Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-1.29%
trims when stocks drop
when a holding falls −10%+
Middle response
-3.23%
baseline attrition
Rally response
-1.52%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| DFACDimensional - US Core Eq | $55M | 16.5% | — | 4.3 yr |
| VNQVanguard Real Estate ETF | $38M | 11.5% | — | 4.5 yr |
| SCHOSchwab Short-Term U.S. T | $30M | 8.9% | — | 4.5 yr |
| DFICDimensional - Internatio | $22M | 6.4% | — | 4.0 yr |
| AVUSAvantis U.S. Equity ETF | $21M | 6.2% | — | 4.5 yr |
| VTEBVanguard Tax-Exempt Bond | $16M | 4.8% | — | 4.5 yr |
| AVDEAvantis International Eq | $16M | 4.7% | — | 4.5 yr |
| SCHBSchwab U.S. Broad Market | $13M | 4.0% | — | 4.5 yr |
| DFSDDimensional - Short Dura | $13M | 3.7% | — | 3.5 yr |
| AVEMAvantis Emerging Markets | $10M | 2.9% | — | 4.5 yr |
| DFEMDimensional - Emerging M | $8M | 2.4% | — | 3.8 yr |
| SCHHSchwab U.S. REIT ETF | $7M | 2.0% | — | 4.5 yr |
| AVUVAvantis U.S. Small Cap V | $5M | 1.5% | — | 4.5 yr |
| DFATDimensional - US Targete | $5M | 1.5% | — | 4.3 yr |
| AVSCAvantis U.S. Small Cap E | $4M | 1.2% | — | 2.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management83.4%+1.8pp$279M
Asset Management - Leveraged10.0%-0.4pp$33M
REIT - Office1.4%$5M
Asset Management - Bonds1.1%+0.5pp$4M
Consumer Electronics0.6%+0.1pp$2M
Banks - Regional0.5%+0.4pp$2M
Internet Content & Information0.3%+0.1pp$1M
Drug Manufacturers - General0.3%+0.0pp$1M
Financial - Credit Services0.3%-0.0pp$1M
Software - Infrastructure0.2%-0.0pp$1M
Country
US100.0%+0.1pp
Top 5: 49.6% · Top 10: 69.8% · Top 25: 86.1%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| AAPL | $2M | +0.00B | 14.7% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Top buys this quarter · 15
| JBGS JBG SMITH Properties | +$3M |
| AUB Atlantic Union Bankshares Corpnew | +$1M |
| CBNK Capital Bancorp, Inc.new | +$1M |
| LMT Lockheed Martin Corporationnew | +$0M |
| NOC Northrop Grumman Corporationnew | +$0M |
| RTX RTX Corporationnew | +$0M |
| AAPL Apple Inc. | +$2M |
| AMZN Amazon.com, Inc. | +$0M |
| BAC Bank of America Corporation | +$0M |
| MSFT Microsoft Corporation | +$1M |
Top sells this quarter · 15
| JPM JPMorgan Chase & Co. | −$3M |
| BHRB Burke & Herbert Financial Servexit | −$1M |
| CVX Chevron Corporation | −$0M |
| MA Mastercard Incorporated | −$0M |
| PM Philip Morris International In | −$0M |
| GOOGL Alphabet Inc. | −$0M |
| AVEM Avantis Emerging Markets Equit | −$9M |
| AVDE Avantis International Equity E | −$15M |
| AVDV Avantis International Small Ca | −$2M |
| AVUS Avantis U.S. Equity ETF | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $335M | 104 | +27.14% | +17.59% | +9.55% | -0.01B |
| 2025-12-31 | $320M | 94 | +8.25% | +17.72% | -9.47% | +0.00B |
| 2025-09-30 | $307M | 88 | +5.48% | +17.52% | -12.03% | -0.03B |
| 2025-06-30 | $321M | 82 | +9.14% | +14.94% | -5.80% | -0.01B |
| 2025-03-31 | $316M | 83 | +9.84% | +8.30% | +1.54% | +0.05B |
| 2024-12-31 | $284M | 65 | +22.12% | +24.89% | -2.76% | -0.01B |
| 2024-09-30 | $286M | 65 | +35.65% | +36.04% | -0.39% | -0.01B |
| 2024-06-30 | $269M | 66 | +15.40% | +24.49% | -9.10% | -0.00B |
| 2024-03-31 | $256M | 59 | +18.80% | +29.62% | -10.82% | +0.00B |
| 2023-12-31 | $246M | 54 | +16.47% | +26.18% | -9.71% | -0.01B |
| 2023-09-30 | $224M | 54 | +14.82% | +21.57% | -6.75% | +0.00B |
| 2023-06-30 | $236M | 52 | +11.13% | +19.42% | -8.29% | -0.01B |
| 2023-03-31 | $229M | 52 | -12.57% | -7.82% | -4.76% | +0.01B |
| 2022-12-31 | $220M | 53 | -17.77% | -18.17% | +0.40% | +0.01B |
| 2022-09-30 | $189M | 47 | -9.55% | -4.93% | -4.62% | +0.01B |
| 2022-06-30 | $196M | 49 | -14.22% | -16.11% | +1.89% | +0.04B |