Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-0.23%
trims when stocks drop
when a holding falls −10%+
Middle response
-1.78%
baseline attrition
Rally response
-6.27%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| VEAVanguard FTSE Developed | $1.35B | 30.1% | — | 10.5 yr |
| IVViShares Core S&P 500 ETF | $931M | 20.7% | — | 10.5 yr |
| IWDiShares Russell 1000 Val | $527M | 11.7% | — | 10.5 yr |
| VWOVanguard FTSE Emerging M | $308M | 6.8% | — | 10.5 yr |
| NKENIKE, Inc. | $258M | 5.7% | -14.7% | 10.5 yr |
| SCHPSchwab U.S. TIPS ETF | $171M | 3.8% | — | 2.5 yr |
| CEGConstellation Energy Cor | $105M | 2.3% | +39.2% | 0.3 yr |
| ACWIiShares MSCI ACWI ETF | $83M | 1.9% | — | 10.5 yr |
| IWNiShares Russell 2000 Val | $61M | 1.4% | — | 10.5 yr |
| VOOVanguard S&P 500 ETF | $60M | 1.3% | — | 10.5 yr |
| GOOGAlphabet Inc. | $42M | 0.9% | +84.3% | 10.5 yr |
| DELLDell Technologies Inc. | $37M | 0.8% | +83.4% | 6.8 yr |
| RBLXRoblox Corporation | $33M | 0.7% | -3.0% | 5.3 yr |
| IWFiShares Russell 1000 Gro | $30M | 0.7% | — | 10.5 yr |
| EFAiShares MSCI EAFE ETF | $30M | 0.7% | — | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management81.2%-0.4pp$3.65B
Apparel - Footwear & Accessories5.7%+5.4pp$258M
Renewable Utilities2.3%$105M
Software - Application1.7%-2.1pp$78M
Internet Content & Information1.5%-0.5pp$67M
Software - Infrastructure1.4%-0.9pp$63M
Electronic Gaming & Multimedia0.9%-0.6pp$38M
Computer Hardware0.8%+0.2pp$37M
Financial - Credit Services0.6%-0.5pp$28M
Financial - Data & Stock Exchanges0.4%-0.2pp$18M
Country
US99.6%+0.3pp
LU0.1%-0.1pp
IE0.1%-0.1pp
BR0.1%-0.0pp
IT0.1%-0.0pp
RU0.0%+0.0pp
Unknown0.0%-0.0pp
BM0.0%-0.0pp
Top 5: 75.2% · Top 10: 85.9% · Top 25: 93.8%
Top buys this quarter · 15
| CEG Constellation Energy Corporatinew | +$105M |
| MDLN Medline Inc. | +$4M |
| CRCL Circle Internet Group | +$2M |
| RYTM Rhythm Pharmaceuticals, Inc. | +$1M |
| GOOG Alphabet Inc. | +$42M |
| FIGR Figure Technology Solutions, Inew | +$0M |
| DELL Dell Technologies Inc. | +$0M |
| TSM Taiwan Semiconductor Manufactunew | +$0M |
| PJAN Innovator U.S. Equity Power Bunew | +$0M |
| QQQ Invesco QQQ Trust, Series 1 | +$5M |
Top sells this quarter · 11
| CRGY Crescent Energy Company | −$2M |
| CFLT Confluent, Inc.exit | −$0M |
| MDB MongoDB, Inc. | −$0M |
| PD PagerDuty, Inc.exit | −$0M |
| NOW ServiceNow, Inc. | −$0M |
| ALEC Alector, Inc. | −$0M |
| COUR Coursera, Inc. | −$0M |
| IVV iShares Core S&P 500 ETF | −$0M |
| IWD iShares Russell 1000 Value ETF | −$0M |
| VOO Vanguard S&P 500 ETF | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $4.49B | 143 | +0.18% | +17.59% | -17.41% | +0.72B |
| 2025-12-31 | $4.51B | 140 | +9.22% | +17.72% | -8.50% | +0.45B |
| 2025-09-30 | $4.44B | 145 | +32.61% | +17.52% | +15.09% | +0.08B |
| 2025-06-30 | $4.00B | 148 | +26.65% | +14.94% | +11.71% | +0.25B |
| 2025-03-31 | $3.11B | 148 | +6.41% | +8.30% | -1.89% | +0.23B |
| 2024-12-31 | $3.16B | 144 | +23.12% | +24.89% | -1.77% | -0.74B |
| 2024-09-30 | $3.51B | 143 | +32.65% | +36.04% | -3.39% | +0.29B |
| 2024-06-30 | $3.09B | 147 | +21.40% | +24.49% | -3.09% | -0.12B |
| 2024-03-31 | $3.18B | 151 | +38.11% | +29.62% | +8.49% | +0.55B |
| 2023-12-31 | $2.50B | 147 | +47.87% | +26.18% | +21.70% | -0.05B |
| 2023-09-30 | $2.13B | 144 | +13.40% | +21.57% | -8.17% | +0.24B |
| 2023-06-30 | $1.99B | 142 | +18.42% | +19.42% | -1.00% | -0.42B |
| 2023-03-31 | $2.10B | 150 | -33.49% | -7.82% | -25.68% | +0.20B |
| 2022-12-31 | $1.68B | 147 | -43.79% | -18.17% | -25.62% | +0.31B |
| 2022-09-30 | $1.49B | 148 | -31.93% | -15.51% | -16.42% | -0.15B |
| 2022-06-30 | $1.65B | 145 | -31.20% | -10.62% | -20.58% | +0.34B |