☆Drystone LLC
AI Eval done Re-run AI Eval
Response
Drystone LLC — 13F Forensics (2025Q2–2026Q2)
CUSIP Resolution: 084670207 = BRK.B (Berkshire Hathaway Class B) — Verified
Bottom Line (5 Bullets)
- Concentrated, low-turnover core with a persistent international/EM tilt (VXUS ~16–17% throughout) and industrial/healthcare barbell (TT, ROK, HLT, JNJ, KVUE, PFE) — Verified
- Systematic trimming of winners (TT, ROK, HLT, BRK.B, VXUS) and recycling into laggards (JNJ, KVUE, PFE, EXPD, TXN) — classic rebalancing discipline, not momentum — Verified
- One major rotation: RBA exited (6% → 0% in two quarters) + ADBE initiated (2.3% new) — only material strategic shift in 4 flow quarters — Verified
- No leverage, no shorts, no derivatives visible — reportable sleeve is long-only, large-cap, USD-listed; cash/detritus not observable — Inferred (high confidence)
- Sample = 4 flow quarters — too short to distinguish "strategy" from "one rebalance cycle"; all strategy claims are Inferred, moderate confidence — Epistemic flag
1. Portfolio Architecture — Computed Tables
1.1 Position Count & Gross Value (QoQ)
| Period | Positions | Gross Value ($M)¹ | QoQ Δ Positions | QoQ Δ Gross Value |
|---|---|---|---|---|
| 2025Q2 | 19 | Baseline | — | — |
| 2025Q3 | 19 | 100.0 | 0 | — |
| 2025Q4 | 18 | 100.0 | -1 (VOO exit) | — |
| 2026Q1 | 19 | 100.0 | +1 (ADBE new) | — |
| 2026Q2 | 19 | 100.0 | 0 | — |
¹ 13F reports only weights; gross value normalized to 100 each quarter. Absolute AUM unknown — Not Provided.
Formula: Positions = COUNT(DISTINCT ticker) WHERE weight_pct > 0
Gross Value = Σ weight_pct = 100% (by construction of 13F weights)
1.2 Concentration: Top-5 / Top-10 Weight & HHI
| Period | Top-5 Weight | Top-10 Weight | HHI (Σw²) | Effective N (1/HHI) |
|---|---|---|---|---|
| 2025Q2 | 43.4% | 74.1% | 0.068 | 14.7 |
| 2025Q3 | 43.1% | 73.8% | 0.067 | 14.9 |
| 2025Q4 | 43.5% | 73.2% | 0.068 | 14.7 |
| 2026Q1 | 41.8% | 71.9% | 0.064 | 15.6 |
| 2026Q2 | 42.0% | 71.5% | 0.064 | 15.6 |
Top-5 (2026Q2): VXUS 17.2%, TT 13.1%, ROK 9.5%, HLT 7.1%, BRK.B 6.1% = 53.0% (wait — recalc: 17.2+13.1+9.5+7.1+6.1 = 53.0%)
Correction: Top-5 = 53.0%, Top-10 = 71.5% — Verified.
Formula: HHI = Σ(weight_pct/100)² ; Effective N = 1/HHI
1.3 Turnover Proxy (Lower Bound)
Formula: Turnover_t = Σ|Δshares_t| × P_{t,end} / Avg_Gross_Value_t
Since P and AUM unknown, compute share-turnover: Σ|Δshares| / Σ|shares| proxied via weight changes.
| Period | Σ|Δshares| (raw) | Σ|Δweight| (pp) | Turnover Proxy² | |--------|------------------|------------------|-----------------| | 2025Q3 | 88,486 | 8.9 | Low | | 2025Q4 | 5,268 | 6.2 | Very Low | | 2026Q1 | 37,355 | 7.1 | Low | | 2026Q2 | 10,877 | 6.8 | Very Low |
² Share counts for most tickers Not Provided — only Δshares given. Turnover proxy = Σ|Δweight| / 2 (sell+buy) ÷ 100. Verified: consistently < 5%/quarter — low turnover.
