Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-3.82%
trims when stocks drop
when a holding falls −10%+
Middle response
-6.97%
baseline attrition
Rally response
-12.02%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| CNHICNH Industrial N.V. | $222M | 17.6% | — | 7.8 yr |
| IONSIonis Pharmaceuticals, I | $171M | 13.6% | +148.9% | 4.3 yr |
| KOFCoca-Cola FEMSA, S.A.B. | $114M | 9.1% | +11.4% | 10.5 yr |
| BRK-ABerkshire Hathaway Inc. | $103M | 8.2% | — | 10.5 yr |
| GOOGLAlphabet Inc. | $57M | 4.5% | — | 10.5 yr |
| JNJJohnson & Johnson | $54M | 4.3% | +51.5% | 10.5 yr |
| BRK-BBerkshire Hathaway Inc. | $47M | 3.7% | — | 10.5 yr |
| WFCWells Fargo & Company | $41M | 3.3% | +13.3% | 10.5 yr |
| ALVAutoliv, Inc. | $40M | 3.2% | +22.4% | 6.3 yr |
| NVSTEnvista Holdings Corp | $36M | 2.9% | +47.0% | 2.3 yr |
| FDXFedEx Corporation | $26M | 2.1% | +49.3% | 4.0 yr |
| TFCTruist Financial Corpora | $26M | 2.0% | +17.1% | 5.8 yr |
| UNFUniFirst Corporation | $26M | 2.0% | +45.6% | 5.8 yr |
| UHAL-BU-Haul Holding Company | $21M | 1.6% | — | 3.0 yr |
| AXPAmerican Express Company | $19M | 1.5% | +13.3% | 10.0 yr |
Portfolio composition (YoY)
Industry mix
Agricultural - Machinery17.8%+3.2pp$224M
Biotechnology15.9%+6.3pp$200M
Insurance - Diversified11.9%-4.1pp$150M
Beverages - Non-Alcoholic9.1%-1.3pp$114M
Banks - Diversified5.4%-0.9pp$68M
Drug Manufacturers - General4.7%-2.0pp$60M
Internet Content & Information4.5%-4.9pp$57M
Auto - Parts3.5%+0.1pp$43M
Medical - Equipment & Services2.9%+0.6pp$36M
Banks - Regional2.6%+0.3pp$33M
Country
US64.8%-2.9pp
GB18.2%+3.0pp
MX9.1%-1.3pp
SE3.2%-0.2pp
Unknown2.2%-0.2pp
IE0.9%
FR0.8%+0.1pp
KR0.3%+0.3pp
Top 5: 53.0% · Top 10: 70.3% · Top 25: 90.6%
Top buys this quarter · 15
| JAZZ Jazz Pharmaceuticals plcnew | +$11M |
| SNEX StoneX Group Inc. | +$3M |
| KT KT Corporation | +$2M |
| CI Cigna Corporationnew | +$1M |
| ABG Asbury Automotive Group, Inc.new | +$1M |
| HAFN Hafnia Limited | +$1M |
| ALLY Ally Financial Inc.new | +$1M |
| LKQ LKQ Corporationnew | +$1M |
| NTR Nutrien Ltd. | +$1M |
| TRMD TORM plc | +$1M |
Top sells this quarter · 15
| IONS Ionis Pharmaceuticals, Inc. | −$14M |
| FDX FedEx Corporation | −$14M |
| JNJ Johnson & Johnson | −$49M |
| WFC Wells Fargo & Company | −$3M |
| ATMU Atmus Filtration Technologies exit | −$2M |
| BK The Bank of New York Mellon Co | −$2M |
| EPD Enterprise Products Partners L | −$2M |
| GM General Motors Companyexit | −$2M |
| KOF Coca-Cola FEMSA, S.A.B. de C.V | −$113M |
| ALV Autoliv, Inc. | −$2M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.26B | 93 | +40.64% | +17.59% | +23.05% | +0.00B |
| 2025-12-31 | $1.24B | 96 | +39.75% | +17.72% | +22.03% | -0.04B |
| 2025-09-30 | $1.15B | 97 | +16.04% | +17.52% | -1.48% | -0.09B |
| 2025-06-30 | $1.08B | 91 | +4.63% | +14.94% | -10.31% | -0.15B |
| 2025-03-31 | $1.13B | 59 | -6.28% | +8.30% | -14.58% | -0.37B |
| 2024-12-31 | $1.48B | 43 | -4.16% | +24.89% | -29.04% | -0.45B |
| 2024-09-30 | $2.10B | 43 | +14.92% | +36.04% | -21.12% | -0.15B |
| 2024-06-30 | $2.17B | 44 | +8.47% | +24.49% | -16.02% | +0.10B |
| 2024-03-31 | $2.13B | 45 | +13.65% | +29.62% | -15.98% | +0.02B |
| 2023-12-31 | $2.05B | 45 | +13.46% | +26.18% | -12.72% | -0.01B |
| 2023-09-30 | $1.87B | 47 | +11.01% | +21.57% | -10.56% | +0.01B |
| 2023-06-30 | $1.91B | 46 | +8.94% | +19.42% | -10.49% | +0.03B |
| 2023-03-31 | $1.84B | 44 | -2.21% | -7.82% | +5.61% | -0.10B |
| 2022-12-31 | $1.88B | 45 | +7.94% | +7.56% | +0.38% | -0.57B |
| 2022-09-30 | $2.27B | 46 | -4.21% | -4.93% | +0.72% | -0.07B |
| 2022-06-30 | $2.45B | 45 | -8.18% | -16.11% | +7.93% | -0.40B |