Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-5.93%
trims when stocks drop
when a holding falls −10%+
Middle response
-3.97%
baseline attrition
Rally response
-3.97%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| IEFAiShares Core MSCI EAFE E | $160M | 9.9% | — | 3.5 yr |
| DFEMDimensional - Emerging M | $93M | 5.7% | — | 3.0 yr |
| GLDMSPDR Gold MiniShares Tru | $58M | 3.6% | — | 4.0 yr |
| AIRRFirst Trust RBA American | $57M | 3.5% | — | 1.3 yr |
| MUBiShares National Muni Bo | $56M | 3.5% | — | 5.5 yr |
| AVUVAvantis U.S. Small Cap V | $51M | 3.2% | — | 4.5 yr |
| QQQInvesco QQQ Trust, Serie | $48M | 3.0% | — | 6.3 yr |
| DBMFiMGP DBi Managed Futures | $46M | 2.9% | — | 1.3 yr |
| XLREState Street Real Estate | $43M | 2.7% | — | 0.5 yr |
| NVDANVIDIA Corporation | $38M | 2.4% | +60.9% | 6.5 yr |
| AAPLApple Inc. | $38M | 2.4% | +14.7% | 6.5 yr |
| COINCoinbase Global, Inc. | $35M | 2.2% | +1.4% | 4.8 yr |
| IAUiShares Gold Trust | $29M | 1.8% | — | 4.8 yr |
| MSFTMicrosoft Corporation | $28M | 1.8% | -0.6% | 6.5 yr |
| GOOGLAlphabet Inc. | $27M | 1.7% | — | 6.3 yr |
Portfolio composition (YoY)
Industry mix
Asset Management50.0%+4.7pp$807M
Semiconductors5.4%+1.4pp$88M
Asset Management - Bonds3.6%-2.4pp$58M
Industrial - Machinery3.2%+0.5pp$52M
Software - Infrastructure3.1%-0.7pp$49M
Consumer Electronics2.4%-0.5pp$38M
Financial - Data & Stock Exchanges2.3%-1.2pp$38M
Internet Content & Information2.3%+1.0pp$37M
Drug Manufacturers - General1.6%+0.7pp$25M
Banks - Diversified1.5%-0.2pp$25M
Country
US97.5%+0.9pp
IE1.0%-0.9pp
GB0.6%-0.0pp
CH0.6%-0.1pp
SG0.1%+0.0pp
BM0.1%
Unknown0.1%+0.0pp
CA0.1%-0.0pp
Top 5: 26.2% · Top 10: 40.3% · Top 25: 62.3%
Top buys this quarter · 15
| PNC The PNC Financial Services Gro | +$5M |
| MET MetLife, Inc.new | +$4M |
| ROP Roper Technologies, Inc. | +$3M |
| MSFT Microsoft Corporation | +$28M |
| SPGI S&P Global Inc.new | +$1M |
| CQP Cheniere Energy Partners, L.P.new | +$1M |
| GOOG Alphabet Inc. | +$7M |
| SYY Sysco Corporationnew | +$1M |
| WMT Walmart Inc. | +$1M |
| EFX Equifax Inc.new | +$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.61B | 433 | +17.86% | +17.59% | +0.27% | +0.02B |
| 2025-12-31 | $1.62B | 418 | +11.22% | +17.72% | -6.49% | +0.05B |
| 2025-09-30 | $1.60B | 354 | +19.79% | +17.52% | +2.28% | +0.16B |
| 2025-06-30 | $1.34B | 295 | +15.37% | +14.94% | +0.43% | -0.03B |
| 2025-03-31 | $1.19B | 285 | -2.54% | +8.30% | -10.85% | +0.01B |
| 2024-12-31 | $1.27B | 237 | +21.13% | +24.89% | -3.76% | +0.01B |
| 2024-09-30 | $1.20B | 234 | +39.56% | +36.04% | +3.52% | +0.09B |
| 2024-06-30 | $1.08B | 193 | +28.07% | +24.49% | +3.58% | +0.00B |
| 2024-03-31 | $1.11B | 189 | +42.42% | +29.62% | +12.80% | -0.12B |
| 2023-12-31 | $1.07B | 186 | +33.28% | +26.18% | +7.10% | -0.10B |
| 2023-09-30 | $963M | 182 | +14.83% | +21.57% | -6.74% | +0.03B |
| 2023-06-30 | $991M | 180 | +15.68% | +19.42% | -3.75% | -0.04B |
| 2023-03-31 | $957M | 186 | -17.26% | -7.82% | -9.44% | -0.04B |
| 2022-12-31 | $922M | 193 | -26.68% | -18.17% | -8.50% | +0.00B |
| 2022-09-30 | $882M | 192 | -22.05% | -15.51% | -6.54% | -0.07B |
| 2022-06-30 | $996M | 208 | -17.68% | -10.62% | -7.06% | +0.17B |