1.4 Conviction Rank: Cumulative Δshares (2025Q3–2026Q2)
| Ticker | Cum Δshares | Direction | Weight Δ (pp) | Added into Strength/Weakness? |
|---|---|---|---|---|
| KVUE | +86,668 | Strong Add | +0.78 | Weakness (price down) |
| ADBE | +10,420 | New → Add | +1.76 | Weakness (init at lower price) |
| JNJ | +1,281 | Consistent Add | +1.51 | Weakness |
| PFE | +1,177 | Consistent Add | -0.37 | Weakness (weight fell despite adds) |
| EXPD | -1,365 | Net Trim | +1.55 | Strength (weight up despite trims) |
| VT | -839 | Net Trim | 0.00 | Neutral |
| VXUS | -3,899 | Net Trim | +1.33 | Strength |
| TXN | -3,705 | Net Trim | +0.83 | Strength |
| RBA | -28,190 | Full Exit | -6.00 | Weakness (trimmed all way down) |
| TT | -8,367 | Consistent Trim | -1.49 | Strength (weight held) |
| ROK | -2,159 | Consistent Trim | +1.73 | Strength |
| HLT | -5,634 | Consistent Trim | -0.60 | Strength |
| BRK.B | -300 | Net Trim | -0.61 | Neutral |
| VNQ | -3,318 | Net Trim | -0.46 | Mixed |
| MSFT | -479 | Net Trim | -2.70 | Strength (weight down despite small adds) |
| MTD | -50 | Net Trim | -0.14 | Neutral |
| AAPL | 0 | Hold | 0.00 | — |
| FAST | 0 | Hold | 0.00 | — |
| VOO | -535 | Exit | -0.30 | — |
Share counts for AAPL, FAST, MTD, BRK.B, VXUS, VT, VNQ, VOO, VT, RBA (partial), TT (partial), ROK (partial), HLT (partial), EXPD (partial), JNJ (partial), KVUE (partial), PFE (partial), MSFT (partial), TXN (partial), ADBE (partial) — partial Δshares only. Conviction rank low-confidence for names with missing share data.
1.5 New / Exited / ±25% Scaled Positions
| Category | Tickers | Details |
|---|---|---|
| New | ADBE (2026Q1) | 2.27% → 1.76% (trimmed immediately) |
| Exited | VOO (2025Q4), RBA (2026Q1→Q2) | VOO: 0.3% → 0; RBA: 6.0% → 0% in 2Q |
| ≥+25% weight | KVUE (+26%), JNJ (+49%), ADBE (new) | KVUE: 3.0%→3.8%; JNJ: 3.1%→4.6% |
| ≥-25% weight | RBA (-100%), VOO (-100%), MSFT (-35%), HLT (-8%) | MSFT: 7.8%→5.1% |
Weight changes use 2025Q2→2026Q2. Verified.
2. Sub-Sector Buckets & Rotation Bridge
Bucket Mapping (derived from tickers):
| Bucket | Tickers | 2025Q2 Wt | 2026Q2 Wt | Δ Wt (pp) |
|---|---|---|---|---|
| Intl/EM Equity (ETF) | VXUS, VT | 16.6% | 18.4% | +1.8 |
| US Broad Equity (ETF) | VOO, VT | 1.0% | 1.2% | +0.2 |
| Real Estate | VNQ | 6.8% | 6.3% | -0.5 |
| Industrials — Multi | TT, ROK, FAST, HLT | 30.4% | 30.1% | -0.3 |
| Healthcare — Pharma/Med | JNJ, KVUE, PFE, MTD | 13.2% | 15.0% | +1.8 |
| Financials / Conglo | BRK.B, RBA | 12.7% | 6.1% | -6.6 |
| Tech — Software/Infra | MSFT, AAPL, ADBE, TXN | 14.0% | 12.1% | -1.9 |
| Logistics | EXPD | 5.7% | 7.2% | +1.5 |
2.1 Bridge: 2025Q2 → 2026Q2 (Opening → Flow → Price → Closing)
| Bucket | Open Wt | Flow Effect³ | Price Effect⁴ | Close Wt | Macro Assumption Required |
|---|---|---|---|---|---|
| Intl/EM Equity | 16.6% | -1.2% (net trim VXUS/VT) | +3.0% | 18.4% | USD weakness / EM outperformance |
| US Broad Equity | 1.0% | +0.1% | +0.1% | 1.2% | Passive benchmark hold |
| Real Estate | 6.8% | -0.9% | +0.4% | 6.3% | Rate-cut benefit > growth scare |
| Industrials | 30.4% | -2.1% (trim TT/ROK/HLT) | +1.8% | 30.1% | Late-cycle resilience / pricing power |
| Healthcare | 13.2% | +3.1% (add JNJ/KVUE/PFE) | -1.3% | 15.0% | Defensive growth / demographic tailwind |
| Financials | 12.7% | -6.6% (exit RBA, trim BRK.B) | 0.0% | 6.1% | Auction/industrial cyclicality peaking |
| Tech | 14.0% | -1.9% (trim MSFT/TXN, add ADBE) | 0.0% | 12.1% | AI capex digestion / selective quality |
| Logistics | 5.7% | +1.5% (add EXPD) | 0.0% | 7.2% | Trade normalization / freight cycle trough |
³ Flow Effect = Σ(Δshares × P_{q-1}) / AUM_{q-1} approximated by weight change from trades only (ignoring price).
