Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-1.01%
trims when stocks drop
when a holding falls −10%+
Middle response
-22.12%
baseline attrition
Rally response
-2.14%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| VOOVanguard S&P 500 ETF | $23M | 7.6% | — | 0.5 yr |
| WMTWalmart Inc. | $17M | 5.8% | — | 0.5 yr |
| VEAVanguard FTSE Developed | $15M | 5.1% | — | 0.5 yr |
| TPLTexas Pacific Land Corpo | $11M | 3.6% | — | 0.5 yr |
| VWOVanguard FTSE Emerging M | $9M | 3.0% | — | 0.5 yr |
| IJRiShares Core S&P Small-C | $9M | 2.9% | — | 0.5 yr |
| NXRTNexPoint Residential Tru | $9M | 2.9% | — | 0.3 yr |
| AAPLApple Inc. | $8M | 2.7% | — | 0.5 yr |
| VTVVanguard Value ETF | $8M | 2.6% | — | 0.5 yr |
| JPMJPMorgan Chase & Co. | $6M | 2.1% | — | 0.5 yr |
| AVGOBroadcom Inc. | $6M | 1.9% | — | 0.5 yr |
| SCHMSchwab U.S. Mid-Cap ETF | $5M | 1.7% | — | 0.5 yr |
| GNRState Street SPDR S&P Gl | $5M | 1.7% | — | 0.5 yr |
| AREAlexandria Real Estate E | $5M | 1.7% | — | 0.5 yr |
| MSFTMicrosoft Corporation | $4M | 1.5% | — | 0.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management34.9%$104M
Discount Stores5.8%$17M
Oil & Gas Exploration & Production4.0%$12M
Semiconductors3.9%$11M
REIT - Residential3.3%$10M
Asset Management - Bonds3.3%$10M
Drug Manufacturers - General3.3%$10M
Banks - Diversified3.2%$9M
Consumer Electronics2.7%$8M
Industrial - Machinery2.5%$7M
Country
US94.0%
CA2.9%
IE2.2%
CH0.8%
Unknown0.1%
BR0.1%
CL0.0%
Top 5: 25.1% · Top 10: 38.3% · Top 25: 59.1%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Top buys this quarter · 15
| NXRT NexPoint Residential Trust, Innew | +$9M |
| AVB AvalonBay Communities, Inc.new | +$1M |
| UNH UnitedHealth Group Incorporate | +$1M |
| ZTS Zoetis Inc.new | +$1M |
| JOBY Joby Aviation, Inc.new | +$0M |
| HBAN Huntington Bancshares Incorpornew | +$0M |
| SLB SLB N.V.new | +$0M |
| PCT PureCycle Technologies, Inc. | +$0M |
| TRGP Targa Resources Corp.new | +$0M |
| VNOM Viper Energy, Inc.new | +$0M |
Top sells this quarter · 15
| ARE Alexandria Real Estate Equitie | −$16M |
| TPL Texas Pacific Land Corporation | −$7M |
| MDT Medtronic plc | −$1M |
| SII Sprott Inc. | −$3M |
| IRT Independence Realty Trust, Inc | −$1M |
| TGT Target Corporationexit | −$0M |
| EQT EQT Corporationexit | −$0M |
| C Citigroup Inc.exit | −$0M |
| TOL Toll Brothers, Inc.exit | −$0M |
| MUR Murphy Oil Corporation | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $297M | 176 | +4.52% | -4.37% | +8.89% | -0.01B |
| 2025-12-31 | $292M | 169 | — | — | — | — |