Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-11.02%
trims when stocks drop
when a holding falls −10%+
Middle response
+1.44%
steady accumulation
Rally response
-5.02%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| PGThe Procter & Gamble Com | $39M | 4.5% | -10.9% | 8.0 yr |
| VGKVanguard FTSE Europe ETF | $39M | 4.4% | — | 8.0 yr |
| PLMRPalomar Holdings, Inc. | $22M | 2.5% | +13.2% | 5.3 yr |
| AAPLApple Inc. | $17M | 2.0% | +1.9% | 7.8 yr |
| SPEMState Street SPDR Portfo | $17M | 1.9% | — | 7.0 yr |
| XLKState Street Technology | $15M | 1.8% | — | 8.0 yr |
| EMXCiShares MSCI Emerging Ma | $14M | 1.6% | — | 2.8 yr |
| IMTMiShares MSCI Intl Moment | $12M | 1.4% | — | 8.0 yr |
| MSFTMicrosoft Corporation | $12M | 1.3% | -11.3% | 8.0 yr |
| GOOGLAlphabet Inc. | $11M | 1.3% | — | 8.0 yr |
| BBAXJPMorgan BetaBuilders De | $11M | 1.3% | — | 3.8 yr |
| VPLVanguard FTSE Pacific ET | $11M | 1.2% | — | 8.0 yr |
| VSSVanguard FTSE All-World | $11M | 1.2% | — | 8.0 yr |
| IVLUiShares MSCI Intl Value | $11M | 1.2% | — | 6.5 yr |
| VOEVanguard Mid-Cap Value E | $11M | 1.2% | — | 8.0 yr |
Portfolio composition (YoY)
Industry mix
Asset Management51.5%-0.7pp$450M
Household & Personal Products4.5%-1.5pp$40M
Semiconductors3.3%+0.6pp$28M
Insurance - Property & Casualty3.2%+0.8pp$28M
Internet Content & Information2.7%+0.5pp$24M
Consumer Electronics2.0%-0.5pp$18M
Software - Infrastructure1.8%-2.2pp$16M
Drug Manufacturers - General1.7%+0.6pp$15M
Specialty Retail1.4%-0.3pp$12M
Telecommunications Services1.4%+0.2pp$12M
Country
US92.0%-0.3pp
Unknown0.8%-0.6pp
IE0.7%+0.1pp
SG0.6%+0.4pp
GB0.6%+0.1pp
JP0.5%-0.2pp
CA0.4%+0.0pp
DE0.4%+0.0pp
Top 5: 15.3% · Top 10: 22.7% · Top 25: 39.5%
Top buys this quarter · 15
| FDX FedEx Corporation | +$2M |
| PANW Palo Alto Networks, Inc. | +$2M |
| BMY Bristol-Myers Squibb Company | +$1M |
| AAPL Apple Inc. | +$17M |
| AES The AES Corporation | +$1M |
| STT State Street Corporation | +$1M |
| NVDA NVIDIA Corporation | +$1M |
| PFG Principal Financial Group, Inc | +$1M |
| EIX Edison International | +$1M |
| SEB Seaboard Corporation | +$1M |
Top sells this quarter · 15
| BME.L B&M European Value Retail S.A.exit | −$8M |
| MU Micron Technology, Inc. | −$3M |
| IBM International Business Machine | −$1M |
| HOOD Robinhood Markets, Inc.exit | −$1M |
| KLAC KLA Corporation | −$1M |
| AMAT Applied Materials, Inc. | −$4M |
| GLW Corning Incorporated | −$2M |
| LRCX Lam Research Corporation | −$3M |
| COF Capital One Financial Corporat | −$1M |
| VLO Valero Energy Corporation | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $874M | 985 | +14.58% | +4.12% | +10.46% | -0.02B |
| 2025-12-31 | $898M | 968 | +12.77% | +11.59% | +1.18% | +0.01B |
| 2025-06-30 | $818M | 920 | +9.29% | +14.94% | -5.65% | -0.05B |
| 2025-03-31 | $800M | 979 | +0.30% | +8.30% | -8.00% | +0.03B |
| 2024-12-31 | $785M | 921 | +14.80% | +24.89% | -10.09% | +0.14B |
| 2024-09-30 | $654M | 899 | +25.61% | +36.04% | -10.43% | -0.15B |
| 2024-06-30 | $768M | 889 | +17.51% | +24.49% | -6.98% | +0.14B |
| 2024-03-31 | $638M | 888 | +28.61% | +29.62% | -1.01% | -0.14B |
| 2023-12-31 | $690M | 893 | +22.93% | +26.18% | -3.25% | +0.04B |
| 2023-09-30 | $607M | 871 | +26.56% | +21.57% | +4.99% | -0.04B |
| 2023-06-30 | $658M | 888 | +21.16% | +19.42% | +1.73% | -0.03B |
| 2023-03-31 | $636M | 898 | -5.64% | -7.82% | +2.18% | -0.00B |
| 2022-12-31 | $595M | 892 | -16.15% | -18.17% | +2.02% | -0.01B |
| 2022-09-30 | $548M | 910 | -16.12% | -15.51% | -0.61% | -0.00B |
| 2022-06-30 | $589M | 970 | -9.93% | -10.62% | +0.69% | +0.05B |
| 2022-03-31 | $642M | 907 | +15.45% | +15.45% | -0.00% | +0.00B |