Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-5.50%
trims when stocks drop
when a holding falls −10%+
Middle response
-2.27%
baseline attrition
Rally response
-4.81%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| IUSViShares Core S&P U.S. Va | $37M | 13.9% | — | 5.5 yr |
| IUSGiShares Core S&P U.S. Gr | $35M | 13.3% | — | 6.5 yr |
| VOVanguard Mid-Cap ETF | $19M | 7.2% | — | 2.3 yr |
| AAPLApple Inc. | $7M | 2.8% | +14.7% | 6.5 yr |
| SPYState Street SPDR S&P 50 | $6M | 2.3% | +17.6% | 6.5 yr |
| GOOGLAlphabet Inc. | $5M | 1.9% | — | 6.5 yr |
| NVDANVIDIA Corporation | $5M | 1.8% | +60.9% | 6.0 yr |
| REGNRegeneron Pharmaceutical | $4M | 1.6% | +22.5% | 6.5 yr |
| MSFTMicrosoft Corporation | $4M | 1.5% | -0.6% | 6.5 yr |
| AMZNAmazon.com, Inc. | $4M | 1.3% | +9.5% | 6.5 yr |
| TSMTaiwan Semiconductor Man | $3M | 1.1% | +105.6% | 6.5 yr |
| MDYState Street SPDR S&P MI | $3M | 1.0% | — | 4.5 yr |
| AVGOBroadcom Inc. | $2M | 0.9% | +86.0% | 6.0 yr |
| AXPAmerican Express Company | $2M | 0.8% | +13.3% | 6.5 yr |
| IWFiShares Russell 1000 Gro | $2M | 0.8% | — | 6.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management50.7%+4.3pp$135M
Semiconductors6.0%+2.8pp$16M
Aerospace & Defense3.5%+0.9pp$9M
Internet Content & Information3.4%+0.8pp$9M
Consumer Electronics2.8%-0.3pp$7M
Drug Manufacturers - General2.0%-0.2pp$5M
Biotechnology1.8%-0.8pp$5M
Software - Infrastructure1.8%-0.6pp$5M
Computer Hardware1.7%+0.7pp$5M
Gold1.7%+0.7pp$4M
Country
US92.8%-0.6pp
CA2.9%+1.0pp
TW1.1%+0.5pp
Unknown0.9%+0.5pp
SG0.6%+0.2pp
GB0.4%-0.5pp
NL0.3%+0.2pp
CH0.3%+0.1pp
Top 5: 39.4% · Top 10: 47.6% · Top 25: 59.4%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| NVDA | $3M | +0.00B | 60.9% |
| TSM | $1M | +0.00B | 105.6% |
| SPY | $7M | +0.00B | 17.6% |
| GEV | $1M | +0.00B | 186.8% |
| AAPL | $8M | +0.00B | 14.7% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| MSFT | $5M | -0.00B | -0.6% |
Top buys this quarter · 15
| CVX Chevron Corporation | +$0M |
| ERO Ero Copper Corp.new | +$0M |
| VALE Vale S.A.new | +$0M |
| QBTS D-Wave Quantum Inc. | +$1M |
| NVS Novartis AG | +$0M |
| SXC SunCoke Energy, Inc. | +$0M |
| ASM Avino Silver & Gold Mines Ltd.new | +$0M |
| KRP Kimbell Royalty Partners, LP | +$0M |
| AVAV AeroVironment, Inc. | +$1M |
| DVN Devon Energy Corporation | +$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $266M | 200 | +29.02% | +17.59% | +11.43% | -0.06B |
| 2025-12-31 | $322M | 234 | +22.83% | +17.72% | +5.11% | +0.00B |
| 2025-09-30 | $311M | 238 | +19.76% | +17.52% | +2.24% | -0.01B |
| 2025-06-30 | $288M | 238 | +15.28% | +14.94% | +0.34% | +0.00B |
| 2025-03-31 | $255M | 222 | +6.41% | +8.30% | -1.89% | -0.01B |
| 2024-12-31 | $275M | 223 | +20.67% | +24.89% | -4.21% | +0.01B |
| 2024-09-30 | $262M | 202 | +33.03% | +36.04% | -3.01% | +0.01B |
| 2024-06-30 | $240M | 193 | +22.57% | +24.49% | -1.93% | -0.02B |
| 2024-03-31 | $257M | 206 | +24.55% | +29.62% | -5.07% | -0.02B |
| 2023-12-31 | $249M | 206 | +19.55% | +26.18% | -6.63% | +0.01B |
| 2023-09-30 | $215M | 197 | +17.77% | +21.57% | -3.79% | -0.01B |
| 2023-06-30 | $235M | 216 | +17.76% | +19.42% | -1.66% | +0.01B |
| 2023-03-31 | $217M | 203 | -2.67% | -7.82% | +5.15% | -0.00B |
| 2022-12-31 | $209M | 193 | -11.96% | -18.17% | +6.22% | +0.01B |
| 2022-09-30 | $183M | 176 | -10.67% | -15.51% | +4.84% | -0.00B |
| 2022-06-30 | $188M | 184 | -8.03% | -10.62% | +2.59% | -0.02B |