Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+0.50%
adds when stocks drop
when a holding falls −10%+
Middle response
+2.54%
steady accumulation
Rally response
+2.37%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| VTVVanguard Value ETF | $471M | 9.9% | — | 10.5 yr |
| VUGVanguard Growth ETF | $431M | 9.0% | — | 10.5 yr |
| VBVanguard Small-Cap ETF | $295M | 6.2% | — | 10.5 yr |
| AVDEAvantis International Eq | $289M | 6.1% | — | 0.5 yr |
| AAPLApple Inc. | $227M | 4.8% | +14.7% | 10.5 yr |
| MSFTMicrosoft Corporation | $153M | 3.2% | -0.6% | 10.5 yr |
| NVDANVIDIA Corporation | $146M | 3.1% | +60.9% | 8.3 yr |
| IEFAiShares Core MSCI EAFE E | $139M | 2.9% | — | 9.5 yr |
| VTIVanguard Total Stock Mar | $109M | 2.3% | — | 10.5 yr |
| VEAVanguard FTSE Developed | $78M | 1.6% | — | 10.5 yr |
| IJRiShares Core S&P Small-C | $74M | 1.6% | — | 9.5 yr |
| AMZNAmazon.com, Inc. | $68M | 1.4% | +9.5% | 10.5 yr |
| IWFiShares Russell 1000 Gro | $59M | 1.2% | — | 10.5 yr |
| GOOGAlphabet Inc. | $58M | 1.2% | +84.3% | 10.5 yr |
| ITOTiShares Core S&P Total U | $56M | 1.2% | — | 8.8 yr |
Portfolio composition (YoY)
Industry mix
Asset Management68.3%+4.6pp$3.25B
Semiconductors5.0%+0.6pp$239M
Consumer Electronics4.8%-0.2pp$228M
Software - Infrastructure3.9%-0.5pp$184M
Internet Content & Information2.3%+0.4pp$111M
Specialty Retail1.5%-0.4pp$73M
Asset Management - Bonds1.1%-0.8pp$51M
Drug Manufacturers - General1.0%-0.2pp$49M
Auto - Manufacturers1.0%+0.1pp$47M
Banks - Diversified0.8%-0.2pp$38M
Country
US99.0%+0.2pp
GB0.2%-0.1pp
IE0.2%-0.1pp
CH0.1%-0.0pp
CA0.1%+0.0pp
TW0.1%+0.0pp
JP0.1%-0.0pp
SG0.1%+0.0pp
Top 5: 36.0% · Top 10: 49.1% · Top 25: 64.6%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| NVDA | $120M | +0.07B | 60.9% |
| AAPL | $199M | +0.03B | 14.7% |
| GOOG | $33M | +0.03B | 84.3% |
| AVGO | $20M | +0.02B | 86.0% |
| TSLA | $34M | +0.01B | 43.4% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| MSFT | $145M | -0.00B | -0.6% |
Top buys this quarter · 15
| WDC Western Digital Corporation | +$3M |
| SPY State Street SPDR S&P 500 ETF | +$2M |
| BE Bloom Energy Corporationnew | +$2M |
| AFL Aflac Incorporated | +$2M |
| ORCL Oracle Corporation | +$12M |
| RKLB Rocket Lab USA, Inc.new | +$1M |
| FIX Comfort Systems USA, Inc.new | +$1M |
| AZN AstraZeneca PLCnew | +$1M |
| MYRG MYR Group Inc.new | +$1M |
| WULF TeraWulf Inc.new | +$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $4.76B | 701 | +19.48% | +17.59% | +1.89% | +0.18B |
| 2025-12-31 | $4.90B | 700 | +15.68% | +17.72% | -2.03% | -0.07B |
| 2025-09-30 | $4.89B | 667 | +18.42% | +17.52% | +0.91% | -0.17B |
| 2025-06-30 | $4.58B | 646 | +13.18% | +14.94% | -1.76% | +0.05B |
| 2025-03-31 | $3.98B | 626 | +4.36% | +8.30% | -3.94% | +0.18B |
| 2024-12-31 | $4.20B | 620 | +22.05% | +24.89% | -2.84% | -0.01B |
| 2024-09-30 | $4.04B | 635 | +29.20% | +36.04% | -6.84% | +0.16B |
| 2024-06-30 | $3.69B | 616 | +16.62% | +24.49% | -7.87% | -0.23B |
| 2024-03-31 | $3.73B | 630 | +23.53% | +29.62% | -6.10% | +0.52B |
| 2023-12-31 | $3.03B | 556 | +29.21% | +26.18% | +3.04% | +0.12B |
| 2023-09-30 | $2.64B | 521 | +20.16% | +21.57% | -1.40% | +0.15B |
| 2023-06-30 | $2.62B | 521 | +22.17% | +19.42% | +2.75% | -0.01B |
| 2023-03-31 | $2.36B | 510 | -9.02% | -7.82% | -1.21% | +0.08B |
| 2022-12-31 | $2.06B | 492 | -21.59% | -18.17% | -3.42% | +0.21B |
| 2022-09-30 | $1.81B | 475 | -15.10% | -15.51% | +0.41% | +0.04B |
| 2022-06-30 | $1.83B | 484 | -11.77% | -10.62% | -1.15% | +0.11B |