Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-10.32%
trims when stocks drop
when a holding falls −10%+
Middle response
-5.35%
baseline attrition
Rally response
+0.92%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| SPYGState Street SPDR Portfo | $626M | 7.0% | — | 8.0 yr |
| IDEViShares Core MSCI Intern | $340M | 3.8% | — | 5.0 yr |
| SPYVState Street SPDR Portfo | $302M | 3.4% | — | 7.8 yr |
| NVDANVIDIA Corporation | $254M | 2.8% | +60.9% | 7.0 yr |
| AAPLApple Inc. | $220M | 2.5% | +14.7% | 9.0 yr |
| SPDWState Street SPDR Portfo | $218M | 2.4% | — | 7.5 yr |
| SPEMState Street SPDR Portfo | $192M | 2.2% | — | 6.8 yr |
| BILState Street SPDR Bloomb | $192M | 2.2% | — | 5.5 yr |
| SPABState Street SPDR Portfo | $184M | 2.1% | — | 7.5 yr |
| MSFTMicrosoft Corporation | $163M | 1.8% | -0.6% | 9.3 yr |
| RSPInvesco S&P 500 Equal We | $151M | 1.7% | — | 7.5 yr |
| GOOGLAlphabet Inc. | $139M | 1.6% | — | 8.3 yr |
| MAGSRoundhill Investments - | $131M | 1.5% | — | 0.8 yr |
| USMViShares MSCI USA Min Vol | $121M | 1.4% | — | 6.5 yr |
| VIGVanguard Dividend Apprec | $94M | 1.1% | — | 4.3 yr |
Portfolio composition (YoY)
Industry mix
Asset Management42.3%-28.6pp$3.77B
Semiconductors6.5%+4.2pp$581M
Asset Management - Bonds5.8%+1.2pp$522M
Software - Infrastructure2.8%+1.2pp$250M
Internet Content & Information2.8%+2.0pp$246M
Drug Manufacturers - General2.5%+1.4pp$223M
Consumer Electronics2.5%+1.8pp$220M
Specialty Retail1.4%+0.7pp$129M
Aerospace & Defense1.4%+0.8pp$125M
Oil & Gas Integrated1.3%+0.9pp$116M
Country
US97.3%-1.0pp
IE0.7%+0.2pp
GB0.7%+0.2pp
Unknown0.3%+0.2pp
CH0.2%+0.1pp
BM0.2%+0.1pp
TW0.1%+0.0pp
NL0.1%+0.0pp
Top 5: 19.5% · Top 10: 30.2% · Top 25: 46.0%
Top buys this quarter · 15
| AAPL Apple Inc. | +$65M |
| NVDA NVIDIA Corporation | +$21M |
| META Meta Platforms, Inc. | +$15M |
| APD Air Products and Chemicals, In | +$14M |
| CASY Casey's General Stores, Inc. | +$13M |
| WWD Woodward, Inc. | +$11M |
| AMZN Amazon.com, Inc. | +$11M |
| AMD Advanced Micro Devices, Inc. | +$10M |
| MSFT Microsoft Corporation | +$163M |
| OVV Ovintiv Inc. | +$10M |
Top sells this quarter · 15
| AVGO Broadcom Inc. | −$23M |
| FIX Comfort Systems USA, Inc. | −$18M |
| CIEN Ciena Corporation | −$18M |
| TSM Taiwan Semiconductor Manufactu | −$15M |
| BAC Bank of America Corporation | −$14M |
| ALB Albemarle Corporation | −$14M |
| MU Micron Technology, Inc. | −$12M |
| ABBV AbbVie Inc. | −$11M |
| IMO Imperial Oil Limited | −$10M |
| AES The AES Corporation | −$7M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $8.92B | 1387 | +21.93% | +17.59% | +4.33% | +1.04B |
| 2025-12-31 | $7.89B | 1290 | +17.87% | +17.72% | +0.15% | +0.08B |
| 2025-09-30 | $7.61B | 1163 | +15.97% | +17.52% | -1.55% | +0.85B |
| 2025-06-30 | $6.31B | 1098 | +16.55% | +14.94% | +1.61% | +2.59B |
| 2025-03-31 | $3.36B | 854 | +6.06% | +8.30% | -2.25% | -0.01B |
| 2024-12-31 | $3.49B | 859 | +19.51% | +24.89% | -5.37% | -0.32B |
| 2024-09-30 | $3.77B | 828 | +31.73% | +36.04% | -4.31% | -0.12B |
| 2024-06-30 | $3.62B | 817 | +17.87% | +24.49% | -6.62% | -0.24B |
| 2024-03-31 | $3.81B | 805 | +24.34% | +29.62% | -5.28% | -0.10B |
| 2023-12-31 | $3.59B | 803 | +19.01% | +26.18% | -7.17% | -0.07B |
| 2023-09-30 | $3.29B | 783 | +16.26% | +21.57% | -5.31% | -0.06B |
| 2023-06-30 | $3.48B | 763 | +14.34% | +19.42% | -5.09% | -0.13B |
| 2023-03-31 | $3.38B | 757 | -5.06% | -7.82% | +2.75% | -0.25B |
| 2022-12-31 | $3.48B | 527 | -13.06% | -18.17% | +5.12% | -0.01B |
| 2022-09-30 | $3.22B | 478 | -11.20% | -15.51% | +4.30% | +0.29B |
| 2022-06-30 | $3.09B | 455 | -5.65% | -10.62% | +4.97% | -0.02B |