Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+2.70%
adds when stocks drop
when a holding falls −10%+
Middle response
-4.67%
baseline attrition
Rally response
-6.60%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| VALValaris Limited | $12M | 6.1% | +149.7% | 2.5 yr |
| PBFPBF Energy Inc. | $11M | 5.3% | +159.4% | 2.5 yr |
| NBRNabors Industries Ltd. | $10M | 4.8% | +106.3% | 2.5 yr |
| CRCCalifornia Resources Cor | $6M | 3.2% | +62.5% | 2.5 yr |
| XOMExxon Mobil Corporation | $6M | 3.1% | +47.6% | 2.5 yr |
| NENoble Corporation Plc | $6M | 2.9% | +124.7% | 1.5 yr |
| VGSHVanguard Short-Term Trea | $5M | 2.6% | — | 2.5 yr |
| VGITVanguard Intermediate-Te | $5M | 2.5% | — | 2.5 yr |
| MSFTMicrosoft Corporation | $4M | 2.0% | -0.6% | 2.5 yr |
| OISOil States International | $4M | 2.0% | +126.0% | 2.0 yr |
| TDWTidewater Inc. | $4M | 2.0% | +97.7% | 2.5 yr |
| PYPLPayPal Holdings, Inc. | $4M | 1.9% | -30.3% | 2.5 yr |
| NVONovo Nordisk A/S | $4M | 1.8% | -46.7% | 0.8 yr |
| CNCCentene Corporation | $4M | 1.8% | -46.1% | 0.8 yr |
| DINOHF Sinclair Corporation | $4M | 1.8% | +98.2% | 1.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management14.1%-5.4pp$28M
Oil & Gas Equipment & Services13.5%+2.3pp$27M
Oil & Gas Drilling8.8%+2.6pp$18M
Oil & Gas Refining & Marketing7.7%-0.0pp$15M
Oil & Gas Exploration & Production5.2%-2.3pp$10M
Asset Management - Income4.6%+1.5pp$9M
Oil & Gas Integrated4.6%-0.2pp$9M
Unknown3.3%+0.1pp$7M
Medical - Healthcare Plans3.3%+3.1pp$7M
Gold2.8%+1.4pp$6M
Country
US75.5%-7.3pp
BM10.9%+6.5pp
CA4.3%+0.8pp
Unknown3.3%+0.1pp
GB2.1%-0.3pp
DK1.8%
TW0.6%+0.2pp
JP0.5%-1.3pp
Top 5: 22.5% · Top 10: 34.3% · Top 25: 58.4%
Top buys this quarter · 15
| PYPL PayPal Holdings, Inc. | +$3M |
| DXC DXC Technology Companynew | +$2M |
| MSFT Microsoft Corporation | +$2M |
| NTGR NETGEAR, Inc.new | +$1M |
| BDX Becton, Dickinson and Company | +$1M |
| NVO Novo Nordisk A/S | +$1M |
| NEXT NextDecade Corporationnew | +$1M |
| EXE Expand Energy Corporation | +$0M |
| SBUX Starbucks Corporationnew | +$0M |
| SBSW Sibanye Stillwater Limited | +$0M |
Top sells this quarter · 15
| PBF PBF Energy Inc. | −$18M |
| VAL Valaris Limited | −$9M |
| NE Noble Corporation Plc | −$5M |
| AAPL Apple Inc. | −$1M |
| JNJ Johnson & Johnsonexit | −$1M |
| NBR Nabors Industries Ltd. | −$7M |
| CAT Caterpillar Inc.exit | −$1M |
| DELL Dell Technologies Inc.exit | −$1M |
| COST Costco Wholesale Corporation | −$1M |
| CHRD Chord Energy Corporation | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $200M | 311 | +59.84% | +17.59% | +42.25% | -0.04B |
| 2025-12-31 | $180M | 298 | +14.28% | +17.72% | -3.44% | +0.00B |
| 2025-09-30 | $169M | 289 | +7.25% | +17.52% | -10.27% | -0.01B |
| 2025-06-30 | $161M | 329 | -10.56% | +14.94% | -25.51% | +0.01B |
| 2025-03-31 | $148M | 303 | -17.51% | +8.30% | -25.82% | -0.00B |
| 2024-12-31 | $159M | 312 | -1.04% | +24.89% | -25.93% | +0.00B |
| 2024-09-30 | $162M | 308 | -5.60% | +5.75% | -11.35% | +0.01B |
| 2024-06-30 | $156M | 135 | -4.60% | +4.38% | -8.98% | -0.00B |
| 2024-03-31 | $167M | 135 | +12.66% | +10.39% | +2.27% | +0.01B |
| 2023-12-31 | $142M | 132 | — | — | — | — |