Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-6.87%
trims when stocks drop
when a holding falls −10%+
Middle response
+1.20%
steady accumulation
Rally response
+2.74%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| SPYGState Street SPDR Portfo | $109M | 6.2% | — | 8.0 yr |
| SPYVState Street SPDR Portfo | $84M | 4.8% | — | 7.8 yr |
| VIGVanguard Dividend Apprec | $50M | 2.9% | — | 7.5 yr |
| DFAEDimensional - Emerging C | $50M | 2.8% | — | 4.0 yr |
| VEAVanguard FTSE Developed | $45M | 2.5% | — | 5.8 yr |
| VOVanguard Mid-Cap ETF | $43M | 2.4% | — | 8.3 yr |
| IJRiShares Core S&P Small-C | $39M | 2.2% | — | 7.5 yr |
| XLKState Street Technology | $33M | 1.8% | — | 5.5 yr |
| NVDANVIDIA Corporation | $32M | 1.8% | +60.9% | 6.3 yr |
| FBNDFidelity Total Bond ETF | $30M | 1.7% | — | 4.3 yr |
| AGGiShares Core U.S. Aggreg | $29M | 1.6% | — | 10.3 yr |
| IDEViShares Core MSCI Intern | $27M | 1.6% | — | 4.8 yr |
| JCPBJPMorgan Core Plus Bond | $24M | 1.3% | — | 2.3 yr |
| AAPLApple Inc. | $23M | 1.3% | +14.7% | 8.3 yr |
| BILState Street SPDR Bloomb | $23M | 1.3% | — | 6.3 yr |
Portfolio composition (YoY)
Industry mix
Asset Management71.0%+4.5pp$1.26B
Asset Management - Bonds7.0%-0.5pp$124M
Semiconductors3.2%+0.4pp$56M
Consumer Electronics1.3%-0.4pp$23M
Drug Manufacturers - General1.1%+0.1pp$20M
Software - Infrastructure1.0%-0.6pp$18M
Internet Content & Information0.9%+0.1pp$16M
Asset Management - Income0.8%+0.3pp$15M
Unknown0.7%-0.2pp$13M
Specialty Retail0.7%-0.2pp$12M
Country
US97.5%+0.6pp
GB0.8%-0.2pp
Unknown0.7%-0.2pp
IE0.3%-0.1pp
TW0.2%+0.1pp
NL0.1%+0.0pp
CA0.1%-0.2pp
BE0.1%-0.0pp
Top 5: 19.2% · Top 10: 29.1% · Top 25: 45.3%
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| MSFT | $14M | -0.00B | -0.6% |
Top buys this quarter · 15
| AZN AstraZeneca PLCnew | +$3M |
| BX Blackstone Inc. | +$2M |
| HON Honeywell International Inc. | +$1M |
| APO Apollo Global Management, Inc. | +$1M |
| OTIS Otis Worldwide Corporation | +$1M |
| ADP Automatic Data Processing, Inc | +$1M |
| ANET Arista Networks, Inc. | +$1M |
| WMB The Williams Companies, Inc. | +$0M |
| AMT American Tower Corporation | +$0M |
| WAT Waters Corporationnew | +$0M |
Top sells this quarter · 15
| KLAC KLA Corporation | −$13M |
| AAPL Apple Inc. | −$5M |
| UL Unilever PLCexit | −$3M |
| ENB Enbridge Inc.exit | −$3M |
| NVDA NVIDIA Corporation | −$2M |
| XOM Exxon Mobil Corporation | −$7M |
| AMZN Amazon.com, Inc. | −$2M |
| NOC Northrop Grumman Corporation | −$2M |
| AVB AvalonBay Communities, Inc.exit | −$2M |
| MSFT Microsoft Corporation | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.77B | 528 | +19.97% | +17.59% | +2.38% | +0.09B |
| 2025-12-31 | $1.70B | 573 | +16.89% | +17.72% | -0.83% | +0.20B |
| 2025-09-30 | $1.47B | 488 | +18.18% | +17.52% | +0.66% | +0.05B |
| 2025-06-30 | $1.31B | 490 | +16.78% | +14.94% | +1.84% | +0.01B |
| 2025-03-31 | $1.18B | 459 | +7.36% | +8.30% | -0.94% | +0.11B |
| 2024-12-31 | $1.11B | 434 | +18.62% | +24.89% | -6.27% | -0.00B |
| 2024-09-30 | $1.08B | 426 | +27.84% | +36.04% | -8.20% | -0.04B |
| 2024-06-30 | $1.06B | 423 | +14.98% | +24.49% | -9.52% | +0.09B |
| 2024-03-31 | $953M | 384 | +21.12% | +29.62% | -8.51% | -0.01B |
| 2023-12-31 | $901M | 366 | +19.05% | +26.18% | -7.13% | +0.05B |
| 2023-09-30 | $772M | 331 | +14.51% | +21.57% | -7.06% | +0.05B |
| 2023-06-30 | $750M | 318 | +13.06% | +19.42% | -6.37% | +0.02B |
| 2023-03-31 | $683M | 317 | -7.08% | -7.82% | +0.74% | +0.03B |
| 2022-12-31 | $626M | 323 | -15.43% | -18.17% | +2.74% | +0.04B |
| 2022-09-30 | $551M | 301 | -11.85% | -15.51% | +3.66% | +0.07B |
| 2022-06-30 | $511M | 261 | -6.32% | -10.62% | +4.30% | +0.01B |