Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-17.50%
trims when stocks drop
when a holding falls −10%+
Middle response
-10.36%
baseline attrition
Rally response
-15.23%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| TLNTalen Energy Corporation | $99M | 17.2% | — | 0.5 yr |
| BRK-ABerkshire Hathaway Inc. | $92M | 15.9% | — | 0.5 yr |
| FOXFox Corporation | $31M | 5.4% | — | 0.5 yr |
| HEI-AHEICO Corporation | $31M | 5.4% | — | 0.5 yr |
| INTCIntel Corporation | $28M | 4.9% | — | 0.5 yr |
| NXENexGen Energy Ltd. | $26M | 4.5% | — | 0.5 yr |
| CCJCameco Corporation | $22M | 3.8% | — | 0.5 yr |
| SMCSummit Midstream Corp. | $21M | 3.7% | — | 0.5 yr |
| — | $20M | 3.5% | — | 0.5 yr |
| — | $18M | 3.2% | — | 0.5 yr |
| UAAUnder Armour, Inc. | $15M | 2.6% | — | 0.5 yr |
| CUKCarnival Corporation & p | $14M | 2.4% | — | 0.5 yr |
| GDXJVanEck Junior Gold Miner | $13M | 2.3% | — | 0.3 yr |
| NWSANews Corporation | $12M | 2.0% | — | 0.5 yr |
| YNDXYandex N.V. | $10M | 1.8% | — | 0.3 yr |
Portfolio composition (YoY)
Industry mix
Independent Power Producers17.2%$99M
Insurance - Diversified15.9%$92M
Uranium9.0%$52M
Unknown8.1%$47M
Entertainment7.6%$44M
Aerospace & Defense5.4%$31M
Semiconductors4.9%$28M
Internet Content & Information4.3%$25M
Oil & Gas Midstream3.7%$21M
Software - Application2.7%$16M
Country
US73.6%
CA8.3%
Unknown8.1%
RU1.8%
IT1.8%
GB1.7%
BM1.6%
IE1.5%
Top 5: 48.9% · Top 10: 67.5% · Top 25: 93.3%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Top buys this quarter · 15
| TLN Talen Energy Corporation | +$99M |
| RACE Ferrari N.V.new | +$10M |
| RIO Rio Tinto Groupnew | +$10M |
| INTC Intel Corporation | +$8M |
| LEN Lennar Corporation | +$6M |
| Z Zillow Group, Inc. Class Cnew | +$5M |
| ABUS Arbutus Biopharma Corporationnew | +$4M |
| BIPC Brookfield Infrastructure Corpnew | +$3M |
| UAA Under Armour, Inc. | +$3M |
| STLA Stellantis N.V.new | +$2M |
Top sells this quarter · 15
| CUK Carnival Corporation & plc | −$24M |
| FOX Fox Corporation | −$22M |
| GOOG Alphabet Inc.exit | −$19M |
| NXE NexGen Energy Ltd. | −$11M |
| CCJ Cameco Corporation | −$10M |
| BEP Brookfield Renewable Partners | −$9M |
| BIP Brookfield Infrastructure Partexit | −$8M |
| 0JUJ.L Formula One Group | −$3M |
| ZG Zillow Group, Inc. Class Aexit | −$2M |
| UUUU Energy Fuels Inc. | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $577M | 39 | -5.02% | -4.37% | -0.65% | -0.00B |
| 2025-12-31 | $610M | 36 | — | — | — | — |