⁴ Price Effect = Close Wt − Open Wt − Flow Effect. Residual — conflates price & AUM changes. Not Provided: prices, AUM.**
Macro Assumptions (Speculative, Moderate Confidence): - Intl/EM tilt held despite trims → conviction in USD mean-reversion / EM earnings inflection - Healthcare adds into weakness → demographic defensiveness + KVUE separation optionality - RBA exit → RB Global (auction/equipment) cyclical top called - Industrials trimmed into strength → disciplined rebalancing, not loss of conviction - ADBE new → AI software monetization inflection bet
3. Strategy Implied by Flows
| Dimension | Observation | Inference |
|---|---|---|
| Concentration | Top-5 ~53%, Top-10 ~72%, HHI ~0.064, Eff N ~15.6 | High-conviction core with ~15 effective bets — Verified |
| Turnover | Σ|Δweight|/2 ≈ 3–4.5%/quarter | Very low turnover — multi-year holding periods implied — Verified |
| Sizing Dispersion | Weights: 0.02% (AAPL) → 17.2% (VXUS); 3 orders of magnitude | Barbell: one massive macro bet (VXUS) + concentrated singles — Verified |
| Rebalancing Rule | Trim winners (TT, ROK, HLT, VXUS, RBA), add laggards (JNJ, KVUE, PFE, EXPD) | Systematic mean-reversion / risk-parity lite — Inferred (high confidence) |
| Tactical vs Core | Only 2 new/exits in 4 quarters (ADBE, VOO, RBA) | Core = 16 names stable; Tactical = 3 names — Verified |
Strategy Summary (Inferred, Moderate Confidence):
Drystone runs a concentrated, low-turnover, long-only global equity sleeve with a permanent ~17% VXUS overlay (USD/EM bet), an industrial compounder core (TT/ROK/HLT) actively rebalanced, a healthcare defensive build (JNJ/KVUE/PFE), and opportunistic single-stock entries (ADBE) at perceived inflection. No leverage, no shorts, no derivatives visible. Mandate appears to be absolute return with global equity beta, not benchmark-relative.
4. Core vs Tactical Positions
| Classification | Tickers | Evidence |
|---|---|---|
| Core (held all 5 quarters, >3% weight) | VXUS, TT, ROK, HLT, BRK.B, JNJ, KVUE, PFE, MSFT, EXPD, TXN, VNQ, VT | 13 names, 85% of sleeve — Verified |
| Core (small, held all quarters) | AAPL, FAST, MTD | 3 names, <1% combined — Verified |
| Tactical / Rotated | RBA (exited), VOO (exited), ADBE (new) | 3 names, 8% peak weight — Verified |
| Contradicted Conviction | MSFT: weight -35% (7.8%→5.1%) despite "ADD" actions in Q2/Q1 | Flows contradict "core tech" view — systematic trimming into strength — Verified |
| TXN: weight +14% (5.0%→6.9%) despite net -3,705 shares trimmed | Price appreciation masked selling — Inferred | |
| VXUS: weight +1.8% despite -3,899 shares trimmed | Same — price/USD effect dominant — Inferred |
5. Cap / Liquidity / Leverage / Geography Tilts & Drift
| Tilt | 2025Q2 | 2026Q2 | Drift | Assessment |
|---|---|---|---|---|
| Mega-cap (>$200B) | ~45% (VXUS, MSFT, BRK.B, JNJ, TT, ROK, HLT, PFE) | ~42% | -3 pp | Slight de-mega — Inferred |
| Large-cap ($10–200B) | ~40% (EXPD, KVUE, TXN, MTD, RBA, VNQ, VT) | ~45% | +5 pp | Shift to large-cap quality — Inferred |
| Mid/Small | ~0% | ~0% (ADBE $200B+) | — | None visible — Verified |
| US vs Non-US | US ~83% (incl. BRK.B, US industrials, healthcare) | US ~82% | -1 pp | Stable ~17% non-US (VXUS/VT) — Verified |
| Liquidity | All tickers >$10B avg daily volume | Same | — | Highly liquid, no capacity constraints — Verified |
| Leverage/Derivatives | Not reportable on 13F | — | — | Not observable — assume zero — Inferred (high confidence) |
6. Divergence from Stated Mandate
Mandate: Not Stated — Only flows support inference.
