Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-1.25%
trims when stocks drop
when a holding falls −10%+
Middle response
-3.27%
baseline attrition
Rally response
+0.02%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| SCHXSchwab U.S. Large-Cap ET | $133M | 16.7% | — | 10.5 yr |
| DUHPDimensional - US High Pr | $75M | 9.4% | — | 3.0 yr |
| MFDXPIMCO RAFI Dynamic Multi | $67M | 8.4% | — | 2.8 yr |
| SCHFSchwab International Equ | $46M | 5.8% | — | 10.5 yr |
| DIHPDimensional - Internatio | $40M | 5.0% | — | 1.0 yr |
| SHViShares 0â1 Year Treas | $36M | 4.6% | — | 0.3 yr |
| VTIPVanguard Short-Term Infl | $35M | 4.4% | — | 3.8 yr |
| DFASDimensional - US Small C | $30M | 3.8% | — | 1.3 yr |
| FNDBSchwab Fundamental U.S. | $28M | 3.5% | — | 2.5 yr |
| SHYiShares 1-3 Year Treasur | $27M | 3.4% | — | 1.0 yr |
| FLQMFranklin U.S. Mid Cap Mu | $21M | 2.6% | — | 2.3 yr |
| AAPLApple Inc. | $20M | 2.5% | +14.7% | 8.3 yr |
| PULSPGIM Ultra Short Bond ET | $20M | 2.5% | — | 1.5 yr |
| FNDESchwab Fundamental Emerg | $17M | 2.2% | — | 2.8 yr |
| TCAFT. Rowe Price Capital Ap | $16M | 2.0% | — | 2.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management75.9%-18.2pp$604M
Asset Management - Bonds4.8%+4.5pp$38M
Asset Management - Leveraged4.4%-1.2pp$35M
Consumer Electronics2.5%$20M
Packaged Foods1.2%$9M
Semiconductors1.0%$8M
Furnishings, Fixtures & Appliances0.7%$6M
Aerospace & Defense0.7%$5M
Internet Content & Information0.6%$5M
Drug Manufacturers - General0.5%$4M
Country
US99.4%-0.6pp
CA0.1%
GB0.1%
NL0.1%
TW0.1%
Unknown0.0%
IE0.0%
JP0.0%
Top 5: 45.3% · Top 10: 65.0% · Top 25: 86.8%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Top buys this quarter · 15
| AZN AstraZeneca PLCnew | +$0M |
| AVGO Broadcom Inc. | +$0M |
| GOOG Alphabet Inc. | +$2M |
| TSM Taiwan Semiconductor Manufactu | +$0M |
| APH Amphenol Corporation | +$0M |
| MO Altria Group, Inc. | +$0M |
| TSLA Tesla, Inc. | +$1M |
| KGC Kinross Gold Corporation | +$0M |
| MU Micron Technology, Inc. | +$0M |
| NVS Novartis AG | +$0M |
Top sells this quarter · 15
| EA Electronic Arts Inc. | −$1M |
| XOM Exxon Mobil Corporation | −$1M |
| TMO Thermo Fisher Scientific Inc. | −$0M |
| WST West Pharmaceutical Services, exit | −$0M |
| TXN Texas Instruments Incorporated | −$0M |
| PPG PPG Industries, Inc. | −$0M |
| SPGI S&P Global Inc. | −$0M |
| TJX The TJX Companies, Inc. | −$0M |
| AAPL Apple Inc. | −$0M |
| INTU Intuit Inc. | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $797M | 1390 | -4.94% | -4.37% | -0.57% | +0.11B |
| 2025-12-31 | $724M | 1323 | +3.14% | +2.66% | +0.47% | +0.00B |
| 2025-09-30 | $701M | 1141 | +25.16% | +8.12% | +17.03% | +0.07B |
| 2025-06-30 | $505M | 35 | — | — | — | +0.11B |
| 2025-03-31 | $395M | 25 | -8.94% | -4.27% | -4.67% | +0.05B |
| 2024-12-31 | $377M | 31 | +83.76% | +2.49% | +81.27% | -0.31B |
| 2024-09-30 | $375M | 32 | — | — | — | +0.03B |
| 2024-06-30 | $341M | 35 | -1.30% | +4.38% | -5.68% | +0.01B |
| 2024-03-31 | $338M | 40 | -11.43% | +10.39% | -21.82% | +0.07B |
| 2023-12-31 | $304M | 36 | — | — | — | +0.08B |
| 2023-09-30 | $226M | 38 | +22.33% | +21.57% | +0.77% | -0.00B |
| 2023-06-30 | $236M | 40 | +13.29% | +19.42% | -6.13% | -0.06B |
| 2023-03-31 | $286M | 122 | -11.44% | -7.82% | -3.62% | -0.03B |
| 2022-12-31 | $285M | 133 | +9.86% | +7.56% | +2.30% | +0.02B |
| 2022-09-30 | $237M | 118 | -10.12% | -4.93% | -5.19% | +0.05B |
| 2022-06-30 | $212M | 121 | -18.55% | -16.11% | -2.44% | +0.00B |