Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+3.34%
adds when stocks drop
when a holding falls −10%+
Middle response
-2.43%
baseline attrition
Rally response
-1.91%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| AMLPAlerian MLP ETF | $71M | 8.8% | — | 4.5 yr |
| JPSTJPMorgan Ultra-Short Inc | $39M | 4.9% | — | 4.5 yr |
| TSMTaiwan Semiconductor Man | $31M | 3.9% | +105.6% | 4.0 yr |
| NVDANVIDIA Corporation | $27M | 3.4% | +60.9% | 4.5 yr |
| AAPLApple Inc. | $26M | 3.3% | +14.7% | 4.5 yr |
| ACWIiShares MSCI ACWI ETF | $25M | 3.1% | — | 3.8 yr |
| XOMExxon Mobil Corporation | $24M | 3.0% | +47.6% | 4.5 yr |
| GOOGLAlphabet Inc. | $22M | 2.8% | — | 3.8 yr |
| MSFTMicrosoft Corporation | $17M | 2.2% | -0.6% | 4.5 yr |
| AMZNAmazon.com, Inc. | $14M | 1.7% | +9.5% | 4.0 yr |
| ARCCAres Capital Corporation | $13M | 1.6% | -10.7% | 4.5 yr |
| AVGOBroadcom Inc. | $11M | 1.4% | +86.0% | 4.0 yr |
| ASMLASML Holding N.V. | $10M | 1.3% | +100.9% | 4.0 yr |
| TSLATesla, Inc. | $10M | 1.3% | +43.4% | 4.5 yr |
| WMTWalmart Inc. | $10M | 1.2% | +42.8% | 4.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management21.5%-9.9pp$172M
Semiconductors11.9%+5.1pp$95M
Asset Management - Income5.3%+0.6pp$43M
Banks - Diversified5.1%+1.1pp$41M
Drug Manufacturers - General4.8%+1.2pp$38M
Oil & Gas Integrated4.7%+1.3pp$37M
Internet Content & Information4.0%+1.1pp$32M
Consumer Electronics3.6%+0.0pp$29M
REIT - Specialty3.1%+0.3pp$24M
Software - Infrastructure2.8%-0.2pp$23M
Country
US81.8%-3.6pp
GB4.9%+1.2pp
TW3.9%+1.9pp
JP2.3%+0.3pp
NL1.6%+0.7pp
Unknown0.9%-0.0pp
ES0.8%+0.3pp
CH0.8%+0.2pp
Top 5: 24.2% · Top 10: 37.0% · Top 25: 53.5%
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $801M | 271 | +19.12% | +17.59% | +1.53% | +0.04B |
| 2025-12-31 | $766M | 274 | +17.75% | +17.72% | +0.03% | -0.12B |
| 2025-09-30 | $859M | 260 | +13.83% | +17.52% | -3.69% | -0.01B |
| 2025-06-30 | $812M | 273 | +12.78% | +14.94% | -2.16% | -0.08B |
| 2025-03-31 | $825M | 274 | +6.59% | +8.30% | -1.72% | +0.01B |
| 2024-12-31 | $829M | 278 | +17.03% | +24.89% | -7.85% | +0.11B |
| 2024-09-30 | $718M | 243 | +28.71% | +36.04% | -7.32% | +0.01B |
| 2024-06-30 | $670M | 231 | +20.32% | +24.49% | -4.17% | +0.04B |
| 2024-03-31 | $611M | 232 | +23.76% | +29.62% | -5.86% | +0.07B |
| 2023-12-31 | $497M | 218 | +22.96% | +26.18% | -3.22% | +0.04B |
| 2023-09-30 | $414M | 210 | +23.74% | +21.57% | +2.18% | +0.02B |
| 2023-06-30 | $393M | 231 | +17.74% | +19.42% | -1.68% | +0.09B |
| 2023-03-31 | $286M | 193 | -4.22% | -7.82% | +3.60% | -0.11B |
| 2022-12-31 | $364M | 193 | -14.98% | -18.17% | +3.19% | +0.09B |
| 2022-09-30 | $245M | 180 | -5.82% | -4.93% | -0.89% | +0.02B |
| 2022-06-30 | $244M | 182 | -14.14% | -16.11% | +1.97% | -0.01B |