Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-8.63%
trims when stocks drop
when a holding falls −10%+
Middle response
-4.41%
baseline attrition
Rally response
-6.28%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| IVViShares Core S&P 500 ETF | $36M | 8.2% | — | 2.5 yr |
| AVTMAvantis Total Equity Mar | $33M | 7.5% | — | 0.3 yr |
| VBILVanguard 0-3 Month Treas | $25M | 5.7% | — | 0.8 yr |
| IDEViShares Core MSCI Intern | $23M | 5.2% | — | 2.5 yr |
| DFIPDimensional - Inflation- | $21M | 4.7% | — | 1.5 yr |
| DBMFiMGP DBi Managed Futures | $15M | 3.4% | — | 1.5 yr |
| AAPLApple Inc. | $14M | 3.1% | +14.7% | 2.5 yr |
| VEAVanguard FTSE Developed | $13M | 3.0% | — | 2.5 yr |
| VOVanguard Mid-Cap ETF | $13M | 3.0% | — | 2.5 yr |
| VOOVanguard S&P 500 ETF | $12M | 2.6% | — | 2.5 yr |
| AVLVAvantis U.S. Large Cap V | $11M | 2.4% | — | 2.5 yr |
| DFEMDimensional - Emerging M | $10M | 2.4% | — | 2.5 yr |
| IEMGiShares Core MSCI Emergi | $10M | 2.3% | — | 2.5 yr |
| BKLNInvesco Senior Loan ETF | $9M | 1.9% | — | 1.3 yr |
| AVDVAvantis International Sm | $8M | 1.7% | — | 2.0 yr |
Portfolio composition (YoY)
Industry mix
Asset Management80.4%+12.9pp$358M
Consumer Electronics3.1%-2.5pp$14M
Semiconductors1.5%+0.3pp$6M
Oil & Gas Integrated1.3%+1.0pp$6M
Internet Content & Information1.2%+0.0pp$5M
Education & Training Services1.1%+1.1pp$5M
Drug Manufacturers - General1.1%-1.2pp$5M
Trucking0.8%-3.0pp$4M
Software - Infrastructure0.7%-0.3pp$3M
Oil & Gas Midstream0.6%+0.4pp$3M
Country
US99.4%+0.2pp
GB0.1%-0.0pp
IE0.1%-0.0pp
CH0.1%+0.0pp
Unknown0.0%-0.0pp
BM0.0%-0.0pp
TW0.0%+0.0pp
CA0.0%-0.1pp
Top 5: 31.3% · Top 10: 46.4% · Top 25: 69.8%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| KNX | $11M | +0.00B | 34.4% |
| AAPL | $15M | +0.00B | 14.7% |
| NVDA | $1M | +0.00B | 60.9% |
| CVX | $0M | +0.00B | 29.2% |
| UTI | $0M | +0.00B | 40.6% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Top buys this quarter · 15
| ET Energy Transfer LP | +$0M |
| CAT Caterpillar Inc. | +$0M |
| DE Deere & Company | +$0M |
| WMT Walmart Inc. | +$0M |
| CVNA Carvana Co. | +$0M |
| TSLA Tesla, Inc. | +$0M |
| WDC Western Digital Corporation | +$0M |
| KO The Coca-Cola Company | +$0M |
| MRK Merck & Co., Inc. | +$0M |
| FITB Fifth Third Bancorp | +$0M |
Top sells this quarter · 15
| KNX Knight-Swift Transportation Ho | −$11M |
| AAPL Apple Inc. | −$4M |
| CVX Chevron Corporation | −$2M |
| JPM JPMorgan Chase & Co. | −$2M |
| GS The Goldman Sachs Group, Inc. | −$1M |
| MU Micron Technology, Inc. | −$1M |
| DHI D.R. Horton, Inc. | −$1M |
| COST Costco Wholesale Corporation | −$1M |
| KKR KKR & Co. Inc. | −$1M |
| BAC Bank of America Corporation | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $445M | 1882 | +18.77% | +17.59% | +1.18% | +0.02B |
| 2025-12-31 | $427M | 1917 | +11.44% | +17.72% | -6.28% | +0.04B |
| 2025-09-30 | $370M | 1973 | +7.87% | +17.52% | -9.65% | +0.05B |
| 2025-06-30 | $302M | 2022 | +9.94% | +14.94% | -5.00% | +0.01B |
| 2025-03-31 | $280M | 1142 | +13.95% | +8.30% | +5.65% | +0.02B |
| 2024-12-31 | $280M | 1289 | +21.99% | +24.89% | -2.90% | +0.02B |
| 2024-09-30 | $252M | 1203 | +9.26% | +5.75% | +3.50% | +0.06B |
| 2024-06-30 | $176M | 959 | +9.19% | +4.38% | +4.81% | +0.01B |
| 2024-03-31 | $149M | 966 | +0.10% | +10.39% | -10.30% | +0.01B |
| 2023-12-31 | $134M | 1005 | — | — | — | — |