Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-2.41%
trims when stocks drop
when a holding falls −10%+
Middle response
-1.83%
baseline attrition
Rally response
-1.79%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| IVWiShares S&P 500 Growth E | $109M | 6.2% | — | 10.5 yr |
| IVViShares Core S&P 500 ETF | $76M | 4.3% | — | 10.5 yr |
| AAPLApple Inc. | $64M | 3.6% | +14.7% | 10.5 yr |
| IVEiShares S&P 500 Value ET | $62M | 3.5% | — | 10.5 yr |
| SPYGState Street SPDR Portfo | $54M | 3.0% | — | 7.5 yr |
| SPYVState Street SPDR Portfo | $44M | 2.5% | — | 7.3 yr |
| IJHiShares Core S&P Mid-Cap | $43M | 2.4% | — | 10.5 yr |
| IJJiShares S&P Mid-Cap 400 | $30M | 1.7% | — | 10.3 yr |
| IWNiShares Russell 2000 Val | $29M | 1.7% | — | 10.3 yr |
| EFAiShares MSCI EAFE ETF | $29M | 1.6% | — | 10.5 yr |
| MSFTMicrosoft Corporation | $29M | 1.6% | -0.6% | 10.5 yr |
| VTVVanguard Value ETF | $28M | 1.6% | — | 10.5 yr |
| IJRiShares Core S&P Small-C | $26M | 1.5% | — | 10.5 yr |
| IJKiShares S&P Mid-Cap 400 | $26M | 1.5% | — | 10.5 yr |
| VGKVanguard FTSE Europe ETF | $24M | 1.3% | — | 8.8 yr |
Portfolio composition (YoY)
Industry mix
Asset Management58.9%+3.3pp$1.04B
Asset Management - Bonds4.7%-0.3pp$83M
Consumer Electronics3.6%-0.4pp$64M
Asset Management - Income2.4%+0.0pp$43M
Software - Infrastructure2.3%-0.5pp$41M
Banks - Diversified2.3%+0.1pp$40M
Drug Manufacturers - General2.3%+0.0pp$40M
Aerospace & Defense1.8%+0.2pp$32M
Internet Content & Information1.7%+0.4pp$30M
Oil & Gas Integrated1.6%+0.0pp$28M
Country
US98.3%+0.1pp
GB0.7%-0.3pp
IE0.3%-0.1pp
Unknown0.3%+0.1pp
JP0.1%
CA0.1%+0.0pp
FR0.1%-0.0pp
CH0.1%+0.0pp
Top 5: 20.7% · Top 10: 30.7% · Top 25: 48.6%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| GOOG | $15M | +0.01B | 84.3% |
| AAPL | $61M | +0.01B | 14.7% |
| JNJ | $11M | +0.01B | 51.5% |
| XOM | $10M | +0.00B | 47.6% |
| JPM | $21M | +0.00B | 21.8% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| MSFT | $31M | -0.00B | -0.6% |
Top buys this quarter · 15
| GEV GE Vernova Inc. | +$2M |
| AVGO Broadcom Inc. | +$2M |
| UPS United Parcel Service, Inc. | +$1M |
| CRM Salesforce, Inc. | +$1M |
| AZN AstraZeneca PLCnew | +$1M |
| AAPL Apple Inc. | +$64M |
| CRWD CrowdStrike Holdings, Inc.new | +$1M |
| AMD Advanced Micro Devices, Inc. | +$1M |
| TRV The Travelers Companies, Inc. | +$1M |
| PG The Procter & Gamble Company | +$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.76B | 383 | +18.77% | +17.59% | +1.18% | +0.02B |
| 2025-12-31 | $1.76B | 382 | +17.51% | +17.72% | -0.21% | -0.02B |
| 2025-09-30 | $1.72B | 388 | +14.87% | +17.52% | -2.65% | -0.04B |
| 2025-06-30 | $1.63B | 383 | +13.48% | +14.94% | -1.46% | +0.01B |
| 2025-03-31 | $1.51B | 371 | +8.67% | +8.30% | +0.37% | +0.10B |
| 2024-12-31 | $1.44B | 358 | +18.10% | +24.89% | -6.79% | -0.02B |
| 2024-09-30 | $1.44B | 356 | +28.74% | +36.04% | -7.29% | +0.09B |
| 2024-06-30 | $1.26B | 338 | +15.21% | +24.49% | -9.29% | -0.14B |
| 2024-03-31 | $1.36B | 354 | +19.84% | +29.62% | -9.78% | -0.02B |
| 2023-12-31 | $1.30B | 352 | +18.32% | +26.18% | -7.86% | -0.01B |
| 2023-09-30 | $1.19B | 338 | +10.93% | +21.57% | -10.63% | -0.02B |
| 2023-06-30 | $1.25B | 358 | +0.21% | +19.42% | -19.22% | +0.29B |
| 2023-03-31 | $905M | 287 | -40.57% | -7.82% | -32.75% | -0.01B |
| 2022-12-31 | $868M | 291 | -46.08% | -18.17% | -27.91% | +0.04B |
| 2022-09-30 | $807M | 281 | -41.91% | -15.51% | -26.40% | +0.07B |
| 2022-06-30 | $854M | 276 | -32.69% | -10.62% | -22.07% | +0.22B |