Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-5.95%
trims when stocks drop
when a holding falls −10%+
Middle response
-3.42%
baseline attrition
Rally response
-2.10%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| AAPLApple Inc. | $150M | 3.6% | +14.7% | 8.3 yr |
| GLDSPDR Gold Shares | $132M | 3.2% | — | 6.0 yr |
| NVDANVIDIA Corporation | $87M | 2.1% | +60.9% | 7.8 yr |
| MSFTMicrosoft Corporation | $86M | 2.1% | -0.6% | 8.3 yr |
| VOOVanguard S&P 500 ETF | $83M | 2.0% | — | 2.8 yr |
| GOOGLAlphabet Inc. | $70M | 1.7% | — | 8.3 yr |
| XOMExxon Mobil Corporation | $66M | 1.6% | +47.6% | 8.3 yr |
| AMZNAmazon.com, Inc. | $63M | 1.5% | +9.5% | 8.3 yr |
| IVViShares Core S&P 500 ETF | $58M | 1.4% | — | 8.3 yr |
| AVGOBroadcom Inc. | $51M | 1.2% | +86.0% | 8.0 yr |
| JPMJPMorgan Chase & Co. | $50M | 1.2% | +21.8% | 8.3 yr |
| RDVYFirst Trust Rising Divid | $49M | 1.2% | — | 2.5 yr |
| SDVYFirst Trust SMID Cap Ris | $41M | 1.0% | — | 0.8 yr |
| HDThe Home Depot, Inc. | $40M | 1.0% | -8.0% | 8.3 yr |
| EPDEnterprise Products Part | $39M | 0.9% | +18.7% | 1.8 yr |
Portfolio composition (YoY)
Industry mix
Asset Management40.6%+4.5pp$1.69B
Semiconductors5.5%+1.7pp$229M
Asset Management - Bonds4.2%+3.6pp$174M
Consumer Electronics3.6%-9.4pp$150M
Drug Manufacturers - General3.3%+1.0pp$137M
Software - Infrastructure3.0%+0.8pp$123M
Internet Content & Information2.8%-1.1pp$116M
Oil & Gas Integrated2.2%+1.1pp$92M
Banks - Diversified2.1%+0.4pp$89M
Specialty Retail2.0%-0.4pp$82M
Country
US94.2%+4.0pp
GB1.1%-0.1pp
IE0.9%-0.3pp
Unknown0.6%-0.1pp
CA0.5%-0.4pp
TW0.4%-0.1pp
CH0.4%-0.0pp
NL0.4%-0.2pp
Top 5: 12.9% · Top 10: 20.3% · Top 25: 33.4%
Top buys this quarter · 15
| AAPL Apple Inc. | +$87M |
| NVDA NVIDIA Corporation | +$48M |
| MSFT Microsoft Corporation | +$40M |
| HD The Home Depot, Inc. | +$34M |
| AMZN Amazon.com, Inc. | +$31M |
| AVGO Broadcom Inc. | +$27M |
| GOOG Alphabet Inc. | +$25M |
| JPM JPMorgan Chase & Co. | +$25M |
| XOM Exxon Mobil Corporation | +$20M |
| LLY Eli Lilly and Company | +$20M |
Top sells this quarter · 15
| SPY State Street SPDR S&P 500 ETF exit | −$20M |
| META Meta Platforms, Inc.exit | −$16M |
| NFLX Netflix, Inc.exit | −$4M |
| EXR Extra Space Storage Inc. | −$3M |
| OBDC Blue Owl Capital Corporation | −$2M |
| AFG American Financial Group, Inc.exit | −$1M |
| STWD Starwood Property Trust, Inc. | −$1M |
| INGR Ingredion Incorporatedexit | −$1M |
| MAA Mid-America Apartment Communitexit | −$1M |
| BDX Becton, Dickinson and Company | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $4.17B | 1081 | +20.38% | +17.59% | +2.79% | +2.15B |
| 2025-12-31 | $2.04B | 713 | +16.05% | +17.72% | -1.67% | +0.58B |
| 2025-09-30 | $1.43B | 668 | +16.35% | +17.52% | -1.17% | +0.02B |
| 2025-06-30 | $1.28B | 1488 | +13.84% | +14.94% | -1.11% | +0.02B |
| 2025-03-31 | $1.17B | 526 | +10.60% | +8.30% | +2.30% | -0.01B |
| 2024-12-31 | $1.24B | 536 | +21.72% | +24.89% | -3.17% | +0.17B |
| 2024-09-30 | $1.04B | 529 | +31.66% | +36.04% | -4.38% | -0.32B |
| 2024-06-30 | $1.26B | 531 | +16.88% | +24.49% | -7.61% | -0.11B |
| 2024-03-31 | $1.30B | 531 | +19.83% | +29.62% | -9.79% | +0.20B |
| 2023-12-31 | $1.05B | 492 | +24.12% | +26.18% | -2.06% | +0.03B |
| 2023-09-30 | $919M | 496 | +19.68% | +21.57% | -1.89% | +0.02B |
| 2023-06-30 | $944M | 477 | +19.37% | +19.42% | -0.06% | -0.02B |
| 2023-03-31 | $890M | 479 | -6.23% | -7.82% | +1.59% | -0.06B |
| 2022-12-31 | $877M | 447 | -17.53% | -18.17% | +0.65% | +0.07B |
| 2022-09-30 | $752M | 440 | -14.49% | -15.51% | +1.02% | -0.00B |
| 2022-06-30 | $793M | 452 | -9.72% | -10.62% | +0.90% | +0.01B |