Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-1.55%
trims when stocks drop
when a holding falls −10%+
Middle response
-1.30%
baseline attrition
Rally response
+0.60%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| VOOVanguard S&P 500 ETF | $380M | 14.2% | — | 10.5 yr |
| AAPLApple Inc. | $265M | 9.8% | +14.7% | 10.5 yr |
| SPYState Street SPDR S&P 50 | $173M | 6.4% | +17.6% | 3.5 yr |
| QQQInvesco QQQ Trust, Serie | $106M | 3.9% | — | 3.5 yr |
| QQQMInvesco NASDAQ 100 ETF | $105M | 3.9% | — | 3.5 yr |
| GOOGLAlphabet Inc. | $91M | 3.4% | — | 3.5 yr |
| COSTCostco Wholesale Corpora | $70M | 2.6% | +5.9% | 3.5 yr |
| BRK-ABerkshire Hathaway Inc. | $68M | 2.5% | — | 2.3 yr |
| MSFTMicrosoft Corporation | $54M | 2.0% | -0.6% | 10.5 yr |
| — | $54M | 2.0% | — | 0.5 yr |
| XLKState Street Technology | $48M | 1.8% | — | 3.5 yr |
| PPLTabrdn Physical Platinum | $41M | 1.5% | — | 4.5 yr |
| GDECFT Vest U.S. Equity Mode | $41M | 1.5% | — | 1.0 yr |
| VGTVanguard Information Tec | $41M | 1.5% | — | 3.5 yr |
| ZALTInnovator U.S. Equity 10 | $40M | 1.5% | — | 1.0 yr |
Portfolio composition (YoY)
Industry mix
Asset Management51.3%+4.0pp$1.38B
Consumer Electronics9.9%-0.3pp$265M
Internet Content & Information4.1%+1.4pp$110M
Insurance - Diversified3.1%-1.0pp$83M
Discount Stores2.8%-0.1pp$75M
Unknown2.6%+2.2pp$70M
Financial - Credit Services2.6%-0.9pp$69M
Software - Infrastructure2.4%-0.7pp$65M
Medical - Healthcare Plans2.1%-2.1pp$56M
Semiconductors2.0%+0.8pp$55M
Country
US93.7%-3.6pp
CA3.5%+1.4pp
Unknown2.6%+2.2pp
GB0.1%+0.0pp
TW0.0%+0.0pp
DE0.0%+0.0pp
FR0.0%-0.0pp
ZA0.0%+0.0pp
Top 5: 38.3% · Top 10: 50.9% · Top 25: 71.4%
Top buys this quarter · 15
| WMT Walmart Inc. | +$2M |
| GLW Corning Incorporated | +$2M |
| COST Costco Wholesale Corporation | +$2M |
| JNJ Johnson & Johnson | +$2M |
| XOM Exxon Mobil Corporation | +$2M |
| EQX Equinox Gold Corp. | +$2M |
| NEM Newmont Corporation | +$2M |
| MU Micron Technology, Inc. | +$2M |
| GEV GE Vernova Inc. | +$1M |
| GRO Brazil Potash Corp. | +$1M |
Top sells this quarter · 15
| PM Philip Morris International In | −$2M |
| NVDA NVIDIA Corporation | −$2M |
| BANC Banc of California, Inc.exit | −$2M |
| PLTR Palantir Technologies Inc. | −$2M |
| AVGO Broadcom Inc. | −$2M |
| TTMI TTM Technologies, Inc. | −$2M |
| AAPL Apple Inc. | −$2M |
| APH Amphenol Corporation | −$1M |
| KLAC KLA Corporation | −$1M |
| LRCX Lam Research Corporation | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $2.69B | 1167 | +10.30% | +17.59% | -7.29% | -0.07B |
| 2025-12-31 | $2.89B | 1138 | +9.85% | +17.72% | -7.86% | +0.05B |
| 2025-09-30 | $2.77B | 1102 | +10.77% | +17.52% | -6.74% | +0.21B |
| 2025-06-30 | $2.34B | 1093 | +8.85% | +14.94% | -6.09% | -0.01B |
| 2025-03-31 | $2.28B | 1087 | +10.58% | +8.30% | +2.28% | -0.08B |
| 2024-12-31 | $2.48B | 1105 | +23.74% | +24.89% | -1.15% | -0.03B |
| 2024-09-30 | $2.42B | 1070 | +33.34% | +36.04% | -2.69% | -0.02B |
| 2024-06-30 | $2.27B | 1049 | +18.19% | +24.49% | -6.30% | -0.01B |
| 2024-03-31 | $2.18B | 1048 | +20.09% | +29.62% | -9.53% | +1.06B |
| 2023-12-31 | $1.06B | 1024 | +24.82% | +26.18% | -1.36% | +0.07B |
| 2023-09-30 | $883M | 1053 | +18.37% | +21.57% | -3.20% | -0.03B |
| 2023-06-30 | $963M | 1103 | +15.48% | +19.42% | -3.94% | -0.03B |
| 2023-03-31 | $937M | 1116 | -8.81% | -7.82% | -0.99% | +0.04B |
| 2022-12-31 | $809M | 1116 | +5.85% | +7.56% | -1.71% | -0.03B |
| 2022-09-30 | $792M | 317 | -7.12% | -4.93% | -2.19% | -0.00B |
| 2022-06-30 | $853M | 345 | -15.99% | -16.11% | +0.12% | -0.09B |