Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+4.51%
adds when stocks drop
when a holding falls −10%+
Middle response
-2.37%
baseline attrition
Rally response
+5.67%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| IVViShares Core S&P 500 ETF | $35M | 3.9% | — | 8.5 yr |
| SCHFSchwab International Equ | $21M | 2.3% | — | 5.5 yr |
| IEMGiShares Core MSCI Emergi | $20M | 2.2% | — | 8.5 yr |
| AAPLApple Inc. | $19M | 2.1% | +14.7% | 8.5 yr |
| IVWiShares S&P 500 Growth E | $18M | 2.0% | — | 8.5 yr |
| IVEiShares S&P 500 Value ET | $17M | 1.9% | — | 7.8 yr |
| MGKVanguard Mega Cap Growth | $16M | 1.8% | — | 8.3 yr |
| SCHGSchwab U.S. Large-Cap Gr | $15M | 1.7% | — | 4.8 yr |
| NVDANVIDIA Corporation | $14M | 1.6% | +60.9% | 6.3 yr |
| DYNFiShares U.S. Equity Fact | $13M | 1.5% | — | 2.3 yr |
| IUSBiShares Core Universal U | $13M | 1.5% | — | 8.5 yr |
| DGROiShares Core Dividend Gr | $13M | 1.5% | — | 8.5 yr |
| MSFTMicrosoft Corporation | $13M | 1.4% | -0.6% | 8.5 yr |
| VTVVanguard Value ETF | $13M | 1.4% | — | 8.5 yr |
| VIGVanguard Dividend Apprec | $12M | 1.3% | — | 8.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management59.1%-0.8pp$530M
Asset Management - Bonds5.7%-0.2pp$51M
Semiconductors3.9%+0.8pp$35M
Software - Infrastructure2.3%-0.8pp$21M
Consumer Electronics2.1%+0.1pp$19M
Banks - Diversified2.1%+0.5pp$19M
Internet Content & Information2.0%+0.1pp$18M
Industrial - Machinery1.5%+0.4pp$13M
Drug Manufacturers - General1.3%+0.1pp$12M
Specialty Retail1.2%+0.0pp$10M
Country
US97.0%-0.4pp
IE1.5%-0.2pp
Unknown0.7%+0.4pp
CH0.3%+0.3pp
NL0.3%-0.2pp
CA0.1%+0.0pp
GB0.1%+0.0pp
IL0.1%+0.0pp
Top 5: 12.6% · Top 10: 21.0% · Top 25: 38.4%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| NVDA | $14M | +0.01B | 60.9% |
| AAPL | $16M | +0.00B | 14.7% |
| JPM | $8M | +0.00B | 21.8% |
| AMZN | $9M | +0.00B | 9.5% |
| MSFT | $12M | -0.00B | -0.6% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| MSFT | $12M | -0.00B | -0.6% |
Top buys this quarter · 15
| GEV GE Vernova Inc. | +$4M |
| PH Parker-Hannifin Corporation | +$2M |
| CEG Constellation Energy Corporati | +$2M |
| AMAT Applied Materials, Inc. | +$2M |
| APH Amphenol Corporation | +$2M |
| FANG Diamondback Energy, Inc. | +$2M |
| JNJ Johnson & Johnson | +$1M |
| TSLA Tesla, Inc. | +$1M |
| MSFT Microsoft Corporation | +$13M |
| AVGO Broadcom Inc. | +$1M |
Top sells this quarter · 15
| LHX L3Harris Technologies, Inc. | −$2M |
| V Visa Inc. | −$2M |
| CRWD CrowdStrike Holdings, Inc. | −$2M |
| UNH UnitedHealth Group Incorporate | −$2M |
| NKE NIKE, Inc. | −$1M |
| DLR Digital Realty Trust, Inc. | −$1M |
| VZ Verizon Communications Inc. | −$1M |
| TJX The TJX Companies, Inc. | −$1M |
| PYPL PayPal Holdings, Inc.exit | −$1M |
| LRCX Lam Research Corporation | −$5M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $897M | 600 | +19.10% | +17.59% | +1.50% | +0.02B |
| 2025-12-31 | $906M | 559 | +17.86% | +17.72% | +0.14% | +0.01B |
| 2025-09-30 | $882M | 560 | +17.90% | +17.52% | +0.38% | -0.00B |
| 2025-06-30 | $827M | 548 | +15.87% | +14.94% | +0.93% | -0.05B |
| 2025-03-31 | $775M | 524 | +5.59% | +8.30% | -2.71% | +0.10B |
| 2024-12-31 | $705M | 483 | +19.46% | +24.89% | -5.42% | -0.04B |
| 2024-09-30 | $738M | 477 | +32.56% | +36.04% | -3.48% | +0.05B |
| 2024-06-30 | $656M | 460 | +21.52% | +24.49% | -2.97% | +0.02B |
| 2024-03-31 | $618M | 468 | +27.56% | +29.62% | -2.06% | -0.04B |
| 2023-12-31 | $607M | 468 | +25.48% | +26.18% | -0.70% | -0.14B |
| 2023-09-30 | $663M | 472 | +19.77% | +21.57% | -1.79% | +0.02B |
| 2023-06-30 | $663M | 479 | +19.07% | +19.42% | -0.35% | -0.01B |
| 2023-03-31 | $619M | 478 | -3.79% | -7.82% | +4.03% | +0.06B |
| 2022-12-31 | $521M | 286 | -14.24% | -18.17% | +3.94% | -0.02B |
| 2022-09-30 | $503M | 285 | -11.18% | -15.51% | +4.33% | +0.02B |
| 2022-06-30 | $504M | 288 | -6.93% | -10.62% | +3.69% | -0.04B |