Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+3.23%
adds when stocks drop
when a holding falls −10%+
Middle response
-8.92%
baseline attrition
Rally response
-7.23%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| CNQCanadian Natural Resourc | $806M | 10.9% | +66.0% | 5.3 yr |
| MSFTMicrosoft Corporation | $368M | 5.0% | -0.6% | 10.5 yr |
| SCHWThe Charles Schwab Corpo | $367M | 5.0% | +21.5% | 7.0 yr |
| GOOGAlphabet Inc. | $323M | 4.4% | +84.3% | 7.3 yr |
| PEPPepsiCo, Inc. | $315M | 4.3% | +7.7% | 10.5 yr |
| JNJJohnson & Johnson | $305M | 4.1% | +51.5% | 10.5 yr |
| FOXFox Corporation | $296M | 4.0% | +1.8% | 7.3 yr |
| PGThe Procter & Gamble Com | $279M | 3.8% | -12.9% | 10.5 yr |
| UHAL-BU-Haul Holding Company | $270M | 3.7% | — | 3.5 yr |
| RSReliance Steel & Aluminu | $211M | 2.9% | +7.0% | 4.5 yr |
| COPConocoPhillips | $209M | 2.8% | +30.0% | 10.5 yr |
| FANGDiamondback Energy, Inc. | $199M | 2.7% | +27.1% | 3.8 yr |
| CTSHCognizant Technology Sol | $185M | 2.5% | -18.4% | 9.0 yr |
| NWSANews Corporation | $184M | 2.5% | -7.7% | 7.0 yr |
| EOGEOG Resources, Inc. | $177M | 2.4% | +16.9% | 3.8 yr |
Portfolio composition (YoY)
Industry mix
Oil & Gas Exploration & Production19.2%+1.0pp$1.41B
Entertainment9.2%-2.7pp$680M
Household & Personal Products6.6%-2.0pp$488M
Beverages - Non-Alcoholic6.4%+0.2pp$475M
Aerospace & Defense5.5%+0.9pp$402M
Financial - Capital Markets5.0%+0.1pp$371M
Software - Infrastructure5.0%-1.2pp$368M
Internet Content & Information4.4%+1.5pp$323M
Drug Manufacturers - General4.1%+1.1pp$305M
Asset Management4.1%+1.9pp$300M
Country
US88.9%+0.3pp
CA10.9%-0.1pp
Unknown0.2%+0.0pp
IE0.1%-0.0pp
Top 5: 29.5% · Top 10: 48.0% · Top 25: 80.4%
Top buys this quarter · 15
| PYPL PayPal Holdings, Inc.new | +$104M |
| FDS FactSet Research Systems Inc.new | +$49M |
| AVTR Avantor, Inc.new | +$37M |
| BRBR BellRing Brands, Inc.new | +$24M |
| EMBC Embecta Corp. | +$12M |
| LEGH Legacy Housing Corporation | +$11M |
| MSFT Microsoft Corporation | +$368M |
| EOG EOG Resources, Inc. | +$5M |
| COP ConocoPhillips | +$4M |
| FICO Fair Isaac Corporation | +$4M |
Top sells this quarter · 15
| CNQ Canadian Natural Resources Lim | −$636M |
| WBD Warner Bros. Discovery, Inc.exit | −$49M |
| SPY State Street SPDR S&P 500 ETF | −$18M |
| CSCO Cisco Systems, Inc. | −$10M |
| SCHW The Charles Schwab Corporation | −$3M |
| VZ Verizon Communications Inc. | −$1M |
| BK The Bank of New York Mellon Co | −$1M |
| GOOG Alphabet Inc. | −$1M |
| FOXA Fox Corporation | −$1M |
| JNJ Johnson & Johnson | −$259M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $7.38B | 75 | +19.80% | +17.59% | +2.21% | +0.06B |
| 2025-12-31 | $7.06B | 71 | +16.45% | +17.72% | -1.27% | -0.49B |
| 2025-09-30 | $7.26B | 70 | +12.06% | +17.52% | -5.46% | -0.67B |
| 2025-06-30 | $7.44B | 70 | +9.59% | +14.94% | -5.35% | -0.50B |
| 2025-03-31 | $7.61B | 70 | +4.55% | +8.30% | -3.76% | -1.01B |
| 2024-12-31 | $8.55B | 71 | +13.17% | +24.89% | -11.71% | -1.21B |
| 2024-09-30 | $9.75B | 71 | +23.49% | +36.04% | -12.55% | -1.35B |
| 2024-06-30 | $10.66B | 72 | +18.73% | +24.49% | -5.76% | -0.41B |
| 2024-03-31 | $11.12B | 73 | +24.27% | +29.62% | -5.36% | -0.61B |
| 2023-12-31 | $10.75B | 70 | +16.86% | +26.18% | -9.32% | -0.33B |
| 2023-09-30 | $10.15B | 70 | +19.55% | +21.57% | -2.02% | -0.41B |
| 2023-06-30 | $10.55B | 67 | +13.33% | +19.42% | -6.09% | +0.01B |
| 2023-03-31 | $10.11B | 68 | -5.41% | -7.82% | +2.41% | -0.18B |
| 2022-12-31 | $10.04B | 68 | -12.01% | -18.17% | +6.16% | -0.22B |
| 2022-09-30 | $9.17B | 67 | +1.36% | -15.51% | +16.87% | +0.02B |
| 2022-06-30 | $9.64B | 65 | -13.03% | -16.11% | +3.08% | -0.11B |