Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-1.51%
trims when stocks drop
when a holding falls −10%+
Middle response
-4.85%
baseline attrition
Rally response
-4.24%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $123M | 3.0% | +60.9% | 3.3 yr |
| AAPLApple Inc. | $122M | 3.0% | +14.7% | 5.3 yr |
| MSFTMicrosoft Corporation | $89M | 2.2% | -0.6% | 5.3 yr |
| QQQInvesco QQQ Trust, Serie | $88M | 2.2% | — | 5.0 yr |
| VUGVanguard Growth ETF | $88M | 2.2% | — | 5.0 yr |
| SPYState Street SPDR S&P 50 | $84M | 2.1% | +17.6% | 5.0 yr |
| GOOGLAlphabet Inc. | $79M | 1.9% | — | 5.0 yr |
| VTVVanguard Value ETF | $72M | 1.8% | — | 5.0 yr |
| AMZNAmazon.com, Inc. | $65M | 1.6% | +9.5% | 5.0 yr |
| JNJJohnson & Johnson | $54M | 1.3% | +51.5% | 3.8 yr |
| USBU.S. Bancorp | $54M | 1.3% | +27.1% | 5.0 yr |
| CSCOCisco Systems, Inc. | $53M | 1.3% | +28.1% | 5.3 yr |
| AVGOBroadcom Inc. | $50M | 1.2% | +86.0% | 2.5 yr |
| CATCaterpillar Inc. | $50M | 1.2% | +117.8% | 2.5 yr |
| CMICummins Inc. | $48M | 1.2% | +74.8% | 1.0 yr |
Portfolio composition (YoY)
Industry mix
Asset Management17.4%-39.5pp$709M
Semiconductors7.4%+5.6pp$300M
Banks - Regional4.2%$172M
Drug Manufacturers - General3.9%+2.7pp$157M
Software - Infrastructure3.6%+1.2pp$147M
Banks - Diversified3.4%+1.5pp$138M
Internet Content & Information3.3%+0.6pp$135M
Consumer Electronics3.0%+0.9pp$122M
Unknown2.9%-5.3pp$118M
Oil & Gas Exploration & Production2.9%+2.4pp$116M
Country
US91.1%-0.1pp
Unknown2.9%-5.3pp
GB2.4%
CA1.1%
IE0.7%
FR0.4%
UY0.3%
IL0.3%
Top 5: 12.5% · Top 10: 21.3% · Top 25: 37.6%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| SPY | $145M | +0.03B | 17.6% |
| GOOG | $25M | +0.02B | 84.3% |
| AVGO | $13M | +0.01B | 86.0% |
| CAT | $8M | +0.01B | 117.8% |
| NVDA | $12M | +0.01B | 60.9% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| MSFT | $31M | -0.00B | -0.6% |
Top buys this quarter · 15
| AAPL Apple Inc. | +$86M |
| NVDA NVIDIA Corporation | +$84M |
| MSFT Microsoft Corporation | +$58M |
| AMZN Amazon.com, Inc. | +$47M |
| AVGO Broadcom Inc. | +$33M |
| TSLA Tesla, Inc. | +$28M |
| NEE NextEra Energy, Inc. | +$25M |
| KLAC KLA Corporation | +$20M |
| NFLX Netflix, Inc. | +$19M |
| VLO Valero Energy Corporationnew | +$19M |
Top sells this quarter · 15
| TMUS T-Mobile US, Inc. | −$22M |
| CF CF Industries Holdings, Inc. | −$21M |
| GOOG Alphabet Inc. | −$21M |
| AES The AES Corporationexit | −$13M |
| HIG The Hartford Financial Service | −$11M |
| LOW Lowe's Companies, Inc. | −$10M |
| META Meta Platforms, Inc. | −$10M |
| CVX Chevron Corporation | −$39M |
| NUE Nucor Corporation | −$9M |
| JNJ Johnson & Johnson | −$53M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $4.07B | 407 | +27.39% | +17.59% | +9.80% | +0.31B |
| 2025-12-31 | $3.68B | 399 | +18.10% | +17.72% | +0.38% | -0.05B |
| 2025-09-30 | $3.58B | 402 | +16.37% | +17.52% | -1.15% | -0.18B |
| 2025-06-30 | $3.43B | 377 | +12.08% | +14.94% | -2.86% | +1.43B |
| 2025-03-31 | $1.83B | 124 | +4.48% | +8.30% | -3.83% | -0.19B |
| 2024-12-31 | $2.14B | 125 | +22.14% | +24.89% | -2.75% | +0.56B |
| 2024-09-30 | $1.53B | 122 | +32.31% | +36.04% | -3.72% | +0.04B |
| 2024-06-30 | $1.42B | 126 | +22.42% | +24.49% | -2.07% | -0.13B |
| 2024-03-31 | $1.52B | 134 | +26.77% | +29.62% | -2.85% | -0.02B |
| 2023-12-31 | $1.39B | 141 | +22.01% | +26.18% | -4.17% | +0.13B |
| 2023-09-30 | $1.13B | 135 | +21.17% | +21.57% | -0.40% | -0.14B |
| 2023-06-30 | $1.29B | 145 | +20.07% | +19.42% | +0.65% | +0.08B |
| 2023-03-31 | $1.16B | 141 | -4.39% | -7.82% | +3.43% | +0.04B |
| 2022-12-31 | $1.04B | 130 | -14.47% | -18.17% | +3.70% | +0.05B |
| 2022-09-30 | $902M | 128 | -14.14% | -15.51% | +1.37% | -0.14B |
| 2022-06-30 | $1.08B | 121 | -10.74% | -10.62% | -0.12% | -0.13B |