Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+5.31%
adds when stocks drop
when a holding falls −10%+
Middle response
-0.73%
baseline attrition
Rally response
+1.34%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| IVViShares Core S&P 500 ETF | $65M | 2.5% | — | 3.5 yr |
| AAPLApple Inc. | $55M | 2.1% | +14.7% | 3.5 yr |
| SPLGSPDR Portfolio S&P 500 E | $53M | 2.1% | — | 3.5 yr |
| NVDANVIDIA Corporation | $38M | 1.5% | +60.9% | 3.5 yr |
| SPYState Street SPDR S&P 50 | $36M | 1.4% | +17.6% | 3.5 yr |
| EEMAiShares MSCI Emerging Ma | $33M | 1.3% | — | 0.8 yr |
| AVUSAvantis U.S. Equity ETF | $30M | 1.2% | — | 3.3 yr |
| TOUST. Rowe Price Internatio | $29M | 1.1% | — | 0.3 yr |
| SPABState Street SPDR Portfo | $28M | 1.1% | — | 3.5 yr |
| PYLDPIMCO Multisector Bond A | $27M | 1.1% | — | 1.3 yr |
| SPTMState Street SPDR Portfo | $26M | 1.0% | — | 3.5 yr |
| AVUVAvantis U.S. Small Cap V | $24M | 0.9% | — | 3.3 yr |
| IEMGiShares Core MSCI Emergi | $24M | 0.9% | — | 3.3 yr |
| MGKVanguard Mega Cap Growth | $23M | 0.9% | — | 3.0 yr |
| IUSBiShares Core Universal U | $23M | 0.9% | — | 3.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management65.1%-9.9pp$1.66B
Asset Management - Bonds8.2%+0.2pp$210M
Asset Management - Income3.0%+0.8pp$77M
Semiconductors2.6%+1.5pp$66M
Consumer Electronics2.2%+0.4pp$55M
Asset Management - Leveraged1.7%+0.5pp$42M
Internet Content & Information1.5%+0.4pp$39M
Software - Infrastructure1.2%-0.1pp$32M
Specialty Retail1.0%-0.2pp$24M
Drug Manufacturers - General0.9%+0.3pp$24M
Country
US97.6%-2.2pp
Unknown0.8%
CA0.4%+0.3pp
GB0.3%+0.2pp
TW0.2%
IE0.1%+0.1pp
CH0.1%
BM0.1%
Top 5: 9.7% · Top 10: 15.5% · Top 25: 28.5%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| SPY | $18M | +0.00B | 17.6% |
| NVDA | $3M | +0.00B | 60.9% |
| AAPL | $8M | +0.00B | 14.7% |
| AMZN | $5M | +0.00B | 9.5% |
| MSFT | $6M | -0.00B | -0.6% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| MSFT | $6M | -0.00B | -0.6% |
Top buys this quarter · 15
| AAPL Apple Inc. | +$33M |
| NVDA NVIDIA Corporation | +$26M |
| SPY State Street SPDR S&P 500 ETF | +$17M |
| MSFT Microsoft Corporation | +$15M |
| AMZN Amazon.com, Inc. | +$14M |
| META Meta Platforms, Inc. | +$8M |
| AVGO Broadcom Inc. | +$8M |
| TSLA Tesla, Inc. | +$6M |
| ABBV AbbVie Inc. | +$6M |
| JPM JPMorgan Chase & Co. | +$6M |
Top sells this quarter · 15
| FSK FS KKR Capital Corp. | −$7M |
| ILPT Industrial Logistics Propertieexit | −$3M |
| ISRG Intuitive Surgical, Inc. | −$0M |
| BFC Bank First Corporation | −$0M |
| NWL Newell Brands Inc.exit | −$0M |
| CSX CSX Corporation | −$0M |
| OTIS Otis Worldwide Corporation | −$0M |
| AMLP Alerian MLP ETF | −$0M |
| FPF First Trust Intermediate Durat | −$0M |
| FYX First Trust Small Cap Core Alp | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $2.55B | 917 | +21.83% | +17.59% | +4.23% | +1.68B |
| 2025-12-31 | $896M | 455 | +19.04% | +17.72% | +1.33% | +0.14B |
| 2025-09-30 | $739M | 407 | +21.19% | +17.52% | +3.67% | +0.17B |
| 2025-06-30 | $526M | 352 | +18.18% | +14.94% | +3.23% | +0.03B |
| 2025-03-31 | $444M | 308 | +10.77% | +8.30% | +2.47% | +0.08B |
| 2024-12-31 | $385M | 290 | +26.18% | +24.89% | +1.29% | +0.01B |
| 2024-09-30 | $362M | 270 | +33.19% | +36.04% | -2.84% | +0.01B |
| 2024-06-30 | $331M | 264 | +19.92% | +24.49% | -4.58% | +0.04B |
| 2024-03-31 | $279M | 235 | +25.16% | +29.62% | -4.46% | +0.01B |
| 2023-12-31 | $248M | 224 | +24.75% | +26.18% | -1.43% | -0.36B |
| 2023-09-30 | $550M | 256 | -4.56% | -3.22% | -1.33% | +0.02B |
| 2023-06-30 | $554M | 238 | +9.59% | +8.68% | +0.91% | -0.15B |
| 2023-03-31 | $645M | 224 | +7.96% | +7.46% | +0.50% | +0.02B |
| 2022-12-31 | $582M | 200 | — | — | — | — |