 2024-03-31 | $303M | 205 | +21.56% | +29.62% | -8.06% | +0.02B |
| 2023-12-31 | $255M | 190 | +9.91% | +11.64% | -1.73% | +0.00B |
| 2023-09-30 | $229M | 187 | -3.79% | -3.22% | -0.57% | -0.01B |
| 2023-06-30 | $251M | 191 | +4.30% | +8.68% | -4.38% | -0.00B |
| 2023-03-31 | $245M | 189 | — | — | — | — |