Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+0.62%
adds when stocks drop
when a holding falls −10%+
Middle response
-0.66%
baseline attrition
Rally response
+4.57%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| SPLGSPDR Portfolio S&P 500 E | $372M | 14.3% | — | 5.0 yr |
| SGOViShares 0-3 Month Treasu | $233M | 9.0% | — | 4.0 yr |
| IAUiShares Gold Trust | $138M | 5.3% | — | 5.0 yr |
| VTIVanguard Total Stock Mar | $111M | 4.3% | — | 10.3 yr |
| BKLCBNY Mellon US Large Cap | $78M | 3.0% | — | 2.0 yr |
| ACWXiShares MSCI ACWI ex U.S | $75M | 2.9% | — | 10.5 yr |
| IWViShares Russell 3000 ETF | $64M | 2.5% | — | 10.5 yr |
| AAPLApple Inc. | $64M | 2.5% | +14.7% | 10.5 yr |
| SHYiShares 1-3 Year Treasur | $63M | 2.4% | — | 4.5 yr |
| ITOTiShares Core S&P Total U | $54M | 2.1% | — | 5.8 yr |
| SOXXiShares Semiconductor ET | $48M | 1.8% | — | 3.5 yr |
| SPABState Street SPDR Portfo | $48M | 1.8% | — | 5.5 yr |
| NVDANVIDIA Corporation | $47M | 1.8% | +60.9% | 6.3 yr |
| SPTSState Street SPDR Portfo | $46M | 1.8% | — | 3.8 yr |
| PDBCInvesco Optimum Yield Di | $41M | 1.6% | — | 6.8 yr |
Portfolio composition (YoY)
Industry mix
Asset Management59.6%+1.6pp$1.55B
Asset Management - Bonds13.7%-3.0pp$356M
Semiconductors3.1%+0.6pp$81M
Consumer Electronics2.5%-0.2pp$64M
Internet Content & Information2.0%+0.6pp$53M
Software - Infrastructure2.0%+0.3pp$51M
Asset Management - Leveraged1.8%-1.5pp$46M
Oil & Gas Integrated1.7%+1.3pp$45M
Specialty Retail1.7%+0.5pp$45M
Financial - Credit Services1.7%+0.4pp$43M
Country
US97.9%+0.5pp
IE0.5%-1.1pp
CA0.3%+0.2pp
TW0.2%+0.1pp
Unknown0.2%+0.1pp
GB0.1%+0.1pp
AU0.1%
UY0.1%+0.1pp
Top 5: 35.9% · Top 10: 48.2% · Top 25: 70.1%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| NVDA | $26M | +0.02B | 60.9% |
| AAPL | $48M | +0.01B | 14.7% |
| SPY | $26M | +0.00B | 17.6% |
| AXP | $17M | +0.00B | 13.3% |
| AMZN | $18M | +0.00B | 9.5% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| MSFT | $22M | -0.00B | -0.6% |
Top buys this quarter · 15
| CVX Chevron Corporation | +$34M |
| MSFT Microsoft Corporation | +$37M |
| Z Zillow Group, Inc. Class Cnew | +$4M |
| MELI MercadoLibre, Inc. | +$3M |
| SOFI SoFi Technologies, Inc. | +$3M |
| AMZN Amazon.com, Inc. | +$32M |
| ULTA Ulta Beauty, Inc. | +$2M |
| IREN IREN Limited | +$2M |
| CPNG Coupang, Inc. | +$2M |
| JPM JPMorgan Chase & Co. | +$1M |
Top sells this quarter · 15
| PM Philip Morris International In | −$5M |
| UBER Uber Technologies, Inc. | −$4M |
| UPS United Parcel Service, Inc.exit | −$3M |
| AON Aon plc | −$2M |
| UNH UnitedHealth Group Incorporate | −$2M |
| KVUE Kenvue Inc.exit | −$2M |
| TWLO Twilio Inc. | −$2M |
| BKSY BlackSky Technology Inc.exit | −$2M |
| NVDA NVIDIA Corporation | −$1M |
| PG The Procter & Gamble Company | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $2.60B | 372 | +14.56% | +17.59% | -3.03% | +0.20B |
| 2025-12-31 | $2.55B | 345 | +15.57% | +17.72% | -2.15% | +0.22B |
| 2025-09-30 | $2.33B | 302 | +20.94% | +17.52% | +3.42% | +0.16B |
| 2025-06-30 | $2.00B | 287 | +18.74% | +14.94% | +3.80% | -0.05B |
| 2025-03-31 | $1.83B | 267 | +10.58% | +8.30% | +2.28% | +0.13B |
| 2024-12-31 | $1.79B | 257 | +27.36% | +24.89% | +2.47% | +0.06B |
| 2024-09-30 | $1.65B | 251 | +37.14% | +36.04% | +1.11% | +0.01B |
| 2024-06-30 | $1.54B | 240 | +22.75% | +24.49% | -1.74% | +0.05B |
| 2024-03-31 | $1.43B | 225 | +29.71% | +29.62% | +0.08% | -0.02B |
| 2023-12-31 | $1.32B | 199 | +30.98% | +26.18% | +4.80% | -0.06B |
| 2023-09-30 | $1.22B | 192 | +21.16% | +21.57% | -0.41% | +0.07B |
| 2023-06-30 | $1.21B | 192 | +23.50% | +19.42% | +4.07% | -0.00B |
| 2023-03-31 | $1.10B | 185 | -9.30% | -7.82% | -1.48% | +0.06B |
| 2022-12-31 | $937M | 170 | -21.60% | -18.17% | -3.43% | +0.11B |
| 2022-09-30 | $795M | 181 | -16.65% | -15.51% | -1.15% | +0.17B |
| 2022-06-30 | $641M | 178 | -13.63% | -10.62% | -3.01% | -0.04B |