Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-6.89%
trims when stocks drop
when a holding falls −10%+
Middle response
-6.71%
baseline attrition
Rally response
-8.43%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| SPTSState Street SPDR Portfo | $51M | 11.0% | — | 2.3 yr |
| DGROiShares Core Dividend Gr | $36M | 7.9% | — | 5.8 yr |
| VYMVanguard High Dividend Y | $32M | 7.0% | — | 7.3 yr |
| IVViShares Core S&P 500 ETF | $27M | 5.9% | — | 7.5 yr |
| VUGVanguard Growth ETF | $27M | 5.9% | — | 6.0 yr |
| SCHDSchwab U.S. Dividend Equ | $24M | 5.2% | — | 3.8 yr |
| VCSHVanguard Short-Term Corp | $22M | 4.7% | — | 4.3 yr |
| SCHGSchwab U.S. Large-Cap Gr | $21M | 4.6% | — | 4.0 yr |
| SDVYFirst Trust SMID Cap Ris | $16M | 3.5% | — | 1.8 yr |
| VIGIVanguard International D | $12M | 2.7% | — | 3.3 yr |
| VIGVanguard Dividend Apprec | $12M | 2.6% | — | 6.5 yr |
| AAPLApple Inc. | $12M | 2.6% | +14.7% | 7.5 yr |
| VGTVanguard Information Tec | $8M | 1.8% | — | 7.3 yr |
| SPYGState Street SPDR Portfo | $8M | 1.7% | — | 2.8 yr |
| FTCSFirst Trust Capital Stre | $8M | 1.6% | — | 1.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management62.6%-4.6pp$289M
Asset Management - Leveraged11.2%+4.7pp$52M
Asset Management - Bonds4.8%+4.8pp$22M
Consumer Electronics2.6%-0.8pp$12M
Internet Content & Information2.1%+0.3pp$10M
Industrial - Machinery1.9%-0.1pp$9M
Semiconductors1.5%+0.1pp$7M
Insurance - Diversified1.4%-0.9pp$6M
Drug Manufacturers - General1.3%-0.3pp$6M
Software - Infrastructure1.2%-0.5pp$5M
Country
US98.8%+0.8pp
IE0.7%-0.7pp
CA0.3%-0.0pp
CH0.1%-0.0pp
Unknown0.0%+0.0pp
LU0.0%-0.0pp
GB0.0%+0.0pp
DE0.0%-0.0pp
Top 5: 37.7% · Top 10: 58.5% · Top 25: 80.1%
Top buys this quarter · 15
| SLS SELLAS Life Sciences Group, In | +$2M |
| NVDA NVIDIA Corporation | +$0M |
| AMZN Amazon.com, Inc. | +$0M |
| AVGO Broadcom Inc. | +$0M |
| MSFT Microsoft Corporation | +$5M |
| ETN Eaton Corporation plc | +$0M |
| SPY State Street SPDR S&P 500 ETF | +$0M |
| WMT Walmart Inc. | +$0M |
| AAPL Apple Inc. | +$12M |
| GD General Dynamics Corporation | +$0M |
Top sells this quarter · 15
| ACN Accenture plc | −$0M |
| HD The Home Depot, Inc. | −$0M |
| ICLR ICON Public Limited Companyexit | −$0M |
| UNH UnitedHealth Group Incorporate | −$0M |
| MDLZ Mondelez International, Inc.exit | −$0M |
| GL Globe Life Inc.exit | −$0M |
| MSTR Strategy Incexit | −$0M |
| XOM Exxon Mobil Corporation | −$0M |
| PG The Procter & Gamble Company | −$0M |
| ADBE Adobe Inc.exit | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $461M | 353 | +16.21% | +17.59% | -1.38% | +0.04B |
| 2025-12-31 | $433M | 380 | +14.85% | +17.72% | -2.87% | +0.02B |
| 2025-09-30 | $398M | 362 | +10.38% | +17.52% | -7.14% | +0.01B |
| 2025-06-30 | $359M | 356 | +9.28% | +14.94% | -5.66% | +0.03B |
| 2025-03-31 | $309M | 354 | +4.30% | +8.30% | -4.01% | +0.02B |
| 2024-12-31 | $302M | 86 | +27.87% | +24.89% | +2.99% | +0.06B |
| 2024-09-30 | $244M | 219 | +37.56% | +36.04% | +1.52% | +0.00B |
| 2024-06-30 | $225M | 219 | +20.22% | +24.49% | -4.27% | +0.00B |
| 2024-03-31 | $220M | 219 | +27.41% | +29.62% | -2.21% | +0.09B |
| 2023-12-31 | $109M | 245 | +13.47% | +26.18% | -12.71% | -0.06B |
| 2023-09-30 | $162M | 65 | +17.23% | +21.57% | -4.34% | -0.03B |
| 2023-06-30 | $201M | 81 | +17.33% | +19.42% | -2.10% | +0.00B |
| 2023-03-31 | $186M | 81 | -4.76% | -7.82% | +3.06% | +0.01B |
| 2022-12-31 | $171M | 81 | +10.16% | +7.56% | +2.60% | -0.00B |
| 2022-09-30 | $159M | 87 | -5.68% | -4.93% | -0.75% | -0.02B |
| 2022-06-30 | $185M | 95 | -12.83% | -16.11% | +3.28% | +0.00B |