Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+7.99%
adds when stocks drop
when a holding falls −10%+
Middle response
+2.57%
steady accumulation
Rally response
+8.35%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| IVViShares Core S&P 500 ETF | $2.78B | 3.0% | — | 10.5 yr |
| AAPLApple Inc. | $1.79B | 1.9% | +14.7% | 10.3 yr |
| NVDANVIDIA Corporation | $1.68B | 1.8% | +60.9% | 9.3 yr |
| VTVVanguard Value ETF | $1.52B | 1.6% | — | 10.5 yr |
| AGGiShares Core U.S. Aggreg | $1.51B | 1.6% | — | 10.5 yr |
| QQQInvesco QQQ Trust, Serie | $1.31B | 1.4% | — | 7.3 yr |
| VOOVanguard S&P 500 ETF | $1.20B | 1.3% | — | 10.5 yr |
| SPYState Street SPDR S&P 50 | $1.18B | 1.3% | +17.6% | 10.5 yr |
| VTIVanguard Total Stock Mar | $1.08B | 1.2% | — | 10.5 yr |
| MSFTMicrosoft Corporation | $1.07B | 1.1% | -0.6% | 10.5 yr |
| VONGVanguard Russell 1000 Gr | $1.04B | 1.1% | — | 5.5 yr |
| IEFAiShares Core MSCI EAFE E | $1.04B | 1.1% | — | 10.5 yr |
| VUGVanguard Growth ETF | $1.00B | 1.1% | — | 10.5 yr |
| AMZNAmazon.com, Inc. | $931M | 1.0% | +9.5% | 10.3 yr |
| CGDVCapital Group Dividend V | $781M | 0.8% | — | 3.8 yr |
Portfolio composition (YoY)
Industry mix
Asset Management61.1%+3.5pp$56.93B
Asset Management - Bonds5.3%-1.3pp$4.95B
Semiconductors3.7%+0.8pp$3.44B
Asset Management - Income2.0%-0.2pp$1.84B
Consumer Electronics1.9%-0.4pp$1.80B
Software - Infrastructure1.9%-0.4pp$1.73B
Internet Content & Information1.7%+0.3pp$1.57B
Drug Manufacturers - General1.5%-0.0pp$1.37B
Specialty Retail1.2%-0.2pp$1.14B
Unknown0.9%+0.5pp$849M
Country
US96.7%-0.7pp
Unknown0.9%+0.5pp
CA0.6%+0.1pp
GB0.4%+0.1pp
IE0.3%-0.1pp
TW0.3%+0.1pp
CH0.1%+0.0pp
NL0.1%+0.0pp
Top 5: 10.0% · Top 10: 16.2% · Top 25: 27.8%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| NVDA | $789M | +0.48B | 60.9% |
| AAPL | $1.20B | +0.18B | 14.7% |
| AVGO | $185M | +0.16B | 86.0% |
| SPY | $741M | +0.13B | 17.6% |
| AMZN | $592M | +0.06B | 9.5% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| MSFT | $776M | -0.00B | -0.6% |
Top buys this quarter · 15
| MSFT Microsoft Corporation | +$1.07B |
| AZN AstraZeneca PLCnew | +$44M |
| AMZN Amazon.com, Inc. | +$931M |
| AAPL Apple Inc. | +$1.79B |
| AVGO Broadcom Inc. | +$487M |
| MU Micron Technology, Inc. | +$16M |
| GOOG Alphabet Inc. | +$438M |
| LLY Eli Lilly and Company | +$318M |
| SMR NuScale Power Corporation | +$14M |
| NEE NextEra Energy, Inc. | +$13M |
Top sells this quarter · 15
| SPY State Street SPDR S&P 500 ETF | −$13M |
| MA Mastercard Incorporated | −$8M |
| ACM Aecom | −$8M |
| EXAS Exact Sciences Corporationexit | −$7M |
| DELL Dell Technologies Inc. | −$27M |
| AGX Argan, Inc.exit | −$6M |
| GPC Genuine Parts Company | −$5M |
| VST Vistra Corp. | −$5M |
| CRWV CoreWeave, Inc. Class A Common | −$5M |
| MMM 3M Company | −$5M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $93.23B | 4604 | +19.58% | +17.59% | +1.98% | +4.70B |
| 2025-12-31 | $90.80B | 4529 | +17.51% | +17.72% | -0.21% | +4.00B |
| 2025-09-30 | $85.43B | 4438 | +18.47% | +17.52% | +0.95% | +21.70B |
| 2025-06-30 | $58.80B | 3994 | +16.07% | +14.94% | +1.13% | +1.73B |
| 2025-03-31 | $51.25B | 3890 | +6.89% | +8.30% | -1.42% | +5.68B |
| 2024-12-31 | $47.55B | 3677 | +19.69% | +24.89% | -5.20% | +0.98B |
| 2024-09-30 | $45.46B | 3633 | +29.99% | +36.04% | -6.05% | -0.41B |
| 2024-06-30 | $43.19B | 3633 | +16.45% | +24.49% | -8.04% | -0.05B |
| 2024-03-31 | $42.17B | 3610 | +21.17% | +29.62% | -8.46% | +29.09B |
| 2023-12-31 | $12.19B | 2196 | +20.66% | +26.18% | -5.52% | -0.53B |
| 2023-09-30 | $11.43B | 2164 | +12.71% | +21.57% | -8.86% | +0.36B |
| 2023-06-30 | $11.64B | 2157 | +14.08% | +19.42% | -5.34% | -0.28B |
| 2023-03-31 | $11.17B | 2130 | -9.95% | -7.82% | -2.13% | -0.08B |
| 2022-12-31 | $10.53B | 2074 | -19.61% | -18.17% | -1.44% | +5.46B |
| 2022-09-30 | $4.88B | 1638 | -14.08% | -15.51% | +1.42% | -1.05B |
| 2022-06-30 | $6.17B | 1794 | -10.27% | -10.62% | +0.35% | +0.34B |