Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-2.41%
trims when stocks drop
when a holding falls −10%+
Middle response
-2.59%
baseline attrition
Rally response
-2.68%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| VOOVanguard S&P 500 ETF | $21M | 10.9% | — | 3.5 yr |
| GLDSPDR Gold Shares | $10M | 5.1% | — | 3.5 yr |
| KOThe Coca-Cola Company | $9M | 4.8% | +9.3% | 3.5 yr |
| SPYState Street SPDR S&P 50 | $9M | 4.6% | +17.6% | 3.5 yr |
| IVViShares Core S&P 500 ETF | $9M | 4.6% | — | 3.5 yr |
| IAUiShares Gold Trust | $7M | 3.4% | — | 3.5 yr |
| VYMVanguard High Dividend Y | $6M | 3.3% | — | 3.5 yr |
| AAPLApple Inc. | $6M | 3.0% | +14.7% | 3.5 yr |
| MSFTMicrosoft Corporation | $6M | 2.9% | -0.6% | 3.5 yr |
| VBVanguard Small-Cap ETF | $4M | 2.0% | — | 3.5 yr |
| NVDANVIDIA Corporation | $4M | 1.9% | +60.9% | 3.3 yr |
| AMZNAmazon.com, Inc. | $2M | 1.3% | +9.5% | 3.5 yr |
| GOOGLAlphabet Inc. | $2M | 1.0% | — | 3.5 yr |
| VOVanguard Mid-Cap ETF | $2M | 0.9% | — | 3.5 yr |
| IEFiShares 7-10 Year Treasu | $2M | 0.9% | — | 2.8 yr |
Portfolio composition (YoY)
Industry mix
Asset Management45.0%-21.4pp$87M
Beverages - Non-Alcoholic5.2%+4.9pp$10M
Semiconductors4.4%+1.6pp$9M
Software - Infrastructure3.8%-0.5pp$7M
Consumer Electronics3.0%-1.3pp$6M
Drug Manufacturers - General2.3%+0.7pp$4M
Internet Content & Information2.2%+0.3pp$4M
Specialty Retail1.5%-0.5pp$3M
Discount Stores1.4%+0.1pp$3M
Biotechnology1.4%$3M
Country
US97.7%-1.5pp
GB0.7%
CH0.5%
CA0.4%-0.1pp
IE0.3%+0.1pp
AU0.1%
Unknown0.1%
BM0.1%
Top 5: 30.0% · Top 10: 44.6% · Top 25: 57.8%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| NVDA | $3M | +0.00B | 60.9% |
| SPY | $9M | +0.00B | 17.6% |
| AAPL | $7M | +0.00B | 14.7% |
| GOOG | $1M | +0.00B | 84.3% |
| AVGO | $1M | +0.00B | 86.0% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| MSFT | $6M | -0.00B | -0.6% |
Top buys this quarter · 15
| SPGI S&P Global Inc.new | +$1M |
| DOW Dow Inc.new | +$0M |
| ADBE Adobe Inc. | +$0M |
| MHK Mohawk Industries, Inc.new | +$0M |
| FIVE Five Below, Inc.new | +$0M |
| AKAM Akamai Technologies, Inc.new | +$0M |
| LITE Lumentum Holdings Inc.new | +$0M |
| OWL Blue Owl Capital Inc.new | +$0M |
| S SentinelOne, Inc.new | +$0M |
| PYPL PayPal Holdings, Inc. | +$0M |
Top sells this quarter · 15
| AAPL Apple Inc. | −$3M |
| SPY State Street SPDR S&P 500 ETF | −$2M |
| NVDA NVIDIA Corporation | −$2M |
| 0HQN.L Cboe Global Markets, Inc.exit | −$1M |
| ASTS AST SpaceMobile, Inc.exit | −$1M |
| GOOG Alphabet Inc. | −$1M |
| MSFT Microsoft Corporation | −$1M |
| COST Costco Wholesale Corporation | −$1M |
| AMZN Amazon.com, Inc. | −$1M |
| JPM JPMorgan Chase & Co. | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $193M | 228 | +22.61% | +17.59% | +5.02% | -0.08B |
| 2025-12-31 | $273M | 283 | +17.97% | +17.72% | +0.25% | +0.01B |
| 2025-09-30 | $253M | 266 | +16.85% | +17.52% | -0.67% | +0.04B |
| 2025-06-30 | $202M | 192 | +13.73% | +14.94% | -1.22% | +0.02B |
| 2025-03-31 | $159M | 118 | +7.25% | +8.30% | -1.05% | +0.01B |
| 2024-12-31 | $153M | 97 | +20.94% | +24.89% | -3.94% | +0.00B |
| 2024-09-30 | $148M | 101 | +32.25% | +36.04% | -3.79% | +0.01B |
| 2024-06-30 | $131M | 88 | +22.13% | +24.49% | -2.36% | -0.01B |
| 2024-03-31 | $130M | 95 | +29.12% | +29.62% | -0.51% | +0.00B |
| 2023-12-31 | $117M | 93 | +32.91% | +26.18% | +6.73% | -0.00B |
| 2023-09-30 | $106M | 88 | -3.05% | -3.22% | +0.17% | -0.00B |
| 2023-06-30 | $112M | 86 | +11.01% | +8.68% | +2.33% | -0.03B |
| 2023-03-31 | $129M | 89 | +10.21% | +7.46% | +2.75% | -0.01B |
| 2022-12-31 | $124M | 91 | — | — | — | — |