Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-11.34%
trims when stocks drop
when a holding falls −10%+
Middle response
-13.30%
baseline attrition
Rally response
-9.96%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| RPVInvesco S&P 500 Pure Val | $30M | 11.1% | — | 3.3 yr |
| EWZiShares MSCI Brazil ETF | $21M | 7.8% | — | 6.5 yr |
| ADBEAdobe Inc. | $9M | 3.1% | -36.6% | 0.3 yr |
| INTCIntel Corporation | $6M | 2.0% | +94.3% | 0.3 yr |
| SHYiShares 1-3 Year Treasur | $5M | 1.9% | — | 10.5 yr |
| IEIiShares 3-7 Year Treasur | $5M | 1.9% | — | 5.8 yr |
| IEFiShares 7-10 Year Treasu | $5M | 1.9% | — | 5.8 yr |
| RKTRocket Companies, Inc. | $5M | 1.7% | +18.1% | 0.8 yr |
| YNDXYandex N.V. | $4M | 1.5% | — | 0.3 yr |
| EWAiShares MSCI Australia E | $4M | 1.4% | — | 2.8 yr |
| BBJPJPMorgan BetaBuilders Ja | $4M | 1.4% | — | 4.0 yr |
| IRENIREN Limited | $3M | 1.3% | +462.9% | 0.3 yr |
| TAT&T Inc. | $3M | 1.2% | +5.9% | 3.3 yr |
| BKLNInvesco Senior Loan ETF | $3M | 1.2% | — | 6.8 yr |
| CWBState Street SPDR Bloomb | $3M | 1.2% | — | 7.3 yr |
Portfolio composition (YoY)
Industry mix
Asset Management45.5%+2.9pp$123M
Asset Management - Bonds6.8%-1.7pp$19M
Software - Application3.3%+2.1pp$9M
Gold3.1%+2.3pp$8M
Insurance - Property & Casualty2.6%-5.3pp$7M
Semiconductors2.5%+2.2pp$7M
Telecommunications Services2.3%+1.4pp$6M
Financial - Data & Stock Exchanges2.3%+2.1pp$6M
Medical - Distribution1.9%+1.2pp$5M
Financial - Mortgages1.9%+1.1pp$5M
Country
US93.0%+0.3pp
CA2.2%+1.1pp
RU1.5%
AU1.3%
Unknown0.8%-1.8pp
GB0.4%-0.5pp
KR0.3%
BR0.2%+0.0pp
Top 5: 25.9% · Top 10: 34.3% · Top 25: 51.1%
Top buys this quarter · 15
| ADBE Adobe Inc.new | +$9M |
| INTC Intel Corporationnew | +$6M |
| RKT Rocket Companies, Inc. | +$4M |
| IREN IREN Limitednew | +$3M |
| VTR Ventas, Inc.new | +$2M |
| LHX L3Harris Technologies, Inc.new | +$2M |
| L Loews Corporation | +$2M |
| HCA HCA Healthcare, Inc. | +$2M |
| T AT&T Inc. | +$1M |
| VZ Verizon Communications Inc. | +$1M |
Top sells this quarter · 15
| LLY Eli Lilly and Company | −$7M |
| MPC Marathon Petroleum Corporation | −$5M |
| FOXA Fox Corporationexit | −$3M |
| GD General Dynamics Corporation | −$2M |
| WELL Welltower Inc.exit | −$2M |
| WMT Walmart Inc.exit | −$2M |
| JNJ Johnson & Johnson | −$2M |
| WMB The Williams Companies, Inc.exit | −$2M |
| WAB Westinghouse Air Brake Technolexit | −$2M |
| KMI Kinder Morgan, Inc.exit | −$2M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $271M | 165 | +27.24% | +17.59% | +9.64% | +0.04B |
| 2025-12-31 | $226M | 167 | +27.01% | +17.72% | +9.29% | +0.00B |
| 2025-09-30 | $222M | 159 | +28.44% | +17.52% | +10.92% | -0.01B |
| 2025-06-30 | $210M | 156 | +30.78% | +14.94% | +15.84% | -0.03B |
| 2025-03-31 | $213M | 144 | +17.62% | +8.30% | +9.31% | -0.08B |
| 2024-12-31 | $287M | 135 | +30.27% | +24.89% | +5.38% | -0.01B |
| 2024-09-30 | $294M | 144 | +36.68% | +36.04% | +0.64% | -0.02B |
| 2024-06-30 | $282M | 153 | +20.78% | +24.49% | -3.71% | -0.02B |
| 2024-03-31 | $299M | 142 | +23.65% | +29.62% | -5.97% | -0.02B |
| 2023-12-31 | $283M | 139 | +6.11% | +26.18% | -20.07% | +0.00B |
| 2023-09-30 | $263M | 127 | +11.06% | +21.57% | -10.51% | -0.01B |
| 2023-06-30 | $278M | 137 | +9.50% | +19.42% | -9.93% | -0.03B |
| 2023-03-31 | $294M | 109 | -8.99% | -7.82% | -1.18% | -0.00B |
| 2022-12-31 | $305M | 107 | +12.65% | +7.56% | +5.09% | -0.02B |
| 2022-09-30 | $290M | 93 | -2.74% | -4.93% | +2.18% | -0.00B |
| 2022-06-30 | $299M | 90 | -14.06% | -16.11% | +2.05% | +0.00B |