Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+4.00%
adds when stocks drop
when a holding falls −10%+
Middle response
-7.28%
baseline attrition
Rally response
-17.01%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| IBITiShares Bitcoin Trust ET | $12M | 2.6% | — | 1.5 yr |
| SPYState Street SPDR S&P 50 | $11M | 2.3% | +17.6% | 0.8 yr |
| SHViShares 0â1 Year Treas | $10M | 2.3% | — | 1.5 yr |
| ETHAiShares Ethereum Trust E | $9M | 2.0% | — | 1.3 yr |
| AVGOBroadcom Inc. | $7M | 1.4% | +86.0% | 0.8 yr |
| AMZNAmazon.com, Inc. | $6M | 1.3% | +9.5% | 1.3 yr |
| SHELShell plc | $6M | 1.2% | +32.0% | 1.0 yr |
| LENLennar Corporation | $5M | 1.1% | -23.0% | 1.3 yr |
| GOOGAlphabet Inc. | $5M | 1.1% | +84.3% | 1.5 yr |
| BITBBitwise Bitcoin ETF Trus | $5M | 1.1% | — | 1.5 yr |
| ARKBARK 21Shares Bitcoin ETF | $5M | 1.1% | — | 1.5 yr |
| BTCOInvesco Galaxy Bitcoin E | $5M | 1.1% | — | 1.5 yr |
| HODLVanEck Bitcoin ETF | $5M | 1.1% | — | 1.5 yr |
| RSGRepublic Services, Inc. | $5M | 1.0% | -8.9% | 1.3 yr |
| DUKDuke Energy Corporation | $4M | 1.0% | +11.2% | 1.0 yr |
Portfolio composition (YoY)
Industry mix
Asset Management12.7%+0.1pp$58M
Semiconductors5.4%+3.4pp$25M
Regulated Electric4.4%+1.6pp$20M
Asset Management - Cryptocurrency4.2%-3.2pp$19M
Oil & Gas Integrated2.8%-0.7pp$13M
Industrial - Machinery2.8%+0.8pp$13M
Drug Manufacturers - General2.7%+2.0pp$12M
Software - Application2.5%+1.9pp$12M
Asset Management - Bonds2.5%-2.9pp$11M
Financial - Data & Stock Exchanges2.4%+0.6pp$11M
Country
US89.3%+0.7pp
GB4.3%+3.4pp
Unknown1.6%+0.4pp
IE1.3%-0.6pp
BR0.9%-2.0pp
CA0.8%-1.1pp
CH0.7%+0.6pp
NL0.4%+0.2pp
Top 5: 10.6% · Top 10: 16.5% · Top 25: 30.5%
Top buys this quarter · 15
| LEN Lennar Corporation | +$5M |
| V Visa Inc.new | +$4M |
| MKC McCormick & Company, Incorporanew | +$4M |
| OKE ONEOK, Inc. | +$4M |
| DUK Duke Energy Corporation | +$4M |
| AMZN Amazon.com, Inc. | +$3M |
| LNG Cheniere Energy, Inc.new | +$3M |
| CSCO Cisco Systems, Inc. | +$3M |
| CVX Chevron Corporation | +$3M |
| NCLH Norwegian Cruise Line Holdingsnew | +$3M |
Top sells this quarter · 15
| HLN Haleon plcexit | −$5M |
| XOM Exxon Mobil Corporationexit | −$3M |
| MPC Marathon Petroleum Corporationexit | −$3M |
| AMAT Applied Materials, Inc. | −$3M |
| HSBC HSBC Holdings plc | −$3M |
| ETR Entergy Corporationexit | −$3M |
| D Dominion Energy, Inc.exit | −$3M |
| ALB Albemarle Corporation | −$3M |
| MCD McDonald's Corporationexit | −$3M |
| PSO Pearson plc | −$3M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $455M | 357 | +10.81% | +17.59% | -6.78% | +0.05B |
| 2025-12-31 | $406M | 414 | +6.81% | +17.72% | -10.91% | +0.00B |
| 2025-09-30 | $393M | 429 | +3.87% | +8.12% | -4.25% | +0.08B |
| 2025-06-30 | $297M | 420 | +3.05% | +10.78% | -7.73% | +0.09B |
| 2025-03-31 | $196M | 326 | -2.81% | -4.27% | +1.46% | -0.04B |
| 2024-12-31 | $242M | 417 | — | — | — | — |