Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-14.76%
trims when stocks drop
when a holding falls −10%+
Middle response
-7.22%
baseline attrition
Rally response
-7.47%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| AAPLApple Inc. | $55M | 1.4% | +14.7% | 10.5 yr |
| JNJJohnson & Johnson | $47M | 1.2% | +51.5% | 10.5 yr |
| XOMExxon Mobil Corporation | $47M | 1.2% | +47.6% | 9.3 yr |
| GOOGLAlphabet Inc. | $47M | 1.2% | — | 10.5 yr |
| MSFTMicrosoft Corporation | $44M | 1.1% | -0.6% | 10.5 yr |
| AMZNAmazon.com, Inc. | $44M | 1.1% | +9.5% | 10.5 yr |
| BRK-BBerkshire Hathaway Inc. | $40M | 1.0% | — | 10.5 yr |
| WMTWalmart Inc. | $39M | 1.0% | +42.8% | 10.5 yr |
| CSCOCisco Systems, Inc. | $39M | 1.0% | +28.1% | 10.5 yr |
| TAT&T Inc. | $38M | 0.9% | +5.9% | 10.5 yr |
| JPMJPMorgan Chase & Co. | $37M | 0.9% | +21.8% | 8.0 yr |
| LLYEli Lilly and Company | $37M | 0.9% | +12.2% | 10.5 yr |
| COSTCostco Wholesale Corpora | $36M | 0.9% | +5.9% | 10.5 yr |
| ABBVAbbVie Inc. | $36M | 0.9% | +7.3% | 10.3 yr |
| MRKMerck & Co., Inc. | $35M | 0.9% | +38.9% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Drug Manufacturers - General6.5%+0.5pp$261M
Aerospace & Defense5.9%+2.3pp$234M
Regulated Electric5.5%+0.9pp$221M
Insurance - Property & Casualty4.8%-0.6pp$193M
Biotechnology3.3%+1.8pp$130M
Financial - Credit Services3.2%-0.2pp$129M
Software - Application3.0%-1.8pp$118M
Semiconductors2.9%+1.9pp$115M
Telecommunications Services2.7%-0.7pp$106M
Banks - Regional2.7%+0.2pp$106M
Country
US94.6%-0.7pp
BM1.6%-0.2pp
Unknown1.3%+0.7pp
IE0.7%-0.3pp
CH0.6%-0.0pp
GB0.3%-0.0pp
MC0.2%+0.2pp
CA0.2%+0.1pp
Top 5: 6.0% · Top 10: 11.0% · Top 25: 23.7%
Top buys this quarter · 15
| FDX FedEx Corporation | +$19M |
| PSX Phillips 66 | +$14M |
| JBHT J.B. Hunt Transport Services, | +$13M |
| CRUS Cirrus Logic, Inc. | +$11M |
| GM General Motors Company | +$10M |
| JAZZ Jazz Pharmaceuticals plc | +$8M |
| ROST Ross Stores, Inc. | +$8M |
| MUSA Murphy USA Inc. | +$6M |
| AEE Ameren Corporation | +$6M |
| CCK Crown Holdings, Inc. | +$6M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $3.99B | 794 | +13.90% | +17.59% | -3.69% | -0.05B |
| 2025-12-31 | $3.93B | 770 | +13.67% | +17.72% | -4.05% | -0.10B |
| 2025-09-30 | $3.98B | 756 | +10.61% | +17.52% | -6.91% | -0.29B |
| 2025-06-30 | $4.08B | 779 | +14.95% | +14.94% | +0.01% | -0.03B |
| 2025-03-31 | $3.93B | 766 | +10.25% | +8.30% | +1.95% | -0.28B |
| 2024-12-31 | $4.11B | 756 | +16.50% | +24.89% | -8.38% | -0.19B |
| 2024-09-30 | $4.36B | 784 | +28.84% | +36.04% | -7.20% | -0.68B |
| 2024-06-30 | $4.63B | 781 | +15.79% | +24.49% | -8.70% | -0.40B |
| 2024-03-31 | $5.01B | 800 | +19.05% | +29.62% | -10.57% | -0.29B |
| 2023-12-31 | $4.90B | 783 | +10.96% | +26.18% | -15.21% | -0.29B |
| 2023-09-30 | $4.75B | 775 | +12.28% | +21.57% | -9.28% | -0.25B |
| 2023-06-30 | $5.11B | 795 | +7.90% | +19.42% | -11.53% | -0.23B |
| 2023-03-31 | $5.19B | 815 | -4.95% | -7.82% | +2.87% | +0.01B |
| 2022-12-31 | $5.13B | 823 | +10.39% | +7.56% | +2.83% | -0.41B |
| 2022-09-30 | $5.02B | 817 | -5.99% | -4.93% | -1.06% | -0.15B |
| 2022-06-30 | $5.50B | 837 | -9.28% | -16.11% | +6.83% | -0.55B |