Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-7.72%
trims when stocks drop
when a holding falls −10%+
Middle response
-1.80%
baseline attrition
Rally response
-3.48%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| IVViShares Core S&P 500 ETF | $81M | 10.0% | — | 3.0 yr |
| BONDPIMCO Active Bond Exchan | $58M | 7.2% | — | 1.3 yr |
| AGGiShares Core U.S. Aggreg | $40M | 5.0% | — | 3.0 yr |
| SPYGState Street SