Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-3.55%
trims when stocks drop
when a holding falls −10%+
Middle response
-2.11%
baseline attrition
Rally response
-1.44%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| IVViShares Core S&P 500 ETF | $2.08B | 7.6% | — | 10.5 yr |
| AAPLApple Inc. | $1.23B | 4.5% | +14.7% | 10.5 yr |
| MSFTMicrosoft Corporation | $1.03B | 3.8% | -0.6% | 10.5 yr |
| IEFAiShares Core MSCI EAFE E | $922M | 3.4% | — | 10.5 yr |
| NVDANVIDIA Corporation | $921M | 3.4% | +60.9% | 10.5 yr |
| GOOGLAlphabet Inc. | $872M | 3.2% | — | 10.5 yr |
| AMZNAmazon.com, Inc. | $652M | 2.4% | +9.5% | 10.5 yr |
| IJHiShares Core S&P Mid-Cap | $618M | 2.3% | — | 10.5 yr |
| JPMJPMorgan Chase & Co. | $526M | 1.9% | +21.8% | 10.5 yr |
| AVGOBroadcom Inc. | $518M | 1.9% | +86.0% | 8.0 yr |
| QUALiShares MSCI USA Quality | $484M | 1.8% | — | 7.8 yr |
| CCJCameco Corporation | $483M | 1.8% | +164.4% | 8.5 yr |
| IJRiShares Core S&P Small-C | $477M | 1.8% | — | 10.5 yr |
| VEAVanguard FTSE Developed | $401M | 1.5% | — | 10.5 yr |
| VOOVanguard S&P 500 ETF | $385M | 1.4% | — | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management36.6%+3.7pp$9.98B
Semiconductors6.5%+2.1pp$1.78B
Software - Infrastructure4.6%-0.6pp$1.25B
Consumer Electronics4.5%-0.1pp$1.23B
Internet Content & Information4.3%+1.5pp$1.17B
Drug Manufacturers - General3.6%+0.5pp$994M
Banks - Diversified3.3%+0.3pp$913M
Specialty Retail2.8%+0.0pp$772M
Industrial - Machinery2.7%+0.3pp$746M
Oil & Gas Integrated2.0%+0.8pp$535M
Country
US95.6%-1.5pp
CA2.0%+0.7pp
IE0.7%-0.0pp
CH0.4%+0.1pp
NL0.4%+0.3pp
Unknown0.3%+0.2pp
GB0.2%+0.1pp
SG0.1%+0.0pp
Top 5: 22.6% · Top 10: 34.3% · Top 25: 53.7%
Top buys this quarter · 15
| BA The Boeing Company | +$43M |
| ORLY O'Reilly Automotive, Inc. | +$30M |
| PR Permian Resources Corporation | +$30M |
| TDW Tidewater Inc.new | +$25M |
| PM Philip Morris International In | +$23M |
| ABBV AbbVie Inc. | +$20M |
| BRO Brown & Brown, Inc. | +$19M |
| SPOT Spotify Technology S.A. | +$17M |
| SBUX Starbucks Corporation | +$11M |
| ANET Arista Networks, Inc. | +$11M |
Top sells this quarter · 15
| CCJ Cameco Corporation | −$449M |
| TMUS T-Mobile US, Inc. | −$33M |
| CVX Chevron Corporation | −$225M |
| GTLS Chart Industries, Inc. | −$30M |
| NEM Newmont Corporation | −$29M |
| ULTA Ulta Beauty, Inc. | −$16M |
| PH Parker-Hannifin Corporation | −$15M |
| DT Dynatrace, Inc. | −$13M |
| ZS Zscaler, Inc. | −$13M |
| AXP American Express Company | −$13M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $27.27B | 1233 | +19.40% | +17.59% | +1.81% | +0.22B |
| 2025-12-31 | $27.81B | 1189 | +16.96% | +17.72% | -0.76% | -1.21B |
| 2025-09-30 | $28.36B | 1170 | +15.94% | +17.52% | -1.57% | -0.47B |
| 2025-06-30 | $26.78B | 1158 | +14.60% | +14.94% | -0.34% | -0.94B |
| 2025-03-31 | $24.87B | 1144 | +4.28% | +8.30% | -4.02% | +0.16B |
| 2024-12-31 | $25.94B | 1151 | +18.24% | +24.89% | -6.65% | -0.26B |
| 2024-09-30 | $25.82B | 1124 | +29.97% | +36.04% | -6.07% | -0.07B |
| 2024-06-30 | $24.34B | 1085 | +16.86% | +24.49% | -7.63% | -0.13B |
| 2024-03-31 | $24.12B | 1084 | +24.63% | +29.62% | -4.99% | -0.07B |
| 2023-12-31 | $22.40B | 1072 | +22.48% | +26.18% | -3.70% | -0.76B |
| 2023-09-30 | $20.77B | 1019 | +19.07% | +21.57% | -2.50% | -0.20B |
| 2023-06-30 | $21.93B | 1048 | +19.27% | +19.42% | -0.16% | -0.69B |
| 2023-03-31 | $20.90B | 1048 | -4.81% | -7.82% | +3.00% | -0.61B |
| 2022-12-31 | $20.27B | 1049 | -14.45% | -18.17% | +3.72% | -0.43B |
| 2022-09-30 | $19.09B | 1036 | -12.35% | -15.51% | +3.15% | -0.42B |
| 2022-06-30 | $20.36B | 1056 | -8.01% | -10.62% | +2.61% | +0.02B |