Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-0.82%
trims when stocks drop
when a holding falls −10%+
Middle response
+0.39%
steady accumulation
Rally response
+0.68%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| JNJJohnson & Johnson | $1.71B | 42.6% | +51.5% | 4.5 yr |
| SPYState Street SPDR S&P 50 | $464M | 11.6% | +17.6% | 4.5 yr |
| IVViShares Core S&P 500 ETF | $349M | 8.7% | — | 4.3 yr |
| AAPLApple Inc. | $223M | 5.5% | +14.7% | 4.5 yr |
| TBILUS Treasury 3 Month Bill | $42M | 1.0% | — | 0.8 yr |
| VOOVanguard S&P 500 ETF | $39M | 1.0% | — | 4.3 yr |
| MSFTMicrosoft Corporation | $39M | 1.0% | -0.6% | 4.5 yr |
| NVDANVIDIA Corporation | $39M | 1.0% | +60.9% | 4.5 yr |
| PEPPepsiCo, Inc. | $34M | 0.8% | +7.7% | 4.5 yr |
| SPYVState Street SPDR Portfo | $32M | 0.8% | — | 1.8 yr |
| AVDEAvantis International Eq | $30M | 0.7% | — | 1.3 yr |
| HEDGEquable Shares Hedged Eq | $26M | 0.7% | — | 0.5 yr |
| IJHiShares Core S&P Mid-Cap | $26M | 0.6% | — | 4.3 yr |
| TLTiShares 20+ Year Treasur | $24M | 0.6% | — | 4.3 yr |
| AVGOBroadcom Inc. | $24M | 0.6% | +86.0% | 4.5 yr |
Portfolio composition (YoY)
Industry mix
Drug Manufacturers - General43.2%+1.2pp$1.74B
Asset Management33.5%-4.3pp$1.35B
Consumer Electronics5.6%-1.1pp$223M
Semiconductors2.3%+1.1pp$93M
Software - Infrastructure1.3%-0.1pp$50M
Internet Content & Information1.2%+0.4pp$48M
Beverages - Non-Alcoholic1.0%-0.2pp$38M
Asset Management - Bonds0.9%-0.2pp$35M
Specialty Retail0.6%+0.2pp$24M
Banks - Diversified0.5%+0.1pp$22M
Country
US99.0%-0.0pp
Unknown0.3%-0.2pp
GB0.2%+0.1pp
IE0.2%+0.0pp
CA0.1%+0.0pp
CH0.1%+0.0pp
TW0.1%+0.0pp
JP0.0%+0.0pp
Top 5: 69.4% · Top 10: 74.0% · Top 25: 82.0%
Top buys this quarter · 15
| NVDA NVIDIA Corporation | +$5M |
| META Meta Platforms, Inc. | +$3M |
| AAPL Apple Inc. | +$223M |
| AMZN Amazon.com, Inc. | +$2M |
| NFLX Netflix, Inc. | +$2M |
| COST Costco Wholesale Corporation | +$2M |
| LIN Linde plc | +$1M |
| MA Mastercard Incorporated | +$1M |
| MU Micron Technology, Inc. | +$1M |
| LLY Eli Lilly and Company | +$7M |
Top sells this quarter · 15
| JNJ Johnson & Johnson | −$1.46B |
| SPY State Street SPDR S&P 500 ETF | −$11M |
| MSFT Microsoft Corporation | −$1M |
| AHR American Healthcare REIT, Inc.exit | −$1M |
| PBR Petróleo Brasileiro S.A. - Pe | −$1M |
| DIS The Walt Disney Company | −$1M |
| KKR KKR & Co. Inc.exit | −$0M |
| V Visa Inc. | −$0M |
| APP AppLovin Corporationexit | −$0M |
| UNH UnitedHealth Group Incorporate | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $4.02B | 818 | +34.25% | +17.59% | +16.66% | -0.08B |
| 2025-12-31 | $3.79B | 759 | +30.97% | +17.72% | +13.25% | -0.01B |
| 2025-09-30 | $3.53B | 701 | +16.44% | +17.52% | -1.08% | -0.04B |
| 2025-06-30 | $3.07B | 659 | +9.75% | +14.94% | -5.19% | +0.23B |
| 2025-03-31 | $2.86B | 500 | +8.91% | +8.30% | +0.61% | +0.04B |
| 2024-12-31 | $2.67B | 499 | +6.37% | +24.89% | -18.51% | +0.06B |
| 2024-09-30 | $2.73B | 508 | +16.24% | +36.04% | -19.80% | +0.15B |
| 2024-06-30 | $2.35B | 396 | +0.25% | +24.49% | -24.24% | +0.12B |
| 2024-03-31 | $2.26B | 315 | +11.99% | +29.62% | -17.64% | +0.08B |
| 2023-12-31 | $2.12B | 231 | +20.98% | +26.18% | -5.20% | -0.07B |
| 2023-09-30 | $2.10B | 203 | +20.92% | +21.57% | -0.64% | +0.01B |
| 2023-06-30 | $2.21B | 200 | +23.73% | +19.42% | +4.30% | +1.16B |
| 2023-03-31 | $952M | 252 | -6.75% | -7.82% | +1.06% | +0.01B |
| 2022-12-31 | $850M | 243 | -19.91% | -18.17% | -1.74% | +0.07B |
| 2022-09-30 | $741M | 180 | -3.34% | -4.93% | +1.59% | +0.02B |
| 2022-06-30 | $747M | 126 | -16.96% | -16.11% | -0.85% | -0.01B |