Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+1.47%
adds when stocks drop
when a holding falls −10%+
Middle response
+2.13%
steady accumulation
Rally response
-1.08%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| VTIVanguard Total Stock Mar | $52M | 5.9% | — | 4.3 yr |
| SPMOInvesco S&P 500 Momentum | $35M | 3.9% | — | 1.0 yr |
| SCHGSchwab U.S. Large-Cap Gr | $29M | 3.3% | — | 9.0 yr |
| VEAVanguard FTSE Developed | $27M | 3.1% | — | 4.0 yr |
| LQDiShares iBoxx $ Investme | $21M | 2.4% | — | 6.0 yr |
| IVViShares Core S&P 500 ETF | $21M | 2.4% | — | 8.0 yr |
| IUSBiShares Core Universal U | $20M | 2.3% | — | 5.3 yr |
| SCHFSchwab International Equ | $18M | 2.1% | — | 9.0 yr |
| HYGiShares iBoxx $ High Yie | $18M | 2.1% | — | 4.5 yr |
| EMBiShares J.P. Morgan USD | $18M | 2.0% | — | 4.8 yr |
| VTVVanguard Value ETF | $18M | 2.0% | — | 7.8 yr |
| JCPBJPMorgan Core Plus Bond | $17M | 2.0% | — | 1.0 yr |
| DFIVDimensional - Internatio | $16M | 1.8% | — | 1.8 yr |
| IVEiShares S&P 500 Value ET | $16M | 1.8% | — | 2.8 yr |
| FRDMFreedom 100 Emerging Mar | $15M | 1.7% | — | 1.0 yr |
Portfolio composition (YoY)
Industry mix
Asset Management60.8%-3.0pp$537M
Asset Management - Bonds11.6%+1.3pp$103M
Asset Management - Income2.5%+0.6pp$22M
Semiconductors1.6%+0.5pp$14M
Unknown1.5%+1.4pp$13M
Internet Content & Information1.2%+0.0pp$11M
Consumer Electronics1.2%-0.1pp$11M
Software - Infrastructure1.1%+0.1pp$10M
Specialty Retail1.1%-0.3pp$9M
Investment - Banking & Investment Services0.9%$8M
Country
US96.2%-2.1pp
Unknown1.5%+1.4pp
CA1.2%+0.6pp
BM0.5%+0.3pp
IE0.1%
JP0.1%-0.0pp
CH0.1%+0.1pp
KY0.1%+0.1pp
Top 5: 18.6% · Top 10: 29.5% · Top 25: 52.1%
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Top buys this quarter · 15
| RNR RenaissanceRe Holdings Ltd.new | +$2M |
| PFG Principal Financial Group, Incnew | +$2M |
| COP ConocoPhillipsnew | +$1M |
| BN Brookfield Corporationnew | +$1M |
| BDX Becton, Dickinson and Companynew | +$1M |
| F-PD Ford Motor Company 6.500% Note | +$1M |
| ACGL Arch Capital Group Ltd.new | +$1M |
| JCI Johnson Controls Internationalnew | +$1M |
| LYB LyondellBasell Industries N.V.new | +$1M |
| CF CF Industries Holdings, Inc.new | +$1M |
Top sells this quarter · 15
| ROST Ross Stores, Inc.exit | −$3M |
| SYY Sysco Corporationexit | −$2M |
| LLY Eli Lilly and Company | −$1M |
| PM Philip Morris International In | −$1M |
| TGT Target Corporationexit | −$1M |
| JBL Jabil Inc.exit | −$1M |
| TPR Tapestry, Inc.exit | −$1M |
| WRB W. R. Berkley Corporationexit | −$1M |
| WFC Wells Fargo & Companyexit | −$1M |
| FLEX Flex Ltd.exit | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $883M | 329 | +23.29% | +17.59% | +5.69% | -0.01B |
| 2025-12-31 | $919M | 306 | +20.07% | +17.72% | +2.36% | +0.01B |
| 2025-09-30 | $878M | 305 | +20.85% | +17.52% | +3.33% | -0.01B |
| 2025-06-30 | $801M | 295 | +16.87% | +14.94% | +1.93% | -0.01B |
| 2025-03-31 | $731M | 269 | +6.93% | +8.30% | -1.37% | -0.04B |
| 2024-12-31 | $822M | 245 | +24.30% | +24.89% | -0.59% | -0.04B |
| 2024-09-30 | $825M | 251 | +34.14% | +36.04% | -1.90% | -0.14B |
| 2024-06-30 | $905M | 262 | +19.52% | +24.49% | -4.97% | +0.05B |
| 2024-03-31 | $842M | 237 | +26.90% | +29.62% | -2.73% | -0.01B |
| 2023-12-31 | $781M | 213 | +28.13% | +26.18% | +1.95% | +0.00B |
| 2023-09-30 | $690M | 187 | +17.51% | +21.57% | -4.06% | +0.03B |
| 2023-06-30 | $690M | 178 | +19.17% | +19.42% | -0.25% | -0.00B |
| 2023-03-31 | $645M | 160 | -8.06% | -7.82% | -0.25% | -0.07B |
| 2022-12-31 | $643M | 164 | -20.90% | -18.17% | -2.73% | +0.04B |
| 2022-09-30 | $583M | 170 | -15.07% | -15.51% | +0.44% | -0.04B |
| 2022-06-30 | $641M | 179 | -11.57% | -10.62% | -0.95% | +0.14B |