Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-0.71%
trims when stocks drop
when a holding falls −10%+
Middle response
-0.13%
baseline attrition
Rally response
-0.87%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| AAPLApple Inc. | $340M | 4.4% | +14.7% | 10.5 yr |
| GOOGLAlphabet Inc. | $224M | 2.9% | — | 10.5 yr |
| QQQInvesco QQQ Trust, Serie | $187M | 2.4% | — | 8.0 yr |
| MSFTMicrosoft Corporation | $183M | 2.4% | -0.6% | 10.5 yr |
| VOOVanguard S&P 500 ETF | $173M | 2.2% | — | 10.5 yr |
| JPMJPMorgan Chase & Co. | $166M | 2.1% | +21.8% | 10.5 yr |
| SPYState Street SPDR S&P 50 | $141M | 1.8% | +17.6% | 10.5 yr |
| GOOGAlphabet Inc. | $135M | 1.8% | +84.3% | 10.5 yr |
| SGOViShares 0-3 Month Treasu | $124M | 1.6% | — | 3.5 yr |
| XOMExxon Mobil Corporation | $121M | 1.6% | +47.6% | 10.5 yr |
| AMZNAmazon.com, Inc. | $118M | 1.5% | +9.5% | 10.5 yr |
| VBVanguard Small-Cap ETF | $107M | 1.4% | — | 10.5 yr |
| JNJJohnson & Johnson | $102M | 1.3% | +51.5% | 10.5 yr |
| BIVVanguard Intermediate-Te | $97M | 1.3% | — | 10.5 yr |
| VWOVanguard FTSE Emerging M | $90M | 1.2% | — | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management30.5%+3.3pp$2.36B
Internet Content & Information5.6%+1.5pp$434M
Drug Manufacturers - General5.2%+0.1pp$398M
Asset Management - Bonds4.7%+0.9pp$366M
Consumer Electronics4.4%-0.4pp$340M
Semiconductors4.2%+1.4pp$322M
Software - Infrastructure3.5%-0.7pp$272M
Banks - Diversified2.8%-0.1pp$216M
Oil & Gas Integrated2.6%+0.3pp$199M
Aerospace & Defense1.9%+0.2pp$146M
Country
US96.5%-0.2pp
IE1.1%-0.1pp
NL0.5%+0.3pp
CH0.4%-0.1pp
GB0.4%+0.1pp
Unknown0.2%-0.2pp
IL0.2%-0.2pp
CA0.1%+0.1pp
Top 5: 14.3% · Top 10: 23.2% · Top 25: 39.5%
Top buys this quarter · 15
| AZN AstraZeneca PLCnew | +$14M |
| NFLX Netflix, Inc. | +$5M |
| MSFT Microsoft Corporation | +$183M |
| VST Vistra Corp.new | +$4M |
| INTU Intuit Inc. | +$18M |
| CMI Cummins Inc. | +$3M |
| NOW ServiceNow, Inc. | +$2M |
| NUE Nucor Corporation | +$2M |
| AVGO Broadcom Inc. | +$40M |
| SYK Stryker Corporation | +$2M |
Top sells this quarter · 15
| AAPL Apple Inc. | −$9M |
| BE Bloom Energy Corporation | −$17M |
| FIZZ National Beverage Corp.exit | −$4M |
| EQIX Equinix, Inc. | −$4M |
| LOW Lowe's Companies, Inc. | −$4M |
| FSLR First Solar, Inc. | −$4M |
| JNJ Johnson & Johnson | −$89M |
| FTNT Fortinet, Inc. | −$3M |
| EW Edwards Lifesciences Corporati | −$3M |
| SPY State Street SPDR S&P 500 ETF | −$3M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $7.72B | 648 | +14.67% | +17.59% | -2.92% | +0.02B |
| 2025-12-31 | $7.85B | 644 | +15.01% | +17.72% | -2.71% | +0.08B |
| 2025-09-30 | $7.59B | 673 | +12.04% | +17.52% | -5.47% | +0.07B |
| 2025-06-30 | $6.98B | 670 | +11.26% | +14.94% | -3.68% | -0.06B |
| 2025-03-31 | $6.64B | 669 | +6.86% | +8.30% | -1.45% | -0.06B |
| 2024-12-31 | $6.82B | 690 | +17.11% | +24.89% | -7.77% | -0.03B |
| 2024-09-30 | $6.86B | 701 | +29.76% | +36.04% | -6.28% | -0.02B |
| 2024-06-30 | $6.44B | 686 | +17.40% | +24.49% | -7.09% | -0.01B |
| 2024-03-31 | $6.33B | 694 | +21.68% | +29.62% | -7.94% | -0.01B |
| 2023-12-31 | $5.88B | 692 | +16.24% | +26.18% | -9.94% | -0.03B |
| 2023-09-30 | $5.35B | 688 | +15.70% | +21.57% | -5.87% | -0.03B |
| 2023-06-30 | $5.56B | 700 | +14.39% | +19.42% | -5.04% | +0.06B |
| 2023-03-31 | $5.21B | 699 | -4.79% | -7.82% | +3.03% | +0.02B |
| 2022-12-31 | $5.04B | 674 | -11.86% | -18.17% | +6.31% | -0.31B |
| 2022-09-30 | $4.86B | 682 | -11.04% | -15.51% | +4.47% | +0.71B |
| 2022-06-30 | $4.34B | 652 | -6.45% | -10.62% | +4.17% | -0.11B |