Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-4.69%
trims when stocks drop
when a holding falls −10%+
Middle response
+0.19%
steady accumulation
Rally response
-2.59%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| IVViShares Core S&P 500 ETF | $450M | 14.1% | — | 8.0 yr |
| VEAVanguard FTSE Developed | $189M | 5.9% | — | 10.5 yr |
| MSFTMicrosoft Corporation | $166M | 5.2% | -0.6% | 9.3 yr |
| NVDANVIDIA Corporation | $141M | 4.4% | +60.9% | 8.5 yr |
| AAPLApple Inc. | $129M | 4.0% | +14.7% | 10.5 yr |
| AGGiShares Core U.S. Aggreg | $94M | 2.9% | — | 9.5 yr |
| SPYState Street SPDR S&P 50 | $93M | 2.9% | +17.6% | 10.3 yr |
| VWOVanguard FTSE Emerging M | $87M | 2.7% | — | 10.5 yr |
| AMZNAmazon.com, Inc. | $82M | 2.6% | +9.5% | 10.5 yr |
| GOOGLAlphabet Inc. | $72M | 2.3% | — | 10.3 yr |
| VOOVanguard S&P 500 ETF | $54M | 1.7% | — | 9.3 yr |
| BRK-BBerkshire Hathaway Inc. | $42M | 1.3% | — | 10.5 yr |
| AVGOBroadcom Inc. | $41M | 1.3% | +86.0% | 7.3 yr |
| METAMeta Platforms, Inc. | $40M | 1.3% | -0.4% | 9.0 yr |
| COSTCostco Wholesale Corpora | $40M | 1.2% | +5.9% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management41.3%+2.3pp$1.32B
Semiconductors8.7%+0.5pp$278M
Software - Infrastructure6.6%-1.2pp$210M
Internet Content & Information4.4%+0.8pp$139M
Consumer Electronics4.0%+0.2pp$129M
Specialty Retail3.1%-0.3pp$99M
Drug Manufacturers - General2.4%-0.2pp$77M
Banks - Diversified2.0%-0.1pp$62M
Discount Stores1.7%-0.2pp$55M
Asset Management - Bonds1.6%+0.4pp$51M
Country
US97.7%-0.0pp
IE0.9%-0.1pp
GB0.3%+0.0pp
CA0.2%-0.0pp
DE0.1%+0.1pp
NL0.1%+0.0pp
Unknown0.1%-0.0pp
SG0.1%+0.1pp
Top 5: 33.7% · Top 10: 47.1% · Top 25: 62.1%
Top buys this quarter · 15
| ECCU Eagle Point Credit Company Inc | +$10M |
| GOOG Alphabet Inc. | +$3M |
| DMLP Dorchester Minerals, L.P. | +$3M |
| ALK Alaska Air Group, Inc. | +$2M |
| EBAY eBay Inc. | +$2M |
| FITB Fifth Third Bancorpnew | +$2M |
| PYPL PayPal Holdings, Inc. | +$2M |
| KRP Kimbell Royalty Partners, LP | +$2M |
| PCAR PACCAR Inc | +$2M |
| SM SM Energy Companynew | +$2M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $3.19B | 529 | +15.74% | +17.59% | -1.86% | +0.10B |
| 2025-12-31 | $3.30B | 527 | +16.30% | +17.72% | -1.42% | +0.08B |
| 2025-09-30 | $3.19B | 526 | +17.69% | +17.52% | +0.17% | +0.09B |
| 2025-06-30 | $2.87B | 449 | +14.40% | +14.94% | -0.54% | -0.08B |
| 2025-03-31 | $2.60B | 439 | +2.88% | +8.30% | -5.43% | -0.06B |
| 2024-12-31 | $2.82B | 439 | +17.30% | +24.89% | -7.59% | -0.06B |
| 2024-09-30 | $2.82B | 434 | +26.41% | +36.04% | -9.63% | -0.03B |
| 2024-06-30 | $2.72B | 456 | +17.43% | +24.49% | -7.06% | +0.05B |
| 2024-03-31 | $2.62B | 441 | +24.39% | +29.62% | -5.23% | +0.30B |
| 2023-12-31 | $2.16B | 399 | +24.71% | +26.18% | -1.46% | +0.16B |
| 2023-09-30 | $1.82B | 373 | +23.10% | +21.57% | +1.54% | -0.53B |
| 2023-06-30 | $2.42B | 392 | +19.71% | +19.42% | +0.29% | +0.05B |
| 2023-03-31 | $2.19B | 371 | -4.96% | -7.82% | +2.85% | -0.09B |
| 2022-12-31 | $2.12B | 377 | -15.79% | -18.17% | +2.39% | -0.22B |
| 2022-09-30 | $2.15B | 376 | -13.85% | -15.51% | +1.65% | -0.27B |
| 2022-06-30 | $2.55B | 420 | -8.62% | -10.62% | +2.00% | +0.48B |