Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-4.63%
trims when stocks drop
when a holding falls −10%+
Middle response
-0.91%
baseline attrition
Rally response
-2.46%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| SPYState Street SPDR S&P 50 | $106M | 3.9% | +17.6% | 8.8 yr |
| QQQInvesco QQQ Trust, Serie | $83M | 3.0% | — | 8.0 yr |
| AAPLApple Inc. | $66M | 2.4% | +14.7% | 8.8 yr |
| NVDANVIDIA Corporation | $65M | 2.4% | +60.9% | 8.8 yr |
| PLGIPL Growth and Income ETF | $58M | 2.1% | — | 0.5 yr |
| — | $58M | 2.1% | — | 2.0 yr |
| SCHGSchwab U.S. Large-Cap Gr | $54M | 2.0% | — | 7.0 yr |
| — | $42M | 1.5% | — | 0.5 yr |
| AMZNAmazon.com, Inc. | $37M | 1.3% | +9.5% | 8.8 yr |
| MSFTMicrosoft Corporation | $36M | 1.3% | -0.6% | 8.8 yr |
| — | $35M | 1.3% | — | 2.0 yr |
| SCHXSchwab U.S. Large-Cap ET | $34M | 1.3% | — | 7.8 yr |
| VOOVanguard S&P 500 ETF | $33M | 1.2% | — | 8.5 yr |
| FNDXSchwab Fundamental U.S. | $32M | 1.2% | — | 2.0 yr |
| IVViShares Core S&P 500 ETF | $32M | 1.2% | — | 8.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management51.4%+6.0pp$1.41B
Unknown5.6%+2.4pp$153M
Asset Management - Bonds4.8%-2.3pp$132M
Semiconductors4.3%+1.1pp$119M
Consumer Electronics2.4%-1.3pp$67M
Internet Content & Information2.3%+0.3pp$63M
Asset Management - Income2.1%+0.2pp$59M
Software - Infrastructure2.1%-0.3pp$58M
Specialty Retail1.6%+0.0pp$44M
Drug Manufacturers - General1.4%-0.2pp$37M
Country
US92.2%-2.6pp
Unknown5.6%+2.4pp
CA0.8%+0.1pp
IE0.3%-0.0pp
TW0.2%+0.1pp
GB0.2%-0.0pp
CN0.1%-0.0pp
NL0.1%+0.1pp
Top 5: 13.8% · Top 10: 22.1% · Top 25: 37.4%
Top buys this quarter · 15
| AMZN Amazon.com, Inc. | +$7M |
| MSFT Microsoft Corporation | +$36M |
| KLAC KLA Corporation | +$3M |
| URI United Rentals, Inc. | +$3M |
| PG The Procter & Gamble Company | +$3M |
| COST Costco Wholesale Corporation | +$3M |
| ETN Eaton Corporation plc | +$3M |
| ADM Archer-Daniels-Midland Company | +$3M |
| DE Deere & Company | +$2M |
| NEE NextEra Energy, Inc. | +$2M |
Top sells this quarter · 15
| NOW ServiceNow, Inc. | −$87M |
| SPY State Street SPDR S&P 500 ETF | −$7M |
| LLY Eli Lilly and Company | −$3M |
| EXAS Exact Sciences Corporationexit | −$2M |
| CRWD CrowdStrike Holdings, Inc. | −$2M |
| GS The Goldman Sachs Group, Inc. | −$2M |
| BKR Baker Hughes Company | −$1M |
| RTX RTX Corporation | −$1M |
| META Meta Platforms, Inc. | −$1M |
| SHOP Shopify Inc. | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $2.74B | 1066 | +12.95% | +17.59% | -4.64% | +0.16B |
| 2025-12-31 | $2.77B | 1019 | +15.65% | +17.72% | -2.07% | +0.12B |
| 2025-09-30 | $2.62B | 982 | +17.80% | +17.52% | +0.28% | +0.04B |
| 2025-06-30 | $2.40B | 935 | +18.72% | +14.94% | +3.78% | +0.25B |
| 2025-03-31 | $1.92B | 914 | +10.16% | +8.30% | +1.86% | +0.34B |
| 2024-12-31 | $1.66B | 846 | +22.96% | +24.89% | -1.93% | -0.06B |
| 2024-09-30 | $1.67B | 921 | +31.49% | +36.04% | -4.55% | +0.12B |
| 2024-06-30 | $1.43B | 849 | +15.83% | +24.49% | -8.66% | +0.05B |
| 2024-03-31 | $1.34B | 783 | +20.19% | +29.62% | -9.43% | +0.12B |
| 2023-12-31 | $1.14B | 701 | +19.47% | +26.18% | -6.71% | +0.08B |
| 2023-09-30 | $966M | 650 | +13.60% | +21.57% | -7.97% | +0.06B |
| 2023-06-30 | $945M | 612 | +14.24% | +19.42% | -5.18% | -1.04B |
| 2023-03-31 | $1.85B | 3701 | -10.47% | -7.82% | -2.65% | +0.10B |
| 2022-12-31 | $1.65B | 3654 | -19.47% | -18.17% | -1.30% | +0.11B |
| 2022-09-30 | $1.48B | 1151 | -14.48% | -15.51% | +1.02% | +0.05B |
| 2022-06-30 | $1.49B | 1117 | -10.26% | -10.62% | +0.36% | +0.10B |