Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-9.69%
trims when stocks drop
when a holding falls −10%+
Middle response
-7.15%
baseline attrition
Rally response
-17.75%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| IVViShares Core S&P 500 ETF | $13M | 2.5% | — | 1.5 yr |
| AAPLApple Inc. | $12M | 2.4% | +14.7% | 1.5 yr |
| QQQInvesco QQQ Trust, Serie | $11M | 2.0% | — | 1.5 yr |
| BUFBInnovator Laddered Alloc | $8M | 1.6% | — | 1.5 yr |
| SPYState Street SPDR S&P 50 | $8M | 1.5% | +17.6% | 1.5 yr |
| ICSHiShares Ultra Short Dura | $7M | 1.4% | — | 1.5 yr |
| BUFFInnovator Laddered Alloc | $6M | 1.2% | — | 1.5 yr |
| RSPInvesco S&P 500 Equal We | $6M | 1.2% | — | 1.5 yr |
| MSFTMicrosoft Corporation | $6M | 1.2% | -0.6% | 1.5 yr |
| NVDANVIDIA Corporation | $6M | 1.2% | +60.9% | 1.5 yr |
| JNJJohnson & Johnson | $6M | 1.2% | +51.5% | 1.5 yr |
| VGTVanguard Information Tec | $6M | 1.1% | — | 1.5 yr |
| CAHCardinal Health, Inc. | $6M | 1.1% | +54.9% | 1.5 yr |
| SUBiShares Short-Term Natio | $5M | 1.0% | — | 1.0 yr |
| ITOTiShares Core S&P Total U | $5M | 1.0% | — | 1.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management50.9%+6.6pp$264M
Asset Management - Bonds5.9%+1.8pp$31M
Drug Manufacturers - General3.1%+0.0pp$16M
Regulated Electric3.1%+0.7pp$16M
Semiconductors2.5%-1.3pp$13M
Consumer Electronics2.4%+0.3pp$12M
Specialty Retail1.9%-0.8pp$10M
Medical - Distribution1.7%+1.3pp$9M
Internet Content & Information1.6%-1.4pp$8M
Aerospace & Defense1.5%+0.2pp$8M
Country
US95.5%-1.5pp
CA1.8%+1.5pp
Unknown0.7%-0.1pp
GB0.7%+0.3pp
CH0.6%+0.6pp
IE0.1%-0.1pp
TW0.1%+0.1pp
CN0.1%-0.7pp
Top 5: 10.1% · Top 10: 16.3% · Top 25: 30.1%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| NVDA | $39M | +0.02B | 60.9% |
| SPY | $50M | +0.01B | 17.6% |
| JNJ | $14M | +0.01B | 51.5% |
| AAPL | $37M | +0.01B | 14.7% |
| CAH | $5M | +0.00B | 54.9% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| MSFT | $26M | -0.00B | -0.6% |
Top buys this quarter · 15
| WMT Walmart Inc. | +$1M |
| ATEX Anterix Inc.new | +$1M |
| META Meta Platforms, Inc. | +$1M |
| AVGO Broadcom Inc. | +$1M |
| MSFT Microsoft Corporation | +$6M |
| FET Forum Energy Technologies, Incnew | +$0M |
| V Visa Inc. | +$0M |
| GWW W.W. Grainger, Inc.new | +$0M |
| APH Amphenol Corporationnew | +$0M |
| CRS Carpenter Technology Corporatinew | +$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $519M | 459 | +22.61% | +17.59% | +5.02% | +0.00B |
| 2025-12-31 | $491M | 437 | +14.23% | +17.72% | -3.49% | +0.04B |
| 2025-09-30 | $430M | 390 | +5.89% | +8.12% | -2.23% | -0.14B |
| 2025-06-30 | $537M | 392 | +6.16% | +10.78% | -4.62% | -1.34B |
| 2025-03-31 | $1.77B | 682 | -2.34% | -4.27% | +1.93% | +1.40B |
| 2024-12-31 | $374M | 356 | — | — | — | — |