Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-2.21%
trims when stocks drop
when a holding falls −10%+
Middle response
+3.48%
steady accumulation
Rally response
-3.56%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| BILState Street SPDR Bloomb | $54M | 3.1% | — | 3.5 yr |
| AAPLApple Inc. | $51M | 3.0% | +14.7% | 8.5 yr |
| SPYState Street SPDR S&P 50 | $40M | 2.3% | +17.6% | 8.5 yr |
| FLOTiShares Floating Rate Bo | $39M | 2.3% | — | 8.5 yr |
| JAAAJanus Henderson AAA CLO | $39M | 2.3% | — | 0.8 yr |
| MGNRAmerican Beacon GLG Natu | $38M | 2.2% | — | 0.3 yr |
| AGGiShares Core U.S. Aggreg | $37M | 2.1% | — | 7.3 yr |
| MSFTMicrosoft Corporation | $34M | 2.0% | -0.6% | 8.5 yr |
| VONVVanguard Russell 1000 Va | $26M | 1.5% | — | 7.0 yr |
| QAINYLI Hedge Multi-Strateg | $25M | 1.5% | — | 6.3 yr |
| JPMJPMorgan Chase & Co. | $24M | 1.4% | +21.8% | 8.5 yr |
| EFAiShares MSCI EAFE ETF | $24M | 1.4% | — | 8.5 yr |
| VOOVanguard S&P 500 ETF | $23M | 1.3% | — | 6.3 yr |
| AVGOBroadcom Inc. | $21M | 1.3% | +86.0% | 7.5 yr |
| GOOGLAlphabet Inc. | $21M | 1.2% | — | 8.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management34.3%+7.2pp$587M
Semiconductors7.7%+2.7pp$132M
Asset Management - Bonds3.6%-0.5pp$61M
Consumer Electronics3.0%-0.6pp$51M
Software - Infrastructure2.9%-0.9pp$50M
Drug Manufacturers - General2.8%-0.5pp$48M
Internet Content & Information2.7%+0.3pp$46M
Banks - Diversified2.6%-0.1pp$44M
Financial - Credit Services2.0%-0.6pp$35M
Oil & Gas Integrated2.0%+0.2pp$34M
Country
US94.0%+1.0pp
GB1.1%+0.2pp
TW1.0%+0.7pp
CA0.9%-0.1pp
CH0.7%-0.2pp
IE0.6%-0.4pp
FR0.4%+0.1pp
Unknown0.3%-0.6pp
Top 5: 13.0% · Top 10: 22.4% · Top 25: 39.8%
Top buys this quarter · 15
| WD Walker & Dunlop, Inc. | +$4M |
| AZN AstraZeneca PLCnew | +$3M |
| NRP Natural Resource Partners L.P.new | +$3M |
| SF Stifel Financial Corp. | +$3M |
| TSM Taiwan Semiconductor Manufactu | +$2M |
| AMZN Amazon.com, Inc. | +$2M |
| UPS United Parcel Service, Inc. | +$2M |
| AZO AutoZone, Inc. | +$2M |
| CLMB Climb Global Solutions, Inc.new | +$2M |
| PAYX Paychex, Inc. | +$2M |
Top sells this quarter · 15
| MU Micron Technology, Inc. | −$11M |
| KLAC KLA Corporation | −$5M |
| AVGO Broadcom Inc. | −$2M |
| PR Permian Resources Corporation | −$5M |
| TSEM Tower Semiconductor Ltd.exit | −$2M |
| ONTO Onto Innovation Inc. | −$5M |
| FANG Diamondback Energy, Inc. | −$8M |
| AMAT Applied Materials, Inc. | −$13M |
| CAT Caterpillar Inc. | −$1M |
| BK The Bank of New York Mellon Co | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.71B | 635 | +21.16% | +17.59% | +3.57% | +0.04B |
| 2025-12-31 | $1.69B | 650 | +19.85% | +17.72% | +2.14% | -0.10B |
| 2025-09-30 | $1.73B | 696 | +16.59% | +17.52% | -0.93% | +0.14B |
| 2025-06-30 | $1.46B | 669 | +14.38% | +14.94% | -0.56% | +0.04B |
| 2025-03-31 | $1.31B | 648 | +5.99% | +8.30% | -2.32% | +0.09B |
| 2024-12-31 | $1.24B | 629 | +18.23% | +24.89% | -6.66% | -0.02B |
| 2024-09-30 | $1.25B | 637 | +30.68% | +36.04% | -5.36% | +0.06B |
| 2024-06-30 | $1.12B | 590 | +18.89% | +24.49% | -5.60% | +0.02B |
| 2024-03-31 | $1.10B | 586 | +25.23% | +29.62% | -4.39% | -0.03B |
| 2023-12-31 | $1.03B | 566 | +18.63% | +26.18% | -7.55% | +0.01B |
| 2023-09-30 | $921M | 559 | +18.31% | +21.57% | -3.26% | +0.09B |
| 2023-06-30 | $861M | 534 | +14.79% | +19.42% | -4.63% | -0.02B |
| 2023-03-31 | $827M | 537 | -5.21% | -7.82% | +2.60% | -0.01B |
| 2022-12-31 | $813M | 494 | -12.73% | -18.17% | +5.45% | +0.01B |
| 2022-09-30 | $725M | 517 | -12.54% | -15.51% | +2.97% | -0.00B |
| 2022-06-30 | $773M | 508 | -6.61% | -10.62% | +4.01% | -0.00B |