Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+2.93%
adds when stocks drop
when a holding falls −10%+
Middle response
-1.73%
baseline attrition
Rally response
-6.08%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| RPRXRoyalty Pharma plc | $31M | 4.5% | +57.7% | 4.5 yr |
| AVGOBroadcom Inc. | $31M | 4.5% | +86.0% | 3.8 yr |
| MSFTMicrosoft Corporation | $29M | 4.2% | -0.6% | 10.0 yr |
| CVXChevron Corporation | $28M | 4.1% | +29.2% | 1.0 yr |
| CEGConstellation Energy Cor | $26M | 3.8% | +39.2% | 1.5 yr |
| PSXPhillips 66 | $26M | 3.8% | +53.0% | 10.0 yr |
| — | $24M | 3.5% | — | 0.8 yr |
| TXNTexas Instruments Incorp | $24M | 3.5% | +11.4% | 4.3 yr |
| PFEPfizer Inc. | $22M | 3.2% | +18.8% | 1.3 yr |
| CNACNA Financial Corporatio | $22M | 3.2% | -2.0% | 1.8 yr |
| OKEONEOK, Inc. | $22M | 3.2% | -3.8% | 0.5 yr |
| PEPPepsiCo, Inc. | $21M | 3.1% | +7.7% | 0.8 yr |
| ABBVAbbVie Inc. | $20M | 3.0% | +7.3% | 9.8 yr |
| — | $19M | 2.8% | — | 0.5 yr |
| AMGNAmgen Inc. | $19M | 2.8% | +16.5% | 8.8 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors11.2%+4.3pp$77M
Drug Manufacturers - General9.2%+2.4pp$63M
Biotechnology8.0%+1.7pp$54M
Unknown6.5%$44M
Specialty Retail4.9%-1.2pp$33M
Software - Infrastructure4.5%+0.5pp$30M
Oil & Gas Integrated4.1%$28M
Renewable Utilities3.8%+3.0pp$26M
Oil & Gas Refining & Marketing3.8%+1.3pp$26M
Insurance - Brokers3.3%-0.3pp$23M
Country
US90.7%-2.5pp
Unknown6.5%
TW1.3%
CH0.9%-2.3pp
KY0.5%
CA0.1%-1.8pp
GB0.1%
Top 5: 21.1% · Top 10: 38.3% · Top 25: 75.5%
Top buys this quarter · 15
| CEG Constellation Energy Corporati | +$20M |
| MSFT Microsoft Corporation | +$16M |
| BE Bloom Energy Corporation | +$4M |
| BMRN BioMarin Pharmaceutical Inc. | +$3M |
| GE GE Aerospacenew | +$3M |
| BX Blackstone Inc. | +$19M |
| AVGO Broadcom Inc. | +$31M |
| NOW ServiceNow, Inc. | +$6M |
| EVLV Evolv Technologies Holdings, I | +$1M |
| VRSK Verisk Analytics, Inc. | +$1M |
Top sells this quarter · 15
| UNH UnitedHealth Group Incorporateexit | −$16M |
| PSX Phillips 66 | −$12M |
| INTU Intuit Inc.exit | −$9M |
| AXP American Express Company | −$7M |
| CPRT Copart, Inc.exit | −$5M |
| CSU.TO Constellation Software Inc.exit | −$5M |
| RPRX Royalty Pharma plc | −$29M |
| AMGN Amgen Inc. | −$4M |
| TXN Texas Instruments Incorporated | −$4M |
| ADBE Adobe Inc.exit | −$4M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $682M | 88 | +19.19% | +17.59% | +1.60% | -0.04B |
| 2025-12-31 | $698M | 95 | +15.51% | +17.72% | -2.21% | -0.05B |
| 2025-09-30 | $737M | 99 | +12.74% | +17.52% | -4.77% | +0.00B |
| 2025-06-30 | $689M | 99 | +11.38% | +14.94% | -3.56% | -0.03B |
| 2025-03-31 | $671M | 101 | +3.93% | +8.30% | -4.37% | -0.02B |
| 2024-12-31 | $697M | 101 | +13.93% | +24.89% | -10.95% | -0.01B |
| 2024-09-30 | $715M | 102 | +29.00% | +36.04% | -7.04% | +0.01B |
| 2024-06-30 | $669M | 93 | +20.81% | +24.49% | -3.68% | -0.00B |
| 2024-03-31 | $668M | 92 | +25.69% | +29.62% | -3.93% | -0.01B |
| 2023-12-31 | $618M | 94 | +17.49% | +26.18% | -8.68% | -0.01B |
| 2023-09-30 | $567M | 94 | +16.79% | +21.57% | -4.78% | -0.00B |
| 2023-06-30 | $578M | 96 | +14.51% | +19.42% | -4.91% | -0.00B |
| 2023-03-31 | $557M | 100 | -4.31% | -7.82% | +3.51% | -0.01B |
| 2022-12-31 | $555M | 104 | +10.87% | +7.56% | +3.31% | -0.00B |
| 2022-09-30 | $502M | 100 | -3.33% | -4.93% | +1.60% | -0.00B |
| 2022-06-30 | $524M | 99 | -12.72% | -16.11% | +3.39% | -0.02B |