Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+0.03%
adds when stocks drop
when a holding falls −10%+
Middle response
+0.07%
steady accumulation
Rally response
-0.62%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| VOOVanguard S&P 500 ETF | $1.80B | 14.2% | — | 10.0 yr |
| SCHXSchwab U.S. Large-Cap ET | $958M | 7.6% | — | 10.0 yr |
| VOVanguard Mid-Cap ETF | $714M | 5.7% | — | 8.5 yr |
| VEAVanguard FTSE Developed | $702M | 5.6% | — | 8.8 yr |
| VTVVanguard Value ETF | $661M | 5.2% | — | 8.8 yr |
| VVVanguard Large-Cap ETF | $409M | 3.2% | — | 8.3 yr |
| IEMGiShares Core MSCI Emergi | $388M | 3.1% | — | 10.3 yr |
| IVViShares Core S&P 500 ETF | $360M | 2.8% | — | 10.3 yr |
| SCHMSchwab U.S. Mid-Cap ETF | $349M | 2.8% | — | 8.3 yr |
| IEFAiShares Core MSCI EAFE E | $243M | 1.9% | — | 10.3 yr |
| ADMArcher-Daniels-Midland C | $202M | 1.6% | +56.8% | 4.8 yr |
| VOEVanguard Mid-Cap Value E | $201M | 1.6% | — | 10.0 yr |
| SCHGSchwab U.S. Large-Cap Gr | $187M | 1.5% | — | 8.3 yr |
| VOTVanguard Mid-Cap Growth | $185M | 1.5% | — | 8.8 yr |
| IJRiShares Core S&P Small-C | $183M | 1.4% | — | 8.8 yr |
Portfolio composition (YoY)
Industry mix
Asset Management86.0%+5.2pp$10.87B
Agricultural Farm Products1.6%-0.6pp$202M
Consumer Electronics1.4%-0.5pp$180M
Semiconductors1.3%+0.3pp$159M
Insurance - Diversified0.9%-0.8pp$111M
Software - Infrastructure0.7%-0.3pp$91M
Internet Content & Information0.7%-0.0pp$91M
Asset Management - Bonds0.6%+0.2pp$77M
Drug Manufacturers - General0.5%-0.2pp$61M
Specialty Retail0.5%-0.3pp$58M
Country
US99.5%-0.0pp
CA0.1%-0.0pp
IE0.1%+0.0pp
CH0.0%-0.0pp
Unknown0.0%-0.0pp
AU0.0%+0.0pp
GB0.0%-0.0pp
TW0.0%+0.0pp
Top 5: 38.2% · Top 10: 52.1% · Top 25: 71.2%
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Top buys this quarter · 15
| CBSH Commerce Bancshares, Inc. | +$6M |
| SPY State Street SPDR S&P 500 ETF | +$119M |
| ETN Eaton Corporation plc | +$4M |
| DT Dynatrace, Inc.new | +$2M |
| AAPL Apple Inc. | +$180M |
| AMZN Amazon.com, Inc. | +$39M |
| PM Philip Morris International In | +$1M |
| SF Stifel Financial Corp. | +$3M |
| MRK Merck & Co., Inc. | +$1M |
| AVGO Broadcom Inc. | +$16M |
Top sells this quarter · 15
| ADM Archer-Daniels-Midland Company | −$186M |
| INGR Ingredion Incorporatedexit | −$4M |
| XOM Exxon Mobil Corporation | −$20M |
| LRCX Lam Research Corporation | −$51M |
| CIEN Ciena Corporation | −$0M |
| PG The Procter & Gamble Company | −$2M |
| VVX V2X, Inc.exit | −$2M |
| NVDA NVIDIA Corporation | −$2M |
| KO The Coca-Cola Company | −$1M |
| GE GE Aerospace | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $12.64B | 792 | +21.47% | +17.59% | +3.88% | -0.68B |
| 2025-12-31 | $13.20B | 800 | +15.47% | +17.72% | -2.25% | +0.36B |
| 2025-09-30 | $12.57B | 786 | +13.27% | +17.52% | -4.25% | +3.40B |
| 2025-06-30 | $8.39B | 701 | +9.19% | +14.94% | -5.75% | +0.57B |
| 2025-03-31 | $7.25B | 664 | +2.85% | +8.30% | -5.45% | +0.41B |
| 2024-12-31 | $7.13B | 661 | +9.73% | +24.89% | -15.15% | +0.26B |
| 2024-09-30 | $6.86B | 642 | +17.39% | +36.04% | -18.64% | +0.27B |
| 2024-06-30 | $6.25B | 601 | +8.19% | +24.49% | -16.30% | +0.05B |
| 2024-03-31 | $6.11B | 594 | +9.82% | +29.62% | -19.80% | +0.93B |
| 2023-12-31 | $5.06B | 560 | +3.54% | +26.18% | -22.64% | +0.34B |
| 2023-09-30 | $4.40B | 523 | +1.71% | +21.57% | -19.86% | +0.02B |
| 2023-06-30 | $4.51B | 539 | +0.41% | +19.42% | -19.01% | +0.22B |
| 2023-03-31 | $4.16B | 536 | -16.11% | -7.82% | -8.29% | +0.64B |
| 2022-12-31 | $3.65B | 479 | -17.06% | -18.17% | +1.11% | +0.89B |
| 2022-09-30 | $2.62B | 427 | -12.48% | -15.51% | +3.03% | -0.13B |
| 2022-06-30 | $2.87B | 461 | -8.26% | -10.62% | +2.36% | +0.70B |