Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+3.01%
adds when stocks drop
when a holding falls −10%+
Middle response
-0.49%
baseline attrition
Rally response
-0.91%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| SPYState Street SPDR S&P 50 | $156M | 14.1% | +17.6% | 9.3 yr |
| MDYState Street SPDR S&P MI | $131M | 11.8% | — | 9.3 yr |
| XLKState Street Technology | $120M | 10.9% | — | 9.3 yr |
| JIREJPMorgan International R | $69M | 6.3% | — | 1.5 yr |
| XLVState Street Health Care | $69M | 6.3% | — | 9.3 yr |
| DGROiShares Core Dividend Gr | $56M | 5.0% | — | 5.5 yr |
| IWBiShares Russell 1000 ETF | $46M | 4.2% | — | 9.3 yr |
| XLPState Street Consumer St | $39M | 3.5% | — | 9.3 yr |
| CGWInvesco S&P Global Water | $32M | 2.9% | — | 8.0 yr |
| VYMVanguard High Dividend Y | $29M | 2.7% | — | 9.3 yr |
| QQQInvesco QQQ Trust, Serie | $28M | 2.6% | — | 8.0 yr |
| IJRiShares Core S&P Small-C | $26M | 2.4% | — | 9.3 yr |
| DIAState Street SPDR Dow Jo | $23M | 2.1% | — | 9.3 yr |
| IEFAiShares Core MSCI EAFE E | $20M | 1.8% | — | 8.3 yr |
| VNQVanguard Real Estate ETF | $18M | 1.6% | — | 9.3 yr |
Portfolio composition (YoY)
Industry mix
Asset Management93.9%-1.9pp$1.04B
Asset Management - Bonds2.1%+2.0pp$23M
Asset Management - Leveraged0.9%-0.4pp$10M
Asset Management - Global0.5%+0.3pp$5M
Consumer Electronics0.4%+0.0pp$5M
Oil & Gas Integrated0.3%+0.1pp$4M
Internet Content & Information0.3%+0.1pp$3M
Semiconductors0.2%+0.1pp$3M
Specialty Retail0.2%+0.0pp$2M
Software - Infrastructure0.1%-0.0pp$2M
Country
US99.8%+0.2pp
IE0.1%-0.0pp
Unknown0.0%-0.3pp
CA0.0%+0.0pp
GB0.0%+0.0pp
Top 5: 49.5% · Top 10: 67.8% · Top 25: 88.8%
Top buys this quarter · 15
| AMZN Amazon.com, Inc. | +$0M |
| AVGO Broadcom Inc.new | +$0M |
| NVDA NVIDIA Corporation | +$0M |
| CAT Caterpillar Inc.new | +$0M |
| IBM International Business Machine | +$0M |
| AAPL Apple Inc. | +$5M |
| META Meta Platforms, Inc. | +$1M |
| GOOG Alphabet Inc. | +$1M |
| JPM JPMorgan Chase & Co. | +$0M |
| WMT Walmart Inc. | +$0M |
Top sells this quarter · 15
| SPY State Street SPDR S&P 500 ETF | −$1M |
| GPN Global Payments Inc.exit | −$0M |
| KKR KKR & Co. Inc.exit | −$0M |
| DASH DoorDash, Inc.exit | −$0M |
| LRCX Lam Research Corporation | −$1M |
| KMI Kinder Morgan, Inc. | −$0M |
| ED Consolidated Edison, Inc. | −$0M |
| XOM Exxon Mobil Corporation | −$1M |
| GMED Globus Medical, Inc. | −$0M |
| LOW Lowe's Companies, Inc. | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.10B | 127 | +17.99% | +17.59% | +0.40% | +0.04B |
| 2025-12-31 | $1.11B | 131 | +17.29% | +17.72% | -0.42% | -0.00B |
| 2025-09-30 | $1.08B | 126 | +17.25% | +17.52% | -0.26% | -0.02B |
| 2025-06-30 | $1.01B | 122 | +14.30% | +14.94% | -0.64% | -0.03B |
| 2025-03-31 | $952M | 110 | +8.54% | +8.30% | +0.24% | +0.03B |
| 2024-12-31 | $968M | 109 | +24.62% | +24.89% | -0.27% | -0.03B |
| 2024-09-30 | $975M | 108 | +34.98% | +36.04% | -1.06% | -0.00B |
| 2024-06-30 | $927M | 109 | +23.57% | +24.49% | -0.93% | -0.10B |
| 2024-03-31 | $980M | 111 | +28.60% | +29.62% | -1.03% | -0.05B |
| 2023-12-31 | $940M | 110 | +25.55% | +26.18% | -0.63% | +0.02B |
| 2023-09-30 | $829M | 103 | +20.96% | +21.57% | -0.61% | -0.01B |
| 2023-06-30 | $864M | 102 | +19.33% | +19.42% | -0.10% | -0.05B |
| 2023-03-31 | $839M | 101 | -8.11% | -7.82% | -0.29% | -0.01B |
| 2022-12-31 | $788M | 91 | -18.26% | -18.17% | -0.08% | +0.03B |
| 2022-09-30 | $711M | 89 | -15.34% | -15.51% | +0.16% | -0.05B |
| 2022-06-30 | $795M | 90 | -10.84% | -10.62% | -0.22% | +0.05B |