Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-4.01%
trims when stocks drop
when a holding falls −10%+
Middle response
-1.20%
baseline attrition
Rally response
-2.84%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| SPYState Street SPDR S&P 50 | $64M | 26.4% | +17.6% | 10.3 yr |
| IJHiShares Core S&P Mid-Cap | $26M | 10.8% | — | 10.3 yr |
| IVViShares Core S&P 500 ETF | $26M | 10.6% | — | 10.0 yr |
| IJRiShares Core S&P Small-C | $17M | 6.9% | — | 10.3 yr |
| EFAiShares MSCI EAFE ETF | $13M | 5.2% | — | 10.3 yr |
| QQQInvesco QQQ Trust, Serie | $12M | 5.0% | — | 7.8 yr |
| EEMiShares MSCI Emerging Ma | $11M | 4.6% | — | 7.8 yr |
| DGROiShares Core Dividend Gr | $8M | 3.2% | — | 3.8 yr |
| QLTYGMO U.S. Quality ETF | $7M | 3.0% | — | 2.3 yr |
| AGGiShares Core U.S. Aggreg | $7M | 3.0% | — | 6.0 yr |
| DVYiShares Select Dividend | $5M | 1.9% | — | 10.3 yr |
| IWOiShares Russell 2000 Gro | $4M | 1.6% | — | 3.0 yr |
| IEFAiShares Core MSCI EAFE E | $3M | 1.4% | — | 10.3 yr |
| VIGVanguard Dividend Apprec | $3M | 1.3% | — | 10.3 yr |
| VEAVanguard FTSE Developed | $3M | 1.3% | — | 10.3 yr |
Portfolio composition (YoY)
Industry mix
Asset Management94.3%-1.3pp$229M
Insurance - Diversified0.9%-0.7pp$2M
Biotechnology0.7%+0.4pp$2M
Drug Manufacturers - General0.5%$1M
REIT - Healthcare Facilities0.4%$1M
Asset Management - Global0.4%-0.0pp$1M
Specialty Retail0.3%$1M
Banks - Diversified0.3%+0.1pp$1M
Software - Infrastructure0.3%-0.1pp$1M
Apparel - Manufacturers0.2%$1M
Country
US99.4%-0.5pp
KR0.3%
CA0.1%
IE0.1%
GB0.1%-0.0pp
Top 5: 59.8% · Top 10: 78.6% · Top 25: 92.6%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| SPY | $55M | +0.01B | 17.6% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Top buys this quarter · 15
| SBRA Sabra Health Care REIT, Inc.new | +$1M |
| CPNG Coupang, Inc.new | +$1M |
| LQDA Liquidia Corporation | +$1M |
| UFI Unifi, Inc. | +$1M |
| SPY State Street SPDR S&P 500 ETF | +$64M |
| OKE ONEOK, Inc.new | +$0M |
| NKE NIKE, Inc. | +$1M |
| IBM International Business Machine | +$1M |
| GPN Global Payments Inc. | +$0M |
| LIN Linde plc | +$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $243M | 66 | +17.58% | +17.59% | -0.01% | +0.02B |
| 2025-12-31 | $234M | 53 | +17.62% | +17.72% | -0.10% | -0.01B |
| 2025-09-30 | $235M | 57 | +19.56% | +17.52% | +2.04% | -0.01B |
| 2025-06-30 | $225M | 57 | +17.47% | +14.94% | +2.53% | -0.00B |
| 2025-03-31 | $207M | 53 | +10.59% | +8.30% | +2.29% | -0.45B |
| 2024-12-31 | $689M | 125 | +26.55% | +24.89% | +1.66% | -0.06B |
| 2024-09-30 | $712M | 121 | +35.76% | +36.04% | -0.28% | -0.01B |
| 2024-06-30 | $684M | 114 | +20.46% | +24.49% | -4.03% | +0.06B |
| 2024-03-31 | $597M | 103 | +26.12% | +29.62% | -3.50% | -0.20B |
| 2023-12-31 | $730M | 100 | +23.67% | +26.18% | -2.51% | +0.09B |
| 2023-09-30 | $570M | 94 | +15.59% | +21.57% | -5.98% | +0.02B |
| 2023-06-30 | $585M | 99 | +16.41% | +19.42% | -3.01% | -0.05B |
| 2023-03-31 | $584M | 99 | -9.54% | -7.82% | -1.72% | -0.01B |
| 2022-12-31 | $552M | 93 | -19.48% | -18.17% | -1.31% | +0.05B |
| 2022-09-30 | $480M | 155 | -14.82% | -15.51% | +0.69% | -0.11B |
| 2022-06-30 | $618M | 100 | -9.73% | -10.62% | +0.89% | -0.02B |