Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-6.59%
trims when stocks drop
when a holding falls −10%+
Middle response
-2.11%
baseline attrition
Rally response
-4.72%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| QQQInvesco QQQ Trust, Serie | $31M | 9.3% | — | 8.0 yr |
| IVViShares Core S&P 500 ETF | $29M | 8.9% | — | 6.3 yr |
| FDXFedEx Corporation | $25M | 7.4% | +49.3% | 8.5 yr |
| BRK-ABerkshire Hathaway Inc. | $20M | 6.1% | — | 8.5 yr |
| WESTWestrock Coffee Company, | $20M | 6.0% | -41.1% | 2.8 yr |
| IEFiShares 7-10 Year Treasu | $18M | 5.3% | — | 4.5 yr |
| JNKState Street SPDR Bloomb | $16M | 4.9% | — | 0.3 yr |
| AAPLApple Inc. | $16M | 4.8% | +14.7% | 8.5 yr |
| IEFAiShares Core MSCI EAFE E | $12M | 3.6% | — | 2.3 yr |
| VBVanguard Small-Cap ETF | $12M | 3.5% | — | 1.3 yr |
| IAUiShares Gold Trust | $10M | 3.1% | — | 4.5 yr |
| VOVanguard Mid-Cap ETF | $10M | 3.0% | — | 2.0 yr |
| AZOAutoZone, Inc. | $10M | 2.9% | -11.4% | 6.3 yr |
| NUKZRange Nuclear Renaissanc | $9M | 2.8% | — | 1.8 yr |
| SOXXiShares Semiconductor ET | $8M | 2.3% | — | 1.0 yr |
Portfolio composition (YoY)
Industry mix
Asset Management45.9%-4.0pp$152M
Asset Management - Bonds10.5%+6.9pp$35M
Integrated Freight & Logistics7.5%+1.7pp$25M
Insurance - Diversified6.3%-1.6pp$21M
Packaged Foods6.0%-5.8pp$20M
Consumer Electronics4.8%-0.3pp$16M
Specialty Retail3.2%-0.5pp$11M
Semiconductors3.1%$10M
Software - Infrastructure2.5%+0.5pp$8M
Discount Stores1.3%-0.1pp$4M
Country
US98.6%-0.5pp
CA1.2%+1.0pp
IL0.1%+0.0pp
MX0.1%+0.0pp
Top 5: 37.7% · Top 10: 59.8% · Top 25: 85.4%
Top buys this quarter · 15
| LULU Lululemon Athletica Inc. | +$3M |
| HBAN Huntington Bancshares Incorpor | +$2M |
| RTX RTX Corporationnew | +$2M |
| MRVL Marvell Technology, Inc.new | +$1M |
| AVGO Broadcom Inc.new | +$1M |
| NVDA NVIDIA Corporation | +$1M |
| VST Vistra Corp.new | +$1M |
| AMKR Amkor Technology, Inc.new | +$1M |
| KLAC KLA Corporationnew | +$1M |
| LRCX Lam Research Corporationnew | +$1M |
Top sells this quarter · 15
| CAT Caterpillar Inc. | −$15M |
| MU Micron Technology, Inc. | −$1M |
| VRT Vertiv Holdings Co | −$8M |
| HD The Home Depot, Inc. | −$3M |
| OKLO Oklo Inc.exit | −$2M |
| ARQT Arcutis Biotherapeutics, Inc.exit | −$1M |
| HWM Howmet Aerospace Inc.exit | −$1M |
| TSM Taiwan Semiconductor Manufactuexit | −$1M |
| INOD Innodata Inc.exit | −$1M |
| GS The Goldman Sachs Group, Inc. | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $332M | 95 | +22.52% | +17.59% | +4.93% | -0.05B |
| 2025-12-31 | $337M | 97 | +4.83% | +17.72% | -12.89% | +0.00B |
| 2025-09-30 | $324M | 91 | +5.90% | +17.52% | -11.62% | +0.02B |
| 2025-06-30 | $287M | 87 | -9.28% | +14.94% | -24.22% | -0.00B |
| 2025-03-31 | $291M | 88 | -5.91% | +8.30% | -14.21% | -0.02B |
| 2024-12-31 | $315M | 101 | +0.43% | +24.89% | -24.46% | +0.02B |
| 2024-09-30 | $283M | 76 | +5.08% | +36.04% | -30.96% | +0.02B |
| 2024-06-30 | $290M | 78 | +11.49% | +24.49% | -13.01% | +0.03B |
| 2024-03-31 | $250M | 62 | +17.73% | +29.62% | -11.90% | +0.03B |
| 2023-12-31 | $212M | 51 | +24.54% | +26.18% | -1.64% | -0.00B |
| 2023-09-30 | $196M | 52 | +22.06% | +21.57% | +0.49% | +0.04B |
| 2023-06-30 | $161M | 54 | +21.01% | +19.42% | +1.59% | -0.01B |
| 2023-03-31 | $155M | 55 | -0.59% | -7.82% | +7.23% | -0.01B |
| 2022-12-31 | $151M | 56 | -14.60% | -18.17% | +3.57% | -0.01B |
| 2022-09-30 | $156M | 62 | -10.60% | -15.51% | +4.91% | -0.00B |
| 2022-06-30 | $167M | 59 | -5.02% | -10.62% | +5.60% | -0.03B |