Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+2.72%
adds when stocks drop
when a holding falls −10%+
Middle response
-4.86%
baseline attrition
Rally response
-3.24%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| VTIVanguard Total Stock Mar | $56M | 30.3% | — | 2.5 yr |
| VEAVanguard FTSE Developed | $18M | 9.6% | — | 2.5 yr |
| INTUIntuit Inc. | $18M | 9.5% | -29.3% | 2.3 yr |
| VOOVanguard S&P 500 ETF | $17M | 9.4% | — | 2.3 yr |
| PAYOPayoneer Global Inc. | $14M | 7.5% | -33.9% | 2.5 yr |
| VWOVanguard FTSE Emerging M | $9M | 4.9% | — | 2.5 yr |
| IAUiShares Gold Trust | $9M | 4.8% | — | 2.0 yr |
| SPDWState Street SPDR Portfo | $7M | 3.7% | — | 2.5 yr |
| VUGVanguard Growth ETF | $5M | 2.9% | — | 2.3 yr |
| RSPInvesco S&P 500 Equal We | $4M | 2.0% | — | 1.8 yr |
| TPYPTortoise North American | $3M | 1.6% | — | 1.0 yr |
| AAPLApple Inc. | $2M | 0.9% | +14.7% | 1.8 yr |
| MSFTMicrosoft Corporation | $1M | 0.8% | -0.6% | 2.5 yr |
| VVVanguard Large-Cap ETF | $1M | 0.8% | — | 2.5 yr |
| GOOGLAlphabet Inc. | $1M | 0.6% | — | 1.3 yr |
Portfolio composition (YoY)
Industry mix
Asset Management75.1%+11.3pp$140M
Software - Application9.8%-6.8pp$18M
Software - Infrastructure8.7%-4.7pp$16M
Internet Content & Information1.3%+0.6pp$2M
Consumer Electronics0.9%+0.1pp$2M
REIT - Specialty0.5%+0.5pp$1M
Banks - Diversified0.4%+0.1pp$1M
Drug Manufacturers - General0.3%+0.0pp$1M
Medical - Healthcare Plans0.3%-0.1pp$1M
Entertainment0.2%+0.1pp$0M
Country
US99.8%+1.3pp
CH0.2%+0.1pp
IE0.0%+0.0pp
Unknown0.0%-1.4pp
UY0.0%-0.0pp
CA0.0%-0.0pp
SG0.0%-0.0pp
Top 5: 66.2% · Top 10: 84.5% · Top 25: 94.3%
Top buys this quarter · 15
| MSFT Microsoft Corporation | +$1M |
| SPY State Street SPDR S&P 500 ETF | +$1M |
| JPM JPMorgan Chase & Co. | +$0M |
| CI Cigna Corporation | +$0M |
| DLR Digital Realty Trust, Inc. | +$0M |
| MSGS Madison Square Garden Sports C | +$0M |
| BK The Bank of New York Mellon Co | +$0M |
| XOM Exxon Mobil Corporation | +$0M |
| GLW Corning Incorporated | +$0M |
| EQIX Equinix, Inc. | +$0M |
Top sells this quarter · 15
| ISRG Intuitive Surgical, Inc.exit | −$19M |
| LNC Lincoln National Corporationexit | −$5M |
| IQV IQVIA Holdings Inc. | −$2M |
| MU Micron Technology, Inc.exit | −$1M |
| CMI Cummins Inc.exit | −$1M |
| MSCI MSCI Inc. | −$1M |
| NOW ServiceNow, Inc. | −$0M |
| CEG Constellation Energy Corporatiexit | −$0M |
| DG Dollar General Corporationexit | −$0M |
| CTAS Cintas Corporation | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $186M | 154 | -13.33% | +17.59% | -30.92% | +0.04B |
| 2025-12-31 | $178M | 196 | -8.41% | +17.72% | -26.13% | -0.04B |
| 2025-09-30 | $213M | 148 | +0.93% | +17.52% | -16.58% | +0.03B |
| 2025-06-30 | $203M | 142 | +13.74% | +14.94% | -1.20% | +0.00B |
| 2025-03-31 | $179M | 139 | +4.89% | +8.30% | -3.42% | +0.02B |
| 2024-12-31 | $187M | 133 | +23.05% | +24.89% | -1.84% | -0.02B |
| 2024-09-30 | $184M | 135 | +3.19% | +5.75% | -2.56% | +0.03B |
| 2024-06-30 | $151M | 34 | +4.04% | +4.38% | -0.33% | +0.02B |
| 2024-03-31 | $123M | 35 | +1.37% | +10.39% | -9.03% | -0.01B |
| 2023-12-31 | $130M | 38 | — | — | — | — |