Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-2.29%
trims when stocks drop
when a holding falls −10%+
Middle response
+1.29%
steady accumulation
Rally response
+4.37%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| VUGVanguard Growth ETF | $108M | 3.1% | — | 8.8 yr |
| VTVVanguard Value ETF | $89M | 2.5% | — | 8.8 yr |
| IVViShares Core S&P 500 ETF | $87M | 2.5% | — | 8.8 yr |
| QQQInvesco QQQ Trust, Serie | $75M | 2.1% | — | 7.3 yr |
| DYNFiShares U.S. Equity Fact | $73M | 2.1% | — | 2.3 yr |
| SPYState Street SPDR S&P 50 | $69M | 2.0% | +17.6% | 8.8 yr |
| VTIVanguard Total Stock Mar | $61M | 1.7% | — | 7.0 yr |
| AAPLApple Inc. | $60M | 1.7% | +14.7% | 9.0 yr |
| INMUiShares Intermediate Mun | $52M | 1.5% | — | 0.5 yr |
| TFIState Street SPDR Nuveen | $46M | 1.3% | — | 8.8 yr |
| AVLVAvantis U.S. Large Cap V | $46M | 1.3% | — | 1.0 yr |
| NVDANVIDIA Corporation | $41M | 1.2% | +60.9% | 9.0 yr |
| THROiShares U.S. Thematic Ro | $41M | 1.2% | — | 0.8 yr |
| CLOZEldridge BBB-B CLO ETF | $39M | 1.1% | — | 1.0 yr |
| VOVanguard Mid-Cap ETF | $37M | 1.0% | — | 8.8 yr |
Portfolio composition (YoY)
Industry mix
Asset Management62.5%-3.5pp$2.20B
Asset Management - Bonds3.9%-3.1pp$139M
Semiconductors2.6%+1.2pp$90M
Asset Management - Income2.3%-2.4pp$81M
Drug Manufacturers - General2.2%+1.4pp$78M
Consumer Electronics1.7%+0.2pp$60M
Internet Content & Information1.6%+0.6pp$57M
Software - Infrastructure1.4%+0.6pp$50M
Unknown1.4%+1.0pp$50M
Specialty Retail1.2%+0.1pp$43M
Country
US96.7%-1.3pp
Unknown1.4%+1.0pp
IE0.4%+0.1pp
CA0.3%+0.1pp
GB0.3%+0.1pp
CH0.1%-0.0pp
TW0.1%+0.1pp
BM0.1%+0.0pp
Top 5: 12.2% · Top 10: 20.4% · Top 25: 35.5%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| NVDA | $11M | +0.01B | 60.9% |
| AAPL | $23M | +0.00B | 14.7% |
| AMZN | $14M | +0.00B | 9.5% |
| SPY | $6M | +0.00B | 17.6% |
| MRK | $1M | +0.00B | 38.9% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| MSFT | $9M | -0.00B | -0.6% |
Top buys this quarter · 15
| OTF Blue Owl Technology Finance Conew | +$15M |
| SPY State Street SPDR S&P 500 ETF | +$13M |
| AMZN Amazon.com, Inc. | +$33M |
| PNC The PNC Financial Services Gro | +$6M |
| ETN Eaton Corporation plc | +$4M |
| CSX CSX Corporation | +$3M |
| LHX L3Harris Technologies, Inc. | +$3M |
| ITW Illinois Tool Works Inc. | +$3M |
| PROP Prairie Operating Co. | +$3M |
| BCSF Bain Capital Specialty Finance | +$3M |
Top sells this quarter · 15
| AAPL Apple Inc. | −$19M |
| NVDA NVIDIA Corporation | −$13M |
| NYT The New York Times Company | −$10M |
| ORLY O'Reilly Automotive, Inc. | −$5M |
| MA Mastercard Incorporated | −$5M |
| WMT Walmart Inc. | −$5M |
| TSM Taiwan Semiconductor Manufactu | −$4M |
| MSFT Microsoft Corporation | −$3M |
| GILD Gilead Sciences, Inc. | −$3M |
| RTX RTX Corporation | −$3M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $3.53B | 3685 | +16.29% | +17.59% | -1.30% | +0.17B |
| 2025-12-31 | $3.42B | 4047 | +14.12% | +17.72% | -3.60% | -3.72B |
| 2025-09-30 | $6.94B | 3592 | +11.56% | +17.52% | -5.96% | +4.68B |
| 2025-06-30 | $2.13B | 2964 | +13.33% | +14.94% | -1.61% | +0.44B |
| 2025-03-31 | $1.55B | 2649 | +4.62% | +8.30% | -3.68% | +0.03B |
| 2024-12-31 | $1.58B | 2408 | +15.80% | +24.89% | -9.09% | +0.46B |
| 2024-09-30 | $1.11B | 2608 | +29.53% | +36.04% | -6.51% | +0.01B |
| 2024-06-30 | $1.02B | 2532 | +13.16% | +24.49% | -11.33% | +0.07B |
| 2024-03-31 | $940M | 1307 | +20.61% | +29.62% | -9.01% | -0.01B |
| 2023-12-31 | $890M | 1327 | +21.57% | +26.18% | -4.61% | -0.01B |
| 2023-09-30 | $795M | 1312 | +12.59% | +21.57% | -8.97% | +0.06B |
| 2023-06-30 | $775M | 1266 | -7.23% | +19.42% | -26.66% | -0.02B |
| 2023-03-31 | $747M | 1265 | -48.57% | -7.82% | -40.75% | -0.02B |
| 2022-12-31 | $714M | 1266 | -54.26% | -18.17% | -36.09% | +0.06B |
| 2022-09-30 | $625M | 1202 | -51.27% | -15.51% | -35.76% | +0.12B |
| 2022-06-30 | $653M | 1150 | -36.84% | -10.62% | -26.22% | +0.21B |