Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-5.91%
trims when stocks drop
when a holding falls −10%+
Middle response
+3.42%
steady accumulation
Rally response
+4.93%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| SPYState Street SPDR S&P 50 | $113M | 6.1% | +17.6% | 10.5 yr |
| VOOVanguard S&P 500 ETF | $104M | 5.6% | — | 9.5 yr |
| VTVVanguard Value ETF | $66M | 3.6% | — | 10.0 yr |
| DYNFiShares U.S. Equity Fact | $63M | 3.4% | — | 3.0 yr |
| SPLGSPDR Portfolio S&P 500 E | $54M | 2.9% | — | 6.5 yr |
| CSCOCisco Systems, Inc. | $38M | 2.1% | +28.1% | 10.5 yr |
| JPSTJPMorgan Ultra-Short Inc | $35M | 1.9% | — | 7.8 yr |
| EMREmerson Electric Co. | $34M | 1.9% | +21.5% | 10.0 yr |
| THROiShares U.S. Thematic Ro | $33M | 1.8% | — | 1.3 yr |
| SPABState Street SPDR Portfo | $30M | 1.6% | — | 3.5 yr |
| BAIiShares A.I. Innovation | $30M | 1.6% | — | 1.3 yr |
| BNDVanguard Total Bond Mark | $29M | 1.5% | — | 9.8 yr |
| FPEIFirst Trust Institutiona | $27M | 1.5% | — | 3.5 yr |
| WCMIFirst Trust WCM Internat | $26M | 1.4% | — | 1.0 yr |
| GOVTiShares U.S. Treasury Bo | $25M | 1.3% | — | 8.8 yr |
Portfolio composition (YoY)
Industry mix
Asset Management79.6%+31.2pp$1.47B
Asset Management - Bonds5.9%-0.5pp$109M
Asset Management - Income2.7%+1.0pp$50M
Communication Equipment2.2%+2.0pp$41M
Industrial - Machinery1.9%+1.1pp$36M
Information Technology Services1.1%+0.3pp$20M
Unknown1.0%+0.6pp$18M
Semiconductors0.5%-3.6pp$10M
Beverages - Non-Alcoholic0.5%+0.2pp$9M
Drug Manufacturers - General0.5%-1.8pp$9M
Country
US98.4%+1.5pp
Unknown1.0%+0.6pp
NL0.2%+0.2pp
GB0.2%-0.2pp
CA0.1%-0.3pp
BM0.1%+0.0pp
IT0.0%+0.0pp
CN0.0%-0.1pp
Top 5: 21.6% · Top 10: 30.9% · Top 25: 50.6%
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Top buys this quarter · 15
| AEP American Electric Power Compan | +$2M |
| PPG PPG Industries, Inc. | +$0M |
| NUVB Nuvation Bio Inc. | +$1M |
| CRL Charles River Laboratories Int | +$0M |
| APYX Apyx Medical Corporation | +$0M |
| TRAK ReposiTrak, Inc. | +$0M |
| OKUR OnKure Therapeutics, Inc.new | +$0M |
| SPWH Sportsman's Warehouse Holdings | +$0M |
| ZDGE Zedge, Inc. | +$0M |
| SLS.TO Solaris Resources Inc.new | +$0M |
Top sells this quarter · 15
| AAPL Apple Inc.exit | −$871M |
| NVDA NVIDIA Corporationexit | −$580M |
| MSFT Microsoft Corporationexit | −$560M |
| AMZN Amazon.com, Inc.exit | −$427M |
| JPM JPMorgan Chase & Co.exit | −$427M |
| WMT Walmart Inc.exit | −$365M |
| AVGO Broadcom Inc.exit | −$349M |
| XOM Exxon Mobil Corporationexit | −$306M |
| CVX Chevron Corporationexit | −$276M |
| META Meta Platforms, Inc.exit | −$238M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.85B | 363 | +22.53% | +17.59% | +4.94% | -25.33B |
| 2025-12-31 | $27.47B | 4144 | +18.68% | +17.72% | +0.96% | +5.17B |
| 2025-09-30 | $21.99B | 4089 | +20.31% | +17.52% | +2.79% | +0.86B |
| 2025-06-30 | $19.34B | 3975 | +16.92% | +14.94% | +1.98% | +0.54B |
| 2025-03-31 | $16.82B | 3947 | +7.95% | +8.30% | -0.36% | +0.94B |
| 2024-12-31 | $16.57B | 3882 | +21.41% | +24.89% | -3.48% | +0.78B |
| 2024-09-30 | $15.36B | 3790 | +29.87% | +36.04% | -6.16% | +0.81B |
| 2024-06-30 | $13.70B | 3773 | +17.89% | +24.49% | -6.61% | +1.90B |
| 2024-03-31 | $11.44B | 3815 | +21.90% | +29.62% | -7.72% | +0.11B |
| 2023-12-31 | $10.51B | 3741 | +20.05% | +26.18% | -6.13% | +0.52B |
| 2023-09-30 | $9.09B | 3447 | -2.67% | +21.57% | -24.24% | +0.57B |
| 2023-06-30 | $8.83B | 3473 | +22.07% | +19.42% | +2.65% | +0.32B |
| 2023-03-31 | $7.98B | 3408 | -25.91% | -7.82% | -18.09% | +4.25B |
| 2022-12-31 | $3.52B | 2803 | -33.43% | -18.17% | -15.25% | -1.91B |
| 2022-09-30 | $6.09B | 1515 | -17.07% | -15.51% | -1.56% | -0.94B |
| 2022-06-30 | $5.81B | 1530 | -31.02% | -10.62% | -20.39% | +2.09B |