Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+0.81%
adds when stocks drop
when a holding falls −10%+
Middle response
-1.02%
baseline attrition
Rally response
+8.62%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| VLUEiShares MSCI USA Value F | $65M | 4.1% | — | 6.5 yr |
| VEAVanguard FTSE Developed | $65M | 4.0% | — | 6.5 yr |
| VVVanguard Large-Cap ETF | $49M | 3.1% | — | 6.0 yr |
| QUALiShares MSCI USA Quality | $45M | 2.8% | — | 6.5 yr |
| MTUMiShares MSCI USA Momentu | $43M | 2.7% | — | 6.5 yr |
| JEPIJPMorgan Equity Premium | $43M | 2.7% | — | 3.0 yr |
| VGITVanguard Intermediate-Te | $43M | 2.7% | — | 1.8 yr |
| AAPLApple Inc. | $35M | 2.2% | +14.7% | 6.5 yr |
| IBDRiShares iBonds Dec 2026 | $34M | 2.1% | — | 2.5 yr |
| IBDSiShares iBonds Dec 2027 | $33M | 2.1% | — | 2.5 yr |
| IBDTiShares iBonds Dec 2028 | $33M | 2.1% | — | 2.5 yr |
| IBDViShares iBonds Dec 2030 | $33M | 2.0% | — | 0.5 yr |
| IVLUiShares MSCI Intl Value | $32M | 2.0% | — | 6.5 yr |
| VWOVanguard FTSE Emerging M | $29M | 1.8% | — | 6.5 yr |
| IBDUiShares iBonds Dec 2029 | $27M | 1.7% | — | 1.8 yr |
Portfolio composition (YoY)
Industry mix
Asset Management49.5%-4.6pp$794M
Asset Management - Bonds12.9%-2.1pp$206M
Asset Management - Income2.8%-0.5pp$45M
Semiconductors2.4%+1.4pp$38M
Consumer Electronics2.2%+0.1pp$36M
Drug Manufacturers - General2.2%+0.5pp$35M
Medical - Devices2.1%+0.2pp$34M
Unknown1.9%+1.7pp$30M
Banks - Diversified1.6%+0.6pp$25M
Internet Content & Information1.5%+0.7pp$24M
Country
US92.8%-3.0pp
Unknown1.9%+1.7pp
GB1.0%+0.1pp
CA0.9%+0.6pp
TW0.6%+0.3pp
IE0.5%-0.2pp
BR0.4%+0.2pp
CH0.4%+0.0pp
Top 5: 16.7% · Top 10: 28.4% · Top 25: 50.6%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| NVDA | $6M | +0.00B | 60.9% |
| AAPL | $25M | +0.00B | 14.7% |
| GMED | $20M | +0.00B | 17.7% |
| MSFT | $12M | -0.00B | -0.6% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| MSFT | $12M | -0.00B | -0.6% |
Top buys this quarter · 15
| HSDT Solana Companynew | +$8M |
| AAPL Apple Inc. | +$4M |
| SPY State Street SPDR S&P 500 ETF | +$3M |
| GOOG Alphabet Inc. | +$3M |
| NVDA NVIDIA Corporation | +$3M |
| AVGO Broadcom Inc. | +$2M |
| LIN Linde plc | +$2M |
| JPM JPMorgan Chase & Co. | +$2M |
| MA Mastercard Incorporated | +$2M |
| TSM Taiwan Semiconductor Manufactu | +$2M |
Top sells this quarter · 15
| LVS Las Vegas Sands Corp. | −$2M |
| BTI British American Tobacco p.l.c | −$1M |
| BX Blackstone Inc. | −$1M |
| PLTR Palantir Technologies Inc. | −$0M |
| NVRI Enviri Corporationexit | −$0M |
| KMB Kimberly-Clark Corporationexit | −$0M |
| HDB HDFC Bank Limitedexit | −$0M |
| PYPL PayPal Holdings, Inc.exit | −$0M |
| ADBE Adobe Inc. | −$0M |
| NPKI NPK International Inc.exit | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.60B | 616 | +16.33% | +17.59% | -1.26% | +0.16B |
| 2025-12-31 | $1.48B | 562 | +16.52% | +17.72% | -1.20% | +0.02B |
| 2025-09-30 | $1.40B | 520 | +12.85% | +17.52% | -4.67% | -0.01B |
| 2025-06-30 | $1.30B | 483 | +11.53% | +14.94% | -3.41% | +0.06B |
| 2025-03-31 | $1.17B | 432 | +8.31% | +8.30% | +0.00% | +0.09B |
| 2024-12-31 | $1.11B | 409 | +17.00% | +24.89% | -7.89% | +0.04B |
| 2024-09-30 | $1.06B | 379 | +33.10% | +36.04% | -2.94% | +0.04B |
| 2024-06-30 | $948M | 362 | +20.47% | +24.49% | -4.02% | +0.05B |
| 2024-03-31 | $873M | 316 | +26.13% | +29.62% | -3.49% | +0.06B |
| 2023-12-31 | $771M | 291 | +23.33% | +26.18% | -2.85% | -0.00B |
| 2023-09-30 | $674M | 263 | +15.29% | +21.57% | -6.28% | +0.05B |
| 2023-06-30 | $643M | 234 | +10.58% | +19.42% | -8.84% | -0.01B |
| 2023-03-31 | $609M | 225 | -11.84% | -7.82% | -4.02% | +0.02B |
| 2022-12-31 | $571M | 213 | -9.13% | -18.17% | +9.05% | +0.04B |
| 2022-09-30 | $502M | 164 | -6.53% | -4.93% | -1.61% | -0.01B |
| 2022-06-30 | $542M | 161 | -14.64% | -16.11% | +1.47% | +0.04B |