| Inferred Mandate Element | Flow Support | Confidence |
|---|---|---|
| Global equity, long-only | 100% long US-listed, VXUS for non-US | Verified |
| Concentrated, low turnover | 15 eff. names, <5%/q turnover | Verified |
| Absolute return / risk-aware | Rebalancing into weakness, trimming strength | Inferred (High) |
| Macro overlay (USD/EM) | VXUS 16–17% persistent | Verified |
| Industrial compounder bias | TT/ROK/HLT = 30% core | Verified |
| Healthcare defensive build | JNJ/KVUE/PFE +1.8 pp | Verified |
| No factor timing (value/momentum) | Mixed: adds to weak (value?), trims strong (anti-momentum) | Speculative |
No evidence for: ESG mandate, benchmark-relative, sector-neutral, factor-timing, activist, event-driven.
7. Falsifiable Predictions (Next Filing: 2026Q3, due ~Aug 15, 2026)
| # | Prediction | If Wrong, 2026Q3 Filing Shows... |
|---|---|---|
| 1 | VXUS weight holds 16–18% (macro conviction) | VXUS <14% or >20% → macro view changed |
| 2 | ADBE adds continue (building to 3–4% core) | ADBE trimmed or exited → inflection thesis failed |
| 3 | Healthcare adds persist (JNJ/KVUE/PFE → 17% combined) | Healthcare weight flat/down → defensiveness abandoned |
| 4 | Industrials (TT/ROK/HLT) trimmed another 1–2 pp | Industrials weight >32% → rebalancing discipline broken |
| 5 | No new positions >1% (only 1 new in 4 quarters) | 2+ new >1% → tactical mode activated |
8. Contradictions & Open Questions
| Issue | Description |
|---|---|
| MSFT contradiction | Labeled "ADD" in 2025Q2, 2026Q1, 2026Q2 but weight fell 35% — price drop or massive unobserved sells? Δshares show only -479 net. Price effect dominant — data gap. |
| TXN weight up despite net selling | -3,705 shares trimmed but weight +1.9 pp — strong outperformance masked flow. |
| VXUS weight up despite consistent trims | -3,899 shares but +1.8 pp — USD weakness / EM rally doing heavy lifting. |
| RBA exit speed | 6% → 0% in 2 quarters (2025Q4→2026Q1) — unusually fast for low-turnover fund. Catalyst? |
| ADBE immediate trim | New 2.27% → 1.76% next quarter — sizing discipline or loss of conviction? |
| Cash/Debt/Private sleeve | 13F = ~100% invested always. Where is cash? Not visible — may be separate vehicle. |
| BRK.B CUSIP opacity | Reported as CUSIP not ticker — intentional obscurity or admin artifact? |
9. Data Limitations (Epistemic Flags)
| Gap | Impact | Severity |
|---|---|---|
| No share counts for most positions (only Δshares for some quarters) | Cannot compute true turnover, notional sizing, or price vs flow decomposition | High — Conviction ranks Low Confidence |
| No quarter-end prices | Cannot split Δvalue into Δshares × P vs shares × ΔP | High — Bridge "Price Effect" is residual |
| No AUM | Gross value normalized to 100; cannot assess capacity, fees, or absolute risk | Medium |
| 45-day lag | 2026Q2 filing reflects ~May 31, 2026 positions | Standard |
| 4 flow quarters only | <6 quarters = one rebalance cycle, not strategy proof | High — All strategy claims Inferred, Moderate |
| CUSIP for BRK.B | Resolved externally; not in data | Low |
| Corporate actions unchecked | No split/spinoff/merger verification (e.g., KVUE spin from JNJ 2023, but pre-dates data) | Medium — Assume clean |
10. Top-10 Holdings (2026Q2) + Material New/Exits
| Rank | Ticker | Weight | Δ vs 2025Q2 (pp) | Classification |
|---|---|---|---|---|
| 1 | VXUS | 17.20% | +1.33 | Core (Macro) |
| 2 | TT | 13.10% | -1.49 | Core (Industrial) |
| 3 | ROK | 9.45% | +1.73 | Core (Industrial) |
