Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-7.66%
trims when stocks drop
when a holding falls −10%+
Middle response
-7.93%
baseline attrition
Rally response
-3.65%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| MSFTMicrosoft Corporation | $370M | 14.9% | -0.6% | 10.5 yr |
| IVViShares Core S&P 500 ETF | $193M | 7.8% | — | 10.5 yr |
| GOOGAlphabet Inc. | $110M | 4.4% | +84.3% | 5.5 yr |
| IEFAiShares Core MSCI EAFE E | $100M | 4.0% | — | 5.5 yr |
| JEPIJPMorgan Equity Premium | $89M | 3.6% | — | 5.0 yr |
| MOATVanEck Morningstar Wide | $72M | 2.9% | — | 5.5 yr |
| AAPLApple Inc. | $71M | 2.9% | +14.7% | 10.5 yr |
| AMZNAmazon.com, Inc. | $60M | 2.4% | +9.5% | 10.5 yr |
| GSLCGoldman Sachs ActiveBeta | $57M | 2.3% | — | 8.0 yr |
| IEMGiShares Core MSCI Emergi | $54M | 2.2% | — | 5.5 yr |
| IWRiShares Russell Mid-Cap | $54M | 2.2% | — | 6.3 yr |
| BRK-BBerkshire Hathaway Inc. | $50M | 2.0% | — | 10.5 yr |
| GSIEGoldman Sachs ActiveBeta | $44M | 1.8% | — | 8.8 yr |
| GSSCGoldman Sachs ActiveBeta | $38M | 1.5% | — | 6.0 yr |
| AMDAdvanced Micro Devices, | $37M | 1.5% | +98.0% | 5.3 yr |
Portfolio composition (YoY)
Industry mix
Asset Management40.9%+3.8pp$1.02B
Software - Infrastructure15.3%-0.9pp$379M
Internet Content & Information5.4%+1.4pp$133M
Semiconductors4.8%+1.1pp$119M
Asset Management - Income3.9%+0.1pp$98M
Asset Management - Bonds3.3%-1.2pp$81M
Consumer Electronics2.9%+0.0pp$71M
Specialty Retail2.6%-0.5pp$65M
Insurance - Diversified2.2%-0.7pp$54M
Software - Application1.4%-0.4pp$35M
Country
US97.6%+1.7pp
CA0.6%-0.7pp
Unknown0.4%-0.5pp
NL0.4%+0.2pp
GB0.4%+0.0pp
IE0.3%-0.5pp
UY0.1%-0.1pp
BM0.1%+0.0pp
Top 5: 34.7% · Top 10: 47.4% · Top 25: 66.8%
Top buys this quarter · 15
| BR Broadridge Financial Solutionsnew | +$4M |
| AZN AstraZeneca PLCnew | +$3M |
| DHR Danaher Corporation | +$1M |
| V Visa Inc. | +$1M |
| TJX The TJX Companies, Inc. | +$1M |
| TYG Tortoise Energy Infrastructure | +$1M |
| UBER Uber Technologies, Inc. | +$17M |
| BETA BETA Technologies, Inc.new | +$1M |
| MRK Merck & Co., Inc. | +$0M |
| GE GE Aerospace | +$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $2.48B | 333 | +13.11% | +17.59% | -4.48% | +0.13B |
| 2025-12-31 | $2.65B | 336 | +19.22% | +17.72% | +1.50% | -0.08B |
| 2025-09-30 | $2.70B | 333 | +18.61% | +17.52% | +1.09% | -0.20B |
| 2025-06-30 | $2.70B | 328 | +11.36% | +14.94% | -3.58% | -0.18B |
| 2025-03-31 | $2.46B | 330 | -0.70% | +8.30% | -9.00% | -0.03B |
| 2024-12-31 | $2.66B | 340 | +15.74% | +24.89% | -9.15% | -0.01B |
| 2024-09-30 | $2.65B | 354 | +29.50% | +36.04% | -6.53% | +0.01B |
| 2024-06-30 | $2.62B | 430 | +24.21% | +24.49% | -0.28% | +0.01B |
| 2024-03-31 | $2.50B | 432 | +31.22% | +29.62% | +1.60% | +0.11B |
| 2023-12-31 | $2.19B | 430 | +34.01% | +26.18% | +7.83% | -0.22B |
| 2023-09-30 | $2.14B | 423 | +24.74% | +21.57% | +3.18% | -0.10B |
| 2023-06-30 | $2.31B | 415 | +21.00% | +19.42% | +1.58% | -0.08B |
| 2023-03-31 | $2.17B | 391 | -7.97% | -7.82% | -0.16% | -0.15B |
| 2022-12-31 | $2.09B | 399 | -21.19% | -18.17% | -3.01% | -0.05B |
| 2022-09-30 | $2.04B | 383 | -16.44% | -15.51% | -0.93% | -0.09B |
| 2022-06-30 | $2.26B | 398 | -10.67% | -10.62% | -0.05% | -0.06B |