Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-0.02%
trims when stocks drop
when a holding falls −10%+
Middle response
-2.77%
baseline attrition
Rally response
-3.64%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| AAPLApple Inc. | $30M | 6.7% | +14.7% | 1.5 yr |
| BRK-BBerkshire Hathaway Inc. | $21M | 4.8% | — | 1.5 yr |
| FTNTFortinet, Inc. | $16M | 3.7% | -15.1% | 1.5 yr |
| JPMJPMorgan Chase & Co. | $15M | 3.4% | +21.8% | 1.5 yr |
| MSFTMicrosoft Corporation | $15M | 3.4% | -0.6% | 1.5 yr |
| JNJJohnson & Johnson | $14M | 3.2% | +51.5% | 1.5 yr |
| TTEKTetra Tech, Inc. | $14M | 3.0% | +3.7% | 1.5 yr |
| ETNEaton Corporation plc | $13M | 2.9% | +33.2% | 1.5 yr |
| GOOGAlphabet Inc. | $9M | 2.1% | +84.3% | 1.5 yr |
| AMZNAmazon.com, Inc. | $9M | 2.0% | +9.5% | 1.5 yr |
| BXBlackstone Inc. | $8M | 1.7% | -14.9% | 1.5 yr |
| CTRECareTrust REIT, Inc. | $7M | 1.6% | +32.1% | 1.5 yr |
| ARCCAres Capital Corporation | $7M | 1.6% | -10.7% | 1.5 yr |
| — | $7M | 1.5% | — | 1.5 yr |
| XOMExxon Mobil Corporation | $6M | 1.4% | +47.6% | 1.5 yr |
Portfolio composition (YoY)
Industry mix
Software - Infrastructure10.5%-0.3pp$47M
Consumer Electronics6.7%+0.1pp$30M
Asset Management6.3%-1.4pp$28M
Insurance - Diversified5.6%-1.0pp$25M
Banks - Diversified5.4%+0.5pp$24M
Drug Manufacturers - General4.7%+0.4pp$21M
Semiconductors4.4%+1.0pp$20M
Industrial - Machinery3.7%+0.4pp$17M
Engineering & Construction3.0%-0.2pp$14M
Oil & Gas Equipment & Services2.9%+1.0pp$13M
Country
US89.2%-2.9pp
IE3.2%+0.7pp
CA2.2%+0.9pp
Unknown1.6%+1.0pp
KY1.1%+0.2pp
CO1.0%-0.6pp
DE0.5%
BR0.5%+0.2pp
Top 5: 22.0% · Top 10: 35.1% · Top 25: 54.7%
Top buys this quarter · 15
| IOT Samsara Inc. | +$2M |
| LULU Lululemon Athletica Inc. | +$1M |
| RKLB Rocket Lab USA, Inc. | +$1M |
| JMIA Jumia Technologies AG | +$1M |
| PDD PDD Holdings Inc. | +$1M |
| GOOG Alphabet Inc. | +$9M |
| TGLS Tecnoglass Inc. | +$5M |
| LB LandBridge Company LLC | +$0M |
| USAR USA Rare Earth Incnew | +$0M |
| STNE StoneCo Ltd. | +$0M |
Top sells this quarter · 15
| ON ON Semiconductor Corporationexit | −$2M |
| LOB Live Oak Bancshares, Inc. | −$2M |
| VTS Vitesse Energy, Inc. | −$2M |
| VLO Valero Energy Corporation | −$5M |
| LOW Lowe's Companies, Inc. | −$1M |
| FTNT Fortinet, Inc. | −$1M |
| CTRE CareTrust REIT, Inc. | −$0M |
| AAPL Apple Inc. | −$0M |
| EXLS ExlService Holdings, Inc. | −$0M |
| ETN Eaton Corporation plc | −$12M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $449M | 258 | +15.46% | +17.59% | -2.13% | -0.01B |
| 2025-12-31 | $459M | 260 | +11.84% | +17.72% | -5.88% | -0.01B |
| 2025-09-30 | $463M | 252 | +7.23% | +8.12% | -0.89% | +0.01B |
| 2025-06-30 | $424M | 234 | +8.02% | +10.78% | -2.75% | -0.03B |
| 2025-03-31 | $423M | 253 | -4.05% | -4.27% | +0.21% | -0.02B |
| 2024-12-31 | $464M | 261 | — | — | — | — |