Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+0.41%
adds when stocks drop
when a holding falls −10%+
Middle response
-0.29%
baseline attrition
Rally response
-1.28%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| SPLGSPDR Portfolio S&P 500 E | $174M | 9.6% | — | 2.0 yr |
| XLKState Street Technology | $105M | 5.8% | — | 10.5 yr |
| ESGDiShares ESG Aware MSCI E | $100M | 5.5% | — | 6.0 yr |
| SUSAiShares ESG Optimized MS | $76M | 4.2% | — | 6.0 yr |
| ISTBiShares Core 1-5 Year US | $67M | 3.7% | — | 8.3 yr |
| MMM3M Company | $58M | 3.2% | +0.7% | 10.5 yr |
| AAPLApple Inc. | $57M | 3.1% | +14.7% | 10.5 yr |
| BRK-BBerkshire Hathaway Inc. | $47M | 2.6% | — | 10.5 yr |
| MSFTMicrosoft Corporation | $44M | 2.4% | -0.6% | 10.5 yr |
| IAUiShares Gold Trust | $37M | 2.0% | — | 5.0 yr |
| DYNFiShares U.S. Equity Fact | $34M | 1.9% | — | 2.0 yr |
| GOOGAlphabet Inc. | $29M | 1.6% | +84.3% | 10.5 yr |
| XLVState Street Health Care | $27M | 1.5% | — | 10.0 yr |
| XLFState Street Financial S | $27M | 1.5% | — | 10.5 yr |
| SPYState Street SPDR S&P 50 | $24M | 1.3% | +17.6% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management53.7%+1.9pp$970M
Asset Management - Bonds7.2%-0.7pp$130M
Semiconductors3.4%+1.6pp$61M
Conglomerates3.4%-0.7pp$61M
Consumer Electronics3.1%+0.0pp$57M
Insurance - Diversified3.1%-0.3pp$56M
Software - Infrastructure3.1%-0.5pp$56M
Internet Content & Information2.4%+0.8pp$44M
Drug Manufacturers - General1.9%-0.2pp$35M
Aerospace & Defense1.2%+0.2pp$22M
Country
US96.9%-1.3pp
TW0.7%+0.4pp
NL0.6%
IE0.5%+0.1pp
CH0.4%-0.1pp
Unknown0.3%+0.2pp
CA0.3%+0.0pp
LU0.1%+0.1pp
Top 5: 28.9% · Top 10: 42.3% · Top 25: 61.2%
Top buys this quarter · 15
| MDT Medtronic plc | +$3M |
| AAPL Apple Inc. | +$57M |
| TIGO Millicom International Cellula | +$2M |
| ASML ASML Holding N.V. | +$1M |
| ARCC Ares Capital Corporation | +$23M |
| AVGO Broadcom Inc. | +$17M |
| APO Apollo Global Management, Inc. | +$5M |
| TSM Taiwan Semiconductor Manufactu | +$1M |
| AMZN Amazon.com, Inc. | +$16M |
| DE Deere & Company | +$0M |
Top sells this quarter · 15
| CVX Chevron Corporation | −$4M |
| STLD Steel Dynamics, Inc. | −$3M |
| UPS United Parcel Service, Inc.exit | −$1M |
| CRAI CRA International, Inc.exit | −$1M |
| CAT Caterpillar Inc. | −$11M |
| LLY Eli Lilly and Company | −$1M |
| XOM Exxon Mobil Corporation | −$8M |
| MMM 3M Company | −$1M |
| WMT Walmart Inc. | −$8M |
| TXN Texas Instruments Incorporated | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.81B | 284 | +14.01% | +17.59% | -3.58% | +0.01B |
| 2025-12-31 | $1.87B | 296 | +17.17% | +17.72% | -0.54% | +0.00B |
| 2025-09-30 | $1.80B | 291 | +12.93% | +17.52% | -4.58% | +0.02B |
| 2025-06-30 | $1.66B | 289 | +14.85% | +14.94% | -0.09% | +0.03B |
| 2025-03-31 | $1.53B | 279 | +10.70% | +8.30% | +2.40% | -0.03B |
| 2024-12-31 | $1.59B | 280 | +20.31% | +24.89% | -4.57% | -0.03B |
| 2024-09-30 | $1.62B | 283 | +34.03% | +36.04% | -2.01% | -0.08B |
| 2024-06-30 | $1.56B | 272 | +18.14% | +24.49% | -6.35% | -0.03B |
| 2024-03-31 | $1.55B | 268 | +21.90% | +29.62% | -7.72% | -0.03B |
| 2023-12-31 | $1.47B | 270 | +18.20% | +26.18% | -7.98% | -0.00B |
| 2023-09-30 | $1.33B | 268 | +17.04% | +21.57% | -4.53% | +0.00B |
| 2023-06-30 | $1.38B | 257 | +13.75% | +19.42% | -5.67% | -0.03B |
| 2023-03-31 | $1.32B | 250 | -6.32% | -7.82% | +1.49% | -0.02B |
| 2022-12-31 | $1.28B | 259 | -14.20% | -18.17% | +3.97% | -0.04B |
| 2022-09-30 | $1.21B | 259 | -13.31% | -15.51% | +2.20% | -0.01B |
| 2022-06-30 | $1.30B | 266 | -6.79% | -10.62% | +3.83% | -0.00B |