Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+1.96%
adds when stocks drop
when a holding falls −10%+
Middle response
-0.03%
baseline attrition
Rally response
-0.32%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| IVViShares Core S&P 500 ETF | $142M | 20.3% | — | 6.8 yr |
| PCTPureCycle Technologies, | $44M | 6.4% | -25.0% | 4.0 yr |
| BCIabrdn Bloomberg All Comm | $39M | 5.5% | — | 1.3 yr |
| BAIiShares A.I. Innovation | $37M | 5.3% | — | 1.3 yr |
| ACWXiShares MSCI ACWI ex U.S | $35M | 5.0% | — | 1.3 yr |
| TBGTBG Dividend Focus ETF | $32M | 4.6% | — | 1.0 yr |
| IEFAiShares Core MSCI EAFE E | $23M | 3.4% | — | 7.5 yr |
| AAPLApple Inc. | $16M | 2.3% | +14.7% | 7.0 yr |
| NVDANVIDIA Corporation | $15M | 2.2% | +60.9% | 6.0 yr |
| SUBiShares Short-Term Natio | $13M | 1.9% | — | 2.8 yr |
| ISTBiShares Core 1-5 Year US | $12M | 1.7% | — | 7.5 yr |
| IQLTiShares MSCI Intl Qualit | $10M | 1.5% | — | 6.3 yr |
| GOOGLAlphabet Inc. | $10M | 1.4% | — | 7.3 yr |
| MSFTMicrosoft Corporation | $9M | 1.3% | -0.6% | 6.8 yr |
| METAMeta Platforms, Inc. | $8M | 1.2% | -0.4% | 6.8 yr |
Portfolio composition (YoY)
Industry mix
Asset Management53.8%-1.0pp$375M
Industrial - Pollution & Treatment Controls6.4%+2.8pp$44M
Semiconductors4.1%+0.6pp$28M
Asset Management - Bonds3.6%-1.5pp$25M
Drug Manufacturers - General3.3%-0.8pp$23M
Internet Content & Information2.7%+0.8pp$19M
Consumer Electronics2.3%-0.4pp$16M
Software - Infrastructure1.8%-0.3pp$13M
Oil & Gas Integrated1.2%-0.0pp$8M
Financial - Credit Services1.0%+0.0pp$7M
Country
US97.2%-0.0pp
GB0.8%-0.1pp
CH0.5%+0.2pp
FR0.4%+0.0pp
NL0.3%-0.0pp
CA0.2%-0.1pp
Unknown0.2%+0.0pp
TW0.1%+0.0pp
Top 5: 42.5% · Top 10: 56.8% · Top 25: 71.2%
Top buys this quarter · 15
| PCT PureCycle Technologies, Inc. | +$35M |
| AAPL Apple Inc. | +$2M |
| MSFT Microsoft Corporation | +$9M |
| RYN Rayonier Inc. | +$1M |
| NVDA NVIDIA Corporation | +$1M |
| MA Mastercard Incorporated | +$1M |
| COLD Americold Realty Trust, Inc.new | +$1M |
| AMZN Amazon.com, Inc. | +$1M |
| AVGO Broadcom Inc. | +$1M |
| FIX Comfort Systems USA, Inc.new | +$1M |
Top sells this quarter · 15
| BEPC Brookfield Renewable Corporati | −$2M |
| GILD Gilead Sciences, Inc. | −$2M |
| TFC Truist Financial Corporation | −$2M |
| C Citigroup Inc. | −$2M |
| JNJ Johnson & Johnson | −$2M |
| META Meta Platforms, Inc. | −$1M |
| SPGI S&P Global Inc. | −$1M |
| HOLX Hologic, Inc.exit | −$1M |
| FDX FedEx Corporation | −$1M |
| WFC Wells Fargo & Companyexit | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $697M | 243 | +18.16% | +17.59% | +0.57% | +0.12B |
| 2025-12-31 | $592M | 163 | +12.85% | +17.72% | -4.87% | +0.02B |
| 2025-09-30 | $583M | 166 | +17.66% | +17.52% | +0.15% | +0.02B |
| 2025-06-30 | $534M | 165 | +30.83% | +14.94% | +15.89% | -0.02B |
| 2025-03-31 | $478M | 151 | +12.88% | +8.30% | +4.58% | +0.05B |
| 2024-12-31 | $459M | 141 | +39.72% | +24.89% | +14.83% | -0.03B |
| 2024-09-30 | $483M | 137 | +39.44% | +36.04% | +3.40% | +0.23B |
| 2024-06-30 | $217M | 71 | -3.96% | +24.49% | -28.45% | -0.22B |
| 2024-03-31 | $434M | 136 | +14.70% | +29.62% | -14.92% | -0.01B |
| 2023-12-31 | $385M | 138 | +4.97% | +26.18% | -21.20% | +0.03B |
| 2023-09-30 | $350M | 130 | +3.22% | +21.57% | -18.35% | +0.19B |
| 2023-06-30 | $193M | 64 | +24.61% | +19.42% | +5.19% | -0.28B |
| 2023-03-31 | $395M | 145 | -8.59% | -7.82% | -0.78% | +0.01B |
| 2022-12-31 | $367M | 148 | +0.22% | +7.56% | -7.34% | +0.02B |
| 2022-09-30 | $350M | 141 | -1.72% | -4.93% | +3.21% | -0.01B |
| 2022-06-30 | $369M | 145 | -11.94% | -16.11% | +4.17% | +0.04B |