Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-1.35%
trims when stocks drop
when a holding falls −10%+
Middle response
-2.11%
baseline attrition
Rally response
-4.21%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| GEVGE Vernova Inc. | $79M | 5.3% | +186.8% | 2.0 yr |
| BRK-ABerkshire Hathaway Inc. | $79M | 5.2% | — | 10.5 yr |
| TJXThe TJX Companies, Inc. | $77M | 5.1% | +32.7% | 10.5 yr |
| RSGRepublic Services, Inc. | $74M | 4.9% | -8.9% | 10.5 yr |
| ASMLASML Holding N.V. | $73M | 4.8% | +100.9% | 10.5 yr |
| AAPLApple Inc. | $67M | 4.5% | +14.7% | 10.5 yr |
| GOOGAlphabet Inc. | $60M | 4.0% | +84.3% | 9.5 yr |
| AMZNAmazon.com, Inc. | $60M | 3.9% | +9.5% | 9.5 yr |
| ACGLArch Capital Group Ltd. | $51M | 3.4% | -0.2% | 10.5 yr |
| MSFTMicrosoft Corporation | $47M | 3.1% | -0.6% | 10.5 yr |
| AVGOBroadcom Inc. | $43M | 2.8% | +86.0% | 5.0 yr |
| REEverest Re Group, Ltd. | $42M | 2.8% | — | 10.5 yr |
| AEMAgnico Eagle Mines Limit | $38M | 2.5% | +89.2% | 6.0 yr |
| CCJCameco Corporation | $37M | 2.4% | +164.4% | 10.5 yr |
| COSTCostco Wholesale Corpora | $33M | 2.2% | +5.9% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors12.9%+5.9pp$195M
Insurance - Diversified8.6%-2.2pp$130M
Internet Content & Information5.8%-1.0pp$88M
Renewable Utilities5.3%+2.8pp$79M
Apparel - Retail5.1%+0.4pp$77M
Waste Management4.9%-2.0pp$74M
Consumer Electronics4.5%-0.3pp$67M
Drug Manufacturers - General4.4%+0.2pp$66M
Aerospace & Defense4.1%+1.4pp$62M
Specialty Retail3.9%-0.1pp$60M
Country
US82.3%+0.2pp
BM6.2%-2.0pp
CA5.8%-0.1pp
NL4.8%+1.8pp
UY0.5%+0.3pp
GB0.2%-0.0pp
FR0.1%-0.0pp
Top 5: 25.3% · Top 10: 44.1% · Top 25: 73.4%
Top buys this quarter · 9
| MRVL Marvell Technology, Inc. | +$10M |
| NOW ServiceNow, Inc.new | +$6M |
| BA The Boeing Company | +$4M |
| UBER Uber Technologies, Inc. | +$4M |
| AEM Agnico Eagle Mines Limited | +$2M |
| VEEV Veeva Systems Inc. | +$10M |
| T AT&T Inc. | +$1M |
| SPRY ARS Pharmaceuticals, Inc. | +$6M |
| MRVI Maravai LifeSciences Holdings, | +$5M |
Top sells this quarter · 15
| GOOG Alphabet Inc. | −$24M |
| MSFT Microsoft Corporation | −$20M |
| EXPE Expedia Group, Inc. | −$16M |
| ASML ASML Holding N.V. | −$66M |
| GEV GE Vernova Inc. | −$65M |
| ACGL Arch Capital Group Ltd. | −$7M |
| TJX The TJX Companies, Inc. | −$6M |
| THC Tenet Healthcare Corporationexit | −$6M |
| CRM Salesforce, Inc.exit | −$6M |
| CCJ Cameco Corporation | −$36M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.51B | 68 | +31.99% | +17.59% | +14.40% | -0.12B |
| 2025-12-31 | $1.61B | 68 | +27.25% | +17.72% | +9.54% | -0.06B |
| 2025-09-30 | $1.60B | 67 | +23.53% | +17.52% | +6.02% | -0.05B |
| 2025-06-30 | $1.49B | 64 | +15.48% | +14.94% | +0.54% | -0.02B |
| 2025-03-31 | $1.35B | 63 | +10.37% | +8.30% | +2.07% | -0.03B |
| 2024-12-31 | $1.40B | 62 | +23.93% | +24.89% | -0.96% | -0.06B |
| 2024-09-30 | $1.44B | 70 | +36.97% | +36.04% | +0.94% | -0.01B |
| 2024-06-30 | $1.40B | 70 | +29.24% | +24.49% | +4.74% | -0.04B |
| 2024-03-31 | $1.35B | 70 | +31.23% | +29.62% | +1.61% | +0.01B |
| 2023-12-31 | $1.21B | 66 | +29.64% | +26.18% | +3.47% | -0.04B |
| 2023-09-30 | $1.12B | 68 | +25.50% | +21.57% | +3.93% | -0.00B |
| 2023-06-30 | $1.15B | 65 | +27.00% | +19.42% | +7.58% | -0.00B |
| 2023-03-31 | $1.06B | 62 | -1.67% | -7.82% | +6.14% | -0.05B |
| 2022-12-31 | $1.02B | 58 | +8.31% | +7.56% | +0.75% | -0.02B |
| 2022-09-30 | $961M | 61 | -1.29% | -4.93% | +3.64% | -0.02B |
| 2022-06-30 | $995M | 61 | -15.54% | -16.11% | +0.57% | -0.04B |