Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-2.45%
trims when stocks drop
when a holding falls −10%+
Middle response
+0.31%
steady accumulation
Rally response
+0.20%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| VONGVanguard Russell 1000 Gr | $120M | 8.5% | — | 4.5 yr |
| SHMState Street SPDR Nuveen | $103M | 7.3% | — | 4.5 yr |
| SHYiShares 1-3 Year Treasur | $64M | 4.5% | — | 4.5 yr |
| EFGiShares MSCI EAFE Growth | $63M | 4.5% | — | 4.5 yr |
| IEMGiShares Core MSCI Emergi | $63M | 4.4% | — | 4.5 yr |
| DFLVDimensional - US Large C | $53M | 3.7% | — | 3.3 yr |
| SPTSState Street SPDR Portfo | $38M | 2.7% | — | 4.5 yr |
| AAPLApple Inc. | $37M | 2.6% | +14.7% | 4.5 yr |
| DFIVDimensional - Internatio | $31M | 2.2% | — | 4.5 yr |
| IAUiShares Gold Trust | $31M | 2.2% | — | 4.5 yr |
| BWZSPDR Bloomberg Short Ter | $30M | 2.1% | — | 4.5 yr |
| GSGiShares S&P GSCI Commodi | $30M | 2.1% | — | 4.5 yr |
| AVUVAvantis U.S. Small Cap V | $30M | 2.1% | — | 1.0 yr |
| EEMiShares MSCI Emerging Ma | $29M | 2.1% | — | 4.5 yr |
| RWOState Street SPDR Dow Jo | $27M | 1.9% | — | 4.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management64.4%-3.5pp$909M
Semiconductors3.2%+0.9pp$45M
Asset Management - Global2.8%-0.3pp$40M
Asset Management - Leveraged2.7%+0.7pp$38M
Consumer Electronics2.7%-0.7pp$38M
Internet Content & Information2.1%+0.5pp$30M
Software - Infrastructure1.7%-0.3pp$24M
Software - Application1.6%+0.9pp$23M
Oil & Gas Exploration & Production1.0%+0.8pp$14M
Drug Manufacturers - General1.0%-0.2pp$14M
Country
US98.0%-1.3pp
IL0.3%+0.3pp
GB0.3%+0.2pp
IE0.2%+0.0pp
MX0.2%+0.2pp
BR0.2%+0.2pp
Unknown0.2%+0.1pp
CA0.1%+0.0pp
Top 5: 29.3% · Top 10: 42.8% · Top 25: 63.9%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| NVDA | $14M | +0.01B | 60.9% |
| AAPL | $32M | +0.00B | 14.7% |
| GOOG | $5M | +0.00B | 84.3% |
| TPL | $0M | +0.00B | 8.1% |
| MSFT | $15M | -0.00B | -0.6% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| MSFT | $15M | -0.00B | -0.6% |
Top buys this quarter · 15
| TPL Texas Pacific Land Corporation | +$4M |
| GENI Genius Sports Limited | +$2M |
| C Citigroup Inc. | +$1M |
| CHWY Chewy, Inc. | +$1M |
| TREX Trex Company, Inc. | +$1M |
| ENPH Enphase Energy, Inc. | +$0M |
| LASR nLIGHT, Inc.new | +$0M |
| SVV Savers Value Village, Inc.new | +$0M |
| APPF AppFolio, Inc. | +$1M |
| TTAN ServiceTitan, Inc. | +$1M |
Top sells this quarter · 15
| MSFT Microsoft Corporation | −$2M |
| SPY State Street SPDR S&P 500 ETF | −$2M |
| NVDA NVIDIA Corporation | −$1M |
| AMZN Amazon.com, Inc. | −$1M |
| AAPL Apple Inc. | −$1M |
| STRL Sterling Infrastructure, Inc. | −$1M |
| META Meta Platforms, Inc. | −$1M |
| AVGO Broadcom Inc. | −$1M |
| TSLA Tesla, Inc. | −$1M |
| MOD Modine Manufacturing Company | −$2M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.41B | 1529 | +20.62% | +17.59% | +3.02% | +0.09B |
| 2025-12-31 | $1.39B | 1565 | +18.27% | +17.72% | +0.55% | +0.15B |
| 2025-09-30 | $1.19B | 1427 | +17.41% | +17.52% | -0.10% | +0.05B |
| 2025-06-30 | $1.04B | 282 | +13.67% | +14.94% | -1.27% | -0.02B |
| 2025-03-31 | $953M | 1324 | +4.80% | +8.30% | -3.50% | +0.05B |
| 2024-12-31 | $966M | 1334 | +18.76% | +24.89% | -6.12% | -0.05B |
| 2024-09-30 | $985M | 1355 | +29.07% | +36.04% | -6.97% | +0.02B |
| 2024-06-30 | $909M | 1348 | +13.48% | +24.49% | -11.01% | +0.04B |
| 2024-03-31 | $856M | 1357 | +18.73% | +29.62% | -10.89% | +0.07B |
| 2023-12-31 | $744M | 1330 | +20.69% | +26.18% | -5.49% | +0.03B |
| 2023-09-30 | $641M | 1315 | +11.60% | +21.57% | -9.97% | +0.04B |
| 2023-06-30 | $639M | 1322 | +16.11% | +19.42% | -3.31% | +0.01B |
| 2023-03-31 | $586M | 1326 | -13.32% | -7.82% | -5.51% | -0.00B |
| 2022-12-31 | $547M | 1319 | -23.35% | -18.17% | -5.18% | +0.05B |
| 2022-09-30 | $483M | 1212 | -2.58% | -4.93% | +2.34% | +0.03B |
| 2022-06-30 | $468M | 1158 | -20.46% | -16.11% | -4.35% | +0.04B |