Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-3.01%
trims when stocks drop
when a holding falls −10%+
Middle response
-0.00%
baseline attrition
Rally response
-1.43%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| JPMJPMorgan Chase & Co. | $78M | 4.7% | +21.8% | 10.5 yr |
| AAPLApple Inc. | $60M | 3.6% | +14.7% | 10.5 yr |
| VCSHVanguard Short-Term Corp | $59M | 3.5% | — | 10.3 yr |
| IVWiShares S&P 500 Growth E | $57M | 3.4% | — | 10.5 yr |
| VTIVanguard Total Stock Mar | $46M | 2.8% | — | 10.5 yr |
| SPYState Street SPDR S&P 50 | $42M | 2.5% | +17.6% | 10.5 yr |
| IVEiShares S&P 500 Value ET | $41M | 2.5% | — | 10.5 yr |
| MSFTMicrosoft Corporation | $36M | 2.2% | -0.6% | 10.5 yr |
| ORIOld Republic Internation | $32M | 1.9% | +10.8% | 10.5 yr |
| VOOVanguard S&P 500 ETF | $27M | 1.6% | — | 10.5 yr |
| BXBlackstone Inc. | $20M | 1.2% | -14.9% | 6.8 yr |
| GOOGLAlphabet Inc. | $19M | 1.1% | — | 10.5 yr |
| VTIPVanguard Short-Term Infl | $16M | 1.0% | — | 10.5 yr |
| ABBVAbbVie Inc. | $16M | 1.0% | +7.3% | 10.5 yr |
| MUBiShares National Muni Bo | $16M | 1.0% | — | 3.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management31.7%+1.3pp$524M
Banks - Diversified5.7%-0.0pp$94M
Asset Management - Bonds4.8%+0.9pp$79M
Drug Manufacturers - General3.9%-0.2pp$64M
Consumer Electronics3.8%-0.5pp$62M
Software - Infrastructure3.2%-0.6pp$52M
Insurance - Diversified2.7%-0.3pp$45M
Internet Content & Information2.0%+0.6pp$34M
Banks - Regional1.7%+0.1pp$28M
Semiconductors1.6%-0.1pp$27M
Country
US97.1%-0.8pp
CA1.2%+0.5pp
Unknown0.9%+0.4pp
IE0.3%-0.1pp
GB0.1%-0.1pp
GR0.1%
PL0.1%
IL0.1%+0.0pp
Top 5: 18.1% · Top 10: 28.8% · Top 25: 42.0%
Top buys this quarter · 15
| FITB Fifth Third Bancorp | +$3M |
| OKE ONEOK, Inc. | +$2M |
| ASM Avino Silver & Gold Mines Ltd.new | +$2M |
| EZPW EZCORP, Inc.new | +$2M |
| NPKI NPK International Inc.new | +$2M |
| VTS Vitesse Energy, Inc. | +$2M |
| RLGT Radiant Logistics, Inc.new | +$2M |
| MITK Mitek Systems, Inc. | +$2M |
| NWPX NWPX Infrastructure, Inc.new | +$2M |
| ASUR Asure Software, Inc.new | +$2M |
Top sells this quarter · 15
| GHM Graham Corporation | −$4M |
| SPHR Sphere Entertainment Co. | −$3M |
| DAKT Daktronics, Inc. | −$2M |
| PSIX Power Solutions International, | −$2M |
| RCKY Rocky Brands, Inc. | −$6M |
| PENG Penguin Solutions, Inc. | −$1M |
| AMD Advanced Micro Devices, Inc. | −$1M |
| THR Thermon Group Holdings, Inc.exit | −$1M |
| KEX Kirby Corporation | −$1M |
| FFBC First Financial Bancorp. | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.65B | 1700 | +14.10% | +17.59% | -3.49% | +0.09B |
| 2025-12-31 | $1.59B | 1570 | +12.31% | +17.72% | -5.40% | +0.02B |
| 2025-09-30 | $1.56B | 1321 | +11.84% | +17.52% | -5.68% | -0.00B |
| 2025-06-30 | $1.43B | 1213 | +11.51% | +14.94% | -3.43% | -0.02B |
| 2025-03-31 | $1.37B | 1200 | +4.86% | +8.30% | -3.45% | -0.01B |
| 2024-12-31 | $1.44B | 1217 | +16.20% | +24.89% | -8.69% | -0.02B |
| 2024-09-30 | $1.45B | 1186 | +29.01% | +36.04% | -7.03% | -0.03B |
| 2024-06-30 | $1.36B | 1164 | +15.17% | +24.49% | -9.32% | -0.03B |
| 2024-03-31 | $1.40B | 1230 | +20.23% | +29.62% | -9.39% | +0.01B |
| 2023-12-31 | $1.30B | 1189 | +17.98% | +26.18% | -8.19% | -0.02B |
| 2023-09-30 | $1.18B | 1275 | +15.28% | +21.57% | -6.29% | -0.01B |
| 2023-06-30 | $1.23B | 1289 | +11.70% | +19.42% | -7.73% | -0.03B |
| 2023-03-31 | $1.21B | 1300 | -8.62% | -7.82% | -0.81% | +0.03B |
| 2022-12-31 | $1.13B | 1312 | -17.06% | -18.17% | +1.11% | +0.01B |
| 2022-09-30 | $1.02B | 1128 | -15.52% | -15.51% | -0.01% | -0.01B |
| 2022-06-30 | $1.10B | 1129 | -9.24% | -10.62% | +1.38% | +0.01B |