Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+1.09%
adds when stocks drop
when a holding falls −10%+
Middle response
-0.03%
baseline attrition
Rally response
-0.75%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| MDYState Street SPDR S&P MI | $27M | 13.5% | — | 5.5 yr |
| SPYState Street SPDR S&P 50 | $26M | 12.9% | +17.6% | 5.5 yr |
| IWMiShares Russell 2000 ETF | $17M | 8.7% | — | 5.5 yr |
| NVDANVIDIA Corporation | $12M | 6.0% | +60.9% | 5.5 yr |
| AAPLApple Inc. | $11M | 5.6% | +14.7% | 5.5 yr |
| MSFTMicrosoft Corporation | $8M | 3.9% | -0.6% | 5.5 yr |
| VFHVanguard Financials ETF | $7M | 3.8% | — | 5.5 yr |
| EFAiShares MSCI EAFE ETF | $7M | 3.7% | — | 5.5 yr |
| GOOGLAlphabet Inc. | $6M | 3.1% | — | 5.5 yr |
| WMTWalmart Inc. | $4M | 1.9% | +42.8% | 5.5 yr |
| AVGOBroadcom Inc. | $4M | 1.9% | +86.0% | 5.5 yr |
| AMZNAmazon.com, Inc. | $4M | 1.9% | +9.5% | 5.5 yr |
| XLUState Street Utilities S | $3M | 1.7% | — | 5.5 yr |
| PLTRPalantir Technologies In | $3M | 1.6% | +73.3% | 5.5 yr |
| JNJJohnson & Johnson | $3M | 1.3% | +51.5% | 5.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management45.9%-1.2pp$92M
Semiconductors10.3%+2.7pp$21M
Software - Infrastructure6.2%-0.5pp$12M
Consumer Electronics5.6%-0.5pp$11M
Internet Content & Information4.4%+1.1pp$9M
Discount Stores2.9%+0.3pp$6M
Drug Manufacturers - General2.9%-0.1pp$6M
Aerospace & Defense2.5%+0.4pp$5M
Specialty Retail2.1%-0.2pp$4M
Oil & Gas Integrated1.9%+0.3pp$4M
Country
US97.3%-0.0pp
Unknown0.4%+0.2pp
NL0.4%+0.1pp
CH0.4%+0.1pp
TW0.4%+0.2pp
CA0.4%+0.2pp
IE0.3%+0.2pp
FI0.3%+0.1pp
Top 5: 46.9% · Top 10: 63.3% · Top 25: 80.7%
Top buys this quarter · 15
| SRE Sempranew | +$0M |
| AAPL Apple Inc. | +$11M |
| NVDA NVIDIA Corporation | +$12M |
| AVGO Broadcom Inc. | +$4M |
| INTC Intel Corporation | +$0M |
| AMD Advanced Micro Devices, Inc. | +$2M |
| AMZN Amazon.com, Inc. | +$4M |
| WMT Walmart Inc. | +$0M |
| CVX Chevron Corporation | +$0M |
| COST Costco Wholesale Corporation | +$0M |
Top sells this quarter · 15
| SPY State Street SPDR S&P 500 ETF | −$1M |
| MSFT Microsoft Corporation | −$0M |
| INCY Incyte Corporationexit | −$0M |
| ALAB Astera Labs, Inc. Common Stockexit | −$0M |
| PYPL PayPal Holdings, Inc.exit | −$0M |
| TTD The Trade Desk, Inc.exit | −$0M |
| NAK Northern Dynasty Minerals Ltd. | −$0M |
| PG The Procter & Gamble Company | −$0M |
| GLW Corning Incorporated | −$0M |
| BTBT Bit Digital, Inc.exit | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $199M | 110 | +20.33% | +17.59% | +2.73% | +0.00B |
| 2025-12-31 | $207M | 113 | +18.54% | +17.72% | +0.82% | -0.00B |
| 2025-09-30 | $208M | 110 | +23.99% | +17.52% | +6.47% | -0.00B |
| 2025-06-30 | $192M | 104 | +20.38% | +14.94% | +5.44% | -0.00B |
| 2025-03-31 | $170M | 100 | +10.94% | +8.30% | +2.64% | +0.00B |
| 2024-12-31 | $177M | 98 | +26.38% | +24.89% | +1.49% | -0.01B |
| 2024-09-30 | $174M | 96 | +32.45% | +36.04% | -3.59% | +0.00B |
| 2024-06-30 | $160M | 91 | +19.35% | +24.49% | -5.14% | -0.00B |
| 2024-03-31 | $155M | 92 | +23.27% | +29.62% | -6.35% | +0.01B |
| 2023-12-31 | $138M | 90 | +24.12% | +26.18% | -2.06% | +0.00B |
| 2023-09-30 | $123M | 87 | +19.47% | +21.57% | -2.10% | +0.00B |
| 2023-06-30 | $123M | 88 | +18.92% | +19.42% | -0.51% | -0.00B |
| 2023-03-31 | $114M | 92 | -5.69% | -7.82% | +2.13% | +0.00B |
| 2022-12-31 | $103M | 87 | -17.09% | -18.17% | +1.08% | +0.00B |
| 2022-09-30 | $95M | 83 | -13.63% | -15.51% | +1.87% | -0.00B |
| 2022-06-30 | $102M | 87 | -8.63% | -10.62% | +1.99% | -0.00B |