Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-5.55%
trims when stocks drop
when a holding falls −10%+
Middle response
-0.09%
baseline attrition
Rally response
-0.15%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| SGOViShares 0-3 Month Treasu | $64M | 5.5% | — | 1.3 yr |
| PYLDPIMCO Multisector Bond A | $60M | 5.2% | — | 0.3 yr |
| VEAVanguard FTSE Developed | $51M | 4.4% | — | 5.5 yr |
| AAPLApple Inc. | $37M | 3.2% | +14.7% | 5.5 yr |
| MSFTMicrosoft Corporation | $33M | 2.8% | -0.6% | 5.5 yr |
| ILFiShares Latin America 40 | $28M | 2.4% | — | 1.3 yr |
| GOOGLAlphabet Inc. | $25M | 2.1% | — | 5.3 yr |
| PGThe Procter & Gamble Com | $24M | 2.0% | -12.9% | 5.5 yr |
| DBNDDoubleLine Opportunistic | $23M | 1.9% | — | 0.8 yr |
| JPMJPMorgan Chase & Co. | $21M | 1.8% | +21.8% | 5.5 yr |
| SCHOSchwab Short-Term U.S. T | $21M | 1.8% | — | 5.5 yr |
| TOTLState Street DoubleLine | $20M | 1.8% | — | 1.3 yr |
| USMViShares MSCI USA Min Vol | $20M | 1.7% | — | 4.0 yr |
| VGKVanguard FTSE Europe ETF | $20M | 1.7% | — | 3.3 yr |
| LLYEli Lilly and Company | $20M | 1.7% | +12.2% | 5.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management35.2%+3.4pp$411M
Asset Management - Bonds17.5%+7.9pp$205M
Semiconductors3.8%+1.5pp$45M
Drug Manufacturers - General3.7%+0.3pp$43M
Internet Content & Information3.4%+1.5pp$39M
Consumer Electronics3.2%+0.3pp$37M
Software - Infrastructure3.0%-0.2pp$35M
Asset Management - Leveraged2.4%+0.7pp$28M
Household & Personal Products2.1%-0.6pp$24M
Banks - Diversified2.0%-0.4pp$23M
Country
US97.4%+15.3pp
Unknown0.6%+0.3pp
CA0.4%-0.9pp
PA0.3%
DE0.3%
CL0.2%
UY0.2%
TW0.2%+0.1pp
Top 5: 21.0% · Top 10: 31.3% · Top 25: 54.1%
Top buys this quarter · 15
| AMZN Amazon.com, Inc. | +$4M |
| CPA Copa Holdings, S.A.new | +$3M |
| PPC Pilgrim's Pride Corporation | +$3M |
| RTX RTX Corporation | +$3M |
| SAP SAP SE | +$3M |
| MELI MercadoLibre, Inc.new | +$2M |
| MPC Marathon Petroleum Corporation | +$2M |
| RRC Range Resources Corporation | +$1M |
| VLO Valero Energy Corporation | +$1M |
| NVDA NVIDIA Corporation | +$1M |
Top sells this quarter · 15
| MUFG Mitsubishi UFJ Financial Groupexit | −$9M |
| MU Micron Technology, Inc. | −$7M |
| VALE Vale S.A.exit | −$6M |
| NUE Nucor Corporation | −$5M |
| NMR Nomura Holdings, Inc.exit | −$5M |
| LINC Lincoln Educational Services C | −$6M |
| NGD New Gold Inc.exit | −$4M |
| CNO CNO Financial Group, Inc. | −$3M |
| ADP Automatic Data Processing, Inc | −$3M |
| MOS The Mosaic Company | −$2M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.17B | 242 | +18.78% | +17.59% | +1.19% | -0.02B |
| 2025-12-31 | $1.19B | 262 | +19.92% | +17.72% | +2.20% | -0.22B |
| 2025-09-30 | $1.35B | 266 | +13.81% | +17.52% | -3.71% | -0.05B |
| 2025-06-30 | $1.29B | 273 | +10.83% | +14.94% | -4.11% | +0.00B |
| 2025-03-31 | $1.22B | 271 | +9.16% | +8.30% | +0.85% | +0.40B |
| 2024-12-31 | $823M | 221 | +18.15% | +24.89% | -6.73% | +0.01B |
| 2024-09-30 | $823M | 222 | +30.18% | +36.04% | -5.86% | -0.07B |
| 2024-06-30 | $837M | 223 | +18.39% | +24.49% | -6.10% | -0.00B |
| 2024-03-31 | $811M | 234 | +22.14% | +29.62% | -7.49% | +0.01B |
| 2023-12-31 | $735M | 214 | +16.57% | +26.18% | -9.61% | +0.00B |
| 2023-09-30 | $670M | 212 | +17.18% | +21.57% | -4.38% | +0.02B |
| 2023-06-30 | $669M | 225 | +15.28% | +19.42% | -4.14% | -0.01B |
| 2023-03-31 | $633M | 231 | -4.46% | -7.82% | +3.36% | +0.22B |
| 2022-12-31 | $402M | 215 | -12.07% | -18.17% | +6.11% | -0.03B |
| 2022-09-30 | $391M | 233 | -10.97% | -15.51% | +4.54% | -0.02B |
| 2022-06-30 | $432M | 238 | -5.76% | -10.62% | +4.86% | +0.08B |