Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-2.77%
trims when stocks drop
when a holding falls −10%+
Middle response
+3.33%
steady accumulation
Rally response
-1.66%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| IVViShares Core S&P 500 ETF | $1.53B | 22.2% | — | 5.3 yr |
| QLTYGMO U.S. Quality ETF | $499M | 7.2% | — | 2.3 yr |
| QQQInvesco QQQ Trust, Serie | $478M | 6.9% | — | 1.3 yr |
| IWMiShares Russell 2000 ETF | $462M | 6.7% | — | 0.5 yr |
| GOOGLAlphabet Inc. | $163M | 2.4% | — | 5.5 yr |
| MSFTMicrosoft Corporation | $161M | 2.3% | -0.6% | 5.5 yr |
| METAMeta Platforms, Inc. | $135M | 2.0% | -0.4% | 5.5 yr |
| SPYState Street SPDR S&P 50 | $118M | 1.7% | +17.6% | 9.3 yr |
| AAPLApple Inc. | $116M | 1.7% | +14.7% | 5.5 yr |
| JNJJohnson & Johnson | $100M | 1.4% | +51.5% | 5.5 yr |
| NVDANVIDIA Corporation | $94M | 1.4% | +60.9% | 5.5 yr |
| TLTiShares 20+ Year Treasur | $88M | 1.3% | — | 2.8 yr |
| AMZNAmazon.com, Inc. | $82M | 1.2% | +9.5% | 5.5 yr |
| AVGOBroadcom Inc. | $81M | 1.2% | +86.0% | 5.5 yr |
| SHYiShares 1-3 Year Treasur | $73M | 1.1% | — | 2.3 yr |
Portfolio composition (YoY)
Industry mix
Asset Management47.3%+0.3pp$3.25B
Semiconductors6.0%+2.3pp$411M
Internet Content & Information4.7%+2.1pp$326M
Drug Manufacturers - General3.9%+1.3pp$268M
Software - Infrastructure2.8%-1.6pp$194M
Banks - Diversified2.8%+0.5pp$190M
Asset Management - Bonds2.3%-2.0pp$161M
Specialty Retail2.1%-0.8pp$144M
Consumer Electronics1.7%+0.4pp$117M
Medical - Devices1.5%-0.4pp$105M
Country
US96.8%+0.6pp
TW0.8%
SG0.7%-1.0pp
CN0.5%+0.1pp
CA0.4%-0.1pp
IE0.2%+0.1pp
UY0.2%-0.3pp
GB0.1%
Top 5: 45.5% · Top 10: 54.7% · Top 25: 68.2%
Top buys this quarter · 15
| XOM Exxon Mobil Corporation | +$20M |
| JPM JPMorgan Chase & Co. | +$16M |
| ABT Abbott Laboratories | +$15M |
| RTX RTX Corporation | +$14M |
| GE GE Aerospace | +$14M |
| MU Micron Technology, Inc. | +$14M |
| HCA HCA Healthcare, Inc. | +$13M |
| MA Mastercard Incorporated | +$12M |
| CDNS Cadence Design Systems, Inc. | +$11M |
| JNJ Johnson & Johnson | +$10M |
Top sells this quarter · 15
| LRCX Lam Research Corporation | −$17M |
| HON Honeywell International Inc.exit | −$17M |
| WMT Walmart Inc. | −$14M |
| ICE Intercontinental Exchange, Inc | −$10M |
| TSM Taiwan Semiconductor Manufactu | −$9M |
| TXN Texas Instruments Incorporated | −$9M |
| CRM Salesforce, Inc. | −$9M |
| CME CME Group Inc. | −$9M |
| CAT Caterpillar Inc. | −$9M |
| FCX Freeport-McMoRan Inc. | −$9M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $6.88B | 325 | +15.60% | +17.59% | -1.99% | +0.50B |
| 2025-12-31 | $6.68B | 332 | +17.46% | +17.72% | -0.26% | +0.91B |
| 2025-09-30 | $5.66B | 398 | +17.18% | +17.52% | -0.34% | +0.77B |
| 2025-06-30 | $4.60B | 327 | +18.56% | +14.94% | +3.62% | +0.05B |
| 2025-03-31 | $4.07B | 318 | +7.46% | +8.30% | -0.84% | +0.06B |
| 2024-12-31 | $4.14B | 292 | +21.27% | +24.89% | -3.62% | +0.20B |
| 2024-09-30 | $3.87B | 281 | +31.84% | +36.04% | -4.20% | +0.20B |
| 2024-06-30 | $3.42B | 281 | +14.92% | +24.49% | -9.58% | +0.32B |
| 2024-03-31 | $3.06B | 285 | +13.40% | +29.62% | -16.23% | +0.40B |
| 2023-12-31 | $2.44B | 267 | +16.24% | +26.18% | -9.94% | +0.17B |
| 2023-09-30 | $2.05B | 266 | +14.28% | +21.57% | -7.29% | +0.11B |
| 2023-06-30 | $2.06B | 317 | +14.57% | +19.42% | -4.86% | +0.22B |
| 2023-03-31 | $1.84B | 393 | -4.05% | -7.82% | +3.77% | +0.00B |
| 2022-12-31 | $1.64B | 393 | -18.38% | -18.17% | -0.21% | -0.02B |
| 2022-09-30 | $1.53B | 408 | -16.62% | -15.51% | -1.11% | -0.22B |
| 2022-06-30 | $1.86B | 450 | -10.82% | -10.62% | -0.20% | -0.06B |