Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+1.27%
adds when stocks drop
when a holding falls −10%+
Middle response
+1.73%
steady accumulation
Rally response
-1.01%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| BSJQInvesco BulletShares 202 | $75M | 10.6% | — | 2.0 yr |
| BSJRInvesco BulletShares 202 | $50M | 7.1% | — | 0.8 yr |
| GOOGAlphabet Inc. | $35M | 4.9% | +84.3% | 10.3 yr |
| AAPLApple Inc. | $31M | 4.5% | +14.7% | 10.3 yr |
| BRK-BBerkshire Hathaway Inc. | $24M | 3.4% | — | 10.3 yr |
| AMZNAmazon.com, Inc. | $23M | 3.3% | +9.5% | 9.5 yr |
| CVXChevron Corporation | $19M | 2.7% | +29.2% | 10.3 yr |
| JPMJPMorgan Chase & Co. | $17M | 2.4% | +21.8% | 10.3 yr |
| GOOGLAlphabet Inc. | $16M | 2.3% | — | 10.3 yr |
| ABBVAbbVie Inc. | $14M | 2.0% | +7.3% | 10.3 yr |
| METAMeta Platforms, Inc. | $14M | 2.0% | -0.4% | 10.3 yr |
| SHProShares - Short S&P500 | $13M | 1.9% | — | 1.0 yr |
| CYTKCytokinetics, Incorporat | $13M | 1.9% | +64.0% | 6.5 yr |
| MSFTMicrosoft Corporation | $13M | 1.8% | -0.6% | 9.8 yr |
| BXBlackstone Inc. | $13M | 1.8% | -14.9% | 6.8 yr |
Portfolio composition (YoY)
Industry mix
Asset Management - Bonds17.7%+2.0pp$125M
Asset Management11.3%-1.6pp$80M
Internet Content & Information9.7%+1.8pp$68M
Semiconductors5.3%+1.1pp$38M
Consumer Electronics4.5%+0.2pp$31M
Software - Infrastructure4.2%-0.0pp$30M
Drug Manufacturers - General3.6%+0.1pp$25M
Biotechnology3.4%+1.8pp$24M
Insurance - Diversified3.4%-1.3pp$24M
Specialty Retail3.3%+0.0pp$24M
Country
US98.2%-0.7pp
CH1.0%+0.1pp
CA0.5%+0.4pp
TW0.1%+0.0pp
GB0.1%
Unknown0.0%+0.0pp
CN0.0%
BM0.0%-0.0pp
Top 5: 30.5% · Top 10: 43.2% · Top 25: 65.4%
Top buys this quarter · 15
| AAPL Apple Inc. | +$3M |
| CRWD CrowdStrike Holdings, Inc. | +$2M |
| NFLX Netflix, Inc. | +$1M |
| BEN Franklin Resources, Inc.new | +$1M |
| XOM Exxon Mobil Corporation | +$1M |
| PANW Palo Alto Networks, Inc. | +$8M |
| HII Huntington Ingalls Industries,new | +$0M |
| MSFT Microsoft Corporation | +$13M |
| FIVN Five9, Inc. | +$0M |
| AMZN Amazon.com, Inc. | +$23M |
Top sells this quarter · 15
| MU Micron Technology, Inc. | −$5M |
| CVX Chevron Corporation | −$17M |
| NVS Novartis AG | −$3M |
| SRPT Sarepta Therapeutics, Inc.exit | −$3M |
| NKE NIKE, Inc.exit | −$2M |
| WYNN Wynn Resorts, Limitedexit | −$2M |
| CRDO Credo Technology Group Holdingexit | −$1M |
| FORM FormFactor, Inc. | −$2M |
| LRCX Lam Research Corporation | −$1M |
| PSX Phillips 66 | −$7M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $706M | 203 | +17.98% | +17.59% | +0.39% | +0.01B |
| 2025-12-31 | $730M | 204 | +16.55% | +17.72% | -1.17% | +0.00B |
| 2025-09-30 | $705M | 216 | +16.50% | +17.52% | -1.02% | +0.03B |
| 2025-06-30 | $615M | 200 | +11.20% | +14.94% | -3.75% | -0.01B |
| 2025-03-31 | $571M | 197 | +3.47% | +8.30% | -4.83% | +0.05B |
| 2024-12-31 | $552M | 196 | +17.88% | +24.89% | -7.00% | -0.02B |
| 2024-09-30 | $556M | 194 | +24.08% | +36.04% | -11.96% | -0.00B |
| 2024-06-30 | $532M | 188 | +17.97% | +24.49% | -6.52% | +0.00B |
| 2024-03-31 | $524M | 194 | +15.73% | +29.62% | -13.89% | +0.01B |
| 2023-12-31 | $472M | 183 | +9.37% | +26.18% | -16.81% | -0.00B |
| 2023-09-30 | $439M | 185 | -14.35% | +21.57% | -35.92% | +0.02B |
| 2023-06-30 | $422M | 189 | -23.50% | +19.42% | -42.93% | +0.00B |
| 2023-03-31 | $422M | 188 | -50.97% | -7.82% | -43.15% | -0.01B |
| 2022-12-31 | $423M | 191 | -54.15% | -18.17% | -35.98% | +0.07B |
| 2022-09-30 | $415M | 189 | -40.00% | -15.51% | -24.50% | +0.04B |
| 2022-06-30 | $424M | 186 | -32.17% | -10.62% | -21.55% | +0.11B |