Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-23.63%
trims when stocks drop
when a holding falls −10%+
Middle response
-11.83%
baseline attrition
Rally response
-2.23%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| IVViShares Core S&P 500 ETF | $154M | 5.3% | — | 5.3 yr |
| NVDANVIDIA Corporation | $107M | 3.7% | +60.9% | 5.3 yr |
| AAPLApple Inc. | $97M | 3.4% | +14.7% | 5.3 yr |
| AMZNAmazon.com, Inc. | $67M | 2.3% | +9.5% | 5.3 yr |
| GOOGLAlphabet Inc. | $52M | 1.8% | — | 5.3 yr |
| VGTVanguard Information Tec | $52M | 1.8% | — | 5.3 yr |
| MSFTMicrosoft Corporation | $49M | 1.7% | -0.6% | 5.3 yr |
| IUSBiShares Core Universal U | $41M | 1.4% | — | 5.3 yr |
| SPYState Street SPDR S&P 50 | $37M | 1.3% | +17.6% | 5.3 yr |
| AVGOBroadcom Inc. | $33M | 1.2% | +86.0% | 5.3 yr |
| AGGiShares Core U.S. Aggreg | $30M | 1.1% | — | 5.3 yr |
| METAMeta Platforms, Inc. | $30M | 1.0% | -0.4% | 5.3 yr |
| COSTCostco Wholesale Corpora | $30M | 1.0% | +5.9% | 5.3 yr |
| GOOGAlphabet Inc. | $29M | 1.0% | +84.3% | 5.3 yr |
| IEFAiShares Core MSCI EAFE E | $29M | 1.0% | — | 5.3 yr |
Portfolio composition (YoY)
Industry mix
Asset Management48.4%+3.0pp$1.40B
Semiconductors7.8%+4.0pp$226M
Asset Management - Bonds4.6%+1.1pp$134M
Internet Content & Information3.9%+0.7pp$113M
Consumer Electronics3.5%-0.0pp$102M
Specialty Retail2.8%-0.1pp$81M
Software - Infrastructure2.7%-0.9pp$79M
Asset Management - Income2.0%-2.4pp$58M
Discount Stores1.6%+0.1pp$47M
Drug Manufacturers - General1.5%-0.2pp$44M
Country
US96.8%-0.4pp
Unknown1.0%+0.8pp
CA0.7%-0.2pp
TW0.3%+0.2pp
IE0.3%-0.3pp
CH0.3%+0.3pp
NL0.2%+0.1pp
SG0.1%+0.1pp
Top 5: 16.5% · Top 10: 23.9% · Top 25: 37.5%
Top buys this quarter · 15
| AMAT Applied Materials, Inc. | +$9M |
| LRCX Lam Research Corporation | +$6M |
| CASY Casey's General Stores, Inc. | +$6M |
| XPO XPO Logistics, Inc. | +$5M |
| ATI ATI Inc. | +$5M |
| WFRD Weatherford International plc | +$5M |
| TSM Taiwan Semiconductor Manufactu | +$5M |
| NXT Nextpower Inc. | +$5M |
| INTC Intel Corporation | +$4M |
| CF CF Industries Holdings, Inc. | +$4M |
Top sells this quarter · 15
| SCCO Southern Copper Corporation | −$7M |
| SHOP Shopify Inc. | −$6M |
| VRT Vertiv Holdings Co | −$6M |
| CRWD CrowdStrike Holdings, Inc. | −$6M |
| TEL TE Connectivity Ltd. | −$6M |
| FSLR First Solar, Inc. | −$5M |
| APH Amphenol Corporation | −$5M |
| NET Cloudflare, Inc. | −$5M |
| MEDP Medpace Holdings, Inc. | −$5M |
| HOOD Robinhood Markets, Inc. | −$5M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $2.89B | 2239 | +18.36% | +17.59% | +0.77% | +0.03B |
| 2025-12-31 | $2.97B | 2288 | +15.95% | +17.72% | -1.77% | +0.01B |
| 2025-09-30 | $2.92B | 2347 | +18.53% | +17.52% | +1.02% | -0.08B |
| 2025-06-30 | $2.78B | 2359 | +15.61% | +14.94% | +0.67% | -0.72B |
| 2025-03-31 | $3.12B | 2453 | +4.94% | +8.30% | -3.36% | +0.08B |
| 2024-12-31 | $3.22B | 2430 | +20.94% | +24.89% | -3.94% | +0.15B |
| 2024-09-30 | $2.96B | 2147 | +30.64% | +36.04% | -5.40% | -0.02B |
| 2024-06-30 | $2.83B | 2187 | +18.74% | +24.49% | -5.75% | -1.94B |
| 2024-03-31 | $4.68B | 2283 | +26.92% | +29.62% | -2.70% | +1.52B |
| 2023-12-31 | $2.90B | 2346 | +26.04% | +26.18% | -0.14% | -0.03B |
| 2023-09-30 | $2.62B | 2338 | +16.73% | +21.57% | -4.84% | +0.03B |
| 2023-06-30 | $2.70B | 2367 | +17.53% | +19.42% | -1.90% | -0.09B |
| 2023-03-31 | $2.56B | 2459 | -8.20% | -7.82% | -0.39% | +0.65B |
| 2022-12-31 | $1.77B | 2283 | -18.92% | -18.17% | -0.75% | +0.07B |
| 2022-09-30 | $1.64B | 2155 | -13.15% | -15.51% | +2.36% | -0.69B |
| 2022-06-30 | $2.42B | 2626 | -9.41% | -10.62% | +1.22% | -0.75B |