Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-2.66%
trims when stocks drop
when a holding falls −10%+
Middle response
-3.28%
baseline attrition
Rally response
-7.22%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| SCHGSchwab U.S. Large-Cap Gr | $48M | 3.9% | — | 6.5 yr |
| DGROiShares Core Dividend Gr | $40M | 3.3% | — | 6.3 yr |
| SCHVSchwab U.S. Large-Cap Va | $38M | 3.1% | — | 6.5 yr |
| IWFiShares Russell 1000 Gro | $30M | 2.5% | — | 6.5 yr |
| IWBiShares Russell 1000 ETF | $29M | 2.4% | — | 6.5 yr |
| AAPLApple Inc. | $29M | 2.4% | +14.7% | 6.5 yr |
| VGTVanguard Information Tec | $25M | 2.1% | — | 6.3 yr |
| IVViShares Core S&P 500 ETF | $24M | 1.9% | — | 6.5 yr |
| IWRiShares Russell Mid-Cap | $23M | 1.9% | — | 6.5 yr |
| MSFTMicrosoft Corporation | $21M | 1.7% | -0.6% | 6.5 yr |
| PTYPIMCO Corporate & Income | $19M | 1.6% | — | 5.8 yr |
| GLDSPDR Gold Shares | $18M | 1.5% | — | 6.5 yr |
| CORPPIMCO Investment Grade C | $18M | 1.5% | — | 2.5 yr |
| CWBState Street SPDR Bloomb | $17M | 1.4% | — | 6.5 yr |
| BRK-BBerkshire Hathaway Inc. | $16M | 1.3% | — | 6.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management51.8%+3.8pp$631M
Asset Management - Bonds5.3%-0.5pp$64M
Asset Management - Income3.8%+0.1pp$46M
Drug Manufacturers - General3.4%-0.2pp$42M
Semiconductors3.2%+0.8pp$39M
Consumer Electronics2.4%-0.3pp$29M
Banks - Diversified2.1%-0.3pp$26M
Software - Infrastructure2.1%-0.3pp$25M
Aerospace & Defense2.0%+0.2pp$24M
Internet Content & Information1.6%+0.7pp$19M
Country
US98.1%+0.8pp
CA0.6%+0.4pp
Unknown0.5%-0.8pp
IE0.3%+0.0pp
GB0.2%-0.6pp
TW0.2%+0.1pp
CH0.1%-0.0pp
AU0.1%+0.0pp
Top 5: 15.2% · Top 10: 25.3% · Top 25: 43.2%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| JNJ | $12M | +0.01B | 51.5% |
| AAPL | $29M | +0.00B | 14.7% |
| NVDA | $7M | +0.00B | 60.9% |
| JPM | $11M | +0.00B | 21.8% |
| AMZN | $10M | +0.00B | 9.5% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| MSFT | $23M | -0.00B | -0.6% |
Top buys this quarter · 15
| AZN AstraZeneca PLCnew | +$1M |
| NVDA NVIDIA Corporation | +$12M |
| PLTR Palantir Technologies Inc. | +$0M |
| FIX Comfort Systems USA, Inc.new | +$0M |
| GOOG Alphabet Inc. | +$7M |
| CIEN Ciena Corporationnew | +$0M |
| WDC Western Digital Corporationnew | +$0M |
| MSFT Microsoft Corporation | +$21M |
| SPY State Street SPDR S&P 500 ETF | +$0M |
| AGI Alamos Gold Inc.new | +$0M |
Top sells this quarter · 15
| WPC W. P. Carey Inc.exit | −$2M |
| CVX Chevron Corporation | −$6M |
| ONDS Ondas Holdings Inc. | −$1M |
| EMR Emerson Electric Co. | −$1M |
| MGM MGM Resorts Internationalexit | −$1M |
| GOOD Gladstone Commercial Corporati | −$1M |
| LPLA LPL Financial Holdings Inc.exit | −$0M |
| GS The Goldman Sachs Group, Inc. | −$0M |
| RIOT Riot Platforms, Inc.exit | −$0M |
| PSA Public Storage | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.22B | 420 | +19.53% | +17.59% | +1.94% | +0.00B |
| 2025-12-31 | $1.21B | 440 | +17.79% | +17.72% | +0.07% | -0.05B |
| 2025-09-30 | $1.21B | 390 | +12.72% | +17.52% | -4.79% | -0.03B |
| 2025-06-30 | $1.15B | 375 | +11.87% | +14.94% | -3.07% | +0.01B |
| 2025-03-31 | $1.07B | 357 | +7.31% | +8.30% | -0.99% | -0.01B |
| 2024-12-31 | $1.09B | 356 | +15.66% | +24.89% | -9.23% | +0.02B |
| 2024-09-30 | $1.08B | 348 | +29.04% | +36.04% | -7.00% | +0.02B |
| 2024-06-30 | $994M | 337 | +13.97% | +24.49% | -10.52% | -0.00B |
| 2024-03-31 | $977M | 340 | +15.97% | +29.62% | -13.66% | -0.04B |
| 2023-12-31 | $948M | 332 | +8.96% | +26.18% | -17.21% | +0.02B |
| 2023-09-30 | $834M | 316 | -0.34% | +21.57% | -21.91% | +0.02B |
| 2023-06-30 | $864M | 341 | -4.39% | +19.42% | -23.82% | +0.01B |
| 2023-03-31 | $821M | 334 | -21.11% | -7.82% | -13.30% | +0.02B |
| 2022-12-31 | $796M | 330 | -25.11% | -18.17% | -6.93% | +0.07B |
| 2022-09-30 | $720M | 316 | -17.83% | -15.51% | -2.32% | +0.32B |
| 2022-06-30 | $442M | 231 | -8.71% | -10.62% | +1.91% | -0.28B |