Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+1.38%
adds when stocks drop
when a holding falls −10%+
Middle response
-5.57%
baseline attrition
Rally response
-10.56%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| VOOVanguard S&P 500 ETF | $304M | 45.1% | — | 10.5 yr |
| MSFTMicrosoft Corporation | $63M | 9.3% | -0.6% | 10.3 yr |
| AMZNAmazon.com, Inc. | $57M | 8.4% | +9.5% | 10.5 yr |
| GOOGLAlphabet Inc. | $29M | 4.3% | — | 2.3 yr |
| GRBKGreen Brick Partners, In | $28M | 4.2% | +10.5% | 4.8 yr |
| GSThe Goldman Sachs Group, | $17M | 2.5% | +58.1% | 1.0 yr |
| XBIState Street SPDR S&P Bi | $13M | 2.0% | — | 2.3 yr |
| METAMeta Platforms, Inc. | $12M | 1.7% | -0.4% | 4.3 yr |
| NFLXNetflix, Inc. | $10M | 1.4% | +3.1% | 2.5 yr |
| RSPInvesco S&P 500 Equal We | $10M | 1.4% | — | 3.5 yr |
| LOWLowe's Companies, Inc. | $9M | 1.4% | +3.4% | 5.3 yr |
| CBKCommercial Bancgroup, In | $7M | 1.0% | — | 0.5 yr |
| NVDANVIDIA Corporation | $6M | 0.9% | +60.9% | 2.8 yr |
| KFThe Korea Fund, Inc. | $6M | 0.9% | — | 2.3 yr |
| GSKGSK plc | $6M | 0.8% | +48.1% | 1.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management51.5%-2.8pp$348M
Software - Infrastructure9.3%-4.3pp$63M
Specialty Retail8.4%-1.5pp$57M
Internet Content & Information6.0%+4.2pp$41M
Residential Construction4.2%-0.7pp$28M
Semiconductors3.5%+0.5pp$23M
Financial - Capital Markets3.3%+3.1pp$22M
Home Improvement1.8%-0.6pp$12M
Entertainment1.6%+0.2pp$11M
Drug Manufacturers - General1.2%+0.5pp$8M
Country
US96.4%-1.0pp
GB1.2%+0.4pp
IE0.6%-0.1pp
NL0.6%
CH0.4%+0.1pp
Unknown0.2%-0.2pp
BR0.1%+0.0pp
PE0.1%
Top 5: 71.3% · Top 10: 80.4% · Top 25: 91.2%
Top buys this quarter · 15
| GS The Goldman Sachs Group, Inc. | +$16M |
| MS Morgan Stanleynew | +$4M |
| NFLX Netflix, Inc. | +$3M |
| LLY Eli Lilly and Companynew | +$3M |
| SLB SLB N.V.new | +$3M |
| AMD Advanced Micro Devices, Inc.new | +$2M |
| ARM Arm Holdings plc American Deponew | +$2M |
| ET Energy Transfer LP | +$1M |
| WES Western Midstream Partners, LPnew | +$1M |
| VZ Verizon Communications Inc.new | +$1M |
Top sells this quarter · 15
| SATS EchoStar Corporation | −$13M |
| INTC Intel Corporation | −$3M |
| PFE Pfizer Inc.exit | −$3M |
| NVDA NVIDIA Corporation | −$3M |
| BHF Brighthouse Financial, Inc. | −$2M |
| CI Cigna Corporation | −$1M |
| DELL Dell Technologies Inc. | −$5M |
| PBR Petróleo Brasileiro S.A. - Pe | −$1M |
| BBVA Banco Bilbao Vizcaya Argentari | −$0M |
| AMG Affiliated Managers Group, Incexit | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $674M | 109 | +16.31% | +17.59% | -1.28% | +0.04B |
| 2025-12-31 | $692M | 76 | +15.12% | +17.72% | -2.59% | +0.00B |
| 2025-09-30 | $704M | 75 | +16.38% | +17.52% | -1.14% | +0.04B |
| 2025-06-30 | $627M | 62 | +12.58% | +14.94% | -2.36% | -0.01B |
| 2025-03-31 | $520M | 63 | -5.90% | +8.30% | -14.21% | -0.01B |
| 2024-12-31 | $583M | 68 | +18.49% | +24.89% | -6.40% | -0.08B |
| 2024-09-30 | $670M | 81 | +34.82% | +36.04% | -1.21% | +0.01B |
| 2024-06-30 | $646M | 79 | +25.43% | +24.49% | +0.94% | +0.02B |
| 2024-03-31 | $612M | 76 | +49.07% | +29.62% | +19.45% | +0.03B |
| 2023-12-31 | $511M | 75 | +43.68% | +26.18% | +17.50% | +0.00B |
| 2023-09-30 | $453M | 65 | +33.63% | +21.57% | +12.07% | -0.00B |
| 2023-06-30 | $477M | 73 | +37.05% | +19.42% | +17.63% | -0.06B |
| 2023-03-31 | $441M | 73 | -2.28% | -7.82% | +5.53% | -0.01B |
| 2022-12-31 | $405M | 57 | -13.43% | -18.17% | +4.74% | -0.01B |
| 2022-09-30 | $396M | 64 | -8.20% | -15.51% | +7.31% | -0.00B |
| 2022-06-30 | $404M | 76 | -5.93% | -10.62% | +4.69% | -0.01B |