Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+1.78%
adds when stocks drop
when a holding falls −10%+
Middle response
+2.18%
steady accumulation
Rally response
-0.25%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| SCHXSchwab U.S. Large-Cap ET | $194M | 16.2% | — | 9.0 yr |
| VEAVanguard FTSE Developed | $96M | 8.0% | — | 9.0 yr |
| VCSHVanguard Short-Term Corp | $78M | 6.5% | — | 9.0 yr |
| SCHZSchwab U.S. Aggregate Bo | $77M | 6.4% | — | 9.0 yr |
| — | $55M | 4.6% | — | 0.8 yr |
| SCHASchwab U.S. Small-Cap ET | $41M | 3.4% | — | 9.0 yr |
| SCHPSchwab U.S. TIPS ETF | $40M | 3.3% | — | 9.0 yr |
| VIGVanguard Dividend Apprec | $37M | 3.0% | — | 9.0 yr |
| SPHYState Street SPDR Portfo | $26M | 2.2% | — | 4.5 yr |
| SGOViShares 0-3 Month Treasu | $26M | 2.1% | — | 2.5 yr |
| VNQVanguard Real Estate ETF | $25M | 2.1% | — | 9.0 yr |
| HDViShares Core High Divide | $22M | 1.9% | — | 7.3 yr |
| VUGVanguard Growth ETF | $22M | 1.8% | — | 8.8 yr |
| VBVanguard Small-Cap ETF | $21M | 1.7% | — | 7.0 yr |
| VOOVanguard S&P 500 ETF | $20M | 1.7% | — | 6.3 yr |
Portfolio composition (YoY)
Industry mix
Asset Management63.5%-8.5pp$762M
Asset Management - Bonds18.2%-2.2pp$218M
Unknown11.1%+10.5pp$134M
Consumer Electronics1.0%-0.1pp$12M
Semiconductors0.7%+0.4pp$8M
Financial - Capital Markets0.6%-0.3pp$8M
Internet Content & Information0.5%+0.1pp$6M
Software - Infrastructure0.3%-0.0pp$4M
Regulated Electric0.3%-0.0pp$3M
Banks - Diversified0.2%+0.1pp$3M
Country
US88.3%-10.6pp
Unknown11.1%+10.5pp
CA0.2%-0.2pp
IE0.1%-0.0pp
CH0.1%+0.0pp
GB0.1%+0.0pp
UY0.1%
AU0.0%
Top 5: 41.7% · Top 10: 55.8% · Top 25: 76.6%
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Top buys this quarter · 15
| SPY State Street SPDR S&P 500 ETF | +$1M |
| SCHW The Charles Schwab Corporation | +$7M |
| NVDA NVIDIA Corporation | +$5M |
| EMN Eastman Chemical Companynew | +$0M |
| RTX RTX Corporation | +$0M |
| BA The Boeing Company | +$0M |
| GLW Corning Incorporated | +$0M |
| AXTI AXT, Inc.new | +$0M |
| COP ConocoPhillips | +$0M |
| AVGO Broadcom Inc. | +$1M |
Top sells this quarter · 15
| AGI Alamos Gold Inc.exit | −$1M |
| AEM Agnico Eagle Mines Limitedexit | −$1M |
| WDO.TO Wesdome Gold Mines Ltd. | −$0M |
| EQX Equinox Gold Corp. | −$0M |
| CVE Cenovus Energy Inc. | −$0M |
| NEM Newmont Corporation | −$0M |
| SKE.TO Skeena Resources Limitedexit | −$0M |
| BSX Boston Scientific Corporation | −$0M |
| SHW The Sherwin-Williams Company | −$0M |
| HL Hecla Mining Companyexit | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.20B | 1032 | +22.54% | +17.59% | +4.95% | +0.11B |
| 2025-12-31 | $1.12B | 1048 | +22.06% | +17.72% | +4.34% | +0.10B |
| 2025-09-30 | $976M | 325 | +19.42% | +17.52% | +1.91% | -0.02B |
| 2025-06-30 | $896M | 198 | +12.59% | +14.94% | -2.35% | -0.02B |
| 2025-03-31 | $848M | 285 | +8.38% | +8.30% | +0.08% | +0.04B |
| 2024-12-31 | $833M | 759 | +17.54% | +24.89% | -7.34% | +0.01B |
| 2024-09-30 | $805M | 203 | +30.07% | +36.04% | -5.97% | +0.03B |
| 2024-06-30 | $743M | 194 | +19.62% | +24.49% | -4.87% | -0.01B |
| 2024-03-31 | $718M | 202 | +26.51% | +29.62% | -3.11% | +0.02B |
| 2023-12-31 | $657M | 199 | +20.85% | +26.18% | -5.33% | -0.00B |
| 2023-09-30 | $581M | 187 | +15.61% | +21.57% | -5.96% | +0.02B |
| 2023-06-30 | $580M | 181 | +20.68% | +19.42% | +1.25% | -0.01B |
| 2023-03-31 | $533M | 165 | -8.06% | -7.82% | -0.24% | +0.03B |
| 2022-12-31 | $502M | 155 | -13.14% | -18.17% | +5.03% | +0.01B |
| 2022-09-30 | $451M | 136 | -10.96% | -15.51% | +4.55% | -0.00B |
| 2022-06-30 | $452M | 135 | -10.63% | -10.62% | -0.01% | +0.02B |