Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-1.80%
trims when stocks drop
when a holding falls −10%+
Middle response
+0.64%
steady accumulation
Rally response
+6.38%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| VYMVanguard High Dividend Y | $46M | 7.1% | — | 5.5 yr |
| QQQInvesco QQQ Trust, Serie | $46M | 7.1% | — | 5.5 yr |
| JPSTJPMorgan Ultra-Short Inc | $46M | 7.0% | — | 5.3 yr |
| SMHVanEck Semiconductor ETF | $33M | 5.1% | — | 5.3 yr |
| IJRiShares Core S&P Small-C | $30M | 4.6% | — | 5.5 yr |
| VOVanguard Mid-Cap ETF | $28M | 4.2% | — | 5.5 yr |
| XLIState Street Industrial | $18M | 2.8% | — | 5.5 yr |
| DVYiShares Select Dividend | $17M | 2.7% | — | 5.3 yr |
| AAPLApple Inc. | $17M | 2.6% | +14.7% | 5.5 yr |
| XLVState Street Health Care | $16M | 2.4% | — | 5.5 yr |
| SDSIAmerican Century Short D | $15M | 2.3% | — | 0.8 yr |
| BRK-ABerkshire Hathaway Inc. | $14M | 2.1% | — | 2.5 yr |
| NBSDNeuberger Berman Short D | $13M | 1.9% | — | 0.8 yr |
| MSFTMicrosoft Corporation | $12M | 1.8% | -0.6% | 5.5 yr |
| GOOGAlphabet Inc. | $11M | 1.6% | +84.3% | 5.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management51.1%-4.0pp$333M
Asset Management - Income9.7%-0.3pp$64M
Consumer Electronics2.7%-0.9pp$18M
Internet Content & Information2.5%+0.7pp$16M
Insurance - Diversified2.4%-1.0pp$16M
Software - Infrastructure2.1%-0.7pp$13M
Semiconductors1.6%+0.6pp$10M
Specialty Retail1.5%+0.2pp$10M
Drug Manufacturers - General1.4%-0.2pp$9M
Asset Management - Bonds1.3%-0.8pp$8M
Country
US97.9%-0.3pp
CA0.6%+0.2pp
CH0.4%-0.2pp
Unknown0.4%+0.0pp
NL0.2%-0.1pp
LU0.2%
IL0.2%
IE0.1%
Top 5: 30.9% · Top 10: 45.6% · Top 25: 64.0%
Top buys this quarter · 15
| SSYS Stratasys Ltd.new | +$2M |
| CPSH CPS Technologies Corporation | +$1M |
| DCO Ducommun Incorporatednew | +$1M |
| NEOG Neogen Corporation | +$1M |
| CODA Coda Octopus Group, Inc. | +$1M |
| LSTR Landstar System, Inc.new | +$1M |
| CDNL Cardinal Infrastructure Group new | +$1M |
| LRCX Lam Research Corporationnew | +$1M |
| GLUE Monte Rosa Therapeutics, Inc.new | +$1M |
| LIND Lindblad Expeditions Holdings,new | +$1M |
Top sells this quarter · 15
| SPY State Street SPDR S&P 500 ETF | −$2M |
| ODC Oil-Dri Corporation of Americaexit | −$1M |
| AMZN Amazon.com, Inc. | −$1M |
| LZ LegalZoom.com, Inc.exit | −$1M |
| PLPC Preformed Line Products Compan | −$1M |
| MYE Myers Industries, Inc.exit | −$1M |
| LBRT Liberty Energy Inc. | −$2M |
| TE T1 Energy Incexit | −$1M |
| HCI HCI Group, Inc.exit | −$1M |
| VPG Vishay Precision Group, Inc.exit | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $652M | 316 | +16.74% | +17.59% | -0.85% | +0.00B |
| 2025-12-31 | $664M | 324 | +15.15% | +17.72% | -2.57% | +0.02B |
| 2025-09-30 | $631M | 326 | +15.33% | +17.52% | -2.19% | -0.00B |
| 2025-06-30 | $580M | 215 | +12.08% | +14.94% | -2.86% | +0.01B |
| 2025-03-31 | $539M | 216 | +10.82% | +8.30% | +2.52% | +0.07B |
| 2024-12-31 | $488M | 217 | +20.65% | +24.89% | -4.23% | +0.05B |
| 2024-09-30 | $428M | 183 | +28.59% | +36.04% | -7.44% | -0.01B |
| 2024-06-30 | $411M | 180 | +15.73% | +24.49% | -8.76% | -0.03B |
| 2024-03-31 | $417M | 190 | +19.68% | +29.62% | -9.95% | -0.00B |
| 2023-12-31 | $397M | 184 | +21.66% | +26.18% | -4.51% | +0.11B |
| 2023-09-30 | $264M | 141 | +17.23% | +21.57% | -4.34% | -0.00B |
| 2023-06-30 | $277M | 145 | +17.85% | +19.42% | -1.58% | -0.01B |
| 2023-03-31 | $261M | 142 | -6.65% | -7.82% | +1.16% | -0.00B |
| 2022-12-31 | $244M | 153 | -16.80% | -18.17% | +1.37% | +0.01B |
| 2022-09-30 | $221M | 142 | -12.63% | -15.51% | +2.88% | +0.01B |
| 2022-06-30 | $222M | 141 | -8.33% | -10.62% | +2.29% | +0.01B |