Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+8.64%
adds when stocks drop
when a holding falls −10%+
Middle response
-1.71%
baseline attrition
Rally response
-7.50%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| ABBVAbbVie Inc. | $64M | 28.5% | +7.3% | 1.5 yr |
| ABTAbbott Laboratories | $24M | 10.6% | -21.1% | 1.3 yr |
| FSKFS KKR Capital Corp. | $23M | 10.3% | -42.4% | 1.5 yr |
| AINVApollo Investment Corpor | $7M | 3.1% | — | 1.5 yr |
| VTVanguard Total World Sto | $6M | 2.5% | — | 1.5 yr |
| ARIApollo Commercial Real E | $5M | 2.1% | +19.1% | 1.5 yr |
| GDXJVanEck Junior Gold Miner | $5M | 2.0% | — | 1.5 yr |
| ACREAres Commercial Real Est | $4M | 1.9% | +13.7% | 1.5 yr |
| AAPLApple Inc. | $4M | 1.7% | +14.7% | 1.5 yr |
| NEANuveen AMT-Free Quality | $3M | 1.5% | — | 1.5 yr |
| VTIVanguard Total Stock Mar | $3M | 1.4% | — | 1.5 yr |
| SGOViShares 0-3 Month Treasu | $3M | 1.3% | — | 1.3 yr |
| MQYBlackRock MuniYield Qual | $3M | 1.3% | — | 1.5 yr |
| ACNAccenture plc | $3M | 1.3% | -35.6% | 1.5 yr |
| GPMTGranite Point Mortgage T | $3M | 1.2% | -41.9% | 1.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management31.8%+0.6pp$71M
Drug Manufacturers - General29.6%+3.6pp$66M
Medical - Devices10.6%-2.1pp$24M
REIT - Mortgage5.8%-3.4pp$13M
Asset Management - Income2.6%-2.1pp$6M
Asset Management - Bonds2.4%+1.3pp$5M
Software - Infrastructure2.2%-1.1pp$5M
Oil & Gas Integrated1.7%+0.6pp$4M
Consumer Electronics1.7%+0.1pp$4M
Information Technology Services1.3%-0.8pp$3M
Country
US96.9%+0.1pp
IE1.4%-0.6pp
GB1.2%+0.3pp
CH0.2%+0.1pp
CA0.2%+0.1pp
NO0.1%
Top 5: 55.0% · Top 10: 64.2% · Top 25: 78.5%
Top buys this quarter · 15
| ABBV AbbVie Inc. | +$64M |
| EQNR Equinor ASAnew | +$0M |
| LMT Lockheed Martin Corporationnew | +$0M |
| WMT Walmart Inc.new | +$0M |
| EPD Enterprise Products Partners Lnew | +$0M |
| ABT Abbott Laboratories | +$24M |
| TSSI TSS, Inc.new | +$0M |
| V Visa Inc. | +$0M |
| CCL Carnival Corporation & plc | +$0M |
| BA The Boeing Company | +$0M |
Top sells this quarter · 15
| ARI Apollo Commercial Real Estate | −$4M |
| BXMT Blackstone Mortgage Trust, Inc | −$3M |
| GBDC Golub Capital BDC, Inc. | −$2M |
| AMZN Amazon.com, Inc. | −$1M |
| AAPL Apple Inc. | −$1M |
| FSK FS KKR Capital Corp. | −$1M |
| TDG TransDigm Group Incorporatedexit | −$0M |
| GEV GE Vernova Inc.exit | −$0M |
| NFLX Netflix, Inc.exit | −$0M |
| ISRG Intuitive Surgical, Inc.exit | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $223M | 125 | -4.29% | +17.59% | -21.88% | -0.01B |
| 2025-12-31 | $264M | 141 | +15.51% | +17.72% | -2.21% | +0.01B |
| 2025-09-30 | $260M | 126 | +6.86% | +8.12% | -1.27% | +0.03B |
| 2025-06-30 | $215M | 106 | +0.74% | +10.78% | -10.03% | -0.03B |
| 2025-03-31 | $247M | 105 | +7.97% | -4.27% | +12.24% | +0.00B |
| 2024-12-31 | $226M | 96 | — | — | — | — |