Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+3.36%
adds when stocks drop
when a holding falls −10%+
Middle response
-1.10%
baseline attrition
Rally response
+2.03%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| AAPLApple Inc. | $9M | 3.1% | +14.7% | 6.5 yr |
| OUNZVanEck Merk Gold ETF | $8M | 2.8% | — | 5.0 yr |
| SPYState Street SPDR S&P 50 | $6M | 2.1% | +17.6% | 6.5 yr |
| GLDSPDR Gold Shares | $5M | 1.7% | — | 6.3 yr |
| DGROiShares Core Dividend Gr | $5M | 1.7% | — | 6.3 yr |
| IWYiShares Russell Top 200 | $5M | 1.6% | — | 5.8 yr |
| BRK-BBerkshire Hathaway Inc. | $4M | 1.5% | — | 6.5 yr |
| MSFTMicrosoft Corporation | $4M | 1.5% | -0.6% | 6.5 yr |
| RSPInvesco S&P 500 Equal We | $4M | 1.3% | — | 6.5 yr |
| EFAViShares MSCI EAFE Min Vo | $4M | 1.3% | — | 6.5 yr |
| ITOTiShares Core S&P Total U | $4M | 1.3% | — | 5.8 yr |
| IWRiShares Russell Mid-Cap | $4M | 1.3% | — | 6.5 yr |
| BACBank of America Corporat | $4M | 1.3% | +19.4% | 6.5 yr |
| AMLPAlerian MLP ETF | $3M | 1.2% | — | 6.0 yr |
| DFACDimensional - US Core Eq | $3M | 1.2% | — | 4.8 yr |
Portfolio composition (YoY)
Industry mix
Asset Management46.0%+4.6pp$129M
Asset Management - Income8.0%+0.4pp$22M
Oil & Gas Midstream3.5%+0.3pp$10M
Consumer Electronics3.1%-0.3pp$9M
Banks - Diversified2.9%+0.7pp$8M
Semiconductors2.3%+0.4pp$6M
Internet Content & Information2.2%-0.2pp$6M
Asset Management - Bonds2.2%-0.1pp$6M
Drug Manufacturers - General2.2%-0.2pp$6M
Software - Infrastructure1.8%-0.3pp$5M
Country
US94.1%+2.3pp
CA1.1%+0.1pp
Unknown1.0%-1.4pp
IE1.0%-0.0pp
GB0.8%+0.1pp
NO0.4%-0.0pp
SG0.4%-0.1pp
HK0.3%-0.3pp
Top 5: 11.4% · Top 10: 18.6% · Top 25: 35.4%
Top buys this quarter · 15
| ECCU Eagle Point Credit Company Inc | +$2M |
| GAM General American Investors Comnew | +$1M |
| HQH Abrdn Healthcare Investors | +$1M |
| MLCO Melco Resorts & Entertainment | +$1M |
| ANIP ANI Pharmaceuticals, Inc.new | +$1M |
| MRK Merck & Co., Inc. | +$1M |
| KRC Kilroy Realty Corporationnew | +$0M |
| SLB SLB N.V. | +$0M |
| MRP Millrose Properties, Inc.new | +$0M |
| OXLC Oxford Lane Capital Corp. | +$0M |
Top sells this quarter · 15
| AAPL Apple Inc. | −$1M |
| LYB LyondellBasell Industries N.V.exit | −$1M |
| JBLU JetBlue Airways Corporation | −$1M |
| MSFT Microsoft Corporation | −$1M |
| RDDT Reddit, Inc.exit | −$1M |
| META Meta Platforms, Inc. | −$0M |
| PBR Petróleo Brasileiro S.A. - Peexit | −$0M |
| PLTR Palantir Technologies Inc. | −$0M |
| ARE Alexandria Real Estate Equitieexit | −$0M |
| UBER Uber Technologies, Inc.exit | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $281M | 318 | +15.97% | +17.59% | -1.62% | +0.01B |
| 2025-12-31 | $281M | 311 | +16.88% | +17.72% | -0.84% | -0.01B |
| 2025-09-30 | $290M | 327 | +17.55% | +17.52% | +0.03% | +0.01B |
| 2025-06-30 | $260M | 294 | +15.44% | +14.94% | +0.50% | -0.01B |
| 2025-03-31 | $246M | 317 | +10.43% | +8.30% | +2.12% | +0.02B |
| 2024-12-31 | $233M | 293 | +19.31% | +24.89% | -5.58% | -0.00B |
| 2024-09-30 | $230M | 284 | +27.70% | +36.04% | -8.34% | +0.00B |
| 2024-06-30 | $214M | 274 | +16.62% | +24.49% | -7.87% | -0.00B |
| 2024-03-31 | $210M | 277 | +21.33% | +29.62% | -8.30% | -0.00B |
| 2023-12-31 | $198M | 271 | +20.12% | +26.18% | -6.06% | +0.01B |
| 2023-09-30 | $174M | 256 | +15.70% | +21.57% | -5.87% | -0.01B |
| 2023-06-30 | $184M | 272 | +12.14% | +19.42% | -7.29% | +0.01B |
| 2023-03-31 | $165M | 259 | -9.30% | -7.82% | -1.49% | +0.00B |
| 2022-12-31 | $157M | 246 | -17.62% | -18.17% | +0.56% | +0.01B |
| 2022-09-30 | $135M | 227 | -12.91% | -15.51% | +2.59% | +0.00B |
| 2022-06-30 | $141M | 225 | -7.58% | -10.62% | +3.04% | -0.02B |