Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-3.82%
trims when stocks drop
when a holding falls −10%+
Middle response
-1.23%
baseline attrition
Rally response
-0.12%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| VTIVanguard Total Stock Mar | $154M | 12.3% | — | 4.5 yr |
| DFACDimensional - US Core Eq | $149M | 11.9% | — | 4.5 yr |
| METAMeta Platforms, Inc. | $104M | 8.4% | -0.4% | 4.5 yr |
| VOOVanguard S&P 500 ETF | $41M | 3.3% | — | 0.8 yr |
| DFAXDimensional - World ex U | $38M | 3.0% | — | 4.5 yr |
| VEAVanguard FTSE Developed | $34M | 2.7% | — | 4.5 yr |
| SPYState Street SPDR S&P 50 | $32M | 2.6% | +17.6% | 4.5 yr |
| DFUVDimensional - US Marketw | $31M | 2.5% | — | 4.0 yr |
| AAPLApple Inc. | $28M | 2.2% | +14.7% | 4.5 yr |
| AVDEAvantis International Eq | $27M | 2.2% | — | 4.5 yr |
| AVUSAvantis U.S. Equity ETF | $22M | 1.7% | — | 4.5 yr |
| DFATDimensional - US Targete | $20M | 1.6% | — | 4.5 yr |
| VXUSVanguard Total Internati | $18M | 1.4% | — | 4.5 yr |
| DFUSDimensional - US Equity | $17M | 1.4% | — | 4.5 yr |
| DFEMDimensional - Emerging M | $15M | 1.2% | — | 4.0 yr |
Portfolio composition (YoY)
Industry mix
Asset Management73.3%+2.1pp$916M
Internet Content & Information10.1%-2.0pp$127M
Semiconductors2.3%+1.0pp$29M
Consumer Electronics2.2%-0.2pp$28M
Asset Management - Bonds1.7%-0.0pp$21M
Software - Infrastructure1.0%-0.2pp$12M
Regulated Electric1.0%+0.2pp$12M
Asset Management - Leveraged0.9%+0.3pp$12M
Insurance - Diversified0.9%-0.4pp$11M
Oil & Gas Integrated0.8%-0.0pp$10M
Country
US99.2%-0.3pp
CA0.2%+0.0pp
SG0.1%
IE0.1%+0.0pp
TW0.1%+0.0pp
GB0.1%+0.0pp
IL0.1%+0.0pp
CH0.1%+0.0pp
Top 5: 38.9% · Top 10: 51.0% · Top 25: 68.2%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| OKLO | $8M | +0.01B | 129.3% |
| GOOG | $8M | +0.01B | 84.3% |
| SPY | $30M | +0.01B | 17.6% |
| AAPL | $25M | +0.00B | 14.7% |
| AMZN | $8M | +0.00B | 9.5% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| META | $112M | -0.00B | -0.4% |
Top buys this quarter · 15
| GOOG Alphabet Inc. | +$13M |
| PGR The Progressive Corporation | +$1M |
| ILMN Illumina, Inc. | +$1M |
| AMD Advanced Micro Devices, Inc. | +$0M |
| AOS A. O. Smith Corporation | +$0M |
| META Meta Platforms, Inc. | +$104M |
| FANG Diamondback Energy, Inc.new | +$0M |
| MU Micron Technology, Inc. | +$0M |
| MSTR Strategy Inc | +$0M |
| GWW W.W. Grainger, Inc. | +$0M |
Top sells this quarter · 15
| NVDA NVIDIA Corporation | −$2M |
| AAPL Apple Inc. | −$1M |
| CRM Salesforce, Inc. | −$1M |
| QCOM QUALCOMM Incorporated | −$1M |
| MSFT Microsoft Corporation | −$1M |
| OXY Occidental Petroleum Corporati | −$0M |
| AMZN Amazon.com, Inc. | −$0M |
| PLTR Palantir Technologies Inc. | −$0M |
| ARCC Ares Capital Corporation | −$0M |
| COST Costco Wholesale Corporation | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.25B | 369 | +19.82% | +17.59% | +2.23% | +0.13B |
| 2025-12-31 | $1.21B | 341 | +23.53% | +17.72% | +5.81% | -0.04B |
| 2025-09-30 | $1.30B | 374 | +33.99% | +17.52% | +16.47% | +0.01B |
| 2025-06-30 | $1.15B | 346 | +30.56% | +14.94% | +15.62% | -0.09B |
| 2025-03-31 | $1.03B | 340 | +14.43% | +8.30% | +6.13% | +0.03B |
| 2024-12-31 | $1.05B | 332 | +44.20% | +24.89% | +19.32% | -0.10B |
| 2024-09-30 | $1.10B | 332 | +57.40% | +36.04% | +21.36% | -0.02B |
| 2024-06-30 | $1.03B | 325 | +44.14% | +24.49% | +19.64% | -0.07B |
| 2024-03-31 | $1.05B | 344 | +62.46% | +29.62% | +32.83% | -0.03B |
| 2023-12-31 | $896M | 327 | +69.28% | +26.18% | +43.10% | +0.00B |
| 2023-09-30 | $786M | 302 | +50.86% | +21.57% | +29.29% | -0.02B |
| 2023-06-30 | $811M | 316 | +40.01% | +19.42% | +20.59% | -0.09B |
| 2023-03-31 | $757M | 311 | -5.69% | -7.82% | +2.13% | -0.14B |
| 2022-12-31 | $712M | 306 | -28.35% | -18.17% | -10.18% | +0.07B |
| 2022-09-30 | $635M | 310 | -7.50% | -4.93% | -2.58% | +0.03B |
| 2022-06-30 | $657M | 312 | -19.90% | -16.11% | -3.79% | +0.09B |