Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+0.36%
adds when stocks drop
when a holding falls −10%+
Middle response
+0.71%
steady accumulation
Rally response
-2.37%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| IEFiShares 7-10 Year Treasu | $618M | 7.5% | — | 4.0 yr |
| ITOTiShares Core S&P Total U | $552M | 6.7% | — | 4.0 yr |
| QUALiShares MSCI USA Quality | $517M | 6.3% | — | 4.0 yr |
| VUSEVident U.S. Equity Strat | $491M | 6.0% | — | 4.0 yr |
| IPACiShares Core MSCI Pacifi | $469M | 5.7% | — | 4.0 yr |
| IUSViShares Core S&P U.S. Va | $437M | 5.3% | — | 4.0 yr |
| VGITVanguard Intermediate-Te | $431M | 5.2% | — | 4.0 yr |
| VIDIVident International Equ | $349M | 4.2% | — | 4.0 yr |
| JMOMJPMorgan U.S. Momentum F | $324M | 3.9% | — | 4.0 yr |
| MTUMiShares MSCI USA Momentu | $306M | 3.7% | — | 4.0 yr |
| IUSGiShares Core S&P U.S. Gr | $290M | 3.5% | — | 4.0 yr |
| VGKVanguard FTSE Europe ETF | $285M | 3.5% | — | 4.0 yr |
| AGGiShares Core U.S. Aggreg | $243M | 3.0% | — | 4.0 yr |
| VCITVanguard Intermediate-Te | $229M | 2.8% | — | 4.0 yr |
| VOOVanguard S&P 500 ETF | $183M | 2.2% | — | 4.0 yr |
Portfolio composition (YoY)
Industry mix
Asset Management72.3%-0.7pp$5.96B
Asset Management - Bonds12.5%+0.7pp$1.03B
Drug Manufacturers - General1.4%+0.3pp$113M
Asset Management - Leveraged1.2%-0.4pp$102M
Semiconductors1.1%+0.5pp$94M
Beverages - Non-Alcoholic0.9%-0.1pp$75M
Software - Infrastructure0.7%+0.0pp$60M
Oil & Gas Exploration & Production0.6%-0.0pp$50M
Consumer Electronics0.5%+0.0pp$44M
Internet Content & Information0.5%+0.2pp$39M
Country
US98.4%-0.3pp
Unknown0.2%+0.1pp
GB0.2%+0.0pp
TW0.2%+0.1pp
CA0.2%+0.1pp
IE0.1%-0.1pp
KR0.1%+0.0pp
BR0.1%+0.0pp
Top 5: 32.1% · Top 10: 54.6% · Top 25: 80.1%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| KO | $69M | +0.01B | 9.3% |
| AAPL | $38M | +0.01B | 14.7% |
| LLY | $42M | +0.01B | 12.2% |
| TPL | $38M | +0.00B | 8.1% |
| MSFT | $39M | -0.00B | -0.6% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| MSFT | $39M | -0.00B | -0.6% |
Top buys this quarter · 15
| NVDA NVIDIA Corporation | +$7M |
| SHW The Sherwin-Williams Company | +$6M |
| TPL Texas Pacific Land Corporation | +$5M |
| MSFT Microsoft Corporation | +$42M |
| AZN AstraZeneca PLCnew | +$3M |
| BAND Bandwidth Inc.new | +$2M |
| OTF Blue Owl Technology Finance Co | +$1M |
| C Citigroup Inc. | +$1M |
| ASML ASML Holding N.V. | +$1M |
| MU Micron Technology, Inc. | +$1M |
Top sells this quarter · 15
| LLY Eli Lilly and Company | −$6M |
| GPN Global Payments Inc. | −$4M |
| KO The Coca-Cola Company | −$66M |
| HCA HCA Healthcare, Inc. | −$2M |
| AFL Aflac Incorporated | −$2M |
| RY Royal Bank of Canada | −$2M |
| AUB Atlantic Union Bankshares Corp | −$2M |
| JPM JPMorgan Chase & Co. | −$1M |
| SPY State Street SPDR S&P 500 ETF | −$1M |
| APH Amphenol Corporation | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $8.23B | 2487 | +15.38% | +17.59% | -2.21% | -0.11B |
| 2025-12-31 | $8.34B | 2516 | +14.96% | +17.72% | -2.75% | -0.41B |
| 2025-09-30 | $8.41B | 2555 | +9.91% | +17.52% | -7.61% | -0.05B |
| 2025-06-30 | $8.01B | 2418 | +12.46% | +14.94% | -2.48% | +0.31B |
| 2025-03-31 | $7.33B | 2446 | +9.89% | +8.30% | +1.59% | -0.02B |
| 2024-12-31 | $7.38B | 3111 | +20.05% | +24.89% | -4.84% | +0.20B |
| 2024-09-30 | $7.22B | 2880 | +33.27% | +36.04% | -2.77% | -0.20B |
| 2024-06-30 | $6.86B | 2680 | +20.08% | +24.49% | -4.41% | +0.02B |
| 2024-03-31 | $6.67B | 2140 | +24.95% | +29.62% | -4.68% | +0.30B |
| 2023-12-31 | $5.85B | 2457 | +19.47% | +26.18% | -6.70% | -0.96B |
| 2023-09-30 | $6.16B | 1986 | +20.13% | +21.57% | -1.44% | +0.40B |
| 2023-06-30 | $5.91B | 1974 | +17.13% | +19.42% | -2.30% | -0.56B |
| 2023-03-31 | $6.06B | 2254 | +4.10% | +7.46% | -3.36% | +0.28B |
| 2022-12-31 | $5.55B | 2179 | +10.99% | +7.56% | +3.43% | -0.71B |
| 2022-09-30 | $5.64B | 2044 | -4.99% | -4.93% | -0.06% | -0.42B |
| 2022-06-30 | $6.38B | 1863 | — | — | — | — |