Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+1.41%
adds when stocks drop
when a holding falls −10%+
Middle response
+1.60%
steady accumulation
Rally response
+1.08%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| SDYState Street SPDR S&P Di | $415M | 13.8% | — | 10.5 yr |
| VIGVanguard Dividend Apprec | $290M | 9.6% | — | 10.5 yr |
| VTIVanguard Total Stock Mar | $168M | 5.6% | — | 10.5 yr |
| VYMVanguard High Dividend Y | $154M | 5.1% | — | 10.5 yr |
| GOOGLAlphabet Inc. | $148M | 4.9% | — | 10.5 yr |
| GOOGAlphabet Inc. | $140M | 4.6% | +84.3% | 10.5 yr |
| VOVanguard Mid-Cap ETF | $136M | 4.5% | — | 10.5 yr |
| AAPLApple Inc. | $116M | 3.8% | +14.7% | 10.5 yr |
| SPYState Street SPDR S&P 50 | $87M | 2.9% | +17.6% | 10.5 yr |
| VOOGVanguard S&P 500 Growth | $61M | 2.0% | — | 6.0 yr |
| VBVanguard Small-Cap ETF | $55M | 1.8% | — | 10.5 yr |
| DFATDimensional - US Targete | $51M | 1.7% | — | 5.0 yr |
| IJKiShares S&P Mid-Cap 400 | $50M | 1.7% | — | 10.5 yr |
| VXUSVanguard Total Internati | $45M | 1.5% | — | 10.5 yr |
| MSFTMicrosoft Corporation | $44M | 1.5% | -0.6% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management65.3%-2.5pp$1.97B
Internet Content & Information10.9%+1.7pp$327M
Consumer Electronics3.8%-0.2pp$116M
Software - Infrastructure1.8%-0.2pp$55M
Specialty Retail1.6%-0.1pp$50M
Drug Manufacturers - General1.6%+0.3pp$47M
Semiconductors1.6%+0.9pp$47M
Unknown1.4%+1.0pp$42M
Banks - Diversified0.9%-0.1pp$26M
Asset Management - Income0.7%-0.2pp$22M
Country
US98.0%-0.9pp
Unknown1.4%+1.0pp
CH0.1%-0.0pp
GB0.1%-0.0pp
CA0.1%-0.0pp
IE0.1%-0.0pp
TW0.0%+0.0pp
FR0.0%+0.0pp
Top 5: 39.0% · Top 10: 56.9% · Top 25: 74.2%
Top buys this quarter · 15
| AAPL Apple Inc. | +$116M |
| IBM International Business Machine | +$6M |
| AZN AstraZeneca PLCnew | +$0M |
| LLY Eli Lilly and Company | +$11M |
| MRK Merck & Co., Inc. | +$0M |
| TMUS T-Mobile US, Inc. | +$0M |
| NEE NextEra Energy, Inc. | +$0M |
| AMD Advanced Micro Devices, Inc. | +$0M |
| MSFT Microsoft Corporation | +$44M |
| AMZN Amazon.com, Inc. | +$38M |
Top sells this quarter · 15
| IAC IAC InterActive Corp. | −$3M |
| ROST Ross Stores, Inc. | −$1M |
| EL The Estée Lauder Companies In | −$1M |
| META Meta Platforms, Inc. | −$1M |
| PANW Palo Alto Networks, Inc.exit | −$0M |
| SPY State Street SPDR S&P 500 ETF | −$0M |
| DIBS 1stdibs.Com, Inc. | −$0M |
| KIM Kimco Realty Corporationexit | −$0M |
| SHOP Shopify Inc.exit | −$0M |
| WMG Warner Music Group Corp. | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $3.01B | 451 | +21.53% | +17.59% | +3.94% | +0.16B |
| 2025-12-31 | $3.03B | 457 | +20.41% | +17.72% | +2.69% | +0.09B |
| 2025-09-30 | $2.77B | 444 | +19.40% | +17.52% | +1.88% | +0.02B |
| 2025-06-30 | $2.46B | 417 | +11.61% | +14.94% | -3.33% | +0.06B |
| 2025-03-31 | $2.20B | 397 | +8.76% | +8.30% | +0.45% | +0.13B |
| 2024-12-31 | $2.22B | 376 | +24.34% | +24.89% | -0.55% | +0.02B |
| 2024-09-30 | $2.10B | 368 | +31.98% | +36.04% | -4.05% | +0.11B |
| 2024-06-30 | $1.90B | 348 | +22.22% | +24.49% | -2.27% | -0.03B |
| 2024-03-31 | $1.82B | 333 | +25.86% | +29.62% | -3.77% | +0.08B |
| 2023-12-31 | $1.63B | 310 | +28.15% | +26.18% | +1.97% | +0.00B |
| 2023-09-30 | $1.46B | 304 | +20.07% | +21.57% | -1.50% | +0.02B |
| 2023-06-30 | $1.49B | 320 | +17.61% | +19.42% | -1.82% | -0.03B |
| 2023-03-31 | $1.39B | 325 | -12.37% | -7.82% | -4.55% | -0.02B |
| 2022-12-31 | $1.30B | 322 | -23.13% | -18.17% | -4.96% | +0.09B |
| 2022-09-30 | $1.16B | 298 | -18.27% | -15.51% | -2.76% | +0.03B |
| 2022-06-30 | $1.19B | 296 | -13.30% | -10.62% | -2.68% | +0.08B |