Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-0.99%
trims when stocks drop
when a holding falls −10%+
Middle response
-1.02%
baseline attrition
Rally response
+8.34%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| SPYVState Street SPDR Portfo | $4.61B | 9.5% | — | 6.5 yr |
| SPMBState Street SPDR Portfo | $4.22B | 8.7% | — | 4.8 yr |
| SCHFSchwab International Equ | $3.78B | 7.8% | — | 9.0 yr |
| IGIBiShares 5-10 Year Invest | $3.39B | 7.0% | — | 6.8 yr |
| SPDWState Street SPDR Portfo | $2.55B | 5.2% | — | 7.0 yr |
| XTiShares Future Exponenti | $2.21B | 4.5% | — | 7.3 yr |
| SCHMSchwab U.S. Mid-Cap ETF | $1.76B | 3.6% | — | 8.5 yr |
| KOMPState Street SPDR S&P Ke | $1.73B | 3.6% | — | 7.0 yr |
| IWDiShares Russell 1000 Val | $1.71B | 3.5% | — | 7.8 yr |
| SPYGState Street SPDR Portfo | $1.70B | 3.5% | — | 6.5 yr |
| SCHVSchwab U.S. Large-Cap Va | $1.48B | 3.0% | — | 9.3 yr |
| SPTLState Street SPDR Portfo | $1.44B | 3.0% | — | 8.3 yr |
| SCHKSchwab 1000 Index ETF | $1.37B | 2.8% | — | 7.0 yr |
| VWOVanguard FTSE Emerging M | $1.32B | 2.7% | — | 6.5 yr |
| SCHHSchwab U.S. REIT ETF | $1.29B | 2.6% | — | 9.0 yr |
Portfolio composition (YoY)
Industry mix
Asset Management84.9%-8.3pp$41.33B
Asset Management - Bonds14.0%+8.1pp$6.82B
Internet Content & Information0.1%+0.0pp$66M
Semiconductors0.1%+0.1pp$50M
Consumer Electronics0.1%+0.0pp$46M
Software - Infrastructure0.1%-0.1pp$42M
Drug Manufacturers - General0.1%-0.0pp$26M
Specialty Retail0.1%+0.0pp$26M
Insurance - Diversified0.0%+0.0pp$21M
Aerospace & Defense0.0%+0.0pp$21M
Country
US100.0%-0.0pp
IE0.0%+0.0pp
GB0.0%-0.0pp
CA0.0%+0.0pp
CH0.0%+0.0pp
Unknown0.0%+0.0pp
LU0.0%-0.0pp
TW0.0%+0.0pp
Top 5: 38.1% · Top 10: 56.8% · Top 25: 88.6%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Top buys this quarter · 15
| MDU MDU Resources Group, Inc. | +$2M |
| AAPL Apple Inc. | +$46M |
| NBTB NBT Bancorp Inc.new | +$1M |
| NFLX Netflix, Inc. | +$1M |
| NVDA NVIDIA Corporation | +$38M |
| MSFT Microsoft Corporation | +$36M |
| GOOG Alphabet Inc. | +$20M |
| LRCX Lam Research Corporation | +$1M |
| GM General Motors Company | +$0M |
| PCG PG&E Corporationnew | +$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $48.68B | 522 | +23.90% | +17.59% | +6.30% | -1.88B |
| 2025-12-31 | $52.68B | 534 | +22.68% | +17.72% | +4.96% | +3.25B |
| 2025-09-30 | $48.12B | 533 | +25.63% | +17.52% | +8.12% | -3.02B |
| 2025-06-30 | $45.93B | 511 | +20.64% | +14.94% | +5.70% | -2.00B |
| 2025-03-31 | $42.46B | 423 | +9.29% | +8.30% | +0.99% | +1.17B |
| 2024-12-31 | $43.45B | 436 | +22.14% | +24.89% | -2.75% | -2.68B |
| 2024-09-30 | $43.85B | 373 | +30.48% | +36.04% | -5.56% | -0.20B |
| 2024-06-30 | $41.20B | 341 | +16.21% | +24.49% | -8.29% | -0.36B |
| 2024-03-31 | $40.65B | 323 | +22.46% | +29.62% | -7.17% | -4.38B |
| 2023-12-31 | $42.40B | 318 | +25.29% | +26.18% | -0.89% | -0.37B |
| 2023-09-30 | $38.05B | 277 | +20.11% | +21.57% | -1.45% | +0.50B |
| 2023-06-30 | $39.44B | 286 | +19.64% | +19.42% | +0.21% | -1.17B |
| 2023-03-31 | $37.68B | 283 | -7.05% | -7.82% | +0.77% | -0.33B |
| 2022-12-31 | $34.98B | 289 | -18.41% | -18.17% | -0.23% | +1.95B |
| 2022-09-30 | $30.66B | 285 | -15.89% | -15.51% | -0.38% | -0.46B |
| 2022-06-30 | $32.82B | 293 | -10.80% | -10.62% | -0.18% | +1.45B |