Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-0.19%
trims when stocks drop
when a holding falls −10%+
Middle response
+0.20%
steady accumulation
Rally response
-0.68%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| SPYState Street SPDR S&P 50 | $415M | 9.0% | +17.6% | 10.5 yr |
| IWRiShares Russell Mid-Cap | $378M | 8.2% | — | 10.5 yr |
| IWMiShares Russell 2000 ETF | $213M | 4.6% | — | 10.5 yr |
| VOOVanguard S&P 500 ETF | $204M | 4.4% | — | 6.5 yr |
| IXUSiShares Core MSCI Total | $149M | 3.2% | — | 6.5 yr |
| BNDVanguard Total Bond Mark | $117M | 2.5% | — | 10.5 yr |
| IVViShares Core S&P 500 ETF | $107M | 2.3% | — | 10.5 yr |
| LOWLowe's Companies, Inc. | $104M | 2.3% | +3.4% | 6.0 yr |
| AAPLApple Inc. | $101M | 2.2% | +14.7% | 10.5 yr |
| VTIVanguard Total Stock Mar | $93M | 2.0% | — | 10.5 yr |
| IWBiShares Russell 1000 ETF | $93M | 2.0% | — | 10.5 yr |
| IEFAiShares Core MSCI EAFE E | $87M | 1.9% | — | 6.5 yr |
| EFAiShares MSCI EAFE ETF | $74M | 1.6% | — | 10.5 yr |
| VXUSVanguard Total Internati | $72M | 1.6% | — | 4.0 yr |
| BLLBall Corporation | $69M | 1.5% | — | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management65.4%+1.9pp$3.01B
Asset Management - Bonds5.1%-0.4pp$236M
Home Improvement3.0%-0.8pp$137M
Consumer Electronics2.2%+0.1pp$101M
Packaging & Containers1.7%-0.9pp$78M
Drug Manufacturers - General1.7%+0.2pp$78M
Asset Management - Global1.2%+0.6pp$54M
Semiconductors1.2%+0.4pp$53M
Internet Content & Information1.1%+0.3pp$51M
Banks - Diversified1.0%+0.1pp$46M
Country
US98.4%-0.2pp
GB0.5%-0.1pp
TW0.3%+0.2pp
IE0.2%-0.0pp
Unknown0.1%+0.1pp
CA0.1%+0.0pp
CH0.1%+0.0pp
BM0.1%+0.0pp
Top 5: 29.6% · Top 10: 40.9% · Top 25: 60.7%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| SPY | $340M | +0.06B | 17.6% |
| AAPL | $75M | +0.01B | 14.7% |
| LOW | $102M | +0.00B | 3.4% |
| HD | $33M | -0.00B | -8.0% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| HD | $33M | -0.00B | -8.0% |
Top buys this quarter · 15
| SPY State Street SPDR S&P 500 ETF | +$33M |
| PNC The PNC Financial Services Gro | +$26M |
| AAPL Apple Inc. | +$16M |
| INTU Intuit Inc. | +$5M |
| AZN AstraZeneca PLCnew | +$5M |
| MSFT Microsoft Corporation | +$30M |
| KO The Coca-Cola Company | +$4M |
| TXN Texas Instruments Incorporated | +$4M |
| TJX The TJX Companies, Inc. | +$4M |
| GOOG Alphabet Inc. | +$3M |
Top sells this quarter · 15
| MGA Magna International Inc.exit | −$4M |
| IQV IQVIA Holdings Inc.exit | −$3M |
| D Dominion Energy, Inc. | −$3M |
| DK Delek US Holdings, Inc.exit | −$3M |
| RUN Sunrun Inc. | −$3M |
| KTB Kontoor Brands, Inc. | −$2M |
| KEY KeyCorpexit | −$2M |
| CLF Cleveland-Cliffs Inc.exit | −$2M |
| HUM Humana Inc.exit | −$2M |
| SUI Sun Communities, Inc.exit | −$2M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $4.60B | 468 | +14.07% | +17.59% | -3.53% | +0.42B |
| 2025-12-31 | $4.24B | 445 | +12.24% | +17.72% | -5.48% | +0.07B |
| 2025-09-30 | $4.10B | 444 | +10.06% | +17.52% | -7.46% | -0.04B |
| 2025-06-30 | $3.80B | 440 | +10.72% | +14.94% | -4.22% | +0.09B |
| 2025-03-31 | $3.56B | 435 | +6.49% | +8.30% | -1.82% | +0.05B |
| 2024-12-31 | $3.62B | 440 | +18.86% | +24.89% | -6.03% | -0.06B |
| 2024-09-30 | $3.69B | 432 | +31.72% | +36.04% | -4.32% | -0.35B |
| 2024-06-30 | $3.69B | 436 | +15.90% | +24.49% | -8.59% | +0.26B |
| 2024-03-31 | $3.42B | 420 | +22.44% | +29.62% | -7.18% | -0.03B |
| 2023-12-31 | $3.18B | 419 | +17.53% | +26.18% | -8.65% | +0.02B |
| 2023-09-30 | $2.86B | 412 | +15.49% | +21.57% | -6.08% | -0.03B |
| 2023-06-30 | $3.00B | 434 | +13.64% | +19.42% | -5.78% | -0.07B |
| 2023-03-31 | $2.89B | 447 | -7.34% | -7.82% | +0.48% | +0.02B |
| 2022-12-31 | $2.76B | 437 | -15.02% | -18.17% | +3.15% | -0.13B |
| 2022-09-30 | $2.65B | 429 | -13.19% | -15.51% | +2.32% | +0.13B |
| 2022-06-30 | $2.66B | 418 | -7.94% | -10.62% | +2.68% | -0.04B |