Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-2.84%
trims when stocks drop
when a holding falls −10%+
Middle response
-2.34%
baseline attrition
Rally response
-2.71%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| IVViShares Core S&P 500 ETF | $199M | 37.6% | — | 7.5 yr |
| SPYState Street SPDR S&P 50 | $47M | 8.9% | +17.6% | 7.5 yr |
| IEFAiShares Core MSCI EAFE E | $29M | 5.4% | — | 5.8 yr |
| SHYiShares 1-3 Year Treasur | $27M | 5.1% | — | 7.3 yr |
| JPIEJPMorgan Income ETF | $22M | 4.1% | — | 0.8 yr |
| XTNState Street SPDR S&P Tr | $21M | 3.9% | — | 0.3 yr |
| IHFiShares U.S. Healthcare | $19M | 3.5% | — | 2.5 yr |
| VGSHVanguard Short-Term Trea | $17M | 3.3% | — | 7.5 yr |
| QUALiShares MSCI USA Quality | $15M | 2.8% | — | 6.8 yr |
| EWJiShares MSCI Japan ETF | $13M | 2.5% | — | 2.3 yr |
| NVDANVIDIA Corporation | $10M | 1.9% | +60.9% | 6.5 yr |
| IVWiShares S&P 500 Growth E | $10M | 1.8% | — | 7.5 yr |
| GLDMSPDR Gold MiniShares Tru | $9M | 1.6% | — | 0.8 yr |
| GOOGLAlphabet Inc. | $8M | 1.4% | — | 7.5 yr |
| VUGVanguard Growth ETF | $7M | 1.4% | — | 7.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management82.4%-0.0pp$437M
Asset Management - Income4.1%-2.3pp$22M
Asset Management - Leveraged3.3%+1.5pp$17M
Semiconductors2.9%+0.1pp$15M
Internet Content & Information2.3%+0.3pp$12M
Consumer Electronics0.8%-0.1pp$4M
Asset Management - Cryptocurrency0.6%$3M
Software - Application0.4%-0.1pp$2M
Software - Infrastructure0.4%-0.3pp$2M
Solar0.3%+0.2pp$2M
Country
US99.2%-0.2pp
IL0.2%
CA0.2%+0.0pp
NL0.2%+0.1pp
LU0.1%-0.1pp
BR0.1%
CH0.1%
Top 5: 61.1% · Top 10: 77.2% · Top 25: 92.1%
Top buys this quarter · 15
| SCHW The Charles Schwab Corporationnew | +$1M |
| ENPH Enphase Energy, Inc. | +$0M |
| GRMN Garmin Ltd.new | +$0M |
| AAPL Apple Inc. | +$4M |
| ORCL Oracle Corporation | +$0M |
| UNH UnitedHealth Group Incorporate | +$1M |
| TMO Thermo Fisher Scientific Inc. | +$1M |
| TSLA Tesla, Inc. | +$1M |
| META Meta Platforms, Inc. | +$2M |
| NFLX Netflix, Inc. | +$0M |
Top sells this quarter · 15
| VRT Vertiv Holdings Co | −$1M |
| MU Micron Technology, Inc. | −$1M |
| MRVL Marvell Technology, Inc. | −$0M |
| BA The Boeing Companyexit | −$0M |
| PYPL PayPal Holdings, Inc.exit | −$0M |
| RIVN Rivian Automotive, Inc.exit | −$0M |
| GRAL GRAIL, Inc.exit | −$0M |
| NVDA NVIDIA Corporation | −$0M |
| GOOG Alphabet Inc. | −$0M |
| MSFT Microsoft Corporation | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $530M | 85 | +27.55% | +17.59% | +9.96% | +0.04B |
| 2025-12-31 | $517M | 87 | +21.18% | +17.72% | +3.47% | +0.03B |
| 2025-09-30 | $469M | 74 | +23.49% | +17.52% | +5.97% | +0.01B |
| 2025-06-30 | $413M | 66 | +17.15% | +14.94% | +2.21% | -0.07B |
| 2025-03-31 | $411M | 66 | +4.08% | +8.30% | -4.22% | +0.03B |
| 2024-12-31 | $425M | 69 | +20.00% | +24.89% | -4.89% | -0.01B |
| 2024-09-30 | $411M | 67 | +32.80% | +36.04% | -3.23% | -0.00B |
| 2024-06-30 | $394M | 74 | +19.81% | +24.49% | -4.68% | -0.03B |
| 2024-03-31 | $403M | 75 | +21.53% | +29.62% | -8.09% | +0.02B |
| 2023-12-31 | $365M | 80 | +31.28% | +26.18% | +5.11% | +0.00B |
| 2023-09-30 | $313M | 69 | +15.42% | +21.57% | -6.14% | +0.02B |
| 2023-06-30 | $310M | 76 | +15.34% | +19.42% | -4.09% | -0.00B |
| 2023-03-31 | $296M | 72 | -11.03% | -7.82% | -3.21% | -0.02B |
| 2022-12-31 | $279M | 68 | -24.46% | -18.17% | -6.29% | +0.10B |
| 2022-09-30 | $174M | 62 | -17.79% | -15.51% | -2.28% | -0.05B |
| 2022-06-30 | $239M | 67 | -12.94% | -10.62% | -2.32% | -0.00B |