Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-2.62%
trims when stocks drop
when a holding falls −10%+
Middle response
+2.80%
steady accumulation
Rally response
-0.17%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| VTVVanguard Value ETF | $70M | 4.4% | — | 9.3 yr |
| SCHGSchwab U.S. Large-Cap Gr | $62M | 3.9% | — | 10.8 yr |
| AAPLApple Inc. | $42M | 2.6% | +14.7% | 11.0 yr |
| RDVYFirst Trust Rising Divid | $39M | 2.4% | — | 9.5 yr |
| WCMIFirst Trust WCM Internat | $32M | 2.0% | — | 1.3 yr |
| FBNDFidelity Total Bond ETF | $27M | 1.7% | — | 2.8 yr |
| NVDANVIDIA Corporation | $25M | 1.6% | +60.9% | 9.8 yr |
| DIVIFranklin International C | $24M | 1.5% | — | 5.3 yr |
| VBVanguard Small-Cap ETF | $24M | 1.5% | — | 9.3 yr |
| SCHMSchwab U.S. Mid-Cap ETF | $24M | 1.5% | — | 10.5 yr |
| SPYState Street SPDR S&P 50 | $21M | 1.3% | +17.6% | 11.0 yr |
| JNJJohnson & Johnson | $20M | 1.3% | +51.5% | 11.3 yr |
| ITOTiShares Core S&P Total U | $20M | 1.3% | — | 6.8 yr |
| MSFTMicrosoft Corporation | $19M | 1.2% | -0.6% | 11.3 yr |
| QQQInvesco QQQ Trust, Serie | $18M | 1.1% | — | 6.3 yr |
Portfolio composition (YoY)
Industry mix
Asset Management55.4%+1.8pp$885M
Asset Management - Bonds4.8%+0.4pp$77M
Semiconductors4.1%+1.1pp$65M
Consumer Electronics2.6%-0.5pp$42M
Drug Manufacturers - General2.6%+0.5pp$41M
Asset Management - Income2.5%-0.4pp$40M
Agricultural - Machinery1.7%+0.2pp$28M
Internet Content & Information1.7%+0.4pp$27M
Software - Infrastructure1.7%-0.5pp$27M
Specialty Retail1.4%-0.4pp$23M
Country
US98.8%-0.1pp
CA0.3%+0.1pp
Unknown0.3%+0.1pp
GB0.2%+0.0pp
TW0.1%+0.0pp
SG0.0%
IE0.0%+0.0pp
UY0.0%-0.0pp
Top 5: 15.3% · Top 10: 23.1% · Top 25: 38.4%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| AVGO | $9M | +0.01B | 86.0% |
| NVDA | $13M | +0.01B | 60.9% |
| CAT | $6M | +0.01B | 117.8% |
| ADM | $12M | +0.01B | 56.8% |
| AAPL | $37M | +0.01B | 14.7% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| MSFT | $19M | -0.00B | -0.6% |
Top buys this quarter · 15
| LRCX Lam Research Corporationnew | +$1M |
| AZN AstraZeneca PLCnew | +$1M |
| NVDA NVIDIA Corporation | +$25M |
| META Meta Platforms, Inc. | +$7M |
| SPY State Street SPDR S&P 500 ETF | +$21M |
| MSFT Microsoft Corporation | +$19M |
| DPZ Domino's Pizza, Inc. | +$0M |
| AAPL Apple Inc. | +$42M |
| PRI Primerica, Inc.new | +$0M |
| APG APi Group Corporation | +$0M |
Top sells this quarter · 15
| STX Seagate Technology Holdings pl | −$2M |
| MOD Modine Manufacturing Company | −$2M |
| HBAN Huntington Bancshares Incorpor | −$1M |
| LITE Lumentum Holdings Inc. | −$0M |
| OXY Occidental Petroleum Corporati | −$2M |
| JPM JPMorgan Chase & Co. | −$1M |
| MTD Mettler-Toledo International Iexit | −$0M |
| GL Globe Life Inc.exit | −$0M |
| ARWR Arrowhead Pharmaceuticals, Incexit | −$0M |
| MKC McCormick & Company, Incorporaexit | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.60B | 720 | +23.28% | +17.59% | +5.69% | +0.02B |
| 2025-12-31 | $1.55B | 707 | +17.92% | +17.72% | +0.21% | +0.12B |
| 2025-09-30 | $1.40B | 705 | +17.16% | +17.52% | -0.36% | -0.03B |
| 2025-06-30 | $1.32B | 679 | +14.60% | +14.94% | -0.34% | +0.04B |
| 2025-03-31 | $1.17B | 622 | +7.75% | +8.30% | -0.56% | +0.10B |
| 2024-12-31 | $1.10B | 620 | +20.08% | +24.89% | -4.80% | -0.07B |
| 2024-09-30 | $1.15B | 626 | +28.76% | +36.04% | -7.28% | +0.01B |
| 2024-06-30 | $1.07B | 597 | +17.73% | +24.49% | -6.76% | +0.08B |
| 2024-03-31 | $974M | 576 | +21.51% | +29.62% | -8.12% | +0.26B |
| 2023-12-31 | $655M | 500 | +18.40% | +26.18% | -7.78% | -0.29B |
| 2023-09-30 | $866M | 567 | +16.83% | +21.57% | -4.74% | -0.04B |
| 2023-06-30 | $930M | 598 | +15.22% | +19.42% | -4.21% | -0.15B |
| 2023-03-31 | $1.02B | 551 | -7.13% | -7.82% | +0.69% | -0.07B |
| 2022-12-31 | $1.03B | 604 | -16.16% | -18.17% | +2.02% | +0.12B |
| 2022-09-30 | $843M | 583 | -13.57% | -15.51% | +1.94% | -0.12B |
| 2022-06-30 | $1.00B | 594 | -9.23% | -10.62% | +1.39% | -0.03B |