Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-8.11%
trims when stocks drop
when a holding falls −10%+
Middle response
-9.39%
baseline attrition
Rally response
-6.65%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| SCHQSchwab Long-Term U.S. Tr | $18M | 7.4% | — | 1.0 yr |
| BKLCBNY Mellon US Large Cap | $14M | 5.9% | — | 1.0 yr |
| BKAGBNY Mellon Core Bond ETF | $13M | 5.3% | — | 1.0 yr |
| SCHPSchwab U.S. TIPS ETF | $12M | 5.2% | — | 6.5 yr |
| SPHYState Street SPDR Portfo | $10M | 4.0% | — | 1.0 yr |
| BSCZInvesco BulletShares 203 | $6M | 2.5% | — | 1.0 yr |
| MRKMerck & Co., Inc. | $6M | 2.4% | +38.9% | 6.5 yr |
| GILDGilead Sciences, Inc. | $5M | 2.1% | +27.7% | 6.0 yr |
| CSCOCisco Systems, Inc. | $5M | 2.0% | +28.1% | 1.8 yr |
| SCCOSouthern Copper Corporat | $5M | 1.9% | +93.0% | 4.8 yr |
| AMGNAmgen Inc. | $5M | 1.9% | +16.5% | 1.3 yr |
| KOThe Coca-Cola Company | $5M | 1.9% | +9.3% | 6.5 yr |
| MOAltria Group, Inc. | $4M | 1.8% | +15.8% | 6.5 yr |
| FESMFidelity Enhanced Small | $4M | 1.7% | — | 1.0 yr |
| SCHYSchwab International Div | $4M | 1.7% | — | 1.0 yr |
Portfolio composition (YoY)
Industry mix
Asset Management31.2%+8.9pp$75M
Drug Manufacturers - General10.4%+5.6pp$25M
Asset Management - Bonds9.7%-11.6pp$23M
Tobacco3.5%+3.5pp$9M
Semiconductors3.4%+1.7pp$8M
Beverages - Non-Alcoholic3.1%+3.1pp$7M
Household & Personal Products3.0%+2.6pp$7M
Telecommunications Services2.5%-1.0pp$6M
Communication Equipment2.1%+1.6pp$5M
Copper1.9%$5M
Country
US93.1%-3.3pp
GB1.7%+1.6pp
IE1.2%+1.0pp
ZA1.0%+1.0pp
IN1.0%-1.2pp
Unknown0.9%+0.9pp
DK0.8%+0.4pp
BM0.1%-0.0pp
Top 5: 27.7% · Top 10: 38.7% · Top 25: 62.0%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| VZ | $6M | +0.00B | 16.5% |
| MRK | $0M | +0.00B | 38.9% |
| TPR | $0M | +0.00B | 103.3% |
| PEP | $0M | +0.00B | 7.7% |
| GILD | $0M | +0.00B | 27.7% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| CL | $0M | -0.00B | -6.8% |
Top buys this quarter · 15
| MRK Merck & Co., Inc. | +$5M |
| SCCO Southern Copper Corporation | +$5M |
| GILD Gilead Sciences, Inc. | +$4M |
| CSCO Cisco Systems, Inc. | +$4M |
| AMGN Amgen Inc. | +$4M |
| KO The Coca-Cola Company | +$4M |
| MO Altria Group, Inc. | +$4M |
| TRGP Targa Resources Corp. | +$4M |
| PM Philip Morris International In | +$4M |
| BP BP p.l.c. | +$4M |
Top sells this quarter · 15
| DELL Dell Technologies Inc. | −$11M |
| F-PD Ford Motor Company 6.500% Note | −$9M |
| RES RPC, Inc.exit | −$9M |
| FAST Fastenal Company | −$9M |
| DKS DICK'S Sporting Goods, Inc. | −$7M |
| MOS The Mosaic Company | −$6M |
| IRDM Iridium Communications Inc. | −$5M |
| EIG Employers Holdings, Inc. | −$5M |
| CHCO City Holding Company | −$5M |
| DOX Amdocs Limited | −$4M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $240M | 277 | +8.38% | +17.59% | -9.22% | +0.01B |
| 2025-12-31 | $224M | 272 | +0.88% | +17.72% | -16.84% | +0.00B |
| 2025-09-30 | $232M | 232 | +9.41% | +17.52% | -8.11% | +0.02B |
| 2025-06-30 | $203M | 270 | +12.33% | +14.94% | -2.61% | +0.01B |
| 2025-03-31 | $185M | 284 | +1.30% | +8.30% | -7.00% | +0.01B |
| 2024-12-31 | $186M | 298 | +22.22% | +24.89% | -2.67% | -0.02B |
| 2024-09-30 | $197M | 338 | +33.62% | +36.04% | -2.42% | -0.02B |
| 2024-06-30 | $204M | 225 | +22.32% | +24.49% | -2.17% | +0.03B |
| 2024-03-31 | $185M | 221 | +28.21% | +29.62% | -1.41% | -0.04B |
| 2023-12-31 | $193M | 246 | +10.56% | +26.18% | -15.61% | -0.01B |
| 2023-09-30 | $177M | 266 | +10.49% | +21.57% | -11.08% | +0.01B |
| 2023-06-30 | $166M | 255 | +8.87% | +19.42% | -10.55% | -0.01B |
| 2023-03-31 | $171M | 274 | -2.66% | -7.82% | +5.16% | +0.01B |
| 2022-12-31 | $159M | 229 | -5.97% | -18.17% | +12.20% | +0.02B |
| 2022-09-30 | $127M | 239 | -7.14% | -15.51% | +8.37% | -0.02B |
| 2022-06-30 | $151M | 263 | -4.50% | -10.62% | +6.12% | +0.01B |