Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+5.99%
adds when stocks drop
when a holding falls −10%+
Middle response
-5.70%
baseline attrition
Rally response
-0.67%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| IWXiShares Russell Top 200 | $549M | 11.9% | — | 6.0 yr |
| IWSiShares Russell Mid-Cap | $389M | 8.4% | — | 9.5 yr |
| IWPiShares Russell Mid-Cap | $197M | 4.3% | — | 9.8 yr |
| AGGiShares Core U.S. Aggreg | $186M | 4.0% | — | 8.0 yr |
| IEFAiShares Core MSCI EAFE E | $183M | 4.0% | — | 10.3 yr |
| AAPLApple Inc. | $163M | 3.5% | +14.7% | 10.5 yr |
| FCNCAFirst Citizens BancShare | $144M | 3.1% | — | 10.5 yr |
| NVDANVIDIA Corporation | $123M | 2.7% | +60.9% | 10.3 yr |
| DFISDimensional - Internatio | $108M | 2.3% | — | 1.3 yr |
| IVViShares Core S&P 500 ETF | $105M | 2.3% | — | 10.5 yr |
| MSFTMicrosoft Corporation | $95M | 2.1% | -0.6% | 10.5 yr |
| TLHiShares 10-20 Year Treas | $95M | 2.1% | — | 3.3 yr |
| AMZNAmazon.com, Inc. | $63M | 1.4% | +9.5% | 10.5 yr |
| GOOGAlphabet Inc. | $53M | 1.2% | +84.3% | 10.5 yr |
| AVGOBroadcom Inc. | $46M | 1.0% | +86.0% | 5.3 yr |
Portfolio composition (YoY)
Industry mix
Asset Management49.1%-4.1pp$2.27B
Semiconductors5.7%+2.6pp$266M
Banks - Regional3.9%-0.5pp$180M
Consumer Electronics3.6%-0.0pp$164M
Asset Management - Bonds2.9%+0.1pp$134M
Internet Content & Information2.8%+0.7pp$132M
Software - Infrastructure2.7%-0.2pp$123M
Regulated Electric2.0%+1.1pp$90M
Drug Manufacturers - General1.9%+0.5pp$88M
Banks - Diversified1.6%+0.4pp$72M
Country
US98.2%-0.0pp
IE0.7%-0.4pp
Unknown0.4%+0.2pp
GB0.2%+0.0pp
CA0.1%+0.0pp
TW0.1%+0.0pp
CH0.1%+0.0pp
BM0.1%+0.0pp
Top 5: 32.5% · Top 10: 46.4% · Top 25: 62.0%
Top buys this quarter · 15
| FE FirstEnergy Corp. | +$19M |
| KHC The Kraft Heinz Company | +$16M |
| DUK Duke Energy Corporation | +$11M |
| CAG Conagra Brands, Inc.new | +$8M |
| EVRG Evergy, Inc. | +$7M |
| KMI Kinder Morgan, Inc. | +$6M |
| MO Altria Group, Inc. | +$5M |
| APP AppLovin Corporationnew | +$5M |
| MS Morgan Stanley | +$5M |
| CSGP CoStar Group, Inc. | +$14M |
Top sells this quarter · 15
| EMN Eastman Chemical Company | −$16M |
| MA Mastercard Incorporated | −$13M |
| COST Costco Wholesale Corporation | −$11M |
| HD The Home Depot, Inc. | −$9M |
| AEP American Electric Power Compan | −$6M |
| ANET Arista Networks, Inc. | −$5M |
| UNH UnitedHealth Group Incorporate | −$5M |
| RCL Royal Caribbean Cruises Ltd.exit | −$5M |
| CMG Chipotle Mexican Grill, Inc. | −$4M |
| SOLS Solstice Advanced Materials Inexit | −$4M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $4.62B | 631 | +14.99% | +17.59% | -2.60% | +0.02B |
| 2025-12-31 | $4.79B | 635 | +15.10% | +17.72% | -2.62% | +0.06B |
| 2025-09-30 | $4.64B | 625 | +14.81% | +17.52% | -2.71% | -1.13B |
| 2025-06-30 | $5.34B | 607 | +13.97% | +14.94% | -0.97% | +1.15B |
| 2025-03-31 | $3.85B | 505 | +7.23% | +8.30% | -1.07% | -1.21B |
| 2024-12-31 | $5.26B | 468 | +21.05% | +24.89% | -3.84% | +0.79B |
| 2024-09-30 | $4.40B | 457 | +33.21% | +36.04% | -2.83% | -1.14B |
| 2024-06-30 | $5.17B | 440 | +19.89% | +24.49% | -4.61% | -0.11B |
| 2024-03-31 | $5.16B | 428 | +25.66% | +29.62% | -3.97% | -0.82B |
| 2023-12-31 | $5.51B | 358 | +21.88% | +26.18% | -4.30% | -0.24B |
| 2023-09-30 | $5.13B | 348 | +17.99% | +21.57% | -3.57% | -0.11B |
| 2023-06-30 | $5.44B | 349 | +17.81% | +19.42% | -1.61% | +0.07B |
| 2023-03-31 | $5.01B | 325 | -5.04% | -7.82% | +2.78% | +1.53B |
| 2022-12-31 | $3.30B | 316 | -14.02% | -18.17% | +4.15% | +0.00B |
| 2022-09-30 | $3.04B | 305 | -11.83% | -15.51% | +3.68% | +0.32B |
| 2022-06-30 | $2.83B | 393 | -7.95% | -10.62% | +2.67% | +0.60B |