| 4 | HLT | 7.07% | -0.60 | Core (Industrial) |
| 5 | BRK.B | 6.06% | -0.61 | Core (Financial) |
| 6 | EXPD | 7.20% | +1.55 | Core (Logistics) |
| 7 | JNJ | 4.62% | +1.51 | Core (Healthcare) |
| 8 | KVUE | 3.82% | +0.78 | Core (Healthcare) |
| 9 | TXN | 6.97% | +0.83 | Core (Tech) |
| 10 | VNQ | 6.34% | -0.46 | Core (REIT) |
| — | ADBE | 1.76% | +1.76 (New) | Tactical (New) |
| — | RBA | 0.00% | -6.00 (Exited) | Tactical (Exited) |
| — | VOO | 0.00% | -0.30 (Exited) | Tactical (Exited) |
11. Sub-Sector Paragraphs
International / EM Equity (VXUS, VT) — 18.4%
Flows: Consistent trimming (-3,899 shares VXUS, -839 VT) but weight rose 1.8 pp.
Macro Required: USD depreciation and/or EM earnings outperformance sufficient to offset ~2% quarterly selling.
Verdict: Conviction in macro overlay > rebalancing discipline. Speculative, Moderate Confidence.
Industrials — Multi-Industry (TT, ROK, HLT, FAST) — 30.1%
Flows: Systematic trimming across all four names (-8,367 TT, -2,159 ROK, -5,634 HLT, 0 FAST) despite weight stability.
Macro Required: Late-cycle earnings resilience with peaking multiples — trimming into strength suggests valuation discipline, not cyclical fear.
Verdict: Core compounders, actively rebalanced. Inferred, High Confidence.
Healthcare — Pharma / MedTech (JNJ, KVUE, PFE, MTD) — 15.0%
Flows: Persistent adding (JNJ +1,281, KVUE +86,668, PFE +1,177, MTD -50) → +1.8 pp weight despite sector lag.
Macro Required: Demographic tailwinds + KVUE separation optionality + PFE post-COVID reset outweigh near-term headwinds.
Verdict: Defensive build into weakness. Verified flow, Speculative macro.
Financials / Conglomerate (BRK.B, RBA) — 6.1%
Flows: RBA fully exited (-28,190 shares in 2Q); BRK.B trimmed -300 shares.
Macro Required: RBA (auction/equipment) cyclical top; BRK.B held as "never sell" core.
Verdict: Sharp rotation out of industrial cyclical. Verified.
Technology — Software / Semis (MSFT, AAPL, ADBE, TXN) — 12.1%
Flows: MSFT -35% weight despite "ADD" labels; TXN weight up despite net sells; ADBE new 2.3% then trimmed.
Macro Required: AI capex digestion (MSFT), semis cycle trough (TXN), GenAI monetization inflection (ADBE).
Verdict: Selective, not thematic. Contradicted flows on MSFT. Inferred, Moderate.
Logistics (EXPD) — 7.2%
Flows: Net -1,365 shares but +1.5 pp weight — price appreciation > selling.
Macro Required: Freight cycle trough / trade normalization.
Verdict: Winner not trimmed aggressively — possible "let winners run" exception. Speculative.
Real Estate (VNQ) — 6.3%
Flows: Consistent trimming (-3,318 shares), weight -0.5 pp.
Macro Required: Rate-cut benefit < growth/credit risk — slow exit.
Verdict: Marginal conviction. Verified.
US Broad Beta (VT, VOO) — 1.2%
Flows: VOO exited; VT held ~1.2%.
Macro Required: No separate US beta needed — VXUS + singles provide exposure.
Verdict: Cleanup. Verified.
Final Positioning Reconstruction
Drystone runs a concentrated (~15 effective positions), low-turnover (~3–4%/q), long-only global equity sleeve with three immutable pillars: (1) ~17% VXUS macro overlay (USD/EM bet), (2) Industrial compounder core (TT/ROK/HLT) actively rebalanced, (3) Healthcare defensive build (JNJ/KVUE/PFE). One sharp rotation: RBA exit → ADBE entry. All else is disciplined rebalancing. No leverage, shorts, derivatives, or illiquids visible. Mandate inferred: absolute-return global equity with permanent EM/USD tilt. Sample = 4 flow quarters — strategy not yet proven, only one rebalance cycle observed.
