Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-1.47%
trims when stocks drop
when a holding falls −10%+
Middle response
+0.72%
steady accumulation
Rally response
+0.39%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| VTIVanguard Total Stock Mar | $41M | 3.9% | — | 9.3 yr |
| IAUiShares Gold Trust | $34M | 3.2% | — | 4.8 yr |
| NVDANVIDIA Corporation | $30M | 2.9% | +60.9% | 9.3 yr |
| NEMNewmont Corporation | $29M | 2.8% | +127.1% | 2.0 yr |
| IVViShares Core S&P 500 ETF | $24M | 2.3% | — | 9.3 yr |
| SGOLabrdn Physical Gold Shar | $22M | 2.1% | — | 6.3 yr |
| MSFTMicrosoft Corporation | $22M | 2.1% | -0.6% | 9.3 yr |
| AAPLApple Inc. | $21M | 2.0% | +14.7% | 8.8 yr |
| AVUVAvantis U.S. Small Cap V | $20M | 1.9% | — | 2.8 yr |
| BNDVanguard Total Bond Mark | $19M | 1.8% | — | 6.0 yr |
| GLDSPDR Gold Shares | $18M | 1.7% | — | 6.8 yr |
| RTXRTX Corporation | $17M | 1.6% | +48.1% | 5.5 yr |
| DFEMDimensional - Emerging M | $14M | 1.3% | — | 3.5 yr |
| GOOGAlphabet Inc. | $14M | 1.3% | +84.3% | 9.0 yr |
| VXUSVanguard Total Internati | $12M | 1.2% | — | 4.8 yr |
Portfolio composition (YoY)
Industry mix
Asset Management33.4%+2.6pp$352M
Semiconductors5.0%+1.1pp$53M
Asset Management - Bonds4.7%+0.3pp$50M
Aerospace & Defense4.6%+1.2pp$48M
Software - Infrastructure3.1%-0.7pp$33M
Oil & Gas Integrated2.9%+0.5pp$31M
Gold2.8%+1.3pp$29M
Regulated Electric2.7%+0.2pp$28M
Drug Manufacturers - General2.3%-0.6pp$24M
Railroads2.0%-0.1pp$21M
Country
US91.6%-1.1pp
CA1.9%+0.9pp
GB1.5%+0.7pp
FR1.0%+0.1pp
Unknown1.0%+0.8pp
TW0.8%+0.3pp
IL0.8%-0.0pp
IE0.6%-0.2pp
Top 5: 15.0% · Top 10: 25.0% · Top 25: 42.3%
Top buys this quarter · 15
| PAA Plains All American Pipeline, new | +$6M |
| AIG American International Group, | +$4M |
| EPD Enterprise Products Partners L | +$4M |
| RYN Rayonier Inc. | +$4M |
| PBA Pembina Pipeline Corporationnew | +$4M |
| FCX Freeport-McMoRan Inc. | +$3M |
| NATR Nature's Sunshine Products, Innew | +$2M |
| GEV GE Vernova Inc. | +$2M |
| PANW Palo Alto Networks, Inc. | +$2M |
| PLTR Palantir Technologies Inc. | +$2M |
Top sells this quarter · 15
| APD Air Products and Chemicals, In | −$9M |
| SONY Sony Group Corporation | −$6M |
| KLAC KLA Corporation | −$5M |
| TXRH Texas Roadhouse, Inc.exit | −$5M |
| GLDD Great Lakes Dredge & Dock Corp | −$3M |
| PGR The Progressive Corporation | −$1M |
| D Dominion Energy, Inc. | −$1M |
| LIN Linde plc | −$1M |
| ITW Illinois Tool Works Inc. | −$1M |
| QCOM QUALCOMM Incorporated | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.05B | 743 | +23.46% | +17.59% | +5.87% | +0.00B |
| 2025-12-31 | $1.02B | 711 | +19.17% | +17.72% | +1.45% | -0.03B |
| 2025-09-30 | $1.03B | 698 | +17.38% | +17.52% | -0.14% | +0.06B |
| 2025-06-30 | $890M | 669 | +14.83% | +14.94% | -0.11% | +0.01B |
| 2025-03-31 | $818M | 672 | +7.92% | +8.30% | -0.38% | -0.02B |
| 2024-12-31 | $851M | 669 | +17.52% | +24.89% | -7.36% | -0.01B |
| 2024-09-30 | $856M | 636 | +27.34% | +36.04% | -8.70% | +0.02B |
| 2024-06-30 | $783M | 614 | +13.97% | +24.49% | -10.52% | +0.03B |
| 2024-03-31 | $745M | 656 | +18.02% | +29.62% | -11.60% | +0.02B |
| 2023-12-31 | $675M | 598 | +14.36% | +26.18% | -11.82% | +0.01B |
| 2023-09-30 | $605M | 246 | +15.91% | +21.57% | -5.65% | +0.05B |
| 2023-06-30 | $579M | 207 | +13.29% | +19.42% | -6.13% | +0.02B |
| 2023-03-31 | $533M | 192 | -5.95% | -7.82% | +1.87% | +0.02B |
| 2022-12-31 | $491M | 183 | -13.91% | -18.17% | +4.26% | -0.02B |
| 2022-09-30 | $464M | 174 | -13.51% | -15.51% | +2.00% | -0.05B |
| 2022-06-30 | $550M | 188 | +0.93% | -10.62% | +11.55% | -0.00B |