Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-8.10%
trims when stocks drop
when a holding falls −10%+
Middle response
-2.55%
baseline attrition
Rally response
-1.27%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| AAPLApple Inc. | $29M | 5.3% | +14.7% | 10.5 yr |
| NVDANVIDIA Corporation | $26M | 4.7% | +60.9% | 10.3 yr |
| GOOGLAlphabet Inc. | $24M | 4.5% | — | 10.5 yr |
| GLDSPDR Gold Shares | $20M | 3.6% | — | 7.3 yr |
| AVGOBroadcom Inc. | $16M | 2.9% | +86.0% | 8.0 yr |
| AMZNAmazon.com, Inc. | $15M | 2.8% | +9.5% | 10.5 yr |
| MSFTMicrosoft Corporation | $15M | 2.7% | -0.6% | 8.0 yr |
| FNDFSchwab Fundamental Inter | $14M | 2.6% | — | 1.3 yr |
| JPMJPMorgan Chase & Co. | $12M | 2.3% | +21.8% | 10.5 yr |
| SCHOSchwab Short-Term U.S. T | $12M | 2.2% | — | 1.8 yr |
| MBBiShares MBS ETF | $11M | 2.1% | — | 4.5 yr |
| USIGiShares Broad USD Invest | $11M | 2.1% | — | 3.3 yr |
| SCHPSchwab U.S. TIPS ETF | $11M | 2.0% | — | 1.3 yr |
| GSThe Goldman Sachs Group, | $10M | 1.9% | +58.1% | 10.0 yr |
| CLSCelestica Inc. | $10M | 1.8% | +257.4% | 2.0 yr |
Portfolio composition (YoY)
Industry mix
Asset Management20.7%+0.8pp$113M
Semiconductors11.7%+3.4pp$64M
Internet Content & Information5.9%+1.3pp$32M
Consumer Electronics5.3%-0.1pp$29M
Software - Infrastructure4.4%-1.1pp$24M
Specialty Retail3.9%-0.7pp$21M
Banks - Diversified3.4%+0.1pp$19M
Asset Management - Bonds3.3%-0.6pp$18M
Financial - Capital Markets2.8%+0.9pp$15M
Discount Stores2.4%-0.2pp$13M
Country
US93.6%-1.1pp
CA2.5%+1.0pp
TW1.4%+0.7pp
NL0.7%+0.3pp
GB0.6%+0.5pp
IE0.4%+0.0pp
CN0.3%+0.2pp
JP0.1%-0.0pp
Top 5: 20.9% · Top 10: 33.6% · Top 25: 57.1%
Top buys this quarter · 15
| PANW Palo Alto Networks, Inc. | +$5M |
| LOW Lowe's Companies, Inc. | +$2M |
| YUMC Yum China Holdings, Inc.new | +$2M |
| LLY Eli Lilly and Company | +$1M |
| AZN AstraZeneca PLCnew | +$1M |
| AAPL Apple Inc. | +$29M |
| MRK Merck & Co., Inc. | +$1M |
| TSM Taiwan Semiconductor Manufactu | +$1M |
| RIO Rio Tinto Group | +$1M |
| APP AppLovin Corporation | +$1M |
Top sells this quarter · 15
| LRN Stride, Inc. | −$3M |
| CARG CarGurus, Inc.exit | −$2M |
| TILE Interface, Inc.exit | −$2M |
| AVGO Broadcom Inc. | −$1M |
| SE Sea Limitedexit | −$1M |
| JCI Johnson Controls International | −$1M |
| V Visa Inc. | −$1M |
| CORT Corcept Therapeutics Incorporaexit | −$1M |
| RSI Rush Street Interactive, Inc. | −$1M |
| ORLY O'Reilly Automotive, Inc.exit | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $543M | 235 | +28.25% | +17.59% | +10.66% | -0.00B |
| 2025-12-31 | $549M | 230 | +21.58% | +17.72% | +3.86% | +0.00B |
| 2025-09-30 | $541M | 217 | +25.10% | +17.52% | +7.59% | -0.01B |
| 2025-06-30 | $500M | 224 | +19.90% | +14.94% | +4.96% | -0.02B |
| 2025-03-31 | $450M | 232 | +9.32% | +8.30% | +1.02% | +0.02B |
| 2024-12-31 | $454M | 237 | +28.82% | +24.89% | +3.93% | -0.09B |
| 2024-09-30 | $520M | 243 | +37.48% | +36.04% | +1.44% | +0.11B |
| 2024-06-30 | $388M | 213 | +24.67% | +24.49% | +0.18% | +0.03B |
| 2024-03-31 | $342M | 183 | +27.23% | +29.62% | -2.40% | +0.00B |
| 2023-12-31 | $307M | 171 | +22.16% | +26.18% | -4.02% | -0.00B |
| 2023-09-30 | $276M | 173 | +16.51% | +21.57% | -5.06% | +0.00B |
| 2023-06-30 | $288M | 172 | +16.82% | +19.42% | -2.60% | -0.00B |
| 2023-03-31 | $270M | 157 | -5.82% | -7.82% | +2.00% | +0.00B |
| 2022-12-31 | $253M | 145 | +6.34% | +7.56% | -1.22% | -0.03B |
| 2022-09-30 | $262M | 151 | -4.05% | -4.93% | +0.88% | +0.00B |
| 2022-06-30 | $271M | 163 | -13.33% | -16.11% | +2.78% | -0.01B |