Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-1.18%
trims when stocks drop
when a holding falls −10%+
Middle response
-3.73%
baseline attrition
Rally response
-0.37%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| IVViShares Core S&P 500 ETF | $414M | 45.1% | — | 10.5 yr |
| IEFAiShares Core MSCI EAFE E | $199M | 21.7% | — | 10.3 yr |
| IEMGiShares Core MSCI Emergi | $87M | 9.4% | — | 10.5 yr |
| IJHiShares Core S&P Mid-Cap | $62M | 6.8% | — | 10.5 yr |
| GSEWGoldman Sachs Equal Weig | $41M | 4.5% | — | 5.8 yr |
| MCDMcDonald's Corporation | $39M | 4.3% | +1.8% | 10.3 yr |
| VEUVanguard FTSE All-World | $22M | 2.4% | — | 8.5 yr |
| NVDANVIDIA Corporation | $9M | 1.0% | +60.9% | 6.0 yr |
| MATXMatson, Inc. | $6M | 0.7% | +29.5% | 10.5 yr |
| VONGVanguard Russell 1000 Gr | $5M | 0.6% | — | 2.3 yr |
| AAPLApple Inc. | $4M | 0.4% | +14.7% | 10.5 yr |
| MSFTMicrosoft Corporation | $4M | 0.4% | -0.6% | 10.5 yr |
| ACWIiShares MSCI ACWI ETF | $4M | 0.4% | — | 10.5 yr |
| JPMJPMorgan Chase & Co. | $3M | 0.3% | +21.8% | 10.5 yr |
| BRK-BBerkshire Hathaway Inc. | $2M | 0.2% | — | 6.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management91.2%+2.1pp$836M
Restaurants4.3%-1.3pp$39M
Semiconductors1.1%+0.3pp$11M
Marine Shipping0.7%+0.1pp$6M
Consumer Electronics0.4%-0.0pp$4M
Banks - Diversified0.4%-0.0pp$4M
Software - Infrastructure0.4%-0.1pp$4M
Insurance - Diversified0.2%+0.0pp$2M
Auto - Manufacturers0.1%+0.0pp$1M
Discount Stores0.1%-0.0pp$1M
Country
US99.8%+0.0pp
JP0.1%+0.0pp
CA0.0%+0.0pp
GB0.0%-0.0pp
TW0.0%+0.0pp
DK0.0%-0.0pp
Unknown0.0%-0.0pp
BR0.0%-0.0pp
Top 5: 87.6% · Top 10: 96.5% · Top 25: 99.0%
Top buys this quarter · 15
| SHOP Shopify Inc. | +$0M |
| TSLA Tesla, Inc. | +$0M |
| VIA Via Transportation, Inc.new | +$0M |
| COST Costco Wholesale Corporation | +$0M |
| JNJ Johnson & Johnson | +$0M |
| JPM JPMorgan Chase & Co. | +$3M |
| SPY State Street SPDR S&P 500 ETF | +$1M |
| IBM International Business Machine | +$0M |
| F-PD Ford Motor Company 6.500% Note | +$0M |
| XOM Exxon Mobil Corporation | +$0M |
Top sells this quarter · 15
| MCD McDonald's Corporation | −$2M |
| LLY Eli Lilly and Companyexit | −$1M |
| SBUX Starbucks Corporation | −$0M |
| MS Morgan Stanleyexit | −$0M |
| AAPL Apple Inc. | −$0M |
| BAC Bank of America Corporation | −$0M |
| HUBS HubSpot, Inc.exit | −$0M |
| SONY Sony Group Corporation | −$0M |
| MSFT Microsoft Corporation | −$0M |
| MMM 3M Companyexit | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $917M | 148 | +13.52% | +17.59% | -4.07% | -0.01B |
| 2025-12-31 | $922M | 170 | +12.73% | +17.72% | -4.98% | -0.02B |
| 2025-09-30 | $917M | 172 | +10.27% | +17.52% | -7.25% | -0.01B |
| 2025-06-30 | $869M | 173 | +13.13% | +14.94% | -1.81% | +0.04B |
| 2025-03-31 | $800M | 179 | +8.30% | +8.30% | -0.00% | -0.01B |
| 2024-12-31 | $813M | 233 | +10.90% | +24.89% | -13.99% | -0.02B |
| 2024-09-30 | $827M | 214 | +25.38% | +36.04% | -10.66% | -0.03B |
| 2024-06-30 | $784M | 212 | +7.95% | +24.49% | -16.54% | +0.02B |
| 2024-03-31 | $768M | 216 | +15.68% | +29.62% | -13.94% | +0.03B |
| 2023-12-31 | $720M | 216 | +19.50% | +26.18% | -6.68% | -0.02B |
| 2023-09-30 | $656M | 202 | +10.18% | +21.57% | -11.39% | +0.02B |
| 2023-06-30 | $670M | 198 | +7.65% | +19.42% | -11.78% | +0.02B |
| 2023-03-31 | $613M | 190 | -11.06% | -7.82% | -3.24% | -0.01B |
| 2022-12-31 | $595M | 192 | -19.56% | -18.17% | -1.39% | +0.03B |
| 2022-09-30 | $535M | 199 | -14.68% | -15.51% | +0.83% | -0.01B |
| 2022-06-30 | $589M | 205 | -6.83% | -10.62% | +3.79% | -0.01B |