Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+4.43%
adds when stocks drop
when a holding falls −10%+
Middle response
+12.08%
steady accumulation
Rally response
-2.22%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| SUBiShares Short-Term Natio | $76M | 6.8% | — | 3.5 yr |
| IVWiShares S&P 500 Growth E | $69M | 6.1% | — | 7.5 yr |
| JMSTJPMorgan Ultra-Short Mun | $61M | 5.4% | — | 2.3 yr |
| XLKState Street Technology | $58M | 5.2% | — | 7.5 yr |
| BILState Street SPDR Bloomb | $48M | 4.3% | — | 4.3 yr |
| VOOVanguard S&P 500 ETF | $47M | 4.2% | — | 6.3 yr |
| IVEiShares S&P 500 Value ET | $39M | 3.5% | — | 7.5 yr |
| VTEBVanguard Tax-Exempt Bond | $29M | 2.5% | — | 3.3 yr |
| SPYState Street SPDR S&P 50 | $28M | 2.5% | +17.6% | 7.5 yr |
| VEAVanguard FTSE Developed | $28M | 2.5% | — | 6.5 yr |
| MUBiShares National Muni Bo | $26M | 2.3% | — | 3.5 yr |
| VGSHVanguard Short-Term Trea | $25M | 2.3% | — | 3.5 yr |
| IJHiShares Core S&P Mid-Cap | $24M | 2.1% | — | 7.5 yr |
| MSFTMicrosoft Corporation | $23M | 2.1% | -0.6% | 7.5 yr |
| EFAiShares MSCI EAFE ETF | $21M | 1.8% | — | 7.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management69.9%-4.1pp$783M
Asset Management - Bonds6.9%+0.1pp$78M
Asset Management - Income5.5%-0.1pp$61M
Software - Infrastructure2.6%-0.4pp$29M
Asset Management - Leveraged2.3%+0.0pp$25M
Consumer Electronics1.6%+0.1pp$18M
Semiconductors1.0%+0.8pp$11M
Tobacco1.0%-0.1pp$11M
Regulated Electric0.6%-0.0pp$7M
Asset Management - Global0.6%-0.1pp$6M
Country
US98.6%-1.3pp
JP0.2%+0.2pp
GB0.2%+0.2pp
Unknown0.1%+0.1pp
CH0.1%+0.1pp
FR0.1%+0.1pp
DE0.1%+0.1pp
NL0.1%+0.1pp
Top 5: 27.9% · Top 10: 43.1% · Top 25: 68.4%
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| MSFT | $23M | -0.00B | -0.6% |
Top buys this quarter · 15
| AZN AstraZeneca PLCnew | +$0M |
| PAYC Paycom Software, Inc. | +$0M |
| ASML ASML Holding N.V. | +$0M |
| V Visa Inc. | +$0M |
| COST Costco Wholesale Corporation | +$0M |
| TMUS T-Mobile US, Inc. | +$0M |
| MTCH Match Group, Inc. | +$0M |
| PIPR Piper Sandler Companiesnew | +$0M |
| SHEL Shell plc | +$0M |
| LW Lamb Weston Holdings, Inc. | +$0M |
Top sells this quarter · 15
| MSFT Microsoft Corporation | −$0M |
| AGX Argan, Inc. | −$0M |
| JPM JPMorgan Chase & Co. | −$0M |
| HD The Home Depot, Inc. | −$0M |
| LLY Eli Lilly and Company | −$0M |
| SOLS Solstice Advanced Materials In | −$0M |
| AEIS Advanced Energy Industries, Inexit | −$0M |
| SPY State Street SPDR S&P 500 ETF | −$0M |
| TTMI TTM Technologies, Inc.exit | −$0M |
| AAPL Apple Inc. | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.12B | 2092 | +14.88% | +17.59% | -2.72% | +0.05B |
| 2025-12-31 | $1.13B | 2137 | +17.45% | +17.72% | -0.27% | +0.03B |
| 2025-09-30 | $1.11B | 2145 | +18.53% | +17.52% | +1.01% | +0.01B |
| 2025-06-30 | $1.01B | 1117 | +16.30% | +14.94% | +1.36% | -0.03B |
| 2025-03-31 | $938M | 714 | +9.23% | +8.30% | +0.93% | +0.02B |
| 2024-12-31 | $944M | 718 | +23.73% | +24.89% | -1.16% | -0.04B |
| 2024-09-30 | $982M | 732 | +37.32% | +36.04% | +1.29% | +0.02B |
| 2024-06-30 | $896M | 733 | +23.24% | +24.49% | -1.25% | -0.32B |
| 2024-03-31 | $1.16B | 846 | +29.99% | +29.62% | +0.37% | +0.11B |
| 2023-12-31 | $958M | 762 | +26.04% | +26.18% | -0.13% | -0.11B |
| 2023-09-30 | $958M | 761 | +21.90% | +21.57% | +0.34% | +0.05B |
| 2023-06-30 | $940M | 172 | +20.93% | +19.42% | +1.50% | +0.01B |
| 2023-03-31 | $839M | 164 | -0.13% | -7.82% | +7.69% | -0.00B |
| 2022-12-31 | $789M | 161 | -10.61% | -18.17% | +7.57% | +0.07B |
| 2022-09-30 | $667M | 143 | -7.67% | -15.51% | +7.84% | +0.05B |
| 2022-06-30 | $646M | 123 | -2.73% | -10.62% | +7.89% | +0.02B |