Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-0.70%
trims when stocks drop
when a holding falls −10%+
Middle response
-4.36%
baseline attrition
Rally response
-1.92%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| JFRNuveen Floating Rate Inc | $23M | 7.2% | — | 5.0 yr |
| IVViShares Core S&P 500 ETF | $22M | 6.6% | — | 8.5 yr |
| GOOGLAlphabet Inc. | $14M | 4.3% | — | 8.5 yr |
| ICSHiShares Ultra Short Dura | $14M | 4.2% | — | 1.8 yr |
| — | $12M | 3.7% | — | 1.0 yr |
| AMZNAmazon.com, Inc. | $11M | 3.4% | +9.5% | 8.5 yr |
| QQQMInvesco NASDAQ 100 ETF | $10M | 3.0% | — | 5.3 yr |
| NEANuveen AMT-Free Quality | $10M | 2.9% | — | 7.3 yr |
| AAPLApple Inc. | $9M | 2.8% | +14.7% | 8.5 yr |
| MELIMercadoLibre, Inc. | $9M | 2.7% | -11.4% | 8.5 yr |
| SGOViShares 0-3 Month Treasu | $8M | 2.5% | — | 0.5 yr |
| BRK-BBerkshire Hathaway Inc. | $8M | 2.4% | — | 8.5 yr |
| METAMeta Platforms, Inc. | $8M | 2.4% | -0.4% | 8.5 yr |
| NVDANVIDIA Corporation | $7M | 2.3% | +60.9% | 5.5 yr |
| — | $7M | 2.2% | — | 1.0 yr |
Portfolio composition (YoY)
Industry mix
Asset Management22.4%-1.9pp$73M
Asset Management - Income16.1%-3.8pp$52M
Internet Content & Information8.2%+1.1pp$27M
Unknown7.0%+6.6pp$23M
Specialty Retail6.1%-1.8pp$20M
Semiconductors5.6%+2.3pp$18M
Software - Infrastructure3.9%-0.8pp$13M
Drug Manufacturers - General2.9%-0.4pp$10M
Consumer Electronics2.8%-0.4pp$9M
Insurance - Diversified2.6%-0.9pp$9M
Country
US86.8%-6.4pp
Unknown7.0%+6.6pp
UY2.7%-0.8pp
BR1.3%-0.0pp
NL0.9%+0.3pp
CA0.5%+0.3pp
CH0.4%-0.1pp
IE0.3%+0.2pp
Top 5: 26.0% · Top 10: 40.8% · Top 25: 68.9%
Top buys this quarter · 15
| HRTX Heron Therapeutics, Inc. | +$3M |
| AMAT Applied Materials, Inc.new | +$1M |
| MELI MercadoLibre, Inc. | +$9M |
| CRWD CrowdStrike Holdings, Inc. | +$0M |
| SNOW Snowflake Inc. | +$2M |
| ETN Eaton Corporation plc | +$0M |
| TER Teradyne, Inc.new | +$0M |
| SOLS Solstice Advanced Materials Innew | +$0M |
| FTNT Fortinet, Inc. | +$0M |
| UNH UnitedHealth Group Incorporate | +$0M |
Top sells this quarter · 15
| TTD The Trade Desk, Inc. | −$1M |
| MSFT Microsoft Corporation | −$1M |
| CRM Salesforce, Inc. | −$1M |
| PSX Phillips 66 | −$1M |
| THC Tenet Healthcare Corporation | −$0M |
| CMG Chipotle Mexican Grill, Inc.exit | −$0M |
| GILD Gilead Sciences, Inc. | −$0M |
| SPY State Street SPDR S&P 500 ETF | −$0M |
| JD JD.com, Inc.exit | −$0M |
| NEE NextEra Energy, Inc. | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $326M | 131 | +11.90% | +17.59% | -5.69% | +0.02B |
| 2025-12-31 | $335M | 128 | +14.54% | +17.72% | -3.18% | +0.01B |
| 2025-09-30 | $322M | 125 | +17.08% | +17.52% | -0.43% | +0.01B |
| 2025-06-30 | $305M | 119 | +17.33% | +14.94% | +2.39% | -0.01B |
| 2025-03-31 | $264M | 106 | +5.96% | +8.30% | -2.34% | +0.01B |
| 2024-12-31 | $275M | 110 | +26.10% | +24.89% | +1.21% | -0.00B |
| 2024-09-30 | $270M | 111 | +37.65% | +36.04% | +1.61% | +0.01B |
| 2024-06-30 | $249M | 117 | +30.50% | +24.49% | +6.00% | +0.01B |
| 2024-03-31 | $226M | 114 | +35.49% | +29.62% | +5.87% | -0.00B |
| 2023-12-31 | $205M | 115 | +38.49% | +26.18% | +12.31% | +0.01B |
| 2023-09-30 | $174M | 113 | +28.23% | +21.57% | +6.67% | -0.00B |
| 2023-06-30 | $178M | 126 | +29.83% | +19.42% | +10.41% | -0.01B |
| 2023-03-31 | $168M | 127 | -6.70% | -7.82% | +1.12% | -0.01B |
| 2022-12-31 | $157M | 131 | -21.95% | -18.17% | -3.78% | +0.00B |
| 2022-09-30 | $151M | 128 | +8.65% | -15.51% | +24.15% | -0.00B |
| 2022-06-30 | $156M | 127 | -20.74% | -16.11% | -4.63% | +0.00B |