Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+1.24%
adds when stocks drop
when a holding falls −10%+
Middle response
-0.24%
baseline attrition
Rally response
+8.50%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| VTIVanguard Total Stock Mar | $1.22B | 6.9% | — | 9.8 yr |
| SFGVSequoia Global Value ETF | $1.04B | 5.9% | — | 1.3 yr |
| IXUSiShares Core MSCI Total | $524M | 3.0% | — | 9.8 yr |
| AAPLApple Inc. | $492M | 2.8% | +14.7% | 10.5 yr |
| NVDANVIDIA Corporation | $467M | 2.7% | +60.9% | 9.5 yr |
| VONGVanguard Russell 1000 Gr | $382M | 2.2% | — | 10.0 yr |
| DSTLDistillate U.S. Fundamen | $343M | 2.0% | — | 1.3 yr |
| DFAUDimensional - US Core Eq | $333M | 1.9% | — | 4.5 yr |
| MSFTMicrosoft Corporation | $308M | 1.8% | -0.6% | 10.5 yr |
| JPIEJPMorgan Income ETF | $294M | 1.7% | — | 2.0 yr |
| VCSHVanguard Short-Term Corp | $291M | 1.7% | — | 8.8 yr |
| PYLDPIMCO Multisector Bond A | $288M | 1.6% | — | 2.0 yr |
| BINCiShares Flexible Income | $283M | 1.6% | — | 2.0 yr |
| AMZNAmazon.com, Inc. | $233M | 1.3% | +9.5% | 10.3 yr |
| GOOGAlphabet Inc. | $216M | 1.2% | +84.3% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management50.8%-1.2pp$8.91B
Semiconductors4.8%+1.4pp$845M
Asset Management - Bonds4.6%-0.4pp$805M
Internet Content & Information2.9%+0.8pp$511M
Consumer Electronics2.8%+0.2pp$498M
Software - Infrastructure2.5%-0.4pp$434M
Asset Management - Income2.3%+0.7pp$400M
Drug Manufacturers - General1.9%-0.1pp$339M
Specialty Retail1.6%-0.2pp$282M
Aerospace & Defense1.6%+0.5pp$276M
Country
US96.5%-0.7pp
IE0.7%+0.2pp
CA0.7%+0.1pp
GB0.3%+0.1pp
Unknown0.3%+0.0pp
BM0.2%-0.1pp
TW0.2%+0.1pp
CH0.1%-0.0pp
Top 5: 21.3% · Top 10: 30.8% · Top 25: 48.4%
Top buys this quarter · 15
| GOOG Alphabet Inc. | +$33M |
| HON Honeywell International Inc. | +$19M |
| LHX L3Harris Technologies, Inc. | +$17M |
| TPL Texas Pacific Land Corporation | +$10M |
| NVDA NVIDIA Corporation | +$467M |
| COST Costco Wholesale Corporation | +$9M |
| META Meta Platforms, Inc. | +$151M |
| DD DuPont de Nemours, Inc. | +$6M |
| CRM Salesforce, Inc. | +$67M |
| HD The Home Depot, Inc. | +$5M |
Top sells this quarter · 15
| VICI VICI Properties Inc. | −$20M |
| NXPI NXP Semiconductors N.V. | −$19M |
| NSC Norfolk Southern Corporation | −$18M |
| ORCL Oracle Corporation | −$15M |
| AAPL Apple Inc. | −$14M |
| MSFT Microsoft Corporation | −$7M |
| PENN PENN Entertainment, Inc.exit | −$6M |
| JPM JPMorgan Chase & Co. | −$6M |
| AL Air Lease Corporation | −$5M |
| PANW Palo Alto Networks, Inc. | −$5M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $17.56B | 1878 | +19.03% | +17.59% | +1.44% | +0.59B |
| 2025-12-31 | $17.63B | 1878 | +18.60% | +17.72% | +0.88% | +1.08B |
| 2025-09-30 | $16.17B | 1697 | +18.33% | +17.52% | +0.81% | +0.59B |
| 2025-06-30 | $14.38B | 1550 | +16.03% | +14.94% | +1.09% | +0.16B |
| 2025-03-31 | $12.74B | 1348 | +6.90% | +8.30% | -1.40% | +2.82B |
| 2024-12-31 | $10.34B | 1331 | +19.00% | +24.89% | -5.89% | +0.83B |
| 2024-09-30 | $9.32B | 1270 | +32.87% | +36.04% | -3.17% | +0.51B |
| 2024-06-30 | $8.29B | 1198 | +18.83% | +24.49% | -5.67% | +0.05B |
| 2024-03-31 | $8.01B | 1142 | +23.07% | +29.62% | -6.56% | -0.57B |
| 2023-12-31 | $8.04B | 1185 | +23.26% | +26.18% | -2.92% | +1.56B |
| 2023-09-30 | $5.68B | 956 | +15.35% | +21.57% | -6.21% | +0.17B |
| 2023-06-30 | $5.81B | 961 | +16.36% | +19.42% | -3.07% | +1.04B |
| 2023-03-31 | $4.48B | 834 | -5.25% | -7.82% | +2.57% | +0.15B |
| 2022-12-31 | $4.05B | 803 | -15.47% | -18.17% | +2.70% | +0.69B |
| 2022-09-30 | $3.16B | 528 | -11.97% | -15.51% | +3.54% | -0.21B |
| 2022-06-30 | $3.52B | 590 | -7.59% | -10.62% | +3.03% | +0.06B |