Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-3.70%
trims when stocks drop
when a holding falls −10%+
Middle response
+0.89%
steady accumulation
Rally response
+1.48%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| GSLCGoldman Sachs ActiveBeta | $81M | 10.9% | — | 5.5 yr |
| IVViShares Core S&P 500 ETF | $51M | 6.9% | — | 4.0 yr |
| JMTGJPMorgan Mortgage-Backed | $50M | 6.7% | — | 0.8 yr |
| MBBiShares MBS ETF | $48M | 6.4% | — | 5.5 yr |
| DGRWWisdomTree U.S. Quality | $47M | 6.3% | — | 5.5 yr |
| GSIEGoldman Sachs ActiveBeta | $44M | 6.0% | — | 5.5 yr |
| IAUiShares Gold Trust | $41M | 5.5% | — | 3.3 yr |
| IEIiShares 3-7 Year Treasur | $35M | 4.8% | — | 2.5 yr |
| NVDANVIDIA Corporation | $26M | 3.5% | +60.9% | 5.5 yr |
| — | $10M | 1.4% | — | 2.5 yr |
| IBKRInteractive Brokers Grou | $8M | 1.1% | +62.8% | 5.5 yr |
| SPYState Street SPDR S&P 50 | $7M | 1.0% | +17.6% | 5.5 yr |
| ALLYAlly Financial Inc. | $6M | 0.8% | +11.1% | 1.8 yr |
| HELOJPMorgan Hedged Equity L | $6M | 0.8% | — | 0.8 yr |
| EWJiShares MSCI Japan ETF | $5M | 0.7% | — | 5.0 yr |
Portfolio composition (YoY)
Industry mix
Asset Management57.1%+0.4pp$425M
Asset Management - Income7.0%+3.1pp$52M
Semiconductors4.8%+1.5pp$36M
Unknown3.0%-1.3pp$22M
Internet Content & Information1.4%-0.1pp$11M
Financial - Credit Services1.4%-0.3pp$11M
Shell Companies1.1%-0.2pp$8M
Investment - Banking & Investment Services1.1%+0.2pp$8M
Specialty Retail1.0%-0.3pp$7M
Software - Infrastructure1.0%-0.5pp$7M
Country
US89.9%+2.4pp
Unknown3.0%-1.3pp
GB1.5%-0.1pp
IE0.8%-0.3pp
NL0.7%-0.1pp
CA0.6%-0.0pp
FR0.6%-0.0pp
BM0.5%-0.0pp
Top 5: 37.2% · Top 10: 58.3% · Top 25: 68.7%
Top buys this quarter · 15
| AZN AstraZeneca PLCnew | +$1M |
| AMT American Tower Corporation | +$0M |
| WEC WEC Energy Group, Inc. | +$0M |
| TBN Tamboran Resources Corpnew | +$0M |
| PAYX Paychex, Inc. | +$0M |
| KIM Kimco Realty Corporation | +$0M |
| MDLZ Mondelez International, Inc. | +$0M |
| ESI Element Solutions Incnew | +$0M |
| CME CME Group Inc. | +$0M |
| VZ Verizon Communications Inc. | +$0M |
Top sells this quarter · 15
| GEV GE Vernova Inc. | −$2M |
| GOOG Alphabet Inc. | −$2M |
| MU Micron Technology, Inc. | −$1M |
| IBKR Interactive Brokers Group, Inc | −$1M |
| MRK Merck & Co., Inc. | −$1M |
| EME EMCOR Group, Inc. | −$4M |
| GE GE Aerospace | −$1M |
| IMSR Terrestrial Energy Inc.exit | −$1M |
| TSM Taiwan Semiconductor Manufactu | −$0M |
| JNJ Johnson & Johnsonexit | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $743M | 299 | +16.89% | +17.59% | -0.70% | -0.00B |
| 2025-12-31 | $791M | 322 | +14.80% | +17.72% | -2.92% | -0.01B |
| 2025-09-30 | $791M | 315 | +20.68% | +17.52% | +3.16% | +0.03B |
| 2025-06-30 | $698M | 323 | +16.28% | +14.94% | +1.34% | -0.05B |
| 2025-03-31 | $665M | 315 | +0.45% | +8.30% | -7.85% | +0.08B |
| 2024-12-31 | $627M | 291 | +25.10% | +24.89% | +0.21% | -0.01B |
| 2024-09-30 | $601M | 301 | +32.62% | +36.04% | -3.42% | +0.02B |
| 2024-06-30 | $559M | 349 | +22.62% | +24.49% | -1.87% | +0.03B |
| 2024-03-31 | $540M | 330 | +36.04% | +29.62% | +6.42% | +0.08B |
| 2023-12-31 | $398M | 140 | +25.06% | +26.18% | -1.11% | +0.12B |
| 2023-09-30 | $245M | 593 | +21.13% | +21.57% | -0.44% | -0.14B |
| 2023-06-30 | $401M | 759 | -39.25% | +19.42% | -58.67% | -0.01B |
| 2023-03-31 | $383M | 643 | -94.16% | -7.82% | -86.34% | +0.03B |
| 2022-12-31 | $330M | 487 | -94.76% | -18.17% | -76.58% | -0.04B |
| 2022-09-30 | $341M | 530 | -94.65% | -15.51% | -79.14% | +0.16B |
| 2022-06-30 | $379M | 574 | -88.92% | -10.62% | -78.30% | +0.34B |