Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+2.70%
adds when stocks drop
when a holding falls −10%+
Middle response
-1.77%
baseline attrition
Rally response
-0.40%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| JAAAJanus Henderson AAA CLO | $27M | 10.0% | — | 1.8 yr |
| DFACDimensional - US Core Eq | $17M | 6.2% | — | 4.8 yr |
| DFAUDimensional - US Core Eq | $11M | 3.9% | — | 5.3 yr |
| IVEiShares S&P 500 Value ET | $8M | 3.0% | — | 2.3 yr |
| DYNFiShares U.S. Equity Fact | $8M | 2.9% | — | 2.3 yr |
| SPLGSPDR Portfolio S&P 500 E | $8M | 2.9% | — | 5.3 yr |
| AAPLApple Inc. | $8M | 2.8% | +14.7% | 5.3 yr |
| IVWiShares S&P 500 Growth E | $7M | 2.7% | — | 3.0 yr |
| IVViShares Core S&P 500 ETF | $7M | 2.5% | — | 5.3 yr |
| EFViShares MSCI EAFE Value | $5M | 1.8% | — | 5.0 yr |
| AMZNAmazon.com, Inc. | $4M | 1.6% | +9.5% | 5.3 yr |
| QUALiShares MSCI USA Quality | $4M | 1.6% | — | 3.5 yr |
| GOOGLAlphabet Inc. | $4M | 1.4% | — | 5.0 yr |
| IEMGiShares Core MSCI Emergi | $4M | 1.3% | — | 3.3 yr |
| DFAIDimensional - Internatio | $4M | 1.3% | — | 5.3 yr |
Portfolio composition (YoY)
Industry mix
Asset Management69.8%+3.0pp$187M
Asset Management - Bonds2.9%-1.4pp$8M
Consumer Electronics2.8%+0.0pp$8M
Internet Content & Information2.2%+0.6pp$6M
Specialty Retail1.6%+0.4pp$4M
Software - Infrastructure1.3%-0.7pp$4M
Regulated Electric1.3%+0.2pp$3M
Unknown1.2%+0.7pp$3M
Semiconductors1.2%+0.2pp$3M
Insurance - Diversified1.2%-0.7pp$3M
Country
US97.8%-0.8pp
Unknown1.2%+0.7pp
CA0.4%+0.2pp
CH0.3%+0.1pp
IE0.3%-0.2pp
FI0.1%
Top 5: 26.1% · Top 10: 38.8% · Top 25: 57.0%
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| MSFT | $4M | -0.00B | -0.6% |
Top buys this quarter · 15
| AMZN Amazon.com, Inc. | +$1M |
| SHOP Shopify Inc.new | +$0M |
| BA The Boeing Company | +$0M |
| AAPL Apple Inc. | +$8M |
| IVR Invesco Mortgage Capital Inc. | +$0M |
| BMNR Bitmine Immersion Technologies | +$0M |
| GEV GE Vernova Inc.new | +$0M |
| AG First Majestic Silver Corp.new | +$0M |
| JPM JPMorgan Chase & Co. | +$0M |
| NVDA NVIDIA Corporation | +$0M |
Top sells this quarter · 15
| AEP American Electric Power Companexit | −$0M |
| EIX Edison International | −$0M |
| BIPC Brookfield Infrastructure Corpexit | −$0M |
| ACN Accenture plcexit | −$0M |
| QCOM QUALCOMM Incorporatedexit | −$0M |
| BX Blackstone Inc.exit | −$0M |
| CAT Caterpillar Inc. | −$1M |
| UBER Uber Technologies, Inc. | −$0M |
| TSLA Tesla, Inc. | −$0M |
| KO The Coca-Cola Company | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $268M | 186 | +21.89% | +17.59% | +4.30% | +0.02B |
| 2025-12-31 | $263M | 188 | +21.00% | +17.72% | +3.28% | +0.01B |
| 2025-09-30 | $250M | 183 | +26.72% | +17.52% | +9.21% | -0.00B |
| 2025-06-30 | $228M | 172 | +23.04% | +14.94% | +8.10% | -0.01B |
| 2025-03-31 | $208M | 169 | +12.79% | +8.30% | +4.49% | +0.02B |
| 2024-12-31 | $201M | 159 | +26.56% | +24.89% | +1.67% | -0.01B |
| 2024-09-30 | $197M | 150 | +34.67% | +36.04% | -1.37% | +0.00B |
| 2024-06-30 | $177M | 143 | +19.04% | +24.49% | -5.46% | +0.00B |
| 2024-03-31 | $169M | 144 | +25.99% | +29.62% | -3.63% | +0.01B |
| 2023-12-31 | $152M | 140 | +22.54% | +26.18% | -3.64% | +0.00B |
| 2023-09-30 | $130M | 123 | +15.99% | +21.57% | -5.57% | +0.00B |
| 2023-06-30 | $134M | 119 | +15.31% | +19.42% | -4.12% | -0.01B |
| 2023-03-31 | $128M | 123 | -8.15% | -7.82% | -0.33% | +0.01B |
| 2022-12-31 | $118M | 128 | -13.35% | -18.17% | +4.82% | +0.00B |
| 2022-09-30 | $107M | 122 | -2.06% | -15.51% | +13.45% | -0.01B |
| 2022-06-30 | $122M | 125 | +6.93% | -3.70% | +10.63% | +0.01B |