Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-20.55%
trims when stocks drop
when a holding falls −10%+
Middle response
-6.81%
baseline attrition
Rally response
-10.00%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| IEFAiShares Core MSCI EAFE E | $139M | 8.0% | — | 5.5 yr |
| VONVVanguard Russell 1000 Va | $102M | 5.9% | — | 5.3 yr |
| VONGVanguard Russell 1000 Gr | $95M | 5.5% | — | 5.3 yr |
| NVDANVIDIA Corporation | $84M | 4.9% | +60.9% | 5.3 yr |
| SGOViShares 0-3 Month Treasu | $65M | 3.8% | — | 0.8 yr |
| AMGNAmgen Inc. | $61M | 3.6% | +16.5% | 5.3 yr |
| GUNRFlexShares Morningstar G | $59M | 3.4% | — | 5.5 yr |
| AAPLApple Inc. | $51M | 2.9% | +14.7% | 5.3 yr |
| IEMGiShares Core MSCI Emergi | $45M | 2.6% | — | 5.5 yr |
| MBXMBX Biosciences, Inc. Co | $35M | 2.0% | +304.5% | 1.3 yr |
| MSFTMicrosoft Corporation | $35M | 2.0% | -0.6% | 5.3 yr |
| VBRVanguard Small-Cap Value | $33M | 1.9% | — | 5.3 yr |
| LMBSFirst Trust Low Duration | $30M | 1.8% | — | 2.8 yr |
| VBKVanguard Small-Cap Growt | $29M | 1.7% | — | 5.3 yr |
| GOOGLAlphabet Inc. | $22M | 1.3% | — | 5.3 yr |
Portfolio composition (YoY)
Industry mix
Asset Management32.5%-9.7pp$562M
Semiconductors9.0%+5.2pp$156M
Drug Manufacturers - General6.2%-3.1pp$108M
Asset Management - Bonds4.4%+3.2pp$76M
Asset Management - Global4.2%+0.5pp$72M
Consumer Electronics3.1%+0.2pp$53M
Internet Content & Information3.0%+0.9pp$53M
Software - Infrastructure2.8%-0.7pp$49M
Biotechnology2.5%+1.8pp$42M
Banks - Diversified2.3%+0.3pp$39M
Country
US92.2%-1.3pp
GB1.5%+0.1pp
TW1.1%+0.7pp
JP0.7%-0.1pp
IE0.7%-0.2pp
NL0.6%+0.1pp
CH0.4%+0.1pp
CA0.4%+0.1pp
Top 5: 28.0% · Top 10: 42.5% · Top 25: 59.5%
Top buys this quarter · 15
| MBX MBX Biosciences, Inc. Common S | +$33M |
| TSM Taiwan Semiconductor Manufactu | +$6M |
| AMGN Amgen Inc. | +$3M |
| AZN AstraZeneca PLCnew | +$1M |
| ASML ASML Holding N.V. | +$1M |
| BABA Alibaba Group Holding Limited | +$1M |
| BA The Boeing Company | +$1M |
| SHEL Shell plc | +$1M |
| HSBC HSBC Holdings plc | +$1M |
| IBN ICICI Bank Limited | +$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.73B | 690 | +17.20% | +17.59% | -0.39% | -0.02B |
| 2025-12-31 | $1.80B | 673 | +20.03% | +17.72% | +2.32% | +0.08B |
| 2025-09-30 | $1.65B | 627 | +13.46% | +17.52% | -4.06% | +0.61B |
| 2025-06-30 | $979M | 488 | +14.50% | +14.94% | -0.44% | +0.03B |
| 2025-03-31 | $872M | 449 | +10.00% | +8.30% | +1.69% | +0.01B |
| 2024-12-31 | $861M | 449 | +20.38% | +24.89% | -4.50% | +0.04B |
| 2024-09-30 | $840M | 427 | +38.45% | +36.04% | +2.41% | +0.06B |
| 2024-06-30 | $720M | 326 | +28.59% | +24.49% | +4.10% | -0.01B |
| 2024-03-31 | $698M | 309 | +30.45% | +29.62% | +0.83% | +0.04B |
| 2023-12-31 | $603M | 256 | +27.05% | +26.18% | +0.87% | -0.27B |
| 2023-09-30 | $775M | 258 | +21.31% | +21.57% | -0.26% | +0.00B |
| 2023-06-30 | $769M | 252 | +16.30% | +19.42% | -3.13% | +0.00B |
| 2023-03-31 | $727M | 251 | -2.66% | -7.82% | +5.16% | +0.01B |
| 2022-12-31 | $675M | 243 | -10.55% | -18.17% | +7.62% | +0.09B |
| 2022-09-30 | $542M | 221 | -7.82% | -15.51% | +7.69% | +0.16B |
| 2022-06-30 | $398M | 191 | -3.53% | -10.62% | +7.09% | -3.58B |