Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+4.32%
adds when stocks drop
when a holding falls −10%+
Middle response
-5.35%
baseline attrition
Rally response
-12.57%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| BILState Street SPDR Bloomb | $15M | 5.4% | — | 3.3 yr |
| GOOGLAlphabet Inc. | $12M | 4.6% | — | 9.0 yr |
| MSFTMicrosoft Corporation | $11M | 4.0% | -0.6% | 9.5 yr |
| SHViShares 0â1 Year Treas | $10M | 3.7% | — | 5.3 yr |
| IEFiShares 7-10 Year Treasu | $10M | 3.5% | — | 5.5 yr |
| AMZNAmazon.com, Inc. | $8M | 3.2% | +9.5% | 9.3 yr |
| AAPLApple Inc. | $8M | 3.0% | +14.7% | 9.3 yr |
| NVDANVIDIA Corporation | $7M | 2.7% | +60.9% | 4.3 yr |
| VGITVanguard Intermediate-Te | $7M | 2.7% | — | 4.0 yr |
| LLYEli Lilly and Company | $7M | 2.6% | +12.2% | 9.3 yr |
| METAMeta Platforms, Inc. | $6M | 2.1% | -0.4% | 9.0 yr |
| SCHRSchwab Intermediate-Term | $5M | 2.0% | — | 1.8 yr |
| SGOViShares 0-3 Month Treasu | $5M | 1.7% | — | 3.0 yr |
| XOMExxon Mobil Corporation | $4M | 1.6% | +47.6% | 8.5 yr |
| IAUiShares Gold Trust | $4M | 1.5% | — | 4.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management22.4%+0.5pp$60M
Asset Management - Bonds9.3%-0.8pp$25M
Internet Content & Information7.6%+1.6pp$20M
Software - Infrastructure5.7%+0.7pp$15M
Semiconductors5.4%+4.3pp$14M
Drug Manufacturers - General4.5%+0.5pp$12M
Specialty Retail4.4%-1.0pp$12M
Banks - Diversified3.5%+0.6pp$9M
Consumer Electronics3.0%+1.5pp$8M
Oil & Gas Midstream2.8%+0.2pp$7M
Country
US91.9%-3.3pp
CA1.9%+0.5pp
UY1.2%-0.5pp
NL1.1%
GB1.0%+0.6pp
IE0.9%+0.5pp
IL0.9%
CR0.5%+0.1pp
Top 5: 21.4% · Top 10: 35.5% · Top 25: 55.2%
Top buys this quarter · 15
| MSFT Microsoft Corporation | +$11M |
| LNG Cheniere Energy, Inc. | +$2M |
| SHOP Shopify Inc.new | +$1M |
| KKR KKR & Co. Inc.new | +$1M |
| SPGI S&P Global Inc.new | +$1M |
| ARES Ares Management Corporationnew | +$1M |
| NFLX Netflix, Inc. | +$1M |
| GBDC Golub Capital BDC, Inc. | +$1M |
| ARCC Ares Capital Corporation | +$1M |
| ONON On Holding AGnew | +$1M |
Top sells this quarter · 15
| FCX Freeport-McMoRan Inc. | −$3M |
| BX Blackstone Inc. | −$3M |
| REG Regency Centers Corporationexit | −$2M |
| B Barrick Mining Corporationexit | −$2M |
| FRT Federal Realty Investment Trusexit | −$2M |
| DKNG DraftKings Inc.exit | −$2M |
| XOM Exxon Mobil Corporation | −$4M |
| CAT Caterpillar Inc. | −$1M |
| T AT&T Inc. | −$1M |
| BA The Boeing Companyexit | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $268M | 143 | +13.10% | +17.59% | -4.49% | +0.00B |
| 2025-12-31 | $276M | 144 | +19.96% | +17.72% | +2.24% | -0.01B |
| 2025-09-30 | $277M | 138 | +16.32% | +17.52% | -1.20% | +0.00B |
| 2025-06-30 | $265M | 130 | +19.07% | +14.94% | +4.13% | +0.00B |
| 2025-03-31 | $236M | 113 | +8.73% | +8.30% | +0.43% | -0.02B |
| 2024-12-31 | $253M | 125 | +16.58% | +24.89% | -8.31% | +0.01B |
| 2024-09-30 | $250M | 131 | +29.25% | +36.04% | -6.79% | -0.02B |
| 2024-06-30 | $254M | 132 | +20.13% | +24.49% | -4.36% | +0.00B |
| 2024-03-31 | $249M | 126 | +32.51% | +29.62% | +2.88% | -0.01B |
| 2023-12-31 | $233M | 116 | +24.84% | +26.18% | -1.34% | -0.00B |
| 2023-09-30 | $217M | 107 | +23.37% | +21.57% | +1.81% | -0.01B |
| 2023-06-30 | $226M | 109 | +19.29% | +19.42% | -0.14% | +0.07B |
| 2023-03-31 | $140M | 67 | -3.83% | -7.82% | +3.99% | -0.05B |
| 2022-12-31 | $184M | 113 | -11.08% | -18.17% | +7.09% | -0.04B |
| 2022-09-30 | $207M | 115 | -8.97% | -15.51% | +6.54% | +0.01B |
| 2022-06-30 | $209M | 115 | -4.30% | -10.62% | +6.32% | -0.00B |