Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-7.46%
trims when stocks drop
when a holding falls −10%+
Middle response
-5.57%
baseline attrition
Rally response
+2.27%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| MUMicron Technology, Inc. | $122M | 15.9% | +289.6% | 10.5 yr |
| BRK-ABerkshire Hathaway Inc. | $90M | 11.7% | — | 10.5 yr |
| GDXVanEck Gold Miners ETF | $54M | 7.1% | — | 3.5 yr |
| TLTiShares 20+ Year Treasur | $53M | 6.9% | — | 2.5 yr |
| GLDSPDR Gold Shares | $52M | 6.8% | — | 10.5 yr |
| AMZNAmazon.com, Inc. | $32M | 4.1% | +9.5% | 9.5 yr |
| LHLabcorp Holdings Inc. | $30M | 4.0% | +15.9% | 1.3 yr |
| NVDANVIDIA Corporation | $27M | 3.6% | +60.9% | 7.0 yr |
| GOOGLAlphabet Inc. | $27M | 3.6% | — | 8.5 yr |
| COPConocoPhillips | $24M | 3.2% | +30.0% | 10.5 yr |
| LUVSouthwest Airlines Co. | $21M | 2.7% | +14.2% | 8.5 yr |
| TJXThe TJX Companies, Inc. | $20M | 2.6% | +32.7% | 10.5 yr |
| XBIState Street SPDR S&P Bi | $19M | 2.5% | — | 4.0 yr |
| BRK-BBerkshire Hathaway Inc. | $19M | 2.4% | — | 10.0 yr |
| IWMiShares Russell 2000 ETF | $19M | 2.4% | — | 0.5 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors20.5%+14.0pp$157M
Asset Management19.6%+8.4pp$150M
Insurance - Diversified14.2%-20.5pp$108M
Asset Management - Bonds6.9%+0.8pp$53M
Specialty Retail4.1%-4.5pp$32M
Medical - Diagnostics & Research4.0%+0.0pp$30M
Internet Content & Information3.6%+0.8pp$27M
Oil & Gas Exploration & Production3.2%+0.0pp$24M
Discount Stores3.0%+0.2pp$23M
Airlines, Airports & Air Services2.7%-0.9pp$21M
Country
US99.3%-0.7pp
Unknown0.7%
Top 5: 48.5% · Top 10: 66.9% · Top 25: 94.6%
Top buys this quarter · 15
| INTU Intuit Inc.new | +$14M |
| TXN Texas Instruments Incorporatednew | +$8M |
| ASTS AST SpaceMobile, Inc.new | +$4M |
| HOOD Robinhood Markets, Inc.new | +$2M |
| LH Labcorp Holdings Inc. | +$2M |
| CROX Crocs, Inc. | +$2M |
| AMZN Amazon.com, Inc. | +$32M |
| COST Costco Wholesale Corporation | +$1M |
| TJX The TJX Companies, Inc. | +$1M |
| RHP Ryman Hospitality Properties, | +$15M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $764M | 35 | +45.47% | +17.59% | +27.88% | -0.04B |
| 2025-12-31 | $748M | 28 | +24.74% | +17.72% | +7.02% | +0.01B |
| 2025-09-30 | $652M | 29 | +13.20% | +17.52% | -4.31% | +0.03B |
| 2025-06-30 | $573M | 30 | +3.06% | +14.94% | -11.89% | -0.08B |
| 2025-03-31 | $591M | 31 | -4.60% | +8.30% | -12.91% | -0.00B |
| 2024-12-31 | $648M | 30 | +17.26% | +24.89% | -7.63% | -0.50B |
| 2024-09-30 | $1.13B | 30 | +28.26% | +36.04% | -7.78% | +0.07B |
| 2024-06-30 | $1.07B | 34 | +30.51% | +24.49% | +6.02% | -0.06B |
| 2024-03-31 | $1.09B | 36 | +36.10% | +29.62% | +6.48% | -0.06B |
| 2023-12-31 | $1.02B | 43 | +27.00% | +26.18% | +0.82% | +0.15B |
| 2023-09-30 | $777M | 42 | +20.23% | +21.57% | -1.34% | +0.04B |
| 2023-06-30 | $729M | 40 | +18.05% | +19.42% | -1.37% | +0.03B |
| 2023-03-31 | $655M | 44 | -15.00% | -7.82% | -7.18% | -0.03B |
| 2022-12-31 | $653M | 44 | +5.96% | +7.56% | -1.60% | +0.06B |
| 2022-09-30 | $562M | 43 | -1.48% | -4.93% | +3.45% | -0.11B |
| 2022-06-30 | $682M | 54 | -22.78% | -16.11% | -6.67% | +0.04B |