Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-38.54%
trims when stocks drop
when a holding falls −10%+
Middle response
-26.61%
baseline attrition
Rally response
-13.85%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $40M | 4.6% | +60.9% | 2.0 yr |
| TDThe Toronto-Dominion Ban | $24M | 2.8% | +60.9% | 2.0 yr |
| RYRoyal Bank of Canada | $24M | 2.7% | +48.2% | 2.0 yr |
| GOVTiShares U.S. Treasury Bo | $21M | 2.4% | — | 2.0 yr |
| VZVerizon Communications I | $19M | 2.2% | +16.5% | 1.3 yr |
| CSCOCisco Systems, Inc. | $18M | 2.1% | +28.1% | 2.0 yr |
| AAPLApple Inc. | $17M | 1.9% | +14.7% | 2.0 yr |
| GILDGilead Sciences, Inc. | $17M | 1.9% | +27.7% | 1.8 yr |
| AGGiShares Core U.S. Aggreg | $17M | 1.9% | — | 2.0 yr |
| NTRNutrien Ltd. | $16M | 1.8% | +56.2% | 1.3 yr |
| AMGNAmgen Inc. | $16M | 1.8% | +16.5% | 1.8 yr |
| GLWCorning Incorporated | $16M | 1.8% | +201.5% | 1.3 yr |
| BMOBank of Montreal | $15M | 1.7% | +47.5% | 2.0 yr |
| AEMAgnico Eagle Mines Limit | $15M | 1.7% | +89.2% | 2.0 yr |
| JNJJohnson & Johnson | $14M | 1.6% | +51.5% | 2.0 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors12.4%+6.5pp$108M
Banks - Diversified10.4%+4.0pp$91M
Asset Management9.4%-0.3pp$82M
Drug Manufacturers - General7.2%+0.7pp$63M
Gold3.9%-0.8pp$34M
Hardware, Equipment & Parts3.4%+1.4pp$30M
Communication Equipment3.0%-1.3pp$27M
Computer Hardware2.7%+1.6pp$23M
Oil & Gas Integrated2.7%+0.5pp$23M
Telecommunications Services2.6%+0.5pp$22M
Country
US75.2%-2.4pp
CA20.7%+2.5pp
SG1.0%-0.4pp
GB1.0%+0.5pp
CH0.4%+0.3pp
IE0.4%+0.3pp
NL0.3%
Unknown0.2%-0.8pp
Top 5: 14.7% · Top 10: 24.4% · Top 25: 46.2%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| GLW | $10M | +0.02B | 201.5% |
| NVDA | $29M | +0.02B | 60.9% |
| AEM | $16M | +0.01B | 89.2% |
| RY | $17M | +0.01B | 48.2% |
| SU | $8M | +0.01B | 77.6% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| IBM | $18M | -0.00B | -0.1% |
Top buys this quarter · 15
| VZ Verizon Communications Inc. | +$16M |
| AMGN Amgen Inc. | +$15M |
| BMO Bank of Montreal | +$11M |
| SU Suncor Energy Inc. | +$10M |
| TD The Toronto-Dominion Bank | +$8M |
| MU Micron Technology, Inc. | +$6M |
| MRK Merck & Co., Inc. | +$6M |
| TGT Target Corporation | +$6M |
| CIEN Ciena Corporationnew | +$5M |
| MGA Magna International Inc. | +$5M |
Top sells this quarter · 15
| ABBV AbbVie Inc. | −$13M |
| JBL Jabil Inc. | −$11M |
| GLW Corning Incorporated | −$11M |
| STX Seagate Technology Holdings pl | −$10M |
| AVGO Broadcom Inc. | −$10M |
| SHOP Shopify Inc. | −$10M |
| LRCX Lam Research Corporation | −$9M |
| TEL TE Connectivity Ltd. | −$9M |
| STLD Steel Dynamics, Inc. | −$9M |
| AXP American Express Companyexit | −$8M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $872M | 188 | +42.62% | +17.59% | +25.03% | -0.02B |
| 2025-12-31 | $858M | 194 | +50.32% | +17.72% | +32.60% | -0.05B |
| 2025-09-30 | $862M | 200 | +74.28% | +26.58% | +47.70% | -0.03B |
| 2025-06-30 | $785M | 182 | +48.79% | +13.30% | +35.50% | +0.00B |
| 2025-03-31 | $689M | 181 | +10.03% | -4.27% | +14.30% | -0.15B |
| 2024-03-31 | $767M | 195 | +22.55% | +10.39% | +12.16% | -0.01B |
| 2023-09-30 | $632M | 177 | -2.78% | -3.22% | +0.44% | -0.02B |
| 2023-06-30 | $672M | 191 | — | — | — | — |