Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-1.54%
trims when stocks drop
when a holding falls −10%+
Middle response
-2.20%
baseline attrition
Rally response
+3.85%
adds into rallies
when a holding rises +10%+
Top positions · 5
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| ENBEnbridge Inc. | $403M | 38.8% | +29.3% | 2.0 yr |
| WMWaste Management, Inc. | $340M | 32.8% | +0.8% | 1.0 yr |
| NHCNational HealthCare Corp | $166M | 16.0% | +75.5% | 1.8 yr |
| OIIOceaneering Internationa | $122M | 11.8% | +62.6% | 0.5 yr |
| NHINational Health Investor | $6M | 0.6% | +13.6% | 0.5 yr |
Portfolio composition (YoY)
Industry mix
Oil & Gas Midstream38.8%-44.3pp$403M
Waste Management32.8%$340M
Medical - Care Facilities16.0%-0.5pp$166M
Oil & Gas Equipment & Services11.8%$122M
REIT - Healthcare Facilities0.6%$6M
Country
US61.2%+44.3pp
CA38.8%-44.3pp
Top 5: 100.0% · Top 10: 100.0% · Top 25: 100.0%
Top buys this quarter · 1
| NHC National HealthCare Corporatio | +$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.04B | 5 | +25.26% | +17.59% | +7.67% | -0.05B |
| 2025-12-31 | $946M | 5 | +11.47% | +17.72% | -6.24% | +0.12B |
| 2025-09-30 | $832M | 3 | +13.65% | +17.52% | -3.87% | -0.02B |
| 2025-06-30 | $808M | 3 | +24.95% | +14.94% | +10.01% | +0.37B |
| 2025-03-31 | $426M | 3 | +2.20% | -4.27% | +6.47% | -0.02B |
| 2024-12-31 | $434M | 2 | +1.41% | +2.49% | -1.08% | -0.02B |
| 2024-09-30 | $445M | 3 | +16.15% | +5.75% | +10.39% | +0.08B |
| 2024-06-30 | $312M | 2 | — | — | — | — |