Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-3.54%
trims when stocks drop
when a holding falls −10%+
Middle response
-0.07%
baseline attrition
Rally response
-0.25%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| CMTGClaros Mortgage Trust, I | $49M | 55.4% | -36.2% | 4.5 yr |
| XLKState Street Technology | $4M | 4.1% | — | 0.5 yr |
| GLDSPDR Gold Shares | $3M | 4.0% | — | 0.5 yr |
| LBAYLeatherback Long/Short A | $2M | 1.8% | — | 0.5 yr |
| MTUMiShares MSCI USA Momentu | $2M | 1.8% | — | 0.5 yr |
| IJTiShares S&P Small-Cap 60 | $1M | 1.2% | — | 0.5 yr |
| VNQVanguard Real Estate ETF | $1M | 1.2% | — | 0.5 yr |
| IVWiShares S&P 500 Growth E | $1M | 1.1% | — | 0.5 yr |
| IJKiShares S&P Mid-Cap 400 | $1M | 1.1% | — | 0.5 yr |
| PSPInvesco Global Listed Pr | $1M | 1.1% | — | 0.5 yr |
| XLYState Street Consumer Di | $1M | 1.0% | — | 0.5 yr |
| SPHBInvesco S&P 500 High Bet | $1M | 1.0% | — | 0.5 yr |
| IJSiShares S&P Small-Cap 60 | $1M | 0.8% | — | 0.5 yr |
| SWANAmplify BlackSwan Growth | $1M | 0.7% | — | 0.5 yr |
| FTLSFirst Trust Long/Short E | $1M | 0.7% | — | 0.5 yr |
Portfolio composition (YoY)
Industry mix
REIT - Mortgage55.4%-44.6pp$49M
Asset Management35.3%$31M
Asset Management - Bonds4.5%$4M
Asset Management - Global2.7%$2M
Asset Management - Leveraged2.0%$2M
Country
US100.0%+0.0pp
Top 5: 67.0% · Top 10: 72.7% · Top 25: 82.9%
Top buys this quarter · 15
| SWAN Amplify BlackSwan Growth & Tre | +$0M |
| FTLS First Trust Long/Short Equity | +$0M |
| PSP Invesco Global Listed Private | +$0M |
| SPHB Invesco S&P 500 High Beta ETF | +$0M |
| IVW iShares S&P 500 Growth ETF | +$0M |
| IJK iShares S&P Mid-Cap 400 Growth | +$0M |
| IJT iShares S&P Small-Cap 600 Grow | +$0M |
| MTUM iShares MSCI USA Momentum Fact | +$0M |
| PTLC Pacer Trendpilot US Large Cap | +$0M |
| GLD SPDR Gold Shares | +$0M |
Top sells this quarter · 15
| CMTG Claros Mortgage Trust, Inc. | −$0M |
| XYLD Global X - S&P 500 Covered Cal | −$0M |
| QYLD Global X - Nasdaq 100 Covered | −$0M |
| MNA NYLI Merger Arbitrage ETF | −$0M |
| SPHQ Invesco S&P 500 Quality ETF | −$0M |
| PKW Invesco BuyBack Achievers ETF | −$0M |
| SPLV Invesco S&P 500 Low Volatility | −$0M |
| PHB Invesco Fundamental High Yield | −$0M |
| DEF Invesco Defensive Equity ETF | −$0M |
| EMHY iShares J.P. Morgan EM High Yi | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $88M | 70 | -36.19% | +17.59% | -53.78% | +0.01B |
| 2025-12-31 | $102M | 70 | -32.30% | +17.72% | -50.02% | +0.04B |
| 2025-09-30 | $68M | 1 | -55.67% | +17.52% | -73.19% | -0.00B |
| 2025-06-30 | $59M | 1 | -64.02% | +14.94% | -78.96% | -0.00B |
| 2025-03-31 | $78M | 1 | -60.06% | +8.30% | -68.37% | -0.01B |
| 2024-12-31 | $101M | 1 | -64.38% | +24.89% | -89.27% | -0.02B |
| 2024-09-30 | $205M | 1 | -26.13% | +36.04% | -62.17% | -0.00B |
| 2024-06-30 | $220M | 1 | -21.89% | +24.49% | -46.38% | -0.01B |
| 2024-03-31 | $267M | 1 | -7.43% | +29.62% | -37.06% | -0.01B |
| 2023-12-31 | $373M | 1 | +2.84% | +26.18% | -23.34% | -0.01B |
| 2023-09-30 | $304M | 1 | +5.52% | +21.57% | -16.05% | -0.01B |
| 2023-06-30 | $311M | 1 | -23.93% | +19.42% | -43.36% | -0.01B |
| 2023-03-31 | $319M | 1 | -24.48% | -7.82% | -16.66% | -0.01B |
| 2022-12-31 | $403M | 1 | +28.41% | +7.56% | +20.85% | -0.01B |
| 2022-09-30 | $322M | 1 | -27.91% | -4.93% | -22.98% | -0.02B |
| 2022-06-30 | $471M | 1 | -0.22% | -16.11% | +15.89% | -0.01B |