Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-2.26%
trims when stocks drop
when a holding falls −10%+
Middle response
+3.73%
steady accumulation
Rally response
-9.28%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| VOOVanguard S&P 500 ETF | $715M | 13.6% | — | 10.5 yr |
| VEAVanguard FTSE Developed | $474M | 9.0% | — | 10.5 yr |
| FBNDFidelity Total Bond ETF | $308M | 5.8% | — | 6.3 yr |
| NVDANVIDIA Corporation | $236M | 4.5% | +60.9% | 8.8 yr |
| MSFTMicrosoft Corporation | $184M | 3.5% | -0.6% | 10.5 yr |
| VBVanguard Small-Cap ETF | $171M | 3.2% | — | 8.3 yr |
| AAPLApple Inc. | $168M | 3.2% | +14.7% | 10.5 yr |
| AMZNAmazon.com, Inc. | $149M | 2.8% | +9.5% | 9.5 yr |
| VCLTVanguard Long-Term Corpo | $140M | 2.7% | — | 0.8 yr |
| GOOGAlphabet Inc. | $113M | 2.1% | +84.3% | 10.3 yr |
| METAMeta Platforms, Inc. | $105M | 2.0% | -0.4% | 9.3 yr |
| VOVanguard Mid-Cap ETF | $102M | 1.9% | — | 7.8 yr |
| VWOVanguard FTSE Emerging M | $96M | 1.8% | — | 10.5 yr |
| IVViShares Core S&P 500 ETF | $88M | 1.7% | — | 10.5 yr |
| VVisa Inc. | $85M | 1.6% | -13.1% | 9.3 yr |
Portfolio composition (YoY)
Industry mix
Asset Management37.2%+10.0pp$1.96B
Asset Management - Bonds9.5%-1.5pp$500M
Semiconductors7.8%+2.0pp$411M
Internet Content & Information5.4%+0.2pp$285M
Software - Infrastructure4.0%-1.3pp$209M
Consumer Electronics3.2%-1.1pp$168M
Specialty Retail2.8%-0.1pp$149M
Financial - Credit Services2.4%-0.6pp$127M
Drug Manufacturers - General2.2%-0.3pp$116M
Hardware, Equipment & Parts1.5%-0.0pp$80M
Country
US97.0%+0.1pp
NL1.4%-0.1pp
GB0.9%+0.2pp
CH0.7%-0.3pp
IE0.0%-0.0pp
CA0.0%+0.0pp
Unknown0.0%+0.0pp
ZA0.0%
Top 5: 36.4% · Top 10: 50.5% · Top 25: 72.3%
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $5.26B | 567 | +18.43% | +17.59% | +0.83% | +0.03B |
| 2025-12-31 | $5.47B | 604 | +17.52% | +17.72% | -0.19% | +0.77B |
| 2025-09-30 | $4.54B | 631 | +15.59% | +17.52% | -1.93% | -0.29B |
| 2025-06-30 | $4.46B | 550 | +10.57% | +14.94% | -4.37% | +0.07B |
| 2025-03-31 | $3.97B | 448 | +2.38% | +8.30% | -5.92% | +0.18B |
| 2024-12-31 | $4.00B | 368 | +18.53% | +24.89% | -6.36% | -0.17B |
| 2024-09-30 | $4.09B | 376 | +29.69% | +36.04% | -6.35% | -0.02B |
| 2024-06-30 | $3.96B | 378 | +20.64% | +24.49% | -3.85% | +0.02B |
| 2024-03-31 | $3.86B | 309 | +29.75% | +29.62% | +0.13% | -0.08B |
| 2023-12-31 | $3.59B | 335 | +28.52% | +26.18% | +2.34% | -0.21B |
| 2023-09-30 | $3.41B | 313 | +25.08% | +21.57% | +3.51% | -0.15B |
| 2023-06-30 | $3.70B | 304 | +23.25% | +19.42% | +3.82% | -0.17B |
| 2023-03-31 | $3.52B | 297 | -2.55% | -7.82% | +5.27% | -0.15B |
| 2022-12-31 | $3.38B | 311 | -14.44% | -18.17% | +3.73% | -0.08B |
| 2022-09-30 | $3.19B | 368 | -12.38% | -15.51% | +3.13% | +0.18B |
| 2022-06-30 | $3.16B | 371 | -7.37% | -10.62% | +3.25% | +0.05B |