Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-29.17%
trims when stocks drop
when a holding falls −10%+
Middle response
-9.75%
baseline attrition
Rally response
-15.69%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| EUFNiShares MSCI Europe Fina | $14M | 3.8% | — | 0.3 yr |
| FXIiShares China Large-Cap | $13M | 3.6% | — | 1.3 yr |
| XLBState Street Materials S | $12M | 3.4% | — | 1.0 yr |
| SCHWThe Charles Schwab Corpo | $10M | 2.9% | +21.5% | 1.3 yr |
| EWZiShares MSCI Brazil ETF | $9M | 2.6% | — | 1.3 yr |
| HDThe Home Depot, Inc. | $8M | 2.4% | -8.0% | 1.3 yr |
| BACBank of America Corporat | $8M | 2.3% | +19.4% | 1.5 yr |
| METAMeta Platforms, Inc. | $8M | 2.3% | -0.4% | 0.5 yr |
| VRTXVertex Pharmaceuticals I | $8M | 2.2% | -7.9% | 1.5 yr |
| IEFiShares 7-10 Year Treasu | $7M | 2.1% | — | 0.8 yr |
| MRKMerck & Co., Inc. | $7M | 2.0% | +38.9% | 1.3 yr |
| GILDGilead Sciences, Inc. | $7M | 2.0% | +27.7% | 1.0 yr |
| MUMicron Technology, Inc. | $6M | 1.8% | +289.6% | 0.5 yr |
| CBChubb Limited | $6M | 1.7% | +9.3% | 1.3 yr |
| UNHUnitedHealth Group Incor | $6M | 1.6% | -46.9% | 1.3 yr |
Portfolio composition (YoY)
Industry mix
Asset Management30.2%+5.5pp$107M
Semiconductors5.7%+3.1pp$20M
Drug Manufacturers - General5.6%+2.6pp$20M
Financial - Capital Markets4.7%+3.4pp$16M
Internet Content & Information3.6%+2.6pp$13M
Asset Management - Bonds3.5%+2.1pp$12M
Software - Infrastructure3.3%+1.6pp$12M
Biotechnology3.3%+2.9pp$12M
Entertainment2.8%+2.5pp$10M
Specialty Retail2.5%+1.7pp$9M
Country
US91.9%-3.3pp
CH1.7%+0.3pp
TW1.4%
IL0.9%+0.4pp
AU0.8%
CN0.6%
DE0.6%
Unknown0.6%+0.3pp
Top 5: 16.3% · Top 10: 27.6% · Top 25: 49.4%
Top buys this quarter · 15
| META Meta Platforms, Inc. | +$7M |
| NFLX Netflix, Inc. | +$5M |
| UNH UnitedHealth Group Incorporate | +$5M |
| MU Micron Technology, Inc. | +$4M |
| SCCO Southern Copper Corporationnew | +$4M |
| WSM Williams-Sonoma, Inc.new | +$4M |
| PEP PepsiCo, Inc. | +$3M |
| MRK Merck & Co., Inc. | +$2M |
| SAP SAP SEnew | +$2M |
| CSX CSX Corporation | +$2M |
Top sells this quarter · 15
| STX Seagate Technology Holdings plexit | −$6M |
| ORCL Oracle Corporation | −$5M |
| INTC Intel Corporation | −$4M |
| TSM Taiwan Semiconductor Manufactu | −$4M |
| APO Apollo Global Management, Inc.exit | −$3M |
| SATS EchoStar Corporationexit | −$3M |
| FCX Freeport-McMoRan Inc. | −$3M |
| VRT Vertiv Holdings Co | −$3M |
| APP AppLovin Corporation | −$3M |
| PH Parker-Hannifin Corporationexit | −$3M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $354M | 229 | +0.60% | +17.59% | -16.99% | +0.12B |
| 2025-12-31 | $297M | 194 | +13.81% | +17.72% | -3.91% | -0.12B |
| 2025-09-30 | $397M | 225 | +2.85% | +8.12% | -5.27% | +0.02B |
| 2025-06-30 | $364M | 229 | +18.98% | +10.78% | +8.20% | -0.04B |
| 2025-03-31 | $343M | 147 | -10.82% | -4.27% | -6.56% | +0.15B |
| 2024-12-31 | $214M | 134 | — | — | — | — |