Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+2.84%
adds when stocks drop
when a holding falls −10%+
Middle response
-0.76%
baseline attrition
Rally response
-0.71%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| IVViShares Core S&P 500 ETF | $88M | 5.1% | — | 10.5 yr |
| AAPLApple Inc. | $32M | 1.9% | +14.7% | 9.5 yr |
| QQQInvesco QQQ Trust, Serie | $32M | 1.8% | — | 7.0 yr |
| SPYState Street SPDR S&P 50 | $30M | 1.8% | +17.6% | 9.8 yr |
| SCHDSchwab U.S. Dividend Equ | $28M | 1.6% | — | 10.5 yr |
| LQDiShares iBoxx $ Investme | $27M | 1.6% | — | 10.5 yr |
| FTCSFirst Trust Capital Stre | $25M | 1.5% | — | 9.3 yr |
| NVDANVIDIA Corporation | $23M | 1.3% | +60.9% | 9.0 yr |
| VUGVanguard Growth ETF | $23M | 1.3% | — | 10.5 yr |
| IUSBiShares Core Universal U | $23M | 1.3% | — | 5.0 yr |
| MSFTMicrosoft Corporation | $22M | 1.3% | -0.6% | 9.8 yr |
| VEAVanguard FTSE Developed | $20M | 1.2% | — | 10.5 yr |
| IVEiShares S&P 500 Value ET | $20M | 1.2% | — | 9.8 yr |
| IVWiShares S&P 500 Growth E | $19M | 1.1% | — | 9.8 yr |
| IEMGiShares Core MSCI Emergi | $18M | 1.0% | — | 6.0 yr |
Portfolio composition (YoY)
Industry mix
Asset Management58.6%+0.7pp$1.01B
Asset Management - Bonds6.3%-1.0pp$108M
Drug Manufacturers - General3.3%+0.1pp$58M
Semiconductors2.5%+0.4pp$43M
Consumer Electronics1.9%-0.4pp$32M
Software - Infrastructure1.5%-0.3pp$27M
Asset Management - Income1.4%+0.4pp$25M
Oil & Gas Integrated1.4%+0.5pp$24M
Regulated Electric1.4%+0.3pp$24M
Telecommunications Services1.3%-0.1pp$23M
Country
US97.2%-0.8pp
Unknown1.0%+0.4pp
IE0.7%-0.3pp
CA0.4%+0.3pp
TW0.2%
GB0.2%+0.1pp
CH0.1%+0.1pp
JP0.1%-0.0pp
Top 5: 12.3% · Top 10: 19.3% · Top 25: 33.7%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| NVDA | $15M | +0.01B | 60.9% |
| JNJ | $12M | +0.01B | 51.5% |
| SPY | $26M | +0.00B | 17.6% |
| AAPL | $28M | +0.00B | 14.7% |
| CVX | $8M | +0.00B | 29.2% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| MSFT | $18M | -0.00B | -0.6% |
Top buys this quarter · 15
| ZM Zoom Communications, Inc.new | +$2M |
| MSFT Microsoft Corporation | +$22M |
| XOM Exxon Mobil Corporation | +$1M |
| COST Costco Wholesale Corporation | +$1M |
| BF-B Brown-Forman Corporation | +$1M |
| CEG Constellation Energy Corporati | +$1M |
| FDS FactSet Research Systems Inc. | +$1M |
| VZ Verizon Communications Inc. | +$1M |
| CVX Chevron Corporation | +$1M |
| V Visa Inc. | +$1M |
Top sells this quarter · 15
| MCK McKesson Corporation | −$11M |
| MU Micron Technology, Inc. | −$4M |
| MAR Marriott International, Inc. | −$1M |
| SPY State Street SPDR S&P 500 ETF | −$1M |
| FANG Diamondback Energy, Inc. | −$4M |
| GTLS Chart Industries, Inc.exit | −$1M |
| AMT American Tower Corporation | −$1M |
| CPRT Copart, Inc.exit | −$1M |
| UNH UnitedHealth Group Incorporate | −$1M |
| JNJ Johnson & Johnson | −$15M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.72B | 648 | +18.66% | +17.59% | +1.07% | +0.04B |
| 2025-12-31 | $1.66B | 579 | +16.40% | +17.72% | -1.32% | +0.09B |
| 2025-09-30 | $1.53B | 511 | +13.23% | +17.52% | -4.29% | +0.09B |
| 2025-06-30 | $1.32B | 475 | +13.12% | +14.94% | -1.82% | +0.03B |
| 2025-03-31 | $1.23B | 453 | +7.07% | +8.30% | -1.23% | -0.08B |
| 2024-12-31 | $1.32B | 460 | +11.83% | +24.89% | -13.05% | -0.09B |
| 2024-09-30 | $1.42B | 495 | +19.98% | +36.04% | -16.05% | -0.21B |
| 2024-06-30 | $1.50B | 565 | +11.80% | +24.49% | -12.69% | +0.05B |
| 2024-03-31 | $1.45B | 575 | +20.03% | +29.62% | -9.60% | +0.10B |
| 2023-12-31 | $1.31B | 537 | +20.71% | +26.18% | -5.46% | +0.09B |
| 2023-09-30 | $1.15B | 490 | +23.10% | +21.57% | +1.54% | -0.04B |
| 2023-06-30 | $1.18B | 499 | +12.70% | +19.42% | -6.73% | -0.02B |
| 2023-03-31 | $1.11B | 502 | -9.31% | -7.82% | -1.50% | +0.05B |
| 2022-12-31 | $1.02B | 474 | -16.77% | -18.17% | +1.40% | +0.01B |
| 2022-09-30 | $926M | 460 | -15.37% | -15.51% | +0.14% | +0.05B |
| 2022-06-30 | $952M | 480 | -7.89% | -10.62% | +2.73% | +0.02B |