Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-10.11%
trims when stocks drop
when a holding falls −10%+
Middle response
-0.08%
baseline attrition
Rally response
-1.99%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| VTIVanguard Total Stock Mar | $259M | 2.9% | — | 4.8 yr |
| BBUSJPMorgan BetaBuilders U. | $210M | 2.4% | — | 5.0 yr |
| DFACDimensional - US Core Eq | $196M | 2.2% | — | 3.3 yr |
| AAPLApple Inc. | $156M | 1.8% | +14.7% | 7.3 yr |
| NVDANVIDIA Corporation | $135M | 1.5% | +60.9% | 7.0 yr |
| VXUSVanguard Total Internati | $134M | 1.5% | — | 6.0 yr |
| BNDVanguard Total Bond Mark | $134M | 1.5% | — | 7.3 yr |
| VOOVanguard S&P 500 ETF | $129M | 1.5% | — | 5.3 yr |
| GLDSPDR Gold Shares | $124M | 1.4% | — | 4.3 yr |
| MSFTMicrosoft Corporation | $117M | 1.3% | -0.6% | 7.3 yr |
| JCPBJPMorgan Core Plus Bond | $110M | 1.2% | — | 4.8 yr |
| JIREJPMorgan International R | $92M | 1.0% | — | 2.3 yr |
| AMZNAmazon.com, Inc. | $88M | 1.0% | +9.5% | 7.0 yr |
| DGCBDimensional - Global Cre | $83M | 0.9% | — | 2.5 yr |
| GOOGLAlphabet Inc. | $82M | 0.9% | — | 7.0 yr |
Portfolio composition (YoY)
Industry mix
Asset Management49.3%+4.9pp$4.37B
Asset Management - Bonds7.9%-1.8pp$697M
Semiconductors3.9%+1.7pp$348M
Asset Management - Income2.1%-0.7pp$189M
Software - Infrastructure2.1%+0.2pp$185M
Drug Manufacturers - General2.1%+0.5pp$184M
Internet Content & Information1.8%+0.7pp$164M
Consumer Electronics1.8%+1.0pp$163M
Oil & Gas Integrated1.3%+0.6pp$118M
Asset Management - Global1.3%-0.9pp$111M
Country
US94.5%-0.3pp
GB1.2%+0.1pp
IE0.7%-0.2pp
CA0.5%-0.1pp
Unknown0.5%+0.1pp
CH0.4%+0.1pp
NL0.4%+0.1pp
TW0.4%+0.1pp
Top 5: 10.8% · Top 10: 18.0% · Top 25: 30.2%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| NVDA | $24M | +0.01B | 60.9% |
| AVGO | $16M | +0.01B | 86.0% |
| AAPL | $27M | +0.00B | 14.7% |
| AMZN | $27M | +0.00B | 9.5% |
| XOM | $4M | +0.00B | 47.6% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| MSFT | $35M | -0.00B | -0.6% |
Top buys this quarter · 15
| AAPL Apple Inc. | +$41M |
| HD The Home Depot, Inc. | +$32M |
| NVDA NVIDIA Corporation | +$27M |
| MSFT Microsoft Corporation | +$117M |
| XOM Exxon Mobil Corporation | +$18M |
| AMZN Amazon.com, Inc. | +$17M |
| AZN AstraZeneca PLCnew | +$17M |
| JPM JPMorgan Chase & Co. | +$17M |
| SPY State Street SPDR S&P 500 ETF | +$16M |
| LLY Eli Lilly and Company | +$16M |
Top sells this quarter · 15
| ROKU Roku, Inc. | −$4M |
| TER Teradyne, Inc. | −$4M |
| BBVA Banco Bilbao Vizcaya Argentari | −$4M |
| EXR Extra Space Storage Inc. | −$4M |
| CNQ Canadian Natural Resources Lim | −$4M |
| ING ING Groep N.V. | −$4M |
| GLW Corning Incorporated | −$7M |
| GPC Genuine Parts Company | −$3M |
| NUE Nucor Corporation | −$3M |
| EOG EOG Resources, Inc. | −$3M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $8.87B | 1316 | +20.81% | +17.59% | +3.21% | +1.81B |
| 2025-12-31 | $7.26B | 1232 | +18.16% | +17.72% | +0.44% | +2.02B |
| 2025-09-30 | $5.22B | 905 | +22.34% | +17.52% | +4.83% | -2.38B |
| 2025-06-30 | $6.89B | 769 | +20.09% | +14.94% | +5.15% | +2.57B |
| 2025-03-31 | $3.85B | 618 | +3.43% | +8.30% | -4.88% | +1.10B |
| 2024-12-31 | $2.90B | 571 | +15.28% | +24.89% | -9.60% | +0.11B |
| 2024-09-30 | $2.69B | 538 | +25.90% | +36.04% | -10.14% | +0.09B |
| 2024-06-30 | $2.40B | 534 | +12.43% | +24.49% | -12.06% | +0.15B |
| 2024-03-31 | $2.32B | 524 | +22.98% | +29.62% | -6.64% | +0.24B |
| 2023-12-31 | $1.97B | 508 | +21.90% | +26.18% | -4.28% | +0.41B |
| 2023-09-30 | $1.38B | 418 | +17.74% | +21.57% | -3.83% | -1.15B |
| 2023-06-30 | $2.61B | 869 | +15.60% | +19.42% | -3.83% | +0.17B |
| 2023-03-31 | $2.31B | 851 | -5.79% | -7.82% | +2.02% | +0.15B |
| 2022-12-31 | $2.05B | 832 | -14.39% | -18.17% | +3.78% | +0.08B |
| 2022-09-30 | $1.79B | 813 | -13.32% | -15.51% | +2.18% | +0.13B |
| 2022-06-30 | $1.75B | 837 | -8.13% | -10.62% | +2.49% | +0.23B |