Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+0.83%
adds when stocks drop
when a holding falls −10%+
Middle response
-3.50%
baseline attrition
Rally response
-0.43%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| AAPLApple Inc. | $14M | 5.7% | +14.7% | 8.3 yr |
| FPEFirst Trust Preferred Se | $10M | 3.8% | — | 8.3 yr |
| RSPInvesco S&P 500 Equal We | $9M | 3.7% | — | 6.8 yr |
| DGROiShares Core Dividend Gr | $8M | 3.1% | — | 8.0 yr |
| IJHiShares Core S&P Mid-Cap | $7M | 2.9% | — | 8.0 yr |
| JAAAJanus Henderson AAA CLO | $7M | 2.6% | — | 3.0 yr |
| DFAUDimensional - US Core Eq | $6M | 2.5% | — | 4.0 yr |
| DFAIDimensional - Internatio | $6M | 2.3% | — | 4.5 yr |
| FBNDFidelity Total Bond ETF | $6M | 2.3% | — | 5.0 yr |
| AMZNAmazon.com, Inc. | $6M | 2.3% | +9.5% | 8.3 yr |
| IVViShares Core S&P 500 ETF | $5M | 2.1% | — | 8.0 yr |
| QQQInvesco QQQ Trust, Serie | $5M | 2.0% | — | 7.3 yr |
| NVDANVIDIA Corporation | $5M | 1.8% | +60.9% | 5.3 yr |
| IJRiShares Core S&P Small-C | $4M | 1.7% | — | 8.3 yr |
| WFCWells Fargo & Company | $4M | 1.6% | +13.3% | 8.3 yr |
Portfolio composition (YoY)
Industry mix
Asset Management51.9%+1.6pp$130M
Asset Management - Bonds6.9%-0.4pp$17M
Consumer Electronics5.7%-1.2pp$14M
Asset Management - Income4.0%-1.3pp$10M
Semiconductors3.3%+1.1pp$8M
Specialty Retail2.4%-0.2pp$6M
Agricultural - Machinery2.2%+0.3pp$6M
Banks - Diversified2.1%-0.2pp$5M
Software - Infrastructure1.7%-0.3pp$4M
Aerospace & Defense1.5%+0.4pp$4M
Country
US97.2%+0.2pp
CA0.5%
Unknown0.5%-1.8pp
TW0.4%
PA0.4%
IE0.3%+0.2pp
NL0.2%-0.0pp
CH0.2%-0.0pp
Top 5: 19.1% · Top 10: 31.1% · Top 25: 53.0%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| AAPL | $14M | +0.00B | 14.7% |
| NVDA | $3M | +0.00B | 60.9% |
| CAT | $1M | +0.00B | 117.8% |
| WMT | $2M | +0.00B | 42.8% |
| XOM | $1M | +0.00B | 47.6% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| MSFT | $4M | -0.00B | -0.6% |
Top buys this quarter · 15
| CRON Cronos Group Inc. | +$1M |
| XOM Exxon Mobil Corporation | +$1M |
| SM SM Energy Companynew | +$0M |
| JPM JPMorgan Chase & Co. | +$0M |
| HOOD Robinhood Markets, Inc.new | +$0M |
| OBE Obsidian Energy Ltd.new | +$0M |
| RTX RTX Corporation | +$0M |
| PWR Quanta Services, Inc. | +$0M |
| BA The Boeing Company | +$0M |
| AXON Axon Enterprise, Inc. | +$1M |
Top sells this quarter · 15
| CEG Constellation Energy Corporatiexit | −$0M |
| META Meta Platforms, Inc. | −$0M |
| CET Central Securities Corp.exit | −$0M |
| MMM 3M Companyexit | −$0M |
| AAPL Apple Inc. | −$0M |
| MSFT Microsoft Corporation | −$0M |
| CAT Caterpillar Inc. | −$2M |
| UNH UnitedHealth Group Incorporate | −$0M |
| OKE ONEOK, Inc. | −$1M |
| EPD Enterprise Products Partners L | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $251M | 200 | +21.48% | +17.59% | +3.89% | +0.01B |
| 2025-12-31 | $242M | 190 | +16.49% | +17.72% | -1.23% | -0.00B |
| 2025-09-30 | $235M | 189 | +19.81% | +17.52% | +2.29% | -0.01B |
| 2025-06-30 | $220M | 184 | +17.17% | +14.94% | +2.23% | -0.00B |
| 2025-03-31 | $203M | 183 | +13.94% | +8.30% | +5.64% | +0.01B |
| 2024-12-31 | $204M | 179 | +25.69% | +24.89% | +0.81% | -0.01B |
| 2024-09-30 | $199M | 184 | +32.33% | +36.04% | -3.71% | +0.01B |
| 2024-06-30 | $181M | 175 | +17.88% | +24.49% | -6.62% | -0.00B |
| 2024-03-31 | $171M | 179 | +21.63% | +29.62% | -8.00% | +0.00B |
| 2023-12-31 | $162M | 174 | +28.96% | +26.18% | +2.78% | -0.00B |
| 2023-09-30 | $149M | 175 | +19.20% | +21.57% | -2.37% | +0.00B |
| 2023-06-30 | $153M | 177 | +21.91% | +19.42% | +2.49% | -0.00B |
| 2023-03-31 | $144M | 167 | -7.19% | -7.82% | +0.63% | -0.01B |
| 2022-12-31 | $136M | 171 | -19.95% | -18.17% | -1.77% | +0.00B |
| 2022-09-30 | $129M | 171 | -13.93% | -15.51% | +1.58% | -0.00B |
| 2022-06-30 | $135M | 173 | -11.40% | -10.62% | -0.78% | +0.00B |