Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-1.40%
trims when stocks drop
when a holding falls −10%+
Middle response
+0.02%
steady accumulation
Rally response
+2.69%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| AAPLApple Inc. | $82M | 4.6% | +14.7% | 10.5 yr |
| QQQInvesco QQQ Trust, Serie | $57M | 3.2% | — | 8.0 yr |
| MSFTMicrosoft Corporation | $39M | 2.2% | -0.6% | 10.5 yr |
| VOOGVanguard S&P 500 Growth | $37M | 2.1% | — | 10.5 yr |
| GLDSPDR Gold Shares | $34M | 1.9% | — | 8.8 yr |
| NVDANVIDIA Corporation | $32M | 1.8% | +60.9% | 9.8 yr |
| GOOGLAlphabet Inc. | $32M | 1.8% | — | 10.5 yr |
| SPYState Street SPDR S&P 50 | $31M | 1.7% | +17.6% | 10.0 yr |
| IVViShares Core S&P 500 ETF | $26M | 1.5% | — | 10.5 yr |
| VYMVanguard High Dividend Y | $25M | 1.4% | — | 10.5 yr |
| PYLDPIMCO Multisector Bond A | $25M | 1.4% | — | 2.8 yr |
| XOMExxon Mobil Corporation | $23M | 1.3% | +47.6% | 10.5 yr |
| AMZNAmazon.com, Inc. | $23M | 1.3% | +9.5% | 10.5 yr |
| TPLTexas Pacific Land Corpo | $23M | 1.3% | +8.1% | 5.0 yr |
| LLYEli Lilly and Company | $21M | 1.2% | +12.2% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management46.2%+2.7pp$817M
Consumer Electronics4.6%-0.6pp$82M
Drug Manufacturers - General3.7%-0.3pp$65M
Semiconductors3.5%+0.9pp$61M
Internet Content & Information3.2%+0.7pp$56M
Asset Management - Bonds2.6%+1.0pp$46M
Software - Infrastructure2.6%-0.6pp$46M
Aerospace & Defense2.0%+0.2pp$35M
Oil & Gas Integrated1.9%+0.2pp$34M
Asset Management - Income1.7%+0.3pp$31M
Country
US96.0%-0.6pp
CA1.6%+0.2pp
Unknown0.5%+0.2pp
IE0.5%+0.0pp
GB0.4%+0.0pp
NL0.3%+0.1pp
CH0.2%+0.0pp
TW0.2%+0.1pp
Top 5: 14.1% · Top 10: 22.4% · Top 25: 38.3%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| NVDA | $21M | +0.01B | 60.9% |
| AAPL | $72M | +0.01B | 14.7% |
| XOM | $15M | +0.01B | 47.6% |
| GOOG | $8M | +0.01B | 84.3% |
| JNJ | $10M | +0.00B | 51.5% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| MSFT | $39M | -0.00B | -0.6% |
Top buys this quarter · 15
| TPL Texas Pacific Land Corporation | +$1M |
| AZN AstraZeneca PLCnew | +$1M |
| CLX The Clorox Company | +$1M |
| AMZN Amazon.com, Inc. | +$23M |
| BBY Best Buy Co., Inc. | +$0M |
| MSFT Microsoft Corporation | +$39M |
| AAPL Apple Inc. | +$82M |
| HE Hawaiian Electric Industries, new | +$0M |
| WELL Welltower Inc. | +$0M |
| DB Deutsche Bank AG | +$0M |
Top sells this quarter · 15
| ADM Archer-Daniels-Midland Company | −$1M |
| DVN Devon Energy Corporation | −$1M |
| HIG The Hartford Financial Service | −$1M |
| WMB The Williams Companies, Inc. | −$1M |
| LYB LyondellBasell Industries N.V. | −$0M |
| SPY State Street SPDR S&P 500 ETF | −$0M |
| APP AppLovin Corporationexit | −$0M |
| BK The Bank of New York Mellon Co | −$0M |
| PPL PPL Corporationexit | −$0M |
| MU Micron Technology, Inc. | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.77B | 791 | +17.05% | +17.59% | -0.55% | +0.02B |
| 2025-12-31 | $1.74B | 781 | +13.61% | +17.72% | -4.11% | +0.04B |
| 2025-09-30 | $1.66B | 745 | +12.61% | +17.52% | -4.91% | +0.01B |
| 2025-06-30 | $1.51B | 685 | +10.60% | +14.94% | -4.34% | +0.07B |
| 2025-03-31 | $1.38B | 628 | +9.12% | +8.30% | +0.81% | +0.01B |
| 2024-12-31 | $1.41B | 628 | +20.64% | +24.89% | -4.25% | +0.03B |
| 2024-09-30 | $1.35B | 618 | +30.65% | +36.04% | -5.38% | -0.05B |
| 2024-06-30 | $1.31B | 614 | +17.88% | +24.49% | -6.61% | +0.19B |
| 2024-03-31 | $1.08B | 539 | +21.08% | +29.62% | -8.54% | +0.05B |
| 2023-12-31 | $967M | 509 | +15.82% | +26.18% | -10.36% | +0.01B |
| 2023-09-30 | $864M | 471 | +13.98% | +21.57% | -7.59% | +0.01B |
| 2023-06-30 | $879M | 473 | +13.38% | +19.42% | -6.05% | -0.13B |
| 2023-03-31 | $950M | 484 | -6.08% | -7.82% | +1.74% | +0.01B |
| 2022-12-31 | $921M | 472 | -12.61% | -18.17% | +5.56% | +0.01B |
| 2022-09-30 | $839M | 455 | -10.57% | -15.51% | +4.94% | -0.02B |
| 2022-06-30 | $898M | 478 | -6.34% | -10.62% | +4.28% | -0.03B |