Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-9.89%
trims when stocks drop
when a holding falls −10%+
Middle response
-0.76%
baseline attrition
Rally response
-0.27%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| VEAVanguard FTSE Developed | $54M | 7.8% | — | 3.3 yr |
| GLDMSPDR Gold MiniShares Tru | $41M | 6.0% | — | 4.3 yr |
| USFRWisdomTree Floating Rate | $41M | 5.9% | — | 4.3 yr |
| IEMGiShares Core MSCI Emergi | $33M | 4.8% | — | 1.8 yr |
| SPHQInvesco S&P 500 Quality | $31M | 4.5% | — | 3.8 yr |
| XMHQInvesco S&P MidCap Quali | $29M | 4.2% | — | 3.3 yr |
| IWFiShares Russell 1000 Gro | $28M | 4.0% | — | 10.5 yr |
| AVDEAvantis International Eq | $27M | 3.9% | — | 1.0 yr |
| DYNFiShares U.S. Equity Fact | $25M | 3.6% | — | 1.8 yr |
| JIREJPMorgan International R | $25M | 3.6% | — | 1.0 yr |
| GOOGLAlphabet Inc. | $23M | 3.4% | — | 10.5 yr |
| AAPLApple Inc. | $22M | 3.2% | +14.7% | 10.5 yr |
| MSFTMicrosoft Corporation | $17M | 2.4% | -0.6% | 10.5 yr |
| GOVTiShares U.S. Treasury Bo | $17M | 2.4% | — | 2.5 yr |
| NVDANVIDIA Corporation | $14M | 2.1% | +60.9% | 6.3 yr |
Portfolio composition (YoY)
Industry mix
Asset Management62.2%+2.8pp$429M
Internet Content & Information4.9%+1.5pp$34M
Semiconductors3.7%+1.0pp$26M
Software - Infrastructure3.4%-0.1pp$23M
Consumer Electronics3.2%-0.1pp$22M
Discount Stores2.6%-0.2pp$18M
Specialty Retail1.7%-0.7pp$12M
Drug Manufacturers - General1.6%+0.1pp$11M
Industrial - Machinery1.2%+0.1pp$8M
Oil & Gas Integrated1.2%+0.3pp$8M
Country
US98.8%+1.5pp
IE0.5%-1.1pp
NL0.4%
CA0.2%-0.9pp
LU0.1%
Top 5: 29.0% · Top 10: 48.3% · Top 25: 75.5%
Top buys this quarter · 15
| NFLX Netflix, Inc. | +$2M |
| CHD Church & Dwight Co., Inc.new | +$1M |
| ANET Arista Networks, Inc. | +$1M |
| CVX Chevron Corporation | +$0M |
| COF Capital One Financial Corporatnew | +$0M |
| APH Amphenol Corporation | +$0M |
| FTNT Fortinet, Inc. | +$0M |
| ETN Eaton Corporation plc | +$0M |
| OTF Blue Owl Technology Finance Conew | +$0M |
| NEE NextEra Energy, Inc. | +$0M |
Top sells this quarter · 15
| PGR The Progressive Corporation | −$4M |
| AON Aon plc | −$3M |
| WCN Waste Connections, Inc. | −$3M |
| V Visa Inc. | −$3M |
| AZO AutoZone, Inc. | −$3M |
| ITW Illinois Tool Works Inc. | −$1M |
| UBER Uber Technologies, Inc.exit | −$1M |
| INTU Intuit Inc.exit | −$1M |
| ADBE Adobe Inc.exit | −$1M |
| TDG TransDigm Group Incorporatedexit | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $689M | 145 | +9.81% | +17.59% | -7.78% | -0.02B |
| 2025-12-31 | $746M | 162 | +11.27% | +17.72% | -6.45% | +0.02B |
| 2025-09-30 | $728M | 143 | +13.07% | +17.52% | -4.44% | +0.01B |
| 2025-06-30 | $682M | 137 | +14.99% | +14.94% | +0.05% | -0.02B |
| 2025-03-31 | $648M | 135 | +7.47% | +8.30% | -0.84% | +0.02B |
| 2024-12-31 | $648M | 137 | +19.84% | +24.89% | -5.05% | -0.02B |
| 2024-09-30 | $662M | 139 | +32.25% | +36.04% | -3.79% | +0.03B |
| 2024-06-30 | $584M | 136 | +18.86% | +24.49% | -5.63% | +0.01B |
| 2024-03-31 | $569M | 142 | +26.53% | +29.62% | -3.09% | -0.00B |
| 2023-12-31 | $529M | 135 | +24.76% | +26.18% | -1.42% | -0.01B |
| 2023-09-30 | $479M | 121 | +18.17% | +21.57% | -3.40% | +0.00B |
| 2023-06-30 | $493M | 128 | +16.60% | +19.42% | -2.83% | -0.02B |
| 2023-03-31 | $470M | 124 | -6.34% | -7.82% | +1.48% | +0.02B |
| 2022-12-31 | $421M | 120 | -16.09% | -18.17% | +2.08% | +0.03B |
| 2022-09-30 | $372M | 121 | -11.90% | -15.51% | +3.61% | +0.01B |
| 2022-06-30 | $378M | 132 | -7.34% | -10.62% | +3.28% | -0.03B |