Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-9.67%
trims when stocks drop
when a holding falls −10%+
Middle response
+1.71%
steady accumulation
Rally response
+1.58%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| TDThe Toronto-Dominion Ban | $158M | 5.6% | +60.9% | 2.0 yr |
| BMOBank of Montreal | $135M | 4.8% | +47.5% | 2.0 yr |
| CNQCanadian Natural Resourc | $131M | 4.6% | +66.0% | 2.0 yr |
| FNVFranco-Nevada Corporatio | $123M | 4.4% | +58.0% | 2.0 yr |
| GOOGAlphabet Inc. | $112M | 4.0% | +84.3% | 2.0 yr |
| VVisa Inc. | $90M | 3.2% | -13.1% | 2.0 yr |
| AVGOBroadcom Inc. | $88M | 3.1% | +86.0% | 2.0 yr |
| BNBrookfield Corporation | $88M | 3.1% | +16.5% | 2.0 yr |
| — | $87M | 3.1% | — | 2.0 yr |
| MSFTMicrosoft Corporation | $83M | 3.0% | -0.6% | 2.0 yr |
| ENBEnbridge Inc. | $82M | 2.9% | +29.3% | 2.0 yr |
| TMOThermo Fisher Scientific | $74M | 2.6% | -0.9% | 2.0 yr |
| QSRRestaurant Brands Intern | $73M | 2.6% | +15.1% | 2.0 yr |
| AMZNAmazon.com, Inc. | $73M | 2.6% | +9.5% | 2.0 yr |
| CMCanadian Imperial Bank o | $69M | 2.4% | +73.0% | 2.0 yr |
Portfolio composition (YoY)
Industry mix
Banks - Diversified19.8%+4.0pp$558M
Asset Management10.0%+1.4pp$282M
Gold6.2%+5.0pp$173M
Internet Content & Information5.3%+1.4pp$149M
Oil & Gas Exploration & Production4.6%+0.1pp$131M
Chemicals - Specialty4.2%+1.2pp$117M
Oil & Gas Midstream4.0%-0.3pp$112M
Unknown3.9%-1.5pp$111M
Semiconductors3.9%+1.6pp$110M
Financial - Credit Services3.5%-1.8pp$98M
Country
US44.9%-2.7pp
CA40.4%+2.8pp
GB5.0%+1.7pp
Unknown3.9%-1.5pp
JP2.2%+2.0pp
DE1.8%-2.4pp
BM0.6%+0.2pp
FR0.3%+0.1pp
Top 5: 23.4% · Top 10: 38.9% · Top 25: 72.5%
Top buys this quarter · 15
| RELX RELX Plc | +$59M |
| MUFG Mitsubishi UFJ Financial Groupnew | +$58M |
| AMZN Amazon.com, Inc. | +$29M |
| WPM Wheaton Precious Metals Corp. | +$25M |
| FNV Franco-Nevada Corporation | +$25M |
| SPGI S&P Global Inc. | +$19M |
| MSFT Microsoft Corporation | +$83M |
| SPOT Spotify Technology S.A. | +$5M |
| AEM Agnico Eagle Mines Limited | +$5M |
| AZN AstraZeneca PLCnew | +$5M |
Top sells this quarter · 15
| GIB CGI Inc. | −$28M |
| ALB Albemarle Corporation | −$3M |
| BMO Bank of Montreal | −$133M |
| CWAN Clearwater Analytics Holdings,exit | −$1M |
| WCN Waste Connections, Inc. | −$1M |
| TJX The TJX Companies, Inc. | −$1M |
| MEOH Methanex Corporation | −$4M |
| EQX Equinox Gold Corp.exit | −$1M |
| VRTX Vertex Pharmaceuticals Incorpo | −$1M |
| CRWD CrowdStrike Holdings, Inc. | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $2.82B | 337 | +18.38% | +17.59% | +0.79% | +0.23B |
| 2025-12-31 | $2.63B | 345 | +20.27% | +17.72% | +2.55% | +0.07B |
| 2025-09-30 | $2.46B | 345 | +12.05% | +17.52% | -5.47% | +0.09B |
| 2025-06-30 | $2.22B | 350 | +14.80% | +14.94% | -0.14% | +0.03B |
| 2025-03-31 | $2.03B | 350 | +0.02% | -4.27% | +4.29% | +0.05B |
| 2024-12-31 | $1.98B | 357 | -2.98% | +2.49% | -5.46% | +0.02B |
| 2024-09-30 | $2.02B | 358 | +9.41% | +5.75% | +3.66% | +0.05B |
| 2024-06-30 | $1.79B | 355 | — | — | — | — |