Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-1.31%
trims when stocks drop
when a holding falls −10%+
Middle response
-1.41%
baseline attrition
Rally response
+0.65%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| SCHXSchwab U.S. Large-Cap ET | $60M | 6.6% | — | 3.3 yr |
| QQQMInvesco NASDAQ 100 ETF | $51M | 5.6% | — | 1.5 yr |
| DYNFiShares U.S. Equity Fact | $39M | 4.2% | — | 2.3 yr |
| IGIBiShares 5-10 Year Invest | $37M | 4.1% | — | 2.3 yr |
| RWLInvesco S&P 500 Revenue | $30M | 3.3% | — | 0.8 yr |
| — | $29M | 3.2% | — | 0.3 yr |
| SPLGSPDR Portfolio S&P 500 E | $28M | 3.0% | — | 3.3 yr |
| SPYVState Street SPDR Portfo | $26M | 2.9% | — | 2.3 yr |
| QUALiShares MSCI USA Quality | $25M | 2.7% | — | 3.3 yr |
| FTCSFirst Trust Capital Stre | $24M | 2.7% | — | 4.5 yr |
| TLTiShares 20+ Year Treasur | $24M | 2.6% | — | 3.3 yr |
| VOOVanguard S&P 500 ETF | $22M | 2.4% | — | 2.8 yr |
| RECSColumbia Research Enhanc | $21M | 2.3% | — | 1.5 yr |
| BAIiShares A.I. Innovation | $21M | 2.3% | — | 1.0 yr |
| IVEiShares S&P 500 Value ET | $19M | 2.1% | — | 1.3 yr |
Portfolio composition (YoY)
Industry mix
Asset Management82.5%-2.7pp$753M
Asset Management - Bonds6.1%-1.5pp$56M
Unknown3.6%$32M
Asset Management - Income1.1%-0.2pp$10M
Software - Infrastructure1.0%-0.2pp$9M
Aerospace & Defense0.7%+0.1pp$7M
Semiconductors0.6%+0.2pp$5M
Consumer Electronics0.4%-0.1pp$4M
Banks - Diversified0.4%+0.3pp$4M
Asset Management - Leveraged0.4%-0.1pp$4M
Country
US96.0%-3.7pp
Unknown3.6%
GB0.3%-0.0pp
TW0.0%
CA0.0%
AU0.0%
IE0.0%
CN0.0%
Top 5: 23.9% · Top 10: 38.3% · Top 25: 66.7%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Top buys this quarter · 15
| PEG Public Service Enterprise Grou | +$0M |
| NVDA NVIDIA Corporation | +$0M |
| BA The Boeing Company | +$0M |
| TSM Taiwan Semiconductor Manufactu | +$0M |
| GE GE Aerospace | +$0M |
| T AT&T Inc. | +$0M |
| F-PD Ford Motor Company 6.500% Note | +$0M |
| LMT Lockheed Martin Corporation | +$0M |
| LLY Eli Lilly and Company | +$0M |
| AHR American Healthcare REIT, Inc.new | +$0M |
Top sells this quarter · 15
| PG The Procter & Gamble Company | −$1M |
| USFD US Foods Holding Corp. | −$0M |
| TMO Thermo Fisher Scientific Inc. | −$0M |
| MU Micron Technology, Inc. | −$0M |
| JNJ Johnson & Johnson | −$0M |
| PSX Phillips 66 | −$0M |
| MCD McDonald's Corporation | −$0M |
| FIX Comfort Systems USA, Inc. | −$0M |
| DAL Delta Air Lines, Inc. | −$0M |
| AVGO Broadcom Inc. | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $913M | 754 | +30.03% | +17.59% | +12.44% | +0.31B |
| 2025-12-31 | $592M | 460 | +21.26% | +17.72% | +3.54% | +0.01B |
| 2025-09-30 | $567M | 466 | +17.36% | +17.52% | -0.16% | +0.00B |
| 2025-06-30 | $504M | 462 | +17.35% | +14.94% | +2.41% | -0.27B |
| 2025-03-31 | $702M | 118 | +14.14% | +8.30% | +5.84% | +0.03B |
| 2024-12-31 | $708M | 110 | +26.09% | +24.89% | +1.21% | +0.09B |
| 2024-09-30 | $619M | 89 | +39.98% | +36.04% | +3.94% | +0.35B |
| 2024-06-30 | $243M | 444 | +17.86% | +24.49% | -6.63% | +0.01B |
| 2024-03-31 | $216M | 410 | +20.28% | +29.62% | -9.34% | -0.29B |
| 2023-12-31 | $486M | 720 | +28.29% | +26.18% | +2.11% | +0.03B |
| 2023-09-30 | $412M | 72 | +18.52% | +21.57% | -3.05% | +0.02B |
| 2023-06-30 | $418M | 72 | +19.62% | +19.42% | +0.19% | -0.02B |
| 2023-03-31 | $397M | 70 | -5.94% | -7.82% | +1.88% | -0.02B |
| 2022-12-31 | $373M | 52 | +2.42% | +7.56% | -5.14% | +0.04B |
| 2022-09-30 | $321M | 54 | -4.55% | -4.93% | +0.38% | +0.04B |
| 2022-06-30 | $293M | 55 | -14.11% | -16.11% | +2.00% | +0.02B |