Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+1.36%
adds when stocks drop
when a holding falls −10%+
Middle response
-2.46%
baseline attrition
Rally response
-2.92%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| SPLGSPDR Portfolio S&P 500 E | $18M | 4.3% | — | 6.5 yr |
| BILSState Street SPDR Bloomb | $10M | 2.3% | — | 3.0 yr |
| RWLInvesco S&P 500 Revenue | $9M | 2.1% | — | 1.5 yr |
| RDVYFirst Trust Rising Divid | $8M | 2.0% | — | 5.5 yr |
| JAAAJanus Henderson AAA CLO | $8M | 1.8% | — | 1.5 yr |
| USFRWisdomTree Floating Rate | $7M | 1.6% | — | 4.0 yr |
| VBRVanguard Small-Cap Value | $7M | 1.6% | — | 4.3 yr |
| AAPLApple Inc. | $7M | 1.6% | +14.7% | 6.5 yr |
| SPDWState Street SPDR Portfo | $7M | 1.6% | — | 2.3 yr |
| FNDFSchwab Fundamental Inter | $6M | 1.5% | — | 4.3 yr |
| NVDANVIDIA Corporation | $6M | 1.5% | +60.9% | 6.5 yr |
| SPYDState Street SPDR Portfo | $6M | 1.4% | — | 1.3 yr |
| CGGRCapital Group Growth ETF | $6M | 1.4% | — | 2.8 yr |
| IMFLInvesco International De | $6M | 1.4% | — | 1.5 yr |
| QQQMInvesco NASDAQ 100 ETF | $6M | 1.4% | — | 3.0 yr |
Portfolio composition (YoY)
Industry mix
Asset Management63.2%+5.9pp$269M
Asset Management - Income4.8%+2.2pp$21M
Asset Management - Bonds3.9%-0.8pp$17M
Semiconductors2.8%+0.0pp$12M
Internet Content & Information1.9%+0.1pp$8M
Insurance - Diversified1.8%-0.3pp$8M
Consumer Electronics1.6%-0.7pp$7M
Software - Infrastructure1.4%-1.1pp$6M
Drug Manufacturers - General1.3%-0.8pp$5M
Oil & Gas Midstream1.2%-0.6pp$5M
Country
US96.9%-0.8pp
CA0.9%+0.0pp
CH0.3%-0.0pp
GB0.3%-0.2pp
TW0.3%
JP0.2%+0.2pp
NL0.2%-0.0pp
MC0.2%
Top 5: 12.5% · Top 10: 20.4% · Top 25: 39.4%
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| MSFT | $5M | -0.00B | -0.6% |
Top buys this quarter · 15
| STNG Scorpio Tankers Inc.new | +$1M |
| ASML ASML Holding N.V. | +$1M |
| HON Honeywell International Inc. | +$1M |
| TSM Taiwan Semiconductor Manufactu | +$1M |
| SHOP Shopify Inc. | +$1M |
| BBIO BridgeBio Pharma, Inc. | +$1M |
| CLF Cleveland-Cliffs Inc. | +$0M |
| RDW Redwire Corporationnew | +$0M |
| GRC The Gorman-Rupp Companynew | +$0M |
| DJT Trump Media & Technology Group | +$0M |
Top sells this quarter · 15
| KMI Kinder Morgan, Inc.exit | −$3M |
| VZ Verizon Communications Inc. | −$2M |
| MU Micron Technology, Inc. | −$2M |
| AMGN Amgen Inc. | −$2M |
| ADI Analog Devices, Inc.exit | −$2M |
| BP BP p.l.c.exit | −$1M |
| UPS United Parcel Service, Inc. | −$1M |
| F-PD Ford Motor Company 6.500% Note | −$1M |
| USB U.S. Bancorp | −$1M |
| BCE BCE Inc.exit | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $425M | 310 | +29.97% | +17.59% | +12.38% | +0.01B |
| 2025-12-31 | $413M | 298 | +22.52% | +17.72% | +4.80% | +0.02B |
| 2025-09-30 | $376M | 284 | +20.92% | +17.52% | +3.40% | -0.01B |
| 2025-06-30 | $349M | 284 | +16.22% | +14.94% | +1.27% | +0.01B |
| 2025-03-31 | $306M | 275 | +4.17% | +8.30% | -4.13% | +0.01B |
| 2024-12-31 | $307M | 266 | +17.92% | +24.89% | -6.97% | -0.01B |
| 2024-09-30 | $310M | 257 | +27.55% | +36.04% | -8.49% | +0.00B |
| 2024-06-30 | $288M | 245 | +16.21% | +24.49% | -8.28% | -0.00B |
| 2024-03-31 | $287M | 265 | +19.31% | +29.62% | -10.32% | +0.02B |
| 2023-12-31 | $243M | 230 | +13.22% | +26.18% | -12.96% | +0.02B |
| 2023-09-30 | $207M | 217 | +12.78% | +21.57% | -8.78% | +0.01B |
| 2023-06-30 | $201M | 212 | +10.63% | +19.42% | -8.79% | +0.01B |
| 2023-03-31 | $184M | 176 | -5.83% | -7.82% | +1.99% | -0.02B |
| 2022-12-31 | $196M | 223 | -12.58% | -18.17% | +5.60% | +0.02B |
| 2022-09-30 | $159M | 227 | -11.56% | -15.51% | +3.95% | -0.02B |
| 2022-06-30 | $192M | 1002 | -6.52% | -10.62% | +4.10% | +0.03B |