Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-6.49%
trims when stocks drop
when a holding falls −10%+
Middle response
-0.49%
baseline attrition
Rally response
+5.81%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| IVViShares Core S&P 500 ETF | $5.15B | 6.3% | — | 10.5 yr |
| NVDANVIDIA Corporation | $3.76B | 4.6% | +60.9% | 10.5 yr |
| AAPLApple Inc. | $3.37B | 4.2% | +14.7% | 10.5 yr |
| DFUSDimensional - US Equity | $3.13B | 3.8% | — | 3.0 yr |
| MSFTMicrosoft Corporation | $2.57B | 3.2% | -0.6% | 10.5 yr |
| PAAAPGIM AAA CLO ETF | $2.27B | 2.8% | — | 2.8 yr |
| AMZNAmazon.com, Inc. | $1.71B | 2.1% | +9.5% | 10.5 yr |
| GOOGLAlphabet Inc. | $1.56B | 1.9% | — | 10.5 yr |
| AVGOBroadcom Inc. | $1.33B | 1.6% | +86.0% | 8.0 yr |
| GOOGAlphabet Inc. | $1.26B | 1.6% | +84.3% | 10.5 yr |
| LQDiShares iBoxx $ Investme | $1.16B | 1.4% | — | 10.3 yr |
| METAMeta Platforms, Inc. | $1.15B | 1.4% | -0.4% | 10.5 yr |
| PULSPGIM Ultra Short Bond ET | $1.11B | 1.4% | — | 6.5 yr |
| VOOVanguard S&P 500 ETF | $866M | 1.1% | — | 8.3 yr |
| TSLATesla, Inc. | $809M | 1.0% | +43.4% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management23.0%+1.4pp$18.65B
Semiconductors9.1%+2.5pp$7.42B
Internet Content & Information5.0%+0.7pp$4.03B
Consumer Electronics4.2%-0.6pp$3.39B
Software - Infrastructure4.1%-0.9pp$3.37B
Drug Manufacturers - General3.2%-0.2pp$2.63B
Asset Management - Bonds3.0%+2.0pp$2.42B
Specialty Retail2.4%-0.6pp$1.96B
Banks - Diversified2.0%-0.1pp$1.62B
Aerospace & Defense1.8%+0.3pp$1.47B
Country
US98.1%-0.9pp
Unknown1.2%+1.0pp
IE0.3%-0.0pp
GB0.1%-0.0pp
SG0.1%-0.0pp
CH0.0%+0.0pp
CN0.0%-0.0pp
BM0.0%+0.0pp
Top 5: 22.1% · Top 10: 32.2% · Top 25: 46.6%
Top buys this quarter · 15
| EXR Extra Space Storage Inc. | +$140M |
| DHR Danaher Corporation | +$95M |
| CMI Cummins Inc. | +$94M |
| EQR Equity Residential | +$90M |
| AMAT Applied Materials, Inc. | +$87M |
| JNJ Johnson & Johnson | +$86M |
| PM Philip Morris International In | +$84M |
| PCG PG&E Corporation | +$81M |
| JAN Janus Living, Inc.new | +$78M |
| TER Teradyne, Inc. | +$74M |
Top sells this quarter · 15
| GE GE Aerospace | −$135M |
| NVDA NVIDIA Corporation | −$131M |
| XOM Exxon Mobil Corporation | −$595M |
| LOW Lowe's Companies, Inc. | −$118M |
| MNST Monster Beverage Corporation | −$114M |
| INTC Intel Corporation | −$114M |
| WDC Western Digital Corporation | −$109M |
| GILD Gilead Sciences, Inc. | −$105M |
| VRE Veris Residential, Inc. | −$104M |
| NSA National Storage Affiliates Tr | −$99M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $81.20B | 2394 | +18.25% | +17.59% | +0.66% | +0.85B |
| 2025-12-31 | $82.81B | 2202 | +15.93% | +17.72% | -1.79% | -3.38B |
| 2025-09-30 | $84.13B | 2404 | +14.39% | +17.52% | -3.13% | +0.67B |
| 2025-06-30 | $77.37B | 2416 | +13.11% | +14.94% | -1.83% | -0.02B |
| 2025-03-31 | $70.18B | 2278 | +4.46% | +8.30% | -3.84% | +0.80B |
| 2024-12-31 | $72.93B | 2275 | +18.68% | +24.89% | -6.20% | +1.24B |
| 2024-09-30 | $70.93B | 2695 | +31.28% | +36.04% | -4.76% | -0.07B |
| 2024-06-30 | $66.57B | 2673 | +19.04% | +24.49% | -5.45% | -5.72B |
| 2024-03-31 | $70.98B | 2656 | +25.19% | +29.62% | -4.43% | -0.51B |
| 2023-12-31 | $66.14B | 2634 | +22.83% | +26.18% | -3.35% | -5.11B |
| 2023-09-30 | $63.73B | 2582 | +17.40% | +21.57% | -4.16% | -2.71B |
| 2023-06-30 | $68.68B | 2601 | +15.79% | +19.42% | -3.64% | +0.37B |
| 2023-03-31 | $63.78B | 2588 | -7.13% | -7.82% | +0.69% | +0.96B |
| 2022-12-31 | $59.24B | 2580 | -16.46% | -18.17% | +1.71% | -3.60B |
| 2022-09-30 | $58.80B | 2636 | -13.18% | -15.51% | +2.33% | -0.92B |
| 2022-06-30 | $62.61B | 2645 | -8.47% | -10.62% | +2.15% | -1.82B |