Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+1.76%
adds when stocks drop
when a holding falls −10%+
Middle response
-7.59%
baseline attrition
Rally response
+5.94%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| AAPLApple Inc. | $258M | 3.0% | +14.7% | 10.0 yr |
| AVGOBroadcom Inc. | $235M | 2.7% | +86.0% | 7.8 yr |
| MSFTMicrosoft Corporation | $233M | 2.7% | -0.6% | 10.0 yr |
| NVDANVIDIA Corporation | $212M | 2.5% | +60.9% | 6.3 yr |
| CCitigroup Inc. | $131M | 1.5% | +63.9% | 10.3 yr |
| ABBVAbbVie Inc. | $131M | 1.5% | +7.3% | 6.5 yr |
| CVXChevron Corporation | $130M | 1.5% | +29.2% | 9.5 yr |
| JPMJPMorgan Chase & Co. | $129M | 1.5% | +21.8% | 8.0 yr |
| JNJJohnson & Johnson | $127M | 1.5% | +51.5% | 10.3 yr |
| PMPhilip Morris Internatio | $127M | 1.5% | +7.9% | 9.5 yr |
| GOOGAlphabet Inc. | $125M | 1.5% | +84.3% | 8.0 yr |
| CSCOCisco Systems, Inc. | $125M | 1.5% | +28.1% | 8.0 yr |
| IVViShares Core S&P 500 ETF | $124M | 1.5% | — | 7.0 yr |
| IBMInternational Business M | $124M | 1.4% | -0.1% | 9.5 yr |
| AMZNAmazon.com, Inc. | $115M | 1.3% | +9.5% | 8.3 yr |
Portfolio composition (YoY)
Industry mix
Asset Management12.4%+0.5pp$1.07B
Semiconductors8.0%+0.8pp$684M
Drug Manufacturers - General5.6%+0.1pp$480M
Banks - Diversified4.5%+0.3pp$388M
Oil & Gas Midstream4.2%-0.0pp$358M
Software - Infrastructure4.1%-0.6pp$351M
Asset Management - Bonds3.6%-1.1pp$312M
Unknown3.2%+2.5pp$278M
Internet Content & Information3.2%+0.8pp$270M
Consumer Electronics3.0%-0.1pp$258M
Country
US90.7%-1.2pp
Unknown3.2%+2.5pp
IE2.6%-1.5pp
CA0.8%+0.2pp
TW0.7%+0.1pp
SG0.5%+0.1pp
CH0.5%+0.4pp
GB0.4%-0.6pp
Top 5: 12.5% · Top 10: 20.0% · Top 25: 37.3%
Top buys this quarter · 15
| IBM International Business Machine | +$37M |
| MPT Medical Properties Trust, Inc. | +$29M |
| NFLX Netflix, Inc. | +$25M |
| SJM The J. M. Smucker Company | +$17M |
| PEP PepsiCo, Inc. | +$15M |
| CRM Salesforce, Inc. | +$14M |
| COLD Americold Realty Trust, Inc.new | +$14M |
| VZ Verizon Communications Inc. | +$13M |
| AXP American Express Company | +$11M |
| EBAY eBay Inc. | +$10M |
Top sells this quarter · 15
| ACN Accenture plc | −$46M |
| SPY State Street SPDR S&P 500 ETF | −$33M |
| STX Seagate Technology Holdings pl | −$28M |
| EXC Exelon Corporation | −$24M |
| BX Blackstone Inc. | −$15M |
| TSM Taiwan Semiconductor Manufactu | −$11M |
| GOOG Alphabet Inc. | −$10M |
| SPG Simon Property Group, Inc. | −$10M |
| GNRC Generac Holdings Inc. | −$8M |
| SO The Southern Company | −$8M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $8.58B | 566 | +18.67% | +17.59% | +1.08% | +0.11B |
| 2025-12-31 | $8.50B | 567 | +16.55% | +17.72% | -1.17% | +0.28B |
| 2025-09-30 | $8.08B | 536 | +16.96% | +17.52% | -0.56% | +0.22B |
| 2025-06-30 | $7.30B | 516 | +17.55% | +14.94% | +2.61% | +0.28B |
| 2025-03-31 | $6.46B | 506 | +9.93% | +8.30% | +1.63% | +0.24B |
| 2024-12-31 | $6.36B | 506 | +21.03% | +24.89% | -3.86% | +0.08B |
| 2024-09-30 | $6.15B | 493 | +30.06% | +36.04% | -5.97% | -0.06B |
| 2024-06-30 | $5.73B | 480 | +17.81% | +24.49% | -6.69% | +0.18B |
| 2024-03-31 | $5.47B | 464 | +21.60% | +29.62% | -8.02% | +0.17B |
| 2023-12-31 | $4.91B | 458 | +17.54% | +26.18% | -8.64% | +0.59B |
| 2023-09-30 | $3.94B | 397 | +16.57% | +21.57% | -5.00% | -0.17B |
| 2023-06-30 | $4.19B | 418 | +11.69% | +19.42% | -7.73% | +0.15B |
| 2023-03-31 | $3.86B | 424 | -8.30% | -7.82% | -0.49% | +0.03B |
| 2022-12-31 | $3.68B | 436 | -16.03% | -18.17% | +2.14% | -0.39B |
| 2022-09-30 | $3.74B | 449 | -14.31% | -15.51% | +1.20% | +0.68B |
| 2022-06-30 | $3.25B | 423 | -8.27% | -10.62% | +2.35% | +0.13B |