Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+2.90%
adds when stocks drop
when a holding falls −10%+
Middle response
-12.73%
baseline attrition
Rally response
-22.31%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| EWYiShares MSCI South Korea | $35M | 0.6% | — | 0.8 yr |
| SPYState Street SPDR S&P 50 | $28M | 0.5% | +17.6% | 2.0 yr |
| DIAState Street SPDR Dow Jo | $25M | 0.4% | — | 1.5 yr |
| CMECME Group Inc. | $23M | 0.4% | +15.6% | 4.3 yr |
| NVDANVIDIA Corporation | $22M | 0.4% | +60.9% | 3.5 yr |
| CCitigroup Inc. | $20M | 0.3% | +63.9% | 2.0 yr |
| DUKDuke Energy Corporation | $20M | 0.3% | +11.2% | 1.5 yr |
| GSThe Goldman Sachs Group, | $19M | 0.3% | +58.1% | 3.3 yr |
| GEGE Aerospace | $19M | 0.3% | +42.5% | 3.5 yr |
| BSXBoston Scientific Corpor | $18M | 0.3% | -37.8% | 2.3 yr |
| PHParker-Hannifin Corporat | $18M | 0.3% | +48.6% | 3.0 yr |
| AMZNAmazon.com, Inc. | $17M | 0.3% | +9.5% | 3.8 yr |
| AEPAmerican Electric Power | $17M | 0.3% | +24.0% | 1.8 yr |
| VVisa Inc. | $16M | 0.3% | -13.1% | 3.3 yr |
| DOWDow Inc. | $16M | 0.3% | +27.4% | 2.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management8.1%+3.3pp$465M
Biotechnology4.5%+0.7pp$256M
Software - Application4.2%-0.2pp$240M
Banks - Regional3.9%+0.7pp$226M
Unknown3.4%+0.4pp$196M
Software - Infrastructure2.9%-0.3pp$169M
Semiconductors2.8%-0.2pp$163M
Industrial - Machinery2.5%+0.4pp$144M
Regulated Electric2.1%+0.7pp$122M
Aerospace & Defense2.0%-0.2pp$115M
Country
US82.8%-0.4pp
Unknown3.4%+0.4pp
CA2.7%-0.4pp
GB2.0%+0.0pp
IE1.0%-0.8pp
BM0.9%+0.2pp
CN0.8%-0.5pp
CH0.6%+0.5pp
Top 5: 2.3% · Top 10: 4.0% · Top 25: 8.1%
Top buys this quarter · 15
| DUK Duke Energy Corporation | +$19M |
| GE GE Aerospace | +$19M |
| GS The Goldman Sachs Group, Inc. | +$18M |
| AEP American Electric Power Compan | +$16M |
| PH Parker-Hannifin Corporation | +$16M |
| OTIS Otis Worldwide Corporation | +$15M |
| BSX Boston Scientific Corporation | +$15M |
| COF Capital One Financial Corporat | +$14M |
| C Citigroup Inc. | +$14M |
| NET Cloudflare, Inc. | +$13M |
Top sells this quarter · 15
| PG The Procter & Gamble Companyexit | −$28M |
| JPM JPMorgan Chase & Co. | −$23M |
| KR The Kroger Co. | −$19M |
| AAPL Apple Inc. | −$16M |
| TMUS T-Mobile US, Inc.exit | −$16M |
| LITE Lumentum Holdings Inc. | −$4M |
| T AT&T Inc. | −$12M |
| ETN Eaton Corporation plc | −$12M |
| REGN Regeneron Pharmaceuticals, Inc | −$12M |
| MPC Marathon Petroleum Corporation | −$11M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $5.74B | 3764 | +24.75% | +17.59% | +7.16% | +1.91B |
| 2025-12-31 | $3.80B | 3245 | +18.52% | +17.72% | +0.80% | +1.77B |
| 2025-09-30 | $1.92B | 2467 | +15.88% | +17.52% | -1.64% | -0.70B |
| 2025-06-30 | $2.40B | 2269 | +12.00% | +14.94% | -2.95% | +0.31B |
| 2025-03-31 | $1.95B | 2326 | +0.12% | +8.30% | -8.19% | +0.81B |
| 2024-12-31 | $1.19B | 2205 | +10.41% | +24.89% | -14.48% | -0.22B |
| 2024-09-30 | $1.37B | 2008 | +19.51% | +36.04% | -16.53% | +0.14B |
| 2024-06-30 | $1.17B | 1780 | +4.36% | +24.49% | -20.13% | +0.46B |
| 2024-03-31 | $740M | 1768 | +15.63% | +29.62% | -13.99% | +0.26B |
| 2023-12-31 | $456M | 1509 | +15.73% | +26.18% | -10.45% | -0.20B |
| 2023-09-30 | $584M | 1500 | +4.89% | +21.57% | -16.67% | +0.07B |
| 2023-06-30 | $557M | 1351 | -0.47% | +19.42% | -19.89% | +0.05B |
| 2023-03-31 | $477M | 1216 | -22.89% | -7.82% | -15.07% | -0.02B |
| 2022-12-31 | $471M | 1070 | +1.20% | +7.56% | -6.36% | +0.06B |
| 2022-09-30 | $403M | 1061 | -12.55% | -4.93% | -7.62% | +0.19B |
| 2022-06-30 | $245M | 809 | -17.67% | -16.11% | -1.56% | +0.06B |