Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-0.06%
trims when stocks drop
when a holding falls −10%+
Middle response
+0.28%
steady accumulation
Rally response
+0.17%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| SPYState Street SPDR S&P 50 | $80M | 8.5% | +17.6% | 10.5 yr |
| IJHiShares Core S&P Mid-Cap | $52M | 5.6% | — | 10.5 yr |
| SPTSState Street SPDR Portfo | $51M | 5.4% | — | 2.5 yr |
| VGSHVanguard Short-Term Trea | $51M | 5.4% | — | 5.5 yr |
| IVViShares Core S&P 500 ETF | $45M | 4.8% | — | 7.8 yr |
| MDYState Street SPDR S&P MI | $40M | 4.3% | — | 10.5 yr |
| SPTIState Street SPDR Portfo | $40M | 4.3% | — | 2.5 yr |
| VGITVanguard Intermediate-Te | $40M | 4.2% | — | 5.0 yr |
| IEFAiShares Core MSCI EAFE E | $32M | 3.4% | — | 2.5 yr |
| VWOVanguard FTSE Emerging M | $23M | 2.5% | — | 10.5 yr |
| EFAiShares MSCI EAFE ETF | $23M | 2.4% | — | 10.5 yr |
| VEAVanguard FTSE Developed | $21M | 2.2% | — | 7.3 yr |
| STIPiShares 0-5 Year TIPS Bo | $20M | 2.1% | — | 2.5 yr |
| VTIPVanguard Short-Term Infl | $19M | 2.1% | — | 6.5 yr |
| VSSVanguard FTSE All-World | $18M | 1.9% | — | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management60.3%+0.9pp$566M
Asset Management - Leveraged12.9%+0.9pp$121M
Asset Management - Bonds5.4%+0.1pp$51M
Software - Infrastructure4.0%-1.3pp$37M
Industrial - Machinery2.3%+0.1pp$22M
Drug Manufacturers - General1.4%+0.1pp$13M
Semiconductors1.4%+0.3pp$13M
Household & Personal Products1.3%-0.6pp$12M
Electrical Equipment & Parts1.3%+0.2pp$12M
Integrated Freight & Logistics1.1%+0.2pp$10M
Country
US96.4%+1.0pp
IL0.7%-0.5pp
UY0.7%-0.1pp
Unknown0.6%+0.3pp
IE0.5%+0.1pp
MX0.5%-0.0pp
CH0.3%-0.1pp
GB0.1%-0.9pp
Top 5: 29.7% · Top 10: 48.4% · Top 25: 74.5%
Top buys this quarter · 15
| CL Colgate-Palmolive Company | +$3M |
| PANW Palo Alto Networks, Inc. | +$1M |
| CHD Church & Dwight Co., Inc. | +$0M |
| CRWD CrowdStrike Holdings, Inc. | +$9M |
| MELI MercadoLibre, Inc. | +$6M |
| IBM International Business Machine | +$9M |
| T AT&T Inc.new | +$0M |
| MKC McCormick & Company, Incorpora | +$3M |
| XOM Exxon Mobil Corporation | +$0M |
| CHKP Check Point Software Technolog | +$6M |
Top sells this quarter · 15
| SPY State Street SPDR S&P 500 ETF | −$1M |
| IDXX IDEXX Laboratories, Inc. | −$1M |
| HSY The Hershey Company | −$6M |
| MSFT Microsoft Corporation | −$0M |
| ABBV AbbVie Inc.exit | −$0M |
| ABT Abbott Laboratoriesexit | −$0M |
| AVGO Broadcom Inc.exit | −$0M |
| FDX FedEx Corporation | −$9M |
| ROP Roper Technologies, Inc.exit | −$0M |
| DHR Danaher Corporationexit | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $938M | 146 | +13.51% | +17.59% | -4.08% | +0.04B |
| 2025-12-31 | $932M | 150 | +16.19% | +17.72% | -1.53% | +0.02B |
| 2025-09-30 | $896M | 146 | +13.43% | +17.52% | -4.09% | +0.01B |
| 2025-06-30 | $849M | 140 | +15.58% | +14.94% | +0.64% | -0.03B |
| 2025-03-31 | $794M | 130 | +4.79% | +8.30% | -3.51% | +0.01B |
| 2024-12-31 | $790M | 134 | +14.29% | +24.89% | -10.59% | +0.00B |
| 2024-09-30 | $796M | 135 | +28.09% | +36.04% | -7.95% | +0.01B |
| 2024-06-30 | $737M | 130 | +15.98% | +24.49% | -8.51% | -0.00B |
| 2024-03-31 | $734M | 134 | +24.30% | +29.62% | -5.32% | +0.02B |
| 2023-12-31 | $667M | 128 | +24.84% | +26.18% | -1.34% | +0.00B |
| 2023-09-30 | $597M | 119 | +22.62% | +21.57% | +1.06% | +0.01B |
| 2023-06-30 | $611M | 124 | +20.18% | +19.42% | +0.75% | -0.02B |
| 2023-03-31 | $584M | 132 | -4.43% | -7.82% | +3.39% | -0.00B |
| 2022-12-31 | $543M | 133 | -15.61% | -18.17% | +2.56% | -0.00B |
| 2022-09-30 | $500M | 131 | -14.06% | -15.51% | +1.45% | +0.01B |
| 2022-06-30 | $522M | 136 | -8.35% | -10.62% | +2.27% | +0.02B |