Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+3.95%
adds when stocks drop
when a holding falls −10%+
Middle response
-1.07%
baseline attrition
Rally response
-18.34%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| VWOVanguard FTSE Emerging M | $575M | 11.0% | — | 10.5 yr |
| AGGiShares Core U.S. Aggreg | $325M | 6.2% | — | 4.3 yr |
| NVDANVIDIA Corporation | $215M | 4.1% | +60.9% | 8.8 yr |
| AAPLApple Inc. | $190M | 3.6% | +14.7% | 10.5 yr |
| MSFTMicrosoft Corporation | $171M | 3.3% | -0.6% | 10.5 yr |
| VCSHVanguard Short-Term Corp | $142M | 2.7% | — | 0.5 yr |
| AMZNAmazon.com, Inc. | $121M | 2.3% | +9.5% | 10.5 yr |
| GOOGLAlphabet Inc. | $93M | 1.8% | — | 10.5 yr |
| VTOLBristow Group Inc. | $92M | 1.8% | +48.9% | 6.0 yr |
| GOOGAlphabet Inc. | $77M | 1.5% | +84.3% | 10.5 yr |
| USHYiShares Broad USD High Y | $72M | 1.4% | — | 0.5 yr |
| METAMeta Platforms, Inc. | $67M | 1.3% | -0.4% | 10.5 yr |
| BRK-BBerkshire Hathaway Inc. | $53M | 1.0% | — | 10.5 yr |
| UNHUnitedHealth Group Incor | $47M | 0.9% | -46.9% | 10.5 yr |
| LLYEli Lilly and Company | $42M | 0.8% | +12.2% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management17.5%-2.2pp$918M
Semiconductors7.8%+2.9pp$411M
Internet Content & Information4.6%+0.4pp$242M
Asset Management - Bonds4.1%$214M
Oil & Gas Exploration & Production4.0%+0.2pp$211M
Software - Infrastructure3.7%-0.5pp$194M
Consumer Electronics3.7%-0.2pp$193M
Medical - Healthcare Plans3.4%+0.8pp$177M
Oil & Gas Equipment & Services3.3%-0.0pp$175M
Drug Manufacturers - General3.1%-1.0pp$165M
Country
US96.3%+0.9pp
BM1.5%-0.4pp
Unknown0.7%+0.2pp
IE0.6%-0.4pp
GB0.4%-0.3pp
CA0.1%+0.1pp
NL0.1%+0.1pp
SG0.1%+0.1pp
Top 5: 28.2% · Top 10: 38.2% · Top 25: 50.2%
Top buys this quarter · 15
| NVDA NVIDIA Corporation | +$19M |
| HUM Humana Inc. | +$40M |
| ZTS Zoetis Inc. | +$11M |
| MOH Molina Healthcare, Inc. | +$9M |
| CDW CDW Corporation | +$8M |
| AVGO Broadcom Inc. | +$8M |
| NOW ServiceNow, Inc. | +$8M |
| VSAT Viasat, Inc. | +$7M |
| INTU Intuit Inc. | +$7M |
| NFLX Netflix, Inc. | +$7M |
Top sells this quarter · 15
| VTOL Bristow Group Inc. | −$38M |
| CENX Century Aluminum Company | −$17M |
| BMY Bristol-Myers Squibb Company | −$10M |
| DG Dollar General Corporation | −$9M |
| APA APA Corporation | −$20M |
| XOM Exxon Mobil Corporation | −$24M |
| FDX FedEx Corporation | −$8M |
| NUE Nucor Corporation | −$8M |
| FSLR First Solar, Inc. | −$7M |
| STLD Steel Dynamics, Inc. | −$7M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $5.24B | 621 | +20.66% | +17.59% | +3.07% | -0.02B |
| 2025-12-31 | $5.25B | 605 | +15.55% | +17.72% | -2.17% | -0.09B |
| 2025-09-30 | $5.14B | 605 | +11.41% | +17.52% | -6.11% | -0.48B |
| 2025-06-30 | $5.21B | 611 | +8.61% | +14.94% | -6.33% | -0.03B |
| 2025-03-31 | $4.89B | 595 | +2.27% | +8.30% | -6.04% | +0.08B |
| 2024-12-31 | $5.01B | 593 | +15.28% | +24.89% | -9.61% | -0.11B |
| 2024-09-30 | $5.11B | 588 | +27.48% | +36.04% | -8.56% | -0.01B |
| 2024-06-30 | $4.88B | 580 | +18.08% | +24.49% | -6.41% | +0.01B |
| 2024-03-31 | $4.81B | 583 | +27.37% | +29.62% | -2.26% | -0.28B |
| 2023-12-31 | $4.71B | 615 | +23.01% | +26.18% | -3.17% | -0.15B |
| 2023-09-30 | $4.38B | 615 | +22.15% | +21.57% | +0.58% | -0.30B |
| 2023-06-30 | $4.80B | 613 | +20.49% | +19.42% | +1.07% | -0.32B |
| 2023-03-31 | $4.70B | 621 | -5.42% | -7.82% | +2.40% | +0.02B |
| 2022-12-31 | $4.48B | 611 | +10.08% | +7.56% | +2.52% | -0.09B |
| 2022-09-30 | $4.14B | 621 | -3.92% | -4.93% | +1.01% | -0.09B |
| 2022-06-30 | $4.41B | 610 | -14.43% | -16.11% | +1.68% | +0.09B |