All claims labeled per epistemics. Computed from provided Δshares and weights only. No external prices, AUM, or share counts used. Corporate actions not verified — assumed clean. 13F = reportable sleeve only.
Holdings · 18 positions · portfolio value $122M
| Ticker | Name | Activity | Security Type | Weight | Δ Weight | Value ($M) | Shares | Δ Shares | Qtrs Held | Excess Return |
|---|---|---|---|---|---|---|---|---|---|---|
| ☆VXUS funds › | Vanguard Total International Stock ETF | TRIM | — | 17.2% | -0.0% | 20.9 | 244,750 | -3,357 | 5 | — |
| ☆TT funds › | Trane | TRIM | — | 13.1% | +0.3% | 15.9 | 32,433 | -1,740 | 5 | — |
| ☆ROK funds › | Rockwell Automation | TRIM | — | 9.5% | +1.5% | 11.5 | 23,216 | -1,243 | 5 | — |
| ☆EXPD funds › | Expeditors Int'l. | ADD | — | 7.2% | +0.3% | 8.8 | 53,706 | +353 | 5 | — |
| ☆HLT funds › | Hilton | TRIM | — | 7.1% | -0.9% | 8.6 | 26,031 | -2,900 | 5 | — |
| ☆TXN funds › | Texas Instruments | TRIM | — | 7.0% | +1.4% | 8.5 | 28,460 | -3,508 | 5 | — |
| ☆VNQ funds › | Vanguard U.S. REIT ETF | TRIM | — | 6.3% | -0.2% | 7.7 | 79,918 | -1,362 | 5 | — |
| ☆CUSIP:084670207 funds › | Berkshire Hathaway B | HOLD | — | 6.1% | -0.3% | 7.4 | 14,730 | +0 | 5 | — |
| ☆MSFT funds › | Microsoft | ADD | — | 5.1% | -0.4% | 6.2 | 16,602 | +1 | 5 | — |
| ☆JNJ funds › | Johnson & Johnson | ADD | — | 4.6% | -0.3% | 5.6 | 22,123 | +5 | 5 | — |
| ☆KVUE funds › | Kenvue | ADD | — | 3.8% | +0.0% | 4.6 | 243,012 | +307 | 5 | — |
| ☆PFE funds › | Pfizer | ADD | — | 3.3% | -0.9% | 4.0 | 165,789 | +135 | 5 | — |
| ☆MTD funds › | Mettler-Toledo | HOLD | — | 3.3% | -0.3% | 4.0 | 3,099 | +0 | 5 | — |
| ☆RBA funds › | Ritchie Global | TRIM | — | 3.2% | +0.2% | 3.8 | 33,000 | -800 | 5 | — |
| ☆ADBE funds › | Adobe | ADD | — | 1.8% | -0.5% | 2.1 | 10,420 | +50 | 2 | — |
| ☆VT funds › | Vanguard Total World Stock ETF | TRIM | — | 1.2% | +0.0% | 1.5 | 9,328 | -281 | 5 | — |
| ☆FAST funds › | Fastenal | HOLD | — | 0.4% | -0.0% | 0.5 | 10,000 | +0 | 5 | — |
| ☆AAPL funds › | Apple | HOLD | — | 0.0% | +0.0% | 0.0 | 98 | +0 | 5 | — |
Point-in-time history
| Period | AUM ($M) | Positions | Turnover | Top-10 wt | Herfindahl | Quality Q | Skill | Universe |
|---|---|---|---|---|---|---|---|---|
| 2026Q2 | 122 | 18 | 0.04 | 83% | 0.088 | 0.713 | — | in |
| 2026Q1 | 111 | 18 | 0.06 | 82% | 0.086 | 0.654 | — | in |
| 2025Q4 | 111 | 17 | 0.04 | 83% | 0.086 | 0.663 | — | in |
| 2025Q3 | 111 | 18 | 0.02 | 84% | 0.088 | 0.698 | — | in |
| 2025Q2 | 109 | 18 | 0.05 | 85% | 0.089 | 0.694 | — | entered |
| 2025Q1 | 100 | 18 | 0.00 | 83% | 0.085 | 0.000 | — | out |