Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+2.25%
adds when stocks drop
when a holding falls −10%+
Middle response
+6.33%
steady accumulation
Rally response
+6.81%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| VTIVanguard Total Stock Mar | $2.73B | 11.9% | — | 10.3 yr |
| BNDVanguard Total Bond Mark | $1.78B | 7.8% | — | 10.3 yr |
| SPDWState Street SPDR Portfo | $1.35B | 5.9% | — | 8.0 yr |
| SPYGState Street SPDR Portfo | $1.22B | 5.3% | — | 7.5 yr |
| SPYVState Street SPDR Portfo | $1.12B | 4.9% | — | 7.5 yr |
| GOVTiShares U.S. Treasury Bo | $535M | 2.3% | — | 6.8 yr |
| AAPLApple Inc. | $483M | 2.1% | +14.7% | 10.3 yr |
| VOVanguard Mid-Cap ETF | $440M | 1.9% | — | 10.3 yr |
| SPEMState Street SPDR Portfo | $438M | 1.9% | — | 8.0 yr |
| MBBiShares MBS ETF | $316M | 1.4% | — | 8.8 yr |
| USIGiShares Broad USD Invest | $300M | 1.3% | — | 5.3 yr |
| DFACDimensional - US Core Eq | $300M | 1.3% | — | 5.0 yr |
| QLTYGMO U.S. Quality ETF | $299M | 1.3% | — | 2.3 yr |
| ITOTiShares Core S&P Total U | $278M | 1.2% | — | 10.3 yr |
| NVDANVIDIA Corporation | $261M | 1.1% | +60.9% | 10.3 yr |
Portfolio composition (YoY)
Industry mix
Asset Management63.0%-4.8pp$14.42B
Asset Management - Bonds11.5%-1.9pp$2.64B
Semiconductors2.8%+1.6pp$638M
Consumer Electronics2.1%+0.4pp$484M
Asset Management - Income1.8%+0.2pp$403M
Drug Manufacturers - General1.4%+0.5pp$331M
Software - Infrastructure1.2%+0.1pp$273M
Internet Content & Information1.1%+0.5pp$249M
Banks - Diversified0.9%+0.2pp$196M
Oil & Gas Integrated0.7%+0.2pp$163M
Country
US98.8%-0.3pp
IE0.3%+0.1pp
CA0.2%+0.1pp
Unknown0.2%+0.1pp
CH0.2%-0.0pp
GB0.1%-0.0pp
TW0.1%+0.0pp
SG0.1%+0.0pp
Top 5: 35.8% · Top 10: 45.5% · Top 25: 59.0%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| AVGO | $60M | +0.05B | 86.0% |
| NVDA | $72M | +0.04B | 60.9% |
| AAPL | $270M | +0.04B | 14.7% |
| JPM | $82M | +0.02B | 21.8% |
| SPY | $93M | +0.02B | 17.6% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| MSFT | $139M | -0.00B | -0.6% |
Top buys this quarter · 15
| PWR Quanta Services, Inc. | +$38M |
| NEE NextEra Energy, Inc. | +$14M |
| RTX RTX Corporation | +$13M |
| TRV The Travelers Companies, Inc. | +$12M |
| LRCX Lam Research Corporation | +$10M |
| AMAT Applied Materials, Inc. | +$10M |
| PLTR Palantir Technologies Inc. | +$9M |
| AAPL Apple Inc. | +$483M |
| TXN Texas Instruments Incorporated | +$7M |
| MRK Merck & Co., Inc. | +$6M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $22.87B | 5127 | +16.96% | +17.59% | -0.63% | +0.84B |
| 2025-12-31 | $22.43B | 4940 | +16.10% | +17.72% | -1.62% | +1.00B |
| 2025-09-30 | $21.06B | 4826 | +16.53% | +17.52% | -0.99% | +0.07B |
| 2025-06-30 | $19.34B | 4540 | +15.45% | +14.94% | +0.51% | +1.81B |
| 2025-03-31 | $16.26B | 4018 | +11.70% | +8.30% | +3.39% | -0.38B |
| 2024-12-31 | $17.07B | 3909 | +20.53% | +24.89% | -4.35% | +1.32B |
| 2024-09-30 | $15.42B | 3716 | +31.38% | +36.04% | -4.66% | -0.17B |
| 2024-06-30 | $14.50B | 3662 | +16.11% | +24.49% | -8.38% | +0.71B |
| 2024-03-31 | $13.22B | 3571 | +19.56% | +29.62% | -10.06% | +0.41B |
| 2023-12-31 | $12.18B | 3421 | +20.40% | +26.18% | -5.77% | +0.12B |
| 2023-09-30 | $10.82B | 3405 | +10.68% | +21.57% | -10.89% | +0.49B |
| 2023-06-30 | $10.87B | 3207 | +9.65% | +19.42% | -9.77% | +0.78B |
| 2023-03-31 | $9.39B | 3166 | -13.85% | -7.82% | -6.03% | +0.44B |
| 2022-12-31 | $8.45B | 2959 | -22.42% | -18.17% | -4.25% | +0.92B |
| 2022-09-30 | $7.35B | 2595 | -15.86% | -15.51% | -0.35% | +0.93B |
| 2022-06-30 | $6.82B | 2329 | -10.10% | -10.62% | +0.52% | +0.46B |