Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+1.34%
adds when stocks drop
when a holding falls −10%+
Middle response
-2.53%
baseline attrition
Rally response
-2.02%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| HCAHCA Healthcare, Inc. | $183M | 11.5% | +37.9% | 10.3 yr |
| BRK-BBerkshire Hathaway Inc. | $127M | 7.9% | — | 10.3 yr |
| GOOGAlphabet Inc. | $58M | 3.6% | +84.3% | 1.5 yr |
| AAPLApple Inc. | $56M | 3.5% | +14.7% | 10.3 yr |
| AEMAgnico Eagle Mines Limit | $43M | 2.7% | +89.2% | 7.5 yr |
| CXWCoreCivic, Inc. | $41M | 2.6% | -6.8% | 9.3 yr |
| VSATViasat, Inc. | $38M | 2.4% | +339.5% | 1.5 yr |
| MSFTMicrosoft Corporation | $34M | 2.1% | -0.6% | 10.3 yr |
| AMZNAmazon.com, Inc. | $33M | 2.1% | +9.5% | 10.3 yr |
| GSThe Goldman Sachs Group, | $29M | 1.8% | +58.1% | 1.5 yr |
| RTXRTX Corporation | $26M | 1.6% | +48.1% | 5.8 yr |
| CATCaterpillar Inc. | $26M | 1.6% | +117.8% | 10.3 yr |
| XOMExxon Mobil Corporation | $26M | 1.6% | +47.6% | 10.3 yr |
| JNJJohnson & Johnson | $25M | 1.6% | +51.5% | 10.3 yr |
| URIUnited Rentals, Inc. | $24M | 1.5% | +17.3% | 10.3 yr |
Portfolio composition (YoY)
Industry mix
Medical - Care Facilities13.8%+2.4pp$220M
Insurance - Diversified8.2%-4.5pp$130M
Internet Content & Information4.8%+1.0pp$77M
Asset Management4.2%-0.5pp$68M
Drug Manufacturers - General3.6%-0.4pp$57M
Consumer Electronics3.5%-0.8pp$56M
Gold3.5%+2.3pp$56M
REIT - Specialty3.0%+2.0pp$48M
Software - Infrastructure2.9%-0.7pp$46M
Communication Equipment2.8%+2.2pp$44M
Country
US89.9%-3.1pp
CA4.5%+2.8pp
IE2.0%-1.8pp
Unknown1.5%+1.2pp
LU1.1%
BM0.4%-0.0pp
GB0.4%-0.1pp
CH0.1%-0.0pp
Top 5: 29.4% · Top 10: 40.4% · Top 25: 59.8%
Top buys this quarter · 15
| CXW CoreCivic, Inc. | +$30M |
| VSAT Viasat, Inc. | +$26M |
| AEM Agnico Eagle Mines Limited | +$20M |
| TIGO Millicom International Cellulanew | +$18M |
| EHC Encompass Health Corporationnew | +$18M |
| BKD Brookdale Senior Living Inc. | +$13M |
| TRC Tejon Ranch Co. | +$12M |
| AGI Alamos Gold Inc. | +$11M |
| CCJ Cameco Corporationnew | +$9M |
| GEO The GEO Group, Inc. | +$7M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.59B | 246 | +20.85% | +17.59% | +3.26% | +0.20B |
| 2025-12-31 | $1.40B | 234 | +21.09% | +17.72% | +3.37% | -0.04B |
| 2025-09-30 | $1.37B | 233 | +14.26% | +17.52% | -3.26% | -0.03B |
| 2025-06-30 | $1.29B | 223 | +15.72% | +14.94% | +0.78% | -0.03B |
| 2025-03-31 | $1.24B | 220 | +21.58% | +8.30% | +13.27% | -0.02B |
| 2024-12-31 | $1.26B | 745 | +34.20% | +26.30% | +7.90% | -0.14B |
| 2024-09-30 | $1.42B | 220 | +31.09% | +19.26% | +11.83% | -0.01B |
| 2024-06-30 | $1.30B | 211 | +28.75% | +22.56% | +6.18% | -0.01B |
| 2023-12-31 | $1.17B | 205 | +21.92% | +26.18% | -4.26% | -0.05B |
| 2023-09-30 | $1.10B | 199 | +27.39% | +21.57% | +5.82% | -0.01B |
| 2023-06-30 | $1.16B | 204 | +26.66% | +19.42% | +7.24% | -0.01B |
| 2023-03-31 | $1.09B | 196 | +0.18% | -7.82% | +8.00% | -0.04B |
| 2022-12-31 | $1.06B | 196 | -9.95% | -18.17% | +8.23% | -0.03B |
| 2022-09-30 | $946M | 195 | -13.17% | -15.51% | +2.34% | -0.00B |
| 2022-06-30 | $990M | 194 | -8.75% | -10.62% | +1.87% | -0.02B |
| 2022-03-31 | $1.17B | 204 | +15.45% | +15.45% | -0.00% | +0.06B |