Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+5.56%
adds when stocks drop
when a holding falls −10%+
Middle response
+9.41%
steady accumulation
Rally response
+12.87%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| SPYState Street SPDR S&P 50 | $734M | 10.6% | +17.6% | 7.0 yr |
| BNDVanguard Total Bond Mark | $635M | 9.2% | — | 10.5 yr |
| IEFAiShares Core MSCI EAFE E | $424M | 6.1% | — | 10.3 yr |
| DFATDimensional - US Targete | $345M | 5.0% | — | 5.0 yr |
| IGSBiShares 1-5 Year Investm | $320M | 4.6% | — | 5.8 yr |
| DUHPDimensional - US High Pr | $288M | 4.2% | — | 3.3 yr |
| DFASDimensional - US Small C | $227M | 3.3% | — | 5.0 yr |
| VNQVanguard Real Estate ETF | $196M | 2.8% | — | 10.5 yr |
| AVDVAvantis International Sm | $165M | 2.4% | — | 5.5 yr |
| VGSHVanguard Short-Term Trea | $163M | 2.4% | — | 5.8 yr |
| DFACDimensional - US Core Eq | $163M | 2.4% | — | 5.0 yr |
| DCORDimensional - US Core Eq | $161M | 2.3% | — | 2.5 yr |
| GNRState Street SPDR S&P Gl | $158M | 2.3% | — | 10.5 yr |
| VWOVanguard FTSE Emerging M | $129M | 1.9% | — | 10.5 yr |
| IVViShares Core S&P 500 ETF | $128M | 1.9% | — | 10.3 yr |
Portfolio composition (YoY)
Industry mix
Asset Management69.3%-1.4pp$4.78B
Asset Management - Bonds16.2%-1.1pp$1.12B
Asset Management - Global2.7%+0.1pp$189M
Asset Management - Leveraged2.6%-0.2pp$178M
Consumer Electronics1.1%+0.3pp$77M
Semiconductors0.9%+0.4pp$61M
Asset Management - Income0.7%-0.1pp$47M
Software - Infrastructure0.6%+0.1pp$42M
Internet Content & Information0.5%+0.3pp$32M
Drug Manufacturers - General0.4%+0.2pp$30M
Country
US99.5%-0.3pp
CA0.1%+0.1pp
GB0.1%+0.1pp
IE0.1%-0.0pp
TW0.0%+0.0pp
NL0.0%+0.0pp
CH0.0%
JP0.0%
Top 5: 35.6% · Top 10: 50.7% · Top 25: 73.3%
Top buys this quarter · 15
| SPY State Street SPDR S&P 500 ETF | +$734M |
| AMZN Amazon.com, Inc. | +$3M |
| AAPL Apple Inc. | +$77M |
| MSFT Microsoft Corporation | +$31M |
| NVDA NVIDIA Corporation | +$34M |
| NFLX Netflix, Inc. | +$1M |
| HLT Hilton Worldwide Holdings Inc.new | +$1M |
| APO Apollo Global Management, Inc.new | +$1M |
| META Meta Platforms, Inc. | +$6M |
| WMT Walmart Inc. | +$1M |
Top sells this quarter · 15
| XOM Exxon Mobil Corporation | −$7M |
| PCAR PACCAR Inc | −$1M |
| UNH UnitedHealth Group Incorporate | −$0M |
| AON Aon plc | −$0M |
| WLDN Willdan Group, Inc.exit | −$0M |
| AIG American International Group, exit | −$0M |
| MFC Manulife Financial Corporationexit | −$0M |
| DHR Danaher Corporationexit | −$0M |
| JEF Jefferies Financial Group Inc.exit | −$0M |
| OTIS Otis Worldwide Corporationexit | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $6.90B | 570 | +18.62% | +17.59% | +1.03% | +0.50B |
| 2025-12-31 | $6.67B | 537 | +17.53% | +17.72% | -0.19% | +0.24B |
| 2025-09-30 | $6.27B | 494 | +17.83% | +17.52% | +0.31% | +0.07B |
| 2025-06-30 | $5.68B | 470 | +14.23% | +14.94% | -0.72% | +0.41B |
| 2025-03-31 | $4.78B | 380 | +8.47% | +8.30% | +0.17% | +0.60B |
| 2024-12-31 | $4.39B | 348 | +23.85% | +24.89% | -1.04% | +0.12B |
| 2024-09-30 | $4.16B | 325 | +34.36% | +36.04% | -1.68% | +0.35B |
| 2024-06-30 | $3.60B | 312 | +22.07% | +24.49% | -2.42% | +0.26B |
| 2024-03-31 | $3.19B | 312 | +26.68% | +29.62% | -2.94% | +0.05B |
| 2023-12-31 | $2.89B | 303 | +25.47% | +26.18% | -0.71% | +0.18B |
| 2023-09-30 | $2.44B | 261 | +19.51% | +21.57% | -2.05% | +0.18B |
| 2023-06-30 | $2.35B | 254 | +18.00% | +19.42% | -1.43% | +0.01B |
| 2023-03-31 | $2.15B | 252 | -7.67% | -7.82% | +0.15% | +0.08B |
| 2022-12-31 | $1.93B | 241 | -18.15% | -18.17% | +0.03% | +0.16B |
| 2022-09-30 | $1.67B | 228 | -14.29% | -15.51% | +1.21% | +0.15B |
| 2022-06-30 | $1.60B | 229 | -9.34% | -10.62% | +1.28% | -0.21B |