Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-9.05%
trims when stocks drop
when a holding falls −10%+
Middle response
-9.58%
baseline attrition
Rally response
-20.11%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| SPTMState Street SPDR Portfo | $56M | 17.2% | — | 1.0 yr |
| VOOVanguard S&P 500 ETF | $20M | 6.3% | — | 3.5 yr |
| VXUSVanguard Total Internati | $15M | 4.7% | — | 3.3 yr |
| COSTCostco Wholesale Corpora | $13M | 4.0% | +5.9% | 3.3 yr |
| SPLGSPDR Portfolio S&P 500 E | $12M | 3.8% | — | 3.3 yr |
| IVEiShares S&P 500 Value ET | $8M | 2.3% | — | 1.0 yr |
| DYNFiShares U.S. Equity Fact | $7M | 2.2% | — | 1.3 yr |
| — | $7M | 2.2% | — | 0.3 yr |
| IVWiShares S&P 500 Growth E | $7M | 2.0% | — | 1.8 yr |
| SIXOAllianzIM U.S. Equity 6 | $6M | 1.9% | — | 1.5 yr |
| NVDANVIDIA Corporation | $6M | 1.8% | +60.9% | 3.5 yr |
| BNDVanguard Total Bond Mark | $6M | 1.7% | — | 3.3 yr |
| AAPLApple Inc. | $5M | 1.5% | +14.7% | 3.5 yr |
| QUALiShares MSCI USA Quality | $5M | 1.4% | — | 1.5 yr |
| MSFTMicrosoft Corporation | $4M | 1.3% | -0.6% | 3.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management69.8%+3.0pp$227M
Asset Management - Bonds4.3%+0.8pp$14M
Discount Stores4.1%+0.6pp$13M
Unknown3.8%-0.2pp$12M
Semiconductors2.7%+1.1pp$9M
Software - Infrastructure1.7%-0.1pp$5M
Consumer Electronics1.5%+0.5pp$5M
Internet Content & Information1.5%+0.2pp$5M
Specialty Retail1.2%+0.2pp$4M
Auto - Manufacturers1.0%+0.3pp$3M
Country
US95.3%+0.4pp
Unknown3.8%-0.2pp
BM0.4%
CA0.2%-0.1pp
IE0.2%+0.0pp
NL0.1%-0.1pp
Top 5: 36.0% · Top 10: 46.6% · Top 25: 65.3%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| NVDA | $4M | +0.00B | 60.9% |
| TSLA | $2M | +0.00B | 43.4% |
| COST | $12M | +0.00B | 5.9% |
| AAPL | $3M | +0.00B | 14.7% |
| AMZN | $3M | +0.00B | 9.5% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| MSFT | $5M | -0.00B | -0.6% |
Top buys this quarter · 15
| COST Costco Wholesale Corporation | +$7M |
| AAPL Apple Inc. | +$1M |
| CMI Cummins Inc. | +$0M |
| PLTR Palantir Technologies Inc.new | +$0M |
| HBNC Horizon Bancorp, Inc. | +$0M |
| SYK Stryker Corporationnew | +$0M |
| AVGO Broadcom Inc. | +$0M |
| MU Micron Technology, Inc. | +$0M |
| WPM Wheaton Precious Metals Corp. | +$0M |
| TXN Texas Instruments Incorporated | +$0M |
Top sells this quarter · 15
| TJX The TJX Companies, Inc. | −$6M |
| VZ Verizon Communications Inc. | −$2M |
| IBM International Business Machine | −$1M |
| NVDA NVIDIA Corporation | −$1M |
| GPC Genuine Parts Company | −$0M |
| MSCI MSCI Inc.exit | −$0M |
| CDNS Cadence Design Systems, Inc.exit | −$0M |
| MSFT Microsoft Corporation | −$0M |
| NOW ServiceNow, Inc.exit | −$0M |
| IDXX IDEXX Laboratories, Inc. | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $326M | 173 | +25.43% | +17.59% | +7.84% | +0.02B |
| 2025-12-31 | $316M | 170 | +21.99% | +17.72% | +4.28% | -0.11B |
| 2025-09-30 | $418M | 192 | +21.98% | +17.52% | +4.47% | -0.01B |
| 2025-06-30 | $398M | 186 | +21.33% | +14.94% | +6.39% | +0.00B |
| 2025-03-31 | $344M | 169 | +6.66% | +8.30% | -1.64% | +0.00B |
| 2024-12-31 | $357M | 175 | +18.84% | +24.89% | -6.05% | -0.15B |
| 2024-09-30 | $496M | 205 | +29.80% | +36.04% | -6.24% | +0.07B |
| 2024-06-30 | $391M | 167 | +15.69% | +24.49% | -8.80% | +0.13B |
| 2024-03-31 | $261M | 122 | +19.54% | +29.62% | -10.08% | -0.31B |
| 2023-12-31 | $538M | 264 | +17.24% | +26.18% | -8.93% | +0.02B |
| 2023-09-30 | $464M | 233 | -3.73% | -3.22% | -0.50% | +0.01B |
| 2023-06-30 | $470M | 238 | +4.47% | +8.68% | -4.22% | +0.03B |
| 2023-03-31 | $425M | 226 | +4.40% | +7.46% | -3.06% | +0.02B |
| 2022-12-31 | $390M | 209 | — | — | — | — |