Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-20.49%
trims when stocks drop
when a holding falls −10%+
Middle response
-6.97%
baseline attrition
Rally response
-17.23%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| IVViShares Core S&P 500 ETF | $537M | 20.2% | — | 8.5 yr |
| VGSHVanguard Short-Term Trea | $171M | 6.4% | — | 8.0 yr |
| IEMGiShares Core MSCI Emergi | $153M | 5.7% | — | 8.5 yr |
| HEFAiShares Currency Hedged | $152M | 5.7% | — | 8.5 yr |
| VTVVanguard Value ETF | $126M | 4.7% | — | 8.5 yr |
| STIPiShares 0-5 Year TIPS Bo | $102M | 3.8% | — | 4.0 yr |
| VOOVanguard S&P 500 ETF | $97M | 3.7% | — | 6.3 yr |
| IEFAiShares Core MSCI EAFE E | $83M | 3.1% | — | 6.8 yr |
| EMXCiShares MSCI Emerging Ma | $80M | 3.0% | — | 3.8 yr |
| ITOTiShares Core S&P Total U | $69M | 2.6% | — | 5.3 yr |
| VTVanguard Total World Sto | $68M | 2.6% | — | 8.5 yr |
| DBJPXtrackers MSCI Japan Hed | $66M | 2.5% | — | 8.5 yr |
| TIPiShares TIPS Bond ETF | $63M | 2.4% | — | 8.5 yr |
| SGOViShares 0-3 Month Treasu | $59M | 2.2% | — | 3.0 yr |
| IEFiShares 7-10 Year Treasu | $52M | 2.0% | — | 8.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management77.6%-2.0pp$2.06B
Asset Management - Leveraged6.5%+2.0pp$173M
Asset Management - Bonds6.5%+0.2pp$172M
Unknown1.8%-1.2pp$47M
Software - Infrastructure1.6%+0.6pp$42M
Asset Management - Global1.6%+0.2pp$41M
Internet Content & Information0.5%+0.1pp$12M
Drug Manufacturers - General0.3%+0.0pp$9M
Financial - Data & Stock Exchanges0.3%+0.1pp$8M
Semiconductors0.3%+0.1pp$7M
Country
US97.4%+1.1pp
Unknown1.8%-1.2pp
CA0.2%-0.1pp
CH0.2%+0.0pp
TW0.2%+0.0pp
IE0.1%+0.1pp
NL0.1%-0.0pp
SG0.0%
Top 5: 42.9% · Top 10: 59.1% · Top 25: 82.3%
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| SNPS | $49M | -0.00B | -7.5% |
Top buys this quarter · 15
| JCI Johnson Controls Internationalnew | +$1M |
| PH Parker-Hannifin Corporation | +$1M |
| TT Trane Technologies plc | +$1M |
| PCAR PACCAR Incnew | +$1M |
| COIN Coinbase Global, Inc. | +$1M |
| XEL Xcel Energy Inc. | +$1M |
| EMR Emerson Electric Co. | +$1M |
| DE Deere & Company | +$1M |
| ES Eversource Energynew | +$0M |
| NVT nVent Electric plcnew | +$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $2.65B | 174 | +24.48% | +17.59% | +6.89% | -0.14B |
| 2025-12-31 | $2.68B | 166 | +12.07% | +17.72% | -5.65% | +0.15B |
| 2025-09-30 | $2.52B | 162 | +13.75% | +17.52% | -3.77% | -0.13B |
| 2025-06-30 | $2.50B | 160 | +12.51% | +14.94% | -2.44% | -4.11B |
| 2025-03-31 | $5.92B | 181 | +5.97% | +8.30% | -2.33% | +2.51B |
| 2024-12-31 | $3.63B | 124 | +21.04% | +24.89% | -3.84% | -2.75B |
| 2024-09-30 | $6.24B | 174 | +34.69% | +36.04% | -1.34% | +0.04B |
| 2024-06-30 | $5.90B | 183 | +24.26% | +24.49% | -0.23% | +2.41B |
| 2024-03-31 | $3.33B | 137 | +25.07% | +29.62% | -4.55% | -1.55B |
| 2023-12-31 | $4.55B | 269 | +25.26% | +26.18% | -0.92% | -0.19B |
| 2023-09-30 | $4.16B | 240 | +20.21% | +21.57% | -1.35% | -0.35B |
| 2023-06-30 | $4.66B | 220 | +15.74% | +19.42% | -3.69% | +2.20B |
| 2023-03-31 | $2.33B | 137 | -7.98% | -7.82% | -0.16% | +0.10B |
| 2022-12-31 | $2.08B | 139 | -18.22% | -18.17% | -0.04% | +0.24B |
| 2022-09-30 | $1.69B | 132 | -16.85% | -15.51% | -1.35% | +0.30B |
| 2022-06-30 | $1.48B | 125 | -10.37% | -10.62% | +0.25% | -0.23B |