Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+2.17%
adds when stocks drop
when a holding falls −10%+
Middle response
-3.48%
baseline attrition
Rally response
-12.46%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| SPLGSPDR Portfolio S&P 500 E | $477M | 3.7% | — | 1.0 yr |
| VOOVanguard S&P 500 ETF | $336M | 2.6% | — | 3.3 yr |
| NVDANVIDIA Corporation | $324M | 2.5% | +60.9% | 6.5 yr |
| — | $314M | 2.5% | — | 0.3 yr |
| MSFTMicrosoft Corporation | $300M | 2.3% | -0.6% | 6.3 yr |
| METAMeta Platforms, Inc. | $291M | 2.3% | -0.4% | 6.5 yr |
| TSLATesla, Inc. | $256M | 2.0% | +43.4% | 6.0 yr |
| AMZNAmazon.com, Inc. | $253M | 2.0% | +9.5% | 6.5 yr |
| AAPLApple Inc. | $241M | 1.9% | +14.7% | 6.5 yr |
| AGGiShares Core U.S. Aggreg | $241M | 1.9% | — | 1.0 yr |
| MAGSRoundhill Investments - | $219M | 1.7% | — | 1.0 yr |
| SPABState Street SPDR Portfo | $183M | 1.4% | — | 0.8 yr |
| GOOGLAlphabet Inc. | $183M | 1.4% | — | 6.5 yr |
| VTWOVanguard Russell 2000 ET | $127M | 1.0% | — | 0.5 yr |
| SCHRSchwab Intermediate-Term | $105M | 0.8% | — | 1.0 yr |
Portfolio composition (YoY)
Industry mix
Asset Management27.1%+9.8pp$3.47B
Semiconductors6.4%+0.3pp$817M
Oil & Gas Midstream5.1%-4.3pp$648M
Internet Content & Information4.6%-1.0pp$583M
Software - Infrastructure4.0%+0.2pp$516M
Unknown3.1%+2.4pp$399M
Specialty Retail3.0%-0.2pp$379M
Asset Management - Bonds2.9%+0.8pp$368M
Auto - Manufacturers2.4%+0.1pp$310M
Software - Application2.0%-1.3pp$259M
Country
US89.8%-3.9pp
Unknown3.1%+2.4pp
CA2.4%-0.0pp
TW0.5%+0.4pp
IE0.5%+0.2pp
GB0.5%+0.1pp
BR0.5%+0.3pp
CN0.4%+0.0pp
Top 5: 13.7% · Top 10: 23.7% · Top 25: 36.4%
Top buys this quarter · 15
| MSFT Microsoft Corporation | +$300M |
| TGT Target Corporation | +$43M |
| GOOG Alphabet Inc. | +$37M |
| AVGO Broadcom Inc. | +$37M |
| META Meta Platforms, Inc. | +$291M |
| CL Colgate-Palmolive Company | +$28M |
| BMY Bristol-Myers Squibb Company | +$27M |
| TSLA Tesla, Inc. | +$256M |
| COHR Coherent, Inc. | +$23M |
| CVS CVS Health Corporation | +$21M |
Top sells this quarter · 15
| CRCL Circle Internet Group | −$32M |
| MRK Merck & Co., Inc. | −$27M |
| GILD Gilead Sciences, Inc. | −$27M |
| PWR Quanta Services, Inc. | −$26M |
| PL Planet Labs PBC | −$23M |
| HON Honeywell International Inc. | −$22M |
| CEG Constellation Energy Corporati | −$22M |
| MTZ MasTec, Inc.exit | −$20M |
| COIN Coinbase Global, Inc. | −$20M |
| XOM Exxon Mobil Corporation | −$47M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $12.79B | 1508 | +21.73% | +17.59% | +4.13% | +1.16B |
| 2025-12-31 | $11.81B | 1579 | +18.84% | +17.72% | +1.12% | +1.55B |
| 2025-09-30 | $10.34B | 1423 | +26.44% | +17.52% | +8.92% | +1.85B |
| 2025-06-30 | $7.72B | 1385 | +23.79% | +14.94% | +8.85% | +1.39B |
| 2025-03-31 | $5.59B | 1247 | +10.02% | +8.30% | +1.72% | +0.88B |
| 2024-12-31 | $4.90B | 1384 | +22.00% | +24.89% | -2.89% | +0.47B |
| 2024-09-30 | $4.20B | 1313 | +31.22% | +36.04% | -4.81% | -0.01B |
| 2024-06-30 | $3.91B | 1201 | +14.55% | +24.49% | -9.94% | +0.03B |
| 2024-03-31 | $3.85B | 1226 | +22.81% | +29.62% | -6.81% | -0.02B |
| 2023-12-31 | $3.63B | 1218 | +27.80% | +26.18% | +1.62% | -0.37B |
| 2023-09-30 | $3.52B | 1304 | +17.73% | +21.57% | -3.84% | -0.10B |
| 2023-06-30 | $3.86B | 1299 | +16.85% | +19.42% | -2.57% | -0.08B |
| 2023-03-31 | $3.65B | 1127 | -15.54% | -7.82% | -7.72% | -0.22B |
| 2022-12-31 | $3.49B | 1164 | -27.35% | -18.17% | -9.18% | +0.30B |
| 2022-09-30 | $3.05B | 1139 | -22.82% | -15.51% | -7.31% | +0.25B |
| 2022-06-30 | $3.00B | 1200 | -16.81% | -10.62% | -6.19% | -0.89B |