Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-0.26%
trims when stocks drop
when a holding falls −10%+
Middle response
+3.26%
steady accumulation
Rally response
-5.82%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| FNDASchwab Fundamental U.S. | $67M | 19.3% | — | 5.5 yr |
| FNDXSchwab Fundamental U.S. | $53M | 15.4% | — | 5.5 yr |
| FNDFSchwab Fundamental Inter | $27M | 7.9% | — | 5.5 yr |
| GNRState Street SPDR S&P Gl | $19M | 5.4% | — | 5.5 yr |
| SCHPSchwab U.S. TIPS ETF | $14M | 4.1% | — | 5.5 yr |
| FNDCSchwab Fundamental Inter | $14M | 4.0% | — | 5.5 yr |
| SCHOSchwab Short-Term U.S. T | $14M | 4.0% | — | 5.5 yr |
| AVREAvantis Real Estate ETF | $14M | 3.9% | — | 2.5 yr |
| FNDESchwab Fundamental Emerg | $14M | 3.9% | — | 5.5 yr |
| VNQVanguard Real Estate ETF | $10M | 2.8% | — | 3.8 yr |
| BNLBroadstone Net Lease, In | $8M | 2.2% | +12.8% | 4.8 yr |
| PFFDGlobal X - U.S. Preferre | $7M | 2.1% | — | 5.5 yr |
| PGXInvesco Preferred ETF | $7M | 2.1% | — | 5.5 yr |
| ORealty Income Corporatio | $7M | 2.0% | +11.5% | 2.3 yr |
| WPCW. P. Carey Inc. | $7M | 2.0% | +12.3% | 4.8 yr |
Portfolio composition (YoY)
Industry mix
Asset Management72.1%+3.3pp$249M
Asset Management - Global8.5%+0.2pp$29M
Asset Management - Leveraged4.2%+0.0pp$15M
REIT - Diversified4.2%-0.1pp$15M
REIT - Retail2.0%+0.1pp$7M
Financial - Credit Services1.8%+0.1pp$6M
Asset Management - Bonds1.7%+0.1pp$6M
Insurance - Diversified1.0%-0.7pp$3M
Software - Infrastructure0.8%-0.1pp$3M
Education & Training Services0.7%-0.1pp$2M
Country
US99.6%-0.0pp
Unknown0.1%+0.1pp
IE0.1%-0.1pp
CH0.1%+0.0pp
CA0.0%-0.0pp
IL0.0%-0.0pp
Top 5: 52.2% · Top 10: 70.9% · Top 25: 92.5%
Top buys this quarter · 15
| OBDC Blue Owl Capital Corporation | +$1M |
| GBDC Golub Capital BDC, Inc. | +$1M |
| ARCC Ares Capital Corporation | +$1M |
| MSFT Microsoft Corporation | +$1M |
| WPC W. P. Carey Inc. | +$0M |
| BNL Broadstone Net Lease, Inc. | +$0M |
| O Realty Income Corporation | +$0M |
| AMTX Aemetis, Inc.new | +$0M |
| WMT Walmart Inc. | +$0M |
| TSLA Tesla, Inc. | +$1M |
Top sells this quarter · 15
| PRDO Perdoceo Education Corporation | −$2M |
| OMC Omnicom Group Inc. | −$0M |
| AMZN Amazon.com, Inc.exit | −$0M |
| HRMY Harmony Biosciences Holdings, exit | −$0M |
| LEU Centrus Energy Corp.exit | −$0M |
| BAC Bank of America Corporation | −$0M |
| ABT Abbott Laboratories | −$0M |
| HPQ HP Inc. | −$0M |
| BCSF Bain Capital Specialty Finance | −$0M |
| TGB Taseko Mines Limited | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $346M | 77 | +4.46% | +17.59% | -13.13% | +0.03B |
| 2025-12-31 | $322M | 75 | +7.02% | +17.72% | -10.70% | +0.03B |
| 2025-09-30 | $302M | 79 | +8.36% | +17.52% | -9.16% | +0.02B |
| 2025-06-30 | $269M | 78 | +11.34% | +14.94% | -3.60% | +0.01B |
| 2025-03-31 | $246M | 76 | +5.10% | +8.30% | -3.21% | +0.01B |
| 2024-12-31 | $234M | 78 | +8.82% | +24.89% | -16.07% | +0.00B |
| 2024-09-30 | $236M | 79 | +26.73% | +36.04% | -9.31% | +0.01B |
| 2024-06-30 | $211M | 78 | +13.51% | +24.49% | -10.98% | +0.00B |
| 2024-03-31 | $213M | 81 | +16.57% | +29.62% | -13.05% | +0.01B |
| 2023-12-31 | $193M | 76 | +11.20% | +26.18% | -14.98% | +0.02B |
| 2023-09-30 | $154M | 72 | +5.34% | +21.57% | -16.23% | +0.01B |
| 2023-06-30 | $149M | 73 | -7.86% | +19.42% | -27.28% | +0.00B |
| 2023-03-31 | $148M | 72 | -18.26% | -7.82% | -10.45% | +0.01B |
| 2022-12-31 | $136M | 75 | +7.99% | +7.56% | +0.43% | +0.01B |
| 2022-09-30 | $121M | 73 | -14.89% | -4.93% | -9.96% | +0.01B |
| 2022-06-30 | $126M | 66 | -10.72% | -16.11% | +5.39% | -0.00B |