Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+2.38%
adds when stocks drop
when a holding falls −10%+
Middle response
+0.11%
steady accumulation
Rally response
-8.52%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| SPLGSPDR Portfolio S&P 500 E | $41M | 13.3% | — | 2.8 yr |
| SCHDSchwab U.S. Dividend Equ | $29M | 9.4% | — | 3.8 yr |
| DBEFXtrackers MSCI EAFE Hedg | $20M | 6.4% | — | 2.8 yr |
| MSFTMicrosoft Corporation | $17M | 5.5% | -0.6% | 6.8 yr |
| QQQInvesco QQQ Trust, Serie | $16M | 5.2% | — | 6.5 yr |
| AAPLApple Inc. | $13M | 4.1% | +14.7% | 6.8 yr |
| SPSMState Street SPDR Portfo | $12M | 3.9% | — | 2.8 yr |
| VUGVanguard Growth ETF | $12M | 3.9% | — | 4.5 yr |
| SPEMState Street SPDR Portfo | $8M | 2.5% | — | 4.0 yr |
| BRK-BBerkshire Hathaway Inc. | $7M | 2.4% | — | 6.8 yr |
| VEAVanguard FTSE Developed | $6M | 1.9% | — | 6.3 yr |
| VBVanguard Small-Cap ETF | $6M | 1.8% | — | 7.0 yr |
| VIGVanguard Dividend Apprec | $5M | 1.6% | — | 7.0 yr |
| XLKState Street Technology | $4M | 1.4% | — | 7.0 yr |
| SPDWState Street SPDR Portfo | $4M | 1.4% | — | 3.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management75.5%+2.7pp$233M
Software - Infrastructure5.5%-1.9pp$17M
Consumer Electronics4.1%-1.7pp$13M
Insurance - Diversified2.4%-1.4pp$7M
Asset Management - Income1.8%+0.9pp$5M
Semiconductors1.6%+0.3pp$5M
Unknown1.1%$3M
Discount Stores1.1%-0.1pp$3M
Specialty Retail1.1%+0.1pp$3M
Internet Content & Information0.7%+0.2pp$2M
Country
US98.8%-0.8pp
Unknown1.1%
IE0.2%-0.1pp
Top 5: 39.7% · Top 10: 56.4% · Top 25: 74.7%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| AAPL | $14M | +0.00B | 14.7% |
| NVDA | $2M | +0.00B | 60.9% |
| AMZN | $2M | +0.00B | 9.5% |
| COST | $2M | +0.00B | 5.9% |
| MSFT | $19M | -0.00B | -0.6% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| MSFT | $19M | -0.00B | -0.6% |
Top buys this quarter · 15
| AMZN Amazon.com, Inc. | +$0M |
| CVX Chevron Corporation | +$0M |
| AAPL Apple Inc. | +$13M |
| LLY Eli Lilly and Company | +$1M |
| AVGO Broadcom Inc. | +$1M |
| COST Costco Wholesale Corporation | +$0M |
| TSLA Tesla, Inc. | +$0M |
| VZ Verizon Communications Inc. | +$0M |
| MCD McDonald's Corporation | +$0M |
| JNJ Johnson & Johnson | +$0M |
Top sells this quarter · 15
| MSFT Microsoft Corporation | −$1M |
| UNH UnitedHealth Group Incorporateexit | −$0M |
| NVDA NVIDIA Corporation | −$0M |
| LOW Lowe's Companies, Inc.exit | −$0M |
| IQV IQVIA Holdings Inc.exit | −$0M |
| CRM Salesforce, Inc.exit | −$0M |
| FANG Diamondback Energy, Inc. | −$0M |
| TT Trane Technologies plc | −$0M |
| NFLX Netflix, Inc. | −$0M |
| SBUX Starbucks Corporation | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $309M | 130 | +11.37% | +17.59% | -6.22% | +0.04B |
| 2025-12-31 | $298M | 128 | +12.66% | +17.72% | -5.06% | -0.00B |
| 2025-09-30 | $302M | 143 | +16.71% | +17.52% | -0.81% | +0.01B |
| 2025-06-30 | $274M | 127 | +11.95% | +14.94% | -2.99% | -0.01B |
| 2025-03-31 | $251M | 111 | +4.77% | +8.30% | -3.54% | +0.01B |
| 2024-12-31 | $259M | 109 | +22.64% | +24.89% | -2.25% | -0.06B |
| 2024-09-30 | $307M | 144 | +33.94% | +36.04% | -2.10% | -0.07B |
| 2024-06-30 | $360M | 155 | +22.87% | +24.49% | -1.62% | -0.01B |
| 2024-03-31 | $348M | 158 | +29.87% | +29.62% | +0.25% | +0.01B |
| 2023-12-31 | $320M | 154 | +37.03% | +26.18% | +10.85% | +0.01B |
| 2023-09-30 | $270M | 146 | +24.23% | +21.57% | +2.66% | +0.01B |
| 2023-06-30 | $272M | 151 | +25.45% | +19.42% | +6.02% | -0.00B |
| 2023-03-31 | $245M | 159 | -6.81% | -7.82% | +1.01% | +0.01B |
| 2022-12-31 | $211M | 144 | -19.46% | -18.17% | -1.29% | +0.06B |
| 2022-09-30 | $148M | 122 | -12.99% | -15.51% | +2.52% | +0.05B |
| 2022-06-30 | $97M | 81 | -1.19% | -10.62% | +9.43% | +0.01B |