Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+2.03%
adds when stocks drop
when a holding falls −10%+
Middle response
-1.42%
baseline attrition
Rally response
-2.86%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| JAAAJanus Henderson AAA CLO | $97M | 17.6% | — | 1.3 yr |
| ETREntergy Corporation | $20M | 3.6% | +35.0% | 2.8 yr |
| SGOLabrdn Physical Gold Shar | $18M | 3.3% | — | 2.3 yr |
| NVDANVIDIA Corporation | $18M | 3.2% | +60.9% | 4.5 yr |
| JEPIJPMorgan Equity Premium | $16M | 2.9% | — | 2.0 yr |
| SOThe Southern Company | $14M | 2.6% | +8.4% | 10.5 yr |
| TOTB.DETotalEnergies SE | $12M | 2.3% | +41.2% | 0.3 yr |
| FEFirstEnergy Corp. | $12M | 2.2% | +30.4% | 5.8 yr |
| MLPAGlobal X - MLP ETF | $12M | 2.1% | — | 0.3 yr |
| MUMicron Technology, Inc. | $11M | 1.9% | +289.6% | 4.0 yr |
| DUKDuke Energy Corporation | $11M | 1.9% | +11.2% | 10.0 yr |
| GOOGLAlphabet Inc. | $10M | 1.9% | — | 5.0 yr |
| POWLPowell Industries, Inc. | $10M | 1.8% | +6.3% | 1.8 yr |
| AMZNAmazon.com, Inc. | $9M | 1.6% | +9.5% | 8.0 yr |
| INTCIntel Corporation | $9M | 1.6% | +94.3% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management30.8%+6.1pp$169M
Regulated Electric12.3%+1.9pp$67M
Semiconductors9.1%+1.8pp$50M
Oil & Gas Integrated4.6%+0.4pp$25M
Drug Manufacturers - General4.5%-0.2pp$25M
Asset Management - Income3.4%-0.9pp$19M
Oil & Gas Midstream2.8%+2.2pp$15M
Asset Management - Global2.3%+2.1pp$13M
REIT - Healthcare Facilities2.3%-0.9pp$12M
Internet Content & Information2.0%+0.4pp$11M
Country
US92.9%+4.9pp
FR2.3%+0.2pp
CA1.8%+1.2pp
GB1.5%-0.8pp
IE1.2%-0.5pp
CH0.4%-0.1pp
Top 5: 30.6% · Top 10: 41.7% · Top 25: 63.5%
Top buys this quarter · 15
| TOTB.DE TotalEnergies SEnew | +$11M |
| SO The Southern Company | +$0M |
| AZN AstraZeneca PLCnew | +$0M |
| FE FirstEnergy Corp. | +$0M |
| DUK Duke Energy Corporation | +$0M |
| COF Capital One Financial Corporat | +$0M |
| PEG Public Service Enterprise Grou | +$0M |
| PANW Palo Alto Networks, Inc. | +$4M |
| MPC Marathon Petroleum Corporationnew | +$0M |
| SNDK Sandisk Corporationnew | +$0M |
Top sells this quarter · 15
| TTE TotalEnergies SEexit | −$12M |
| NVDA NVIDIA Corporation | −$2M |
| AAPL Apple Inc. | −$2M |
| DELL Dell Technologies Inc. | −$2M |
| ENB Enbridge Inc. | −$5M |
| MU Micron Technology, Inc. | −$10M |
| POWL Powell Industries, Inc. | −$8M |
| AMD Advanced Micro Devices, Inc. | −$1M |
| AMAT Applied Materials, Inc. | −$1M |
| INTC Intel Corporation | −$8M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $549M | 158 | +31.01% | +17.59% | +13.41% | -0.03B |
| 2025-12-31 | $550M | 158 | +27.99% | +17.72% | +10.27% | -0.05B |
| 2025-09-30 | $570M | 153 | +19.43% | +17.52% | +1.92% | -0.01B |
| 2025-06-30 | $531M | 148 | +18.30% | +14.94% | +3.35% | +0.03B |
| 2025-03-31 | $460M | 148 | +8.82% | +8.30% | +0.52% | +0.03B |
| 2024-12-31 | $423M | 150 | +12.54% | +24.89% | -12.35% | +0.01B |
| 2024-09-30 | $423M | 150 | +27.17% | +36.04% | -8.87% | -0.01B |
| 2024-06-30 | $400M | 154 | +13.22% | +24.49% | -11.27% | -0.00B |
| 2024-03-31 | $403M | 158 | +15.57% | +29.62% | -14.06% | +0.01B |
| 2023-12-31 | $368M | 155 | +10.62% | +26.18% | -15.56% | +0.00B |
| 2023-09-30 | $331M | 140 | +11.96% | +21.57% | -9.61% | +0.01B |
| 2023-06-30 | $335M | 142 | +5.62% | +19.42% | -13.81% | +0.02B |
| 2023-03-31 | $314M | 141 | -6.15% | -7.82% | +1.67% | +0.04B |
| 2022-12-31 | $265M | 136 | -9.85% | -18.17% | +8.33% | -0.02B |
| 2022-09-30 | $251M | 134 | -10.20% | -15.51% | +5.31% | -0.01B |
| 2022-06-30 | $285M | 134 | -0.91% | -10.62% | +9.71% | +0.02B |