Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-4.59%
trims when stocks drop
when a holding falls −10%+
Middle response
-0.82%
baseline attrition
Rally response
-0.89%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| MSFTMicrosoft Corporation | $85M | 5.0% | -0.6% | 13.0 yr |
| AAPLApple Inc. | $65M | 3.8% | +14.7% | 12.3 yr |
| NVDANVIDIA Corporation | $42M | 2.4% | +60.9% | 8.5 yr |
| VUGVanguard Growth ETF | $38M | 2.2% | — | 13.0 yr |
| VTVVanguard Value ETF | $35M | 2.0% | — | 13.0 yr |
| QQQInvesco QQQ Trust, Serie | $34M | 2.0% | — | 7.5 yr |
| AVGOBroadcom Inc. | $30M | 1.8% | +86.0% | 7.5 yr |
| AMZNAmazon.com, Inc. | $30M | 1.7% | +9.5% | 13.3 yr |
| ITOTiShares Core S&P Total U | $27M | 1.6% | — | 7.8 yr |
| IWFiShares Russell 1000 Gro | $26M | 1.5% | — | 13.0 yr |
| XOMExxon Mobil Corporation | $22M | 1.3% | +47.6% | 13.0 yr |
| COSTCostco Wholesale Corpora | $21M | 1.2% | +5.9% | 13.0 yr |
| IVViShares Core S&P 500 ETF | $21M | 1.2% | — | 10.0 yr |
| BRK-BBerkshire Hathaway Inc. | $20M | 1.2% | — | 13.0 yr |
| TSLATesla, Inc. | $19M | 1.1% | +43.4% | 8.0 yr |
Portfolio composition (YoY)
Industry mix
Asset Management49.5%+2.3pp$845M
Semiconductors6.0%+1.4pp$103M
Software - Infrastructure5.5%-3.1pp$95M
Asset Management - Bonds4.0%+0.3pp$68M
Consumer Electronics3.9%-1.4pp$66M
Internet Content & Information2.7%+2.4pp$45M
Drug Manufacturers - General2.3%+0.5pp$39M
Specialty Retail2.0%-1.2pp$34M
Oil & Gas Integrated1.6%+1.1pp$28M
Aerospace & Defense1.4%+0.3pp$24M
Country
US96.6%-0.5pp
CA1.3%+0.1pp
TW0.5%
IE0.4%+0.0pp
GB0.3%+0.2pp
NL0.2%+0.1pp
UY0.2%-0.1pp
SG0.1%+0.1pp
Top 5: 15.5% · Top 10: 24.1% · Top 25: 38.6%
Top buys this quarter · 15
| PG The Procter & Gamble Company | +$6M |
| GOOG Alphabet Inc. | +$5M |
| AVGO Broadcom Inc. | +$3M |
| ADI Analog Devices, Inc. | +$2M |
| SATS EchoStar Corporationnew | +$2M |
| NVDA NVIDIA Corporation | +$42M |
| ROK Rockwell Automation, Inc. | +$2M |
| SYK Stryker Corporation | +$2M |
| MA Mastercard Incorporated | +$2M |
| CNI Canadian National Railway Compnew | +$1M |
Top sells this quarter · 15
| WAB Westinghouse Air Brake Technol | −$10M |
| MSFT Microsoft Corporation | −$5M |
| AMZN Amazon.com, Inc. | −$4M |
| GLDD Great Lakes Dredge & Dock Corpexit | −$4M |
| SHOP Shopify Inc.exit | −$4M |
| GS The Goldman Sachs Group, Inc. | −$4M |
| AVXL Anavex Life Sciences Corp.exit | −$3M |
| CRSP CRISPR Therapeutics AG | −$3M |
| FSLR First Solar, Inc. | −$2M |
| VRT Vertiv Holdings Co | −$7M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.71B | 615 | +25.84% | +17.59% | +8.25% | -0.01B |
| 2025-12-31 | $1.76B | 611 | +19.14% | +17.72% | +1.42% | -0.08B |
| 2025-09-30 | $1.81B | 632 | +22.44% | +17.52% | +4.92% | -0.05B |
| 2025-06-30 | $1.70B | 608 | +18.82% | +14.94% | +3.88% | +0.37B |
| 2025-03-31 | $1.14B | 497 | +6.86% | +8.30% | -1.44% | -0.33B |
| 2024-12-31 | $1.60B | 587 | +23.94% | +24.89% | -0.94% | -0.09B |
| 2024-09-30 | $1.62B | 619 | +34.23% | +36.04% | -1.80% | +1.26B |
| 2024-06-30 | $340M | 152 | +20.35% | +24.49% | -4.14% | -0.93B |
| 2024-03-31 | $1.22B | 552 | +26.05% | +29.62% | -3.57% | -0.09B |
| 2023-12-31 | $1.23B | 548 | +27.36% | +26.18% | +1.19% | +0.12B |
| 2023-09-30 | $983M | 497 | +19.63% | +21.57% | -1.94% | -0.17B |
| 2023-06-30 | $1.20B | 531 | +19.96% | +19.42% | +0.54% | +0.13B |
| 2023-03-31 | $980M | 477 | -9.17% | -7.82% | -1.35% | -0.22B |
| 2022-12-31 | $1.11B | 509 | -19.89% | -18.17% | -1.72% | +0.02B |
| 2022-09-30 | $1.03B | 479 | -15.94% | -15.51% | -0.43% | +0.01B |
| 2022-06-30 | $1.06B | 510 | -11.96% | -10.62% | -1.34% | +0.00B |