Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+4.05%
adds when stocks drop
when a holding falls −10%+
Middle response
+3.57%
steady accumulation
Rally response
-7.99%
trims into rallies
when a holding rises +10%+
Top positions · 29
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| ORLAOrla Mining Ltd. | $502M | 25.8% | +72.7% | 3.8 yr |
| UAAUnder Armour, Inc. | $254M | 13.1% | -5.4% | 2.0 yr |
| CVSCVS Health Corporation | $195M | 10.0% | +10.0% | 6.0 yr |
| KWKennedy-Wilson Holdings, | $144M | 7.4% | +30.2% | 10.5 yr |
| UAUnder Armour, Inc. | $127M | 6.5% | -2.7% | 3.8 yr |
| CLFCleveland-Cliffs Inc. | $126M | 6.5% | +2.8% | 1.5 yr |
| KHCThe Kraft Heinz Company | $118M | 6.1% | -21.4% | 1.8 yr |
| BBBlackBerry Limited | $113M | 5.8% | -14.1% | 10.5 yr |
| — | $69M | 3.6% | — | 2.5 yr |
| TAPMolson Coors Beverage Co | $62M | 3.2% | -26.4% | 1.5 yr |
| HPHelmerich & Payne, Inc. | $42M | 2.2% | +44.1% | 10.5 yr |
| TSMTaiwan Semiconductor Man | $32M | 1.6% | +105.6% | 8.8 yr |
| GMGeneral Motors Company | $28M | 1.4% | +60.0% | 8.0 yr |
| PFEPfizer Inc. | $28M | 1.4% | +18.8% | 7.8 yr |
| BNSThe Bank of Nova Scotia | $25M | 1.3% | +52.4% | 7.5 yr |
Portfolio composition (YoY)
Industry mix
Gold25.8%-2.9pp$502M
Apparel - Manufacturers19.6%+17.5pp$381M
Medical - Healthcare Plans10.0%+0.1pp$195M
Real Estate - Services7.6%+1.2pp$147M
Steel6.5%-0.2pp$126M
Packaged Foods6.1%+0.5pp$118M
Software - Infrastructure5.9%-3.7pp$114M
Unknown3.6%+0.3pp$69M
Drug Manufacturers - General3.4%+1.0pp$67M
Beverages - Alcoholic3.2%-0.8pp$62M
Country
US61.2%+5.4pp
CA33.3%-6.0pp
Unknown3.6%+0.3pp
TW1.6%+0.4pp
CH0.2%+0.0pp
GB0.1%+0.0pp
LU0.0%-0.0pp
Top 5: 62.9% · Top 10: 88.0% · Top 25: 99.9%
Top buys this quarter · 10
| UA Under Armour, Inc. | +$73M |
| WEN The Wendy's Companynew | +$23M |
| UAA Under Armour, Inc. | +$6M |
| TAP Molson Coors Beverage Company | +$62M |
| KHC The Kraft Heinz Company | +$118M |
| PFE Pfizer Inc. | +$3M |
| WBD Warner Bros. Discovery, Inc.new | +$2M |
| CNI Canadian National Railway Comp | +$1M |
| CIGI Colliers International Group I | +$3M |
| IGT International Game Technology | +$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.94B | 29 | +26.76% | +17.59% | +9.17% | -0.26B |
| 2025-12-31 | $2.08B | 29 | +39.27% | +17.72% | +21.55% | -0.14B |
| 2025-09-30 | $2.06B | 29 | +41.03% | +17.52% | +23.52% | -0.04B |
| 2025-06-30 | $1.87B | 28 | +23.73% | +14.94% | +8.79% | +0.04B |
| 2025-03-31 | $1.84B | 29 | +24.17% | +8.30% | +15.86% | +0.04B |
| 2024-12-31 | $1.56B | 31 | +16.16% | +24.89% | -8.73% | +0.36B |
| 2024-09-30 | $1.10B | 31 | +4.39% | +36.04% | -31.65% | -0.06B |
| 2024-06-30 | $1.18B | 38 | +5.28% | +24.49% | -19.21% | -0.04B |
| 2024-03-31 | $1.23B | 42 | +9.13% | +29.62% | -20.49% | -0.37B |
| 2023-12-31 | $1.47B | 57 | +11.59% | +26.18% | -14.59% | -0.03B |
| 2023-09-30 | $1.53B | 60 | +13.10% | +21.57% | -8.47% | +0.01B |
| 2023-06-30 | $1.53B | 60 | +3.87% | +19.42% | -15.55% | +0.08B |
| 2023-03-31 | $1.41B | 66 | -18.49% | -7.82% | -10.67% | -2.70B |
| 2022-12-31 | $3.69B | 74 | -0.73% | +7.56% | -8.29% | +0.18B |
| 2022-09-30 | $3.55B | 72 | -8.82% | -4.93% | -3.89% | +0.96B |
| 2022-06-30 | $2.84B | 70 | -18.95% | -16.11% | -2.84% | +0.40B |