Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-3.05%
trims when stocks drop
when a holding falls −10%+
Middle response
-1.93%
baseline attrition
Rally response
+0.31%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| SPYState Street SPDR S&P 50 | $52M | 10.1% | +17.6% | 3.5 yr |
| METAMeta Platforms, Inc. | $26M | 5.2% | -0.4% | 3.5 yr |
| IVViShares Core S&P 500 ETF | $26M | 5.1% | — | 3.5 yr |
| BKNGBooking Holdings Inc. | $25M | 4.9% | -96.3% | 2.0 yr |
| VEAVanguard FTSE Developed | $23M | 4.5% | — | 3.5 yr |
| GOOGLAlphabet Inc. | $23M | 4.5% | — | 3.5 yr |
| VTIVanguard Total Stock Mar | $23M | 4.4% | — | 3.5 yr |
| GOOGAlphabet Inc. | $20M | 3.9% | +84.3% | 3.5 yr |
| AAPLApple Inc. | $17M | 3.3% | +14.7% | 3.5 yr |
| VIGVanguard Dividend Apprec | $15M | 3.0% | — | 3.5 yr |
| VOOVanguard S&P 500 ETF | $15M | 2.9% | — | 3.5 yr |
| LBRDKLiberty Broadband Corpor | $14M | 2.8% | — | 2.0 yr |
| AMZNAmazon.com, Inc. | $14M | 2.7% | +9.5% | 3.5 yr |
| VLYPNValley National Bancorp | $13M | 2.6% | — | 3.0 yr |
| VTVanguard Total World Sto | $12M | 2.3% | — | 3.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management48.1%+7.1pp$247M
Internet Content & Information13.7%+10.1pp$70M
Travel Services4.9%-10.3pp$25M
Consumer Electronics3.3%+0.3pp$17M
Semiconductors2.9%+1.4pp$15M
Telecommunications Services2.9%+2.5pp$15M
Banks - Regional2.8%+0.6pp$14M
Specialty Retail2.8%-0.5pp$14M
Banks - Diversified2.2%+0.3pp$11M
Drug Manufacturers - General2.2%+0.4pp$11M
Country
US96.4%+11.2pp
CA1.2%-0.1pp
GB0.7%-0.1pp
TW0.4%+0.1pp
Unknown0.3%-10.1pp
NL0.1%+0.1pp
SG0.1%+0.0pp
KR0.1%-0.1pp
Top 5: 29.8% · Top 10: 48.8% · Top 25: 73.9%
Top buys this quarter · 15
| SIRI Sirius XM Holdings Inc. | +$2M |
| SPY State Street SPDR S&P 500 ETF | +$52M |
| AZN AstraZeneca PLCnew | +$0M |
| STX Seagate Technology Holdings plnew | +$0M |
| AMAT Applied Materials, Inc.new | +$0M |
| MPC Marathon Petroleum Corporationnew | +$0M |
| SHEL Shell plc | +$0M |
| SE Sea Limited | +$0M |
| V Visa Inc. | +$0M |
| GSK GSK plc | +$0M |
Top sells this quarter · 15
| BKNG Booking Holdings Inc. | −$1M |
| CVNA Carvana Co.exit | −$0M |
| ASX ASE Technology Holding Co., Lt | −$0M |
| INFY Infosys Limitedexit | −$0M |
| TGNA TEGNA Inc.exit | −$0M |
| SAN Banco Santander, S.A. | −$0M |
| ANET Arista Networks, Inc.exit | −$0M |
| TLK Perusahaan Perseroan (Persero)exit | −$0M |
| ARES Ares Management Corporationexit | −$0M |
| ABT Abbott Laboratoriesexit | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $514M | 200 | -9.56% | +17.59% | -27.15% | +0.09B |
| 2025-12-31 | $577M | 204 | +15.46% | +17.72% | -2.26% | -0.03B |
| 2025-09-30 | $594M | 205 | +22.45% | +17.52% | +4.93% | -0.02B |
| 2025-06-30 | $588M | 235 | +25.29% | +14.94% | +10.34% | -0.01B |
| 2025-03-31 | $520M | 232 | +14.23% | +8.30% | +5.93% | +0.07B |
| 2024-12-31 | $472M | 203 | +30.12% | +24.89% | +5.23% | -0.02B |
| 2024-09-30 | $452M | 205 | +39.08% | +36.04% | +3.04% | +0.00B |
| 2024-06-30 | $425M | 206 | +27.03% | +24.49% | +2.54% | +0.05B |
| 2024-03-31 | $354M | 207 | +30.14% | +29.62% | +0.52% | +0.00B |
| 2023-12-31 | $327M | 189 | +27.48% | +26.18% | +1.30% | +0.02B |
| 2023-09-30 | $269M | 173 | -2.77% | -3.22% | +0.46% | -0.03B |
| 2023-06-30 | $309M | 196 | +7.88% | +8.68% | -0.80% | +0.06B |
| 2023-03-31 | $229M | 152 | +5.50% | +7.46% | -1.96% | +0.00B |
| 2022-12-31 | $216M | 163 | — | — | — | — |