Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+13.26%
adds when stocks drop
when a holding falls −10%+
Middle response
-6.48%
baseline attrition
Rally response
-5.52%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| ARESAres Management Corporat | $1.46B | 29.6% | -23.1% | 6.3 yr |
| SPYState Street SPDR S&P 50 | $492M | 10.0% | +17.6% | 9.5 yr |
| JEFJefferies Financial Grou | $382M | 7.8% | -20.7% | 3.5 yr |
| GLDSPDR Gold Shares | $254M | 5.2% | — | 8.5 yr |
| — | $190M | 3.9% | — | 0.3 yr |
| CMECME Group Inc. | $139M | 2.8% | +15.6% | 9.3 yr |
| AGGiShares Core U.S. Aggreg | $134M | 2.7% | — | 9.0 yr |
| QQQInvesco QQQ Trust, Serie | $105M | 2.1% | — | 7.3 yr |
| LQDiShares iBoxx $ Investme | $91M | 1.8% | — | 9.0 yr |
| NVDANVIDIA Corporation | $82M | 1.7% | +60.9% | 8.8 yr |
| IEFiShares 7-10 Year Treasu | $82M | 1.7% | — | 9.0 yr |
| AVGOBroadcom Inc. | $73M | 1.5% | +86.0% | 7.3 yr |
| GOOGAlphabet Inc. | $73M | 1.5% | +84.3% | 8.3 yr |
| SOXXiShares Semiconductor ET | $68M | 1.4% | — | 5.8 yr |
| HYGiShares iBoxx $ High Yie | $62M | 1.3% | — | 9.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management58.1%-11.9pp$2.86B
Asset Management - Bonds8.4%+1.6pp$415M
Financial - Capital Markets7.8%-1.3pp$382M
Unknown3.9%$190M
Semiconductors3.4%+1.3pp$169M
Financial - Data & Stock Exchanges2.8%+0.5pp$140M
Internet Content & Information2.4%+1.0pp$119M
Software - Infrastructure2.1%+0.4pp$102M
Computer Hardware1.2%+0.6pp$60M
Specialty Retail1.2%+0.3pp$57M
Country
US96.1%-3.9pp
Unknown3.9%
CA0.0%
GB0.0%-0.0pp
Top 5: 56.4% · Top 10: 67.6% · Top 25: 85.2%
Top buys this quarter · 15
| APH Amphenol Corporationnew | +$29M |
| MSFT Microsoft Corporation | +$47M |
| NEM Newmont Corporation | +$7M |
| INTU Intuit Inc. | +$24M |
| AVGO Broadcom Inc. | +$73M |
| BSX Boston Scientific Corporation | +$21M |
| GOOG Alphabet Inc. | +$73M |
| GE GE Aerospace | +$4M |
| FSLR First Solar, Inc. | +$26M |
| ANET Arista Networks, Inc. | +$60M |
Top sells this quarter · 15
| UNH UnitedHealth Group Incorporateexit | −$28M |
| GM General Motors Company | −$4M |
| APD Air Products and Chemicals, Inexit | −$2M |
| VRT Vertiv Holdings Coexit | −$1M |
| MU Micron Technology, Inc. | −$0M |
| TSM Taiwan Semiconductor Manufactuexit | −$0M |
| ALGN Align Technology, Inc. | −$0M |
| ALB Albemarle Corporationexit | −$0M |
| PG The Procter & Gamble Company | −$0M |
| JNJ Johnson & Johnson | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $4.92B | 166 | -8.03% | +17.59% | -25.62% | +0.58B |
| 2025-12-31 | $5.58B | 161 | +1.39% | +17.72% | -16.33% | -0.18B |
| 2025-09-30 | $5.70B | 149 | +14.35% | +17.52% | -3.16% | -0.54B |
| 2025-06-30 | $6.13B | 162 | +39.49% | +14.94% | +24.55% | -0.14B |
| 2025-03-31 | $5.46B | 145 | +22.80% | +8.30% | +14.50% | -0.97B |
| 2024-12-31 | $7.50B | 133 | +60.14% | +24.89% | +35.25% | +2.43B |
| 2024-09-30 | $4.45B | 136 | +62.63% | +36.04% | +26.59% | +0.46B |
| 2024-06-30 | $3.21B | 141 | +37.78% | +24.49% | +13.29% | -0.05B |
| 2024-03-31 | $3.22B | 137 | +53.42% | +29.62% | +23.79% | -0.30B |
| 2023-12-31 | $3.15B | 139 | +59.55% | +26.18% | +33.38% | -0.44B |
| 2023-09-30 | $3.10B | 142 | +52.03% | +21.57% | +30.46% | -0.20B |
| 2023-06-30 | $3.14B | 147 | +46.95% | +19.42% | +27.53% | -0.44B |
| 2023-03-31 | $3.18B | 144 | -3.87% | -7.82% | +3.95% | +0.12B |
| 2022-12-31 | $2.64B | 143 | -21.10% | -18.17% | -2.93% | +0.07B |
| 2022-09-30 | $2.33B | 145 | -20.61% | -15.51% | -5.11% | -1.23B |
| 2022-06-30 | $3.50B | 155 | -21.57% | -10.62% | -10.95% | +1.09B |