Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-44.02%
trims when stocks drop
when a holding falls −10%+
Middle response
-15.64%
baseline attrition
Rally response
-2.69%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| AAPLApple Inc. | $84M | 6.1% | +14.7% | 10.0 yr |
| XLEState Street Energy Sele | $62M | 4.5% | — | 6.8 yr |
| — | $55M | 4.0% | — | 8.5 yr |
| GOOGAlphabet Inc. | $54M | 3.9% | +84.3% | 9.8 yr |
| JPMJPMorgan Chase & Co. | $53M | 3.8% | +21.8% | 9.8 yr |
| — | $51M | 3.7% | — | 5.3 yr |
| IVViShares Core S&P 500 ETF | $46M | 3.3% | — | 9.5 yr |
| AMZNAmazon.com, Inc. | $45M | 3.2% | +9.5% | 8.8 yr |
| METAMeta Platforms, Inc. | $40M | 2.9% | -0.4% | 9.5 yr |
| AVGOBroadcom Inc. | $39M | 2.8% | +86.0% | 6.8 yr |
| MSFTMicrosoft Corporation | $39M | 2.8% | -0.6% | 9.5 yr |
| MSMorgan Stanley | $37M | 2.7% | +44.8% | 3.0 yr |
| CHDNChurchill Downs Incorpor | $36M | 2.6% | -18.8% | 2.0 yr |
| CCitigroup Inc. | $33M | 2.4% | +63.9% | 1.5 yr |
| JTEKJPMorgan U.S. Tech Leade | $29M | 2.1% | — | 0.8 yr |
Portfolio composition (YoY)
Industry mix
Asset Management20.9%+0.3pp$289M
Unknown13.1%+4.9pp$181M
Internet Content & Information7.3%-1.6pp$101M
Banks - Diversified6.8%-0.6pp$94M
Drug Manufacturers - General6.2%+2.7pp$86M
Consumer Electronics6.1%+0.8pp$84M
Semiconductors5.3%+2.2pp$74M
Specialty Retail3.9%-0.8pp$54M
Financial - Capital Markets3.0%+1.6pp$42M
Software - Infrastructure2.9%-2.6pp$41M
Country
US84.4%-5.9pp
Unknown13.1%+4.9pp
TW1.2%+1.2pp
IE0.8%+0.3pp
RU0.4%+0.2pp
CA0.0%+0.0pp
SG0.0%+0.0pp
GB0.0%-0.2pp
Top 5: 22.3% · Top 10: 38.3% · Top 25: 66.0%
Top buys this quarter · 15
| AAPL Apple Inc. | +$84M |
| CHDN Churchill Downs Incorporated | +$36M |
| MRK Merck & Co., Inc. | +$26M |
| AVGO Broadcom Inc. | +$39M |
| PFE Pfizer Inc. | +$19M |
| CAT Caterpillar Inc. | +$17M |
| TSM Taiwan Semiconductor Manufactu | +$17M |
| NOW ServiceNow, Inc. | +$13M |
| VRT Vertiv Holdings Co | +$13M |
| GEV GE Vernova Inc. | +$11M |
Top sells this quarter · 15
| ABBV AbbVie Inc. | −$80M |
| GOOG Alphabet Inc. | −$60M |
| CEG Constellation Energy Corporati | −$48M |
| ABT Abbott Laboratories | −$33M |
| CAH Cardinal Health, Inc. | −$10M |
| META Meta Platforms, Inc. | −$19M |
| APP AppLovin Corporation | −$18M |
| MSFT Microsoft Corporation | −$18M |
| ORCL Oracle Corporation | −$9M |
| JLL Jones Lang LaSalle Incorporate | −$9M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.38B | 276 | +26.65% | +17.59% | +9.06% | +0.98B |
| 2025-12-31 | $436M | 127 | +28.53% | +17.72% | +10.81% | -1.15B |
| 2025-09-30 | $1.56B | 288 | +34.75% | +17.52% | +17.23% | +0.19B |
| 2025-06-30 | $1.16B | 220 | +16.44% | +14.94% | +1.50% | -0.24B |
| 2025-03-31 | $1.22B | 253 | +5.26% | +8.30% | -3.05% | +0.00B |
| 2024-12-31 | $1.31B | 273 | +24.63% | +24.89% | -0.26% | -0.05B |
| 2024-09-30 | $1.27B | 245 | +31.14% | +36.04% | -4.89% | +0.00B |
| 2024-06-30 | $1.24B | 245 | +24.78% | +24.49% | +0.29% | +0.01B |
| 2024-03-31 | $1.18B | 255 | +32.41% | +29.62% | +2.78% | +0.04B |
| 2023-12-31 | $1.05B | 239 | +21.77% | +26.18% | -4.41% | +0.01B |
| 2023-09-30 | $921M | 244 | +17.87% | +21.57% | -3.70% | -0.00B |
| 2023-06-30 | $949M | 263 | +15.31% | +19.42% | -4.12% | +0.01B |
| 2023-03-31 | $851M | 242 | -9.11% | -7.82% | -1.30% | +0.02B |
| 2022-12-31 | $829M | 234 | -13.91% | -18.17% | +4.26% | -0.00B |
| 2022-09-30 | $763M | 217 | -12.24% | -15.51% | +3.27% | -0.02B |
| 2022-06-30 | $825M | 209 | -7.31% | -10.62% | +3.31% | -0.05B |