Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-2.89%
trims when stocks drop
when a holding falls −10%+
Middle response
-4.05%
baseline attrition
Rally response
-6.53%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| IEMGiShares Core MSCI Emergi | $31M | 2.5% | — | 0.5 yr |
| AMZNAmazon.com, Inc. | $23M | 1.9% | +9.5% | 3.5 yr |
| AAPLApple Inc. | $22M | 1.8% | +14.7% | 4.3 yr |
| NVDANVIDIA Corporation | $21M | 1.7% | +60.9% | 4.5 yr |
| GOOGLAlphabet Inc. | $21M | 1.7% | — | 4.5 yr |
| MSFTMicrosoft Corporation | $21M | 1.7% | -0.6% | 4.5 yr |
| METAMeta Platforms, Inc. | $20M | 1.6% | -0.4% | 4.5 yr |
| USMViShares MSCI USA Min Vol | $15M | 1.2% | — | 0.3 yr |
| NFLXNetflix, Inc. | $15M | 1.2% | +3.1% | 3.5 yr |
| JPMJPMorgan Chase & Co. | $13M | 1.1% | +21.8% | 2.3 yr |
| XLPState Street Consumer St | $13M | 1.0% | — | 0.3 yr |
| FLJPFranklin FTSE Japan ETF | $12M | 1.0% | — | 0.5 yr |
| IEFAiShares Core MSCI EAFE E | $12M | 1.0% | — | 0.5 yr |
| XLKState Street Technology | $11M | 0.9% | — | 2.0 yr |
| CSCOCisco Systems, Inc. | $11M | 0.9% | +28.1% | 1.3 yr |
Portfolio composition (YoY)
Industry mix
Asset Management11.3%+4.2pp$140M
Semiconductors5.2%+1.5pp$64M
Software - Application4.9%+1.3pp$61M
Software - Infrastructure4.1%-1.6pp$51M
Internet Content & Information3.9%+2.1pp$48M
Banks - Regional3.3%+0.0pp$41M
Drug Manufacturers - General2.5%+1.2pp$30M
Specialty Retail2.4%+1.7pp$30M
Biotechnology2.1%-0.5pp$26M
Consumer Electronics2.0%+0.8pp$25M
Country
US94.6%+2.6pp
Unknown1.7%-1.8pp
BM0.7%-0.4pp
IE0.7%+0.1pp
GB0.6%-0.4pp
HK0.6%+0.3pp
LU0.3%+0.3pp
BS0.2%+0.2pp
Top 5: 9.6% · Top 10: 16.4% · Top 25: 27.9%
Top buys this quarter · 15
| COST Costco Wholesale Corporationnew | +$8M |
| CSCO Cisco Systems, Inc. | +$7M |
| NFLX Netflix, Inc. | +$7M |
| VZ Verizon Communications Inc. | +$5M |
| META Meta Platforms, Inc. | +$4M |
| KLAC KLA Corporation | +$4M |
| MGY Magnolia Oil & Gas Corporation | +$4M |
| PCTY Paylocity Holding Corporation | +$3M |
| EXPO Exponent, Inc. | +$3M |
| LFUS Littelfuse, Inc. | +$3M |
Top sells this quarter · 15
| HD The Home Depot, Inc.exit | −$13M |
| CHEF The Chefs' Warehouse, Inc. | −$7M |
| V Visa Inc.exit | −$7M |
| AMD Advanced Micro Devices, Inc.exit | −$7M |
| KO The Coca-Cola Companyexit | −$5M |
| UCTT Ultra Clean Holdings, Inc. | −$5M |
| ECVT Ecovyst Inc. | −$5M |
| NVDA NVIDIA Corporation | −$4M |
| AEIS Advanced Energy Industries, In | −$4M |
| TXN Texas Instruments Incorporatedexit | −$4M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.23B | 1211 | +15.36% | +17.59% | -2.23% | -0.02B |
| 2025-12-31 | $1.29B | 1320 | +8.86% | +17.72% | -8.86% | -0.00B |
| 2025-09-30 | $1.29B | 1336 | +8.72% | +17.52% | -8.80% | -1.28B |
| 2025-06-30 | $2.38B | 1380 | +7.95% | +14.94% | -6.99% | -0.03B |
| 2025-03-31 | $2.19B | 1400 | -2.82% | +8.30% | -11.12% | +0.09B |
| 2024-12-31 | $2.29B | 1318 | +13.81% | +24.89% | -11.08% | -0.02B |
| 2024-09-30 | $2.30B | 1339 | +29.40% | +36.04% | -6.64% | +0.90B |
| 2024-06-30 | $1.31B | 724 | +16.10% | +24.49% | -8.39% | +0.56B |
| 2024-03-31 | $765M | 744 | +24.78% | +29.62% | -4.85% | +0.21B |
| 2023-12-31 | $515M | 436 | +26.79% | +26.18% | +0.61% | -0.01B |
| 2023-09-30 | $464M | 443 | +7.04% | +21.57% | -14.53% | -0.02B |
| 2023-06-30 | $500M | 661 | +7.98% | +19.42% | -11.45% | +0.13B |
| 2023-03-31 | $347M | 246 | -28.97% | -7.82% | -21.15% | +0.24B |
| 2022-12-31 | $101M | 158 | -3.73% | +7.56% | -11.29% | -0.00B |
| 2022-09-30 | $107M | 156 | -3.25% | -4.93% | +1.68% | -0.02B |
| 2022-06-30 | $131M | 160 | -30.15% | -16.11% | -14.04% | -0.02B |