Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-14.22%
trims when stocks drop
when a holding falls −10%+
Middle response
-4.59%
baseline attrition
Rally response
-13.00%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| ITOTiShares Core S&P Total U | $118M | 11.9% | — | 5.3 yr |
| RSPInvesco S&P 500 Equal We | $90M | 9.1% | — | 1.8 yr |
| RCGERockCreek Global Equalit | $86M | 8.7% | — | 0.3 yr |
| ISHGiShares 1-3 Year Interna | $82M | 8.3% | — | 1.0 yr |
| GLDSPDR Gold Shares | $76M | 7.7% | — | 5.8 yr |
| CHHChoice Hotels Internatio | $69M | 7.0% | -21.5% | 4.5 yr |
| JPSTJPMorgan Ultra-Short Inc | $65M | 6.5% | — | 3.5 yr |
| AGGiShares Core U.S. Aggreg | $58M | 5.9% | — | 5.3 yr |
| IDEViShares Core MSCI Intern | $51M | 5.1% | — | 5.3 yr |
| TLTiShares 20+ Year Treasur | $44M | 4.5% | — | 1.5 yr |
| TIPiShares TIPS Bond ETF | $42M | 4.2% | — | 5.8 yr |
| RBILF/m Ultrashort Treasury | $31M | 3.2% | — | 0.3 yr |
| IEMGiShares Core MSCI Emergi | $28M | 2.9% | — | 7.0 yr |
| ESGUiShares ESG Aware MSCI U | $23M | 2.3% | — | 1.5 yr |
| IVViShares Core S&P 500 ETF | $22M | 2.2% | — | 6.3 yr |
Portfolio composition (YoY)
Industry mix
Asset Management76.0%+9.9pp$750M
Asset Management - Income9.7%-0.3pp$96M
Travel Lodging7.0%-1.4pp$69M
Asset Management - Bonds4.6%-7.9pp$45M
Software - Infrastructure0.4%+0.1pp$4M
Information Technology Services0.3%+0.2pp$3M
Software - Application0.3%-0.1pp$3M
Conglomerates0.2%-0.0pp$2M
Leisure0.2%-0.1pp$2M
Diversified Utilities0.2%$2M
Country
US99.2%-0.0pp
HK0.4%
IL0.2%
GB0.1%-0.4pp
Top 5: 45.7% · Top 10: 74.7% · Top 25: 97.1%
Top buys this quarter · 15
| SRE Sempranew | +$2M |
| FLYW Flywire Corporation | +$3M |
| LRN Stride, Inc.new | +$1M |
| XPOF Xponential Fitness, Inc. | +$1M |
| CSR Centerspace | +$1M |
| AVTR Avantor, Inc. | +$1M |
| GENI Genius Sports Limited | +$1M |
| PK Park Hotels & Resorts Inc.new | +$0M |
| TDOC Teladoc Health, Inc.new | +$0M |
| ACTU Actuate Therapeutics Inc | +$0M |
Top sells this quarter · 15
| GFF Griffon Corporation | −$7M |
| LEGH Legacy Housing Corporation | −$5M |
| CHH Choice Hotels International, I | −$66M |
| PAR PAR Technology Corporation | −$2M |
| PHIN PHINIA Inc. | −$1M |
| EQT EQT Corporationexit | −$1M |
| POWL Powell Industries, Inc. | −$1M |
| SN SharkNinja, Inc. | −$1M |
| CELH Celsius Holdings, Inc. | −$0M |
| EEFT Euronet Worldwide, Inc. | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $988M | 56 | -23.81% | +17.59% | -41.40% | +0.14B |
| 2025-12-31 | $885M | 48 | -26.05% | +17.72% | -43.77% | +0.01B |
| 2025-09-30 | $950M | 54 | -12.72% | +17.52% | -30.24% | +0.20B |
| 2025-06-30 | $852M | 52 | +8.20% | +14.94% | -6.74% | +0.03B |
| 2025-03-31 | $844M | 41 | +3.35% | +8.30% | -4.95% | -0.04B |
| 2024-12-31 | $951M | 44 | +24.21% | +24.89% | -0.67% | +0.00B |
| 2024-09-30 | $872M | 45 | +16.00% | +36.04% | -20.04% | +0.06B |
| 2024-06-30 | $749M | 72 | +5.87% | +24.49% | -18.62% | +0.01B |
| 2024-03-31 | $794M | 62 | +21.20% | +29.62% | -8.42% | +0.02B |
| 2023-12-31 | $693M | 61 | +13.81% | +26.18% | -12.36% | -0.10B |
| 2023-09-30 | $776M | 188 | +21.71% | +21.57% | +0.14% | +0.09B |
| 2023-06-30 | $690M | 173 | +23.28% | +19.42% | +3.85% | -0.13B |
| 2023-03-31 | $770M | 181 | -3.61% | -7.82% | +4.21% | -0.09B |
| 2022-12-31 | $818M | 162 | +8.75% | +7.56% | +1.19% | -0.01B |
| 2022-09-30 | $760M | 164 | +0.86% | -4.93% | +5.79% | -0.11B |
| 2022-06-30 | $861M | 163 | -16.32% | -16.11% | -0.21% | +0.25B |