Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+0.05%
adds when stocks drop
when a holding falls −10%+
Middle response
+2.93%
steady accumulation
Rally response
-0.32%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| VTVVanguard Value ETF | $1.10B | 6.7% | — | 10.3 yr |
| VUGVanguard Growth ETF | $791M | 4.8% | — | 10.3 yr |
| IXUSiShares Core MSCI Total | $673M | 4.1% | — | 8.0 yr |
| AGGiShares Core U.S. Aggreg | $513M | 3.1% | — | 10.3 yr |
| AAPLApple Inc. | $387M | 2.4% | +14.7% | 10.3 yr |
| MSFTMicrosoft Corporation | $328M | 2.0% | -0.6% | 10.3 yr |
| IWNiShares Russell 2000 Val | $241M | 1.5% | — | 10.3 yr |
| VEAVanguard FTSE Developed | $229M | 1.4% | — | 10.3 yr |
| AVGOBroadcom Inc. | $221M | 1.4% | +86.0% | 7.8 yr |
| SPIBState Street SPDR Portfo | $217M | 1.3% | — | 4.0 yr |
| NVDANVIDIA Corporation | $189M | 1.2% | +60.9% | 10.3 yr |
| COSTCostco Wholesale Corpora | $189M | 1.2% | +5.9% | 10.3 yr |
| RTXRTX Corporation | $173M | 1.1% | +48.1% | 6.0 yr |
| IWOiShares Russell 2000 Gro | $171M | 1.0% | — | 10.3 yr |
| JNJJohnson & Johnson | $162M | 1.0% | +51.5% | 10.3 yr |
Portfolio composition (YoY)
Industry mix
Asset Management49.9%-0.2pp$8.16B
Semiconductors3.8%+0.9pp$619M
Drug Manufacturers - General3.6%+0.1pp$588M
Asset Management - Bonds3.2%+0.4pp$519M
Software - Infrastructure2.5%-0.3pp$413M
Consumer Electronics2.4%-0.3pp$387M
Aerospace & Defense1.8%+0.3pp$301M
Internet Content & Information1.8%+0.4pp$289M
Discount Stores1.6%+0.0pp$259M
Asset Management - Income1.5%+0.1pp$252M
Country
US96.1%-0.5pp
CH1.0%-0.1pp
Unknown0.6%+0.3pp
IE0.6%-0.0pp
CA0.6%+0.2pp
GB0.5%+0.1pp
TW0.2%+0.1pp
FR0.1%+0.0pp
Top 5: 21.2% · Top 10: 28.7% · Top 25: 43.0%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| AVGO | $115M | +0.10B | 86.0% |
| NVDA | $109M | +0.07B | 60.9% |
| CMI | $71M | +0.05B | 74.8% |
| RTX | $104M | +0.05B | 48.1% |
| AAPL | $331M | +0.05B | 14.7% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| MSFT | $282M | -0.00B | -0.6% |
Top buys this quarter · 15
| NOW ServiceNow, Inc. | +$17M |
| MSFT Microsoft Corporation | +$328M |
| ADP Automatic Data Processing, Inc | +$88M |
| SPGI S&P Global Inc. | +$84M |
| TTAN ServiceTitan, Inc.new | +$8M |
| ACN Accenture plc | +$61M |
| AAPL Apple Inc. | +$387M |
| FCX Freeport-McMoRan Inc. | +$6M |
| OKE ONEOK, Inc. | +$6M |
| AMZN Amazon.com, Inc. | +$162M |
Top sells this quarter · 15
| CMI Cummins Inc. | −$17M |
| VLO Valero Energy Corporation | −$15M |
| JNJ Johnson & Johnson | −$148M |
| ADBE Adobe Inc. | −$8M |
| RTX RTX Corporation | −$170M |
| AVGO Broadcom Inc. | −$5M |
| IBM International Business Machine | −$4M |
| GS The Goldman Sachs Group, Inc. | −$4M |
| NEE NextEra Energy, Inc. | −$86M |
| JPM JPMorgan Chase & Co. | −$4M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $16.36B | 1543 | +17.62% | +17.59% | +0.03% | +0.42B |
| 2025-12-31 | $16.19B | 1498 | +16.70% | +17.72% | -1.02% | +0.22B |
| 2025-09-30 | $15.51B | 1499 | +14.65% | +17.52% | -2.86% | +0.39B |
| 2025-06-30 | $14.09B | 1422 | +14.00% | +14.94% | -0.94% | +0.74B |
| 2025-03-31 | $12.34B | 1386 | +6.47% | +8.30% | -1.84% | +0.43B |
| 2024-12-31 | $12.20B | 1399 | +16.64% | +24.89% | -8.25% | +0.03B |
| 2024-09-30 | $12.04B | 1361 | +28.32% | +36.04% | -7.71% | +0.07B |
| 2024-06-30 | $11.22B | 1346 | +15.99% | +24.49% | -8.51% | +0.07B |
| 2024-03-31 | $11.02B | 1345 | +21.23% | +29.62% | -8.39% | +0.19B |
| 2023-12-31 | $10.13B | 1323 | +18.29% | +26.18% | -7.88% | -0.05B |
| 2023-09-30 | $9.15B | 1289 | +15.91% | +21.57% | -5.66% | +0.08B |
| 2023-06-30 | $9.41B | 1299 | +13.84% | +19.42% | -5.58% | +0.13B |
| 2023-03-31 | $8.78B | 1302 | -7.40% | -7.82% | +0.42% | +0.04B |
| 2022-12-31 | $8.37B | 1275 | -15.37% | -18.17% | +2.81% | +0.19B |
| 2022-09-30 | $7.50B | 1242 | -13.79% | -15.51% | +1.72% | +0.09B |
| 2022-06-30 | $7.83B | 1238 | -8.44% | -10.62% | +2.19% | +0.06B |