Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-1.31%
trims when stocks drop
when a holding falls −10%+
Middle response
-4.45%
baseline attrition
Rally response
-7.89%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $221M | 7.8% | +60.9% | 6.5 yr |
| AAPLApple Inc. | $195M | 6.9% | +14.7% | 10.5 yr |
| GOOGLAlphabet Inc. | $154M | 5.4% | — | 8.8 yr |
| MSFTMicrosoft Corporation | $151M | 5.3% | -0.6% | 10.5 yr |
| AMZNAmazon.com, Inc. | $111M | 3.9% | +9.5% | 10.5 yr |
| AVGOBroadcom Inc. | $81M | 2.9% | +86.0% | 3.5 yr |
| PEOAdams Natural Resources | $73M | 2.6% | — | 10.5 yr |
| METAMeta Platforms, Inc. | $63M | 2.2% | -0.4% | 10.5 yr |
| JPMJPMorgan Chase & Co. | $60M | 2.1% | +21.8% | 10.5 yr |
| TSLATesla, Inc. | $48M | 1.7% | +43.4% | 5.5 yr |
| LLYEli Lilly and Company | $47M | 1.6% | +12.2% | 6.0 yr |
| BACBank of America Corporat | $45M | 1.6% | +19.4% | 10.3 yr |
| LRCXLam Research Corporation | $43M | 1.5% | +196.1% | 1.5 yr |
| XLVState Street Health Care | $42M | 1.5% | — | 6.0 yr |
| BRK-BBerkshire Hathaway Inc. | $40M | 1.4% | — | 8.8 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors14.6%+5.2pp$413M
Internet Content & Information7.7%+1.3pp$217M
Software - Infrastructure7.0%-0.7pp$198M
Consumer Electronics6.9%-0.6pp$195M
Drug Manufacturers - General6.3%+2.7pp$179M
Asset Management5.5%+2.5pp$156M
Specialty Retail4.9%-0.4pp$139M
Banks - Diversified3.7%-0.0pp$106M
Financial - Credit Services2.4%-1.6pp$68M
Discount Stores2.4%+0.6pp$68M
Country
US98.5%+0.7pp
IE1.2%-0.5pp
BM0.3%
Top 5: 29.3% · Top 10: 40.8% · Top 25: 59.9%
Top buys this quarter · 15
| JBHT J.B. Hunt Transport Services, new | +$23M |
| PEP PepsiCo, Inc. | +$21M |
| PCAR PACCAR Incnew | +$20M |
| ABNB Airbnb, Inc.new | +$20M |
| PFG Principal Financial Group, Incnew | +$19M |
| NUE Nucor Corporationnew | +$14M |
| TRGP Targa Resources Corp.new | +$12M |
| BIIB Biogen Inc. | +$10M |
| PLTR Palantir Technologies Inc. | +$9M |
| NEE NextEra Energy, Inc. | +$9M |
Top sells this quarter · 15
| GE GE Aerospace | −$28M |
| MU Micron Technology, Inc. | −$10M |
| DUK Duke Energy Corporationexit | −$20M |
| BA The Boeing Company | −$19M |
| AIG American International Group, exit | −$19M |
| BKR Baker Hughes Companyexit | −$19M |
| MCO Moody's Corporationexit | −$19M |
| SPG Simon Property Group, Inc. | −$18M |
| ROK Rockwell Automation, Inc.exit | −$18M |
| LRCX Lam Research Corporation | −$15M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $2.84B | 99 | +19.27% | +17.59% | +1.68% | -0.06B |
| 2025-12-31 | $3.01B | 89 | +19.41% | +17.72% | +1.69% | -0.03B |
| 2025-09-30 | $2.97B | 93 | +19.99% | +17.52% | +2.48% | -0.05B |
| 2025-06-30 | $2.79B | 97 | +18.68% | +14.94% | +3.74% | -0.02B |
| 2025-03-31 | $2.51B | 97 | +9.68% | +8.30% | +1.38% | -0.04B |
| 2024-12-31 | $2.64B | 95 | +24.15% | +24.89% | -0.74% | -0.15B |
| 2024-09-30 | $2.72B | 100 | +36.80% | +36.04% | +0.76% | -0.41B |
| 2024-06-30 | $2.93B | 97 | +24.03% | +24.49% | -0.46% | +0.01B |
| 2024-03-31 | $2.82B | 90 | +28.31% | +29.62% | -1.31% | +0.05B |
| 2023-12-31 | $2.53B | 86 | +24.70% | +26.18% | -1.48% | -0.11B |
| 2023-09-30 | $2.34B | 85 | +16.67% | +21.57% | -4.89% | +0.01B |
| 2023-06-30 | $2.40B | 92 | +16.14% | +19.42% | -3.28% | +0.01B |
| 2023-03-31 | $2.23B | 95 | -5.61% | -7.82% | +2.21% | +0.02B |
| 2022-12-31 | $2.09B | 93 | +5.88% | +7.56% | -1.68% | -0.04B |
| 2022-09-30 | $2.00B | 92 | -3.56% | -4.93% | +1.37% | -0.03B |
| 2022-06-30 | $2.10B | 91 | -12.90% | -16.11% | +3.21% | -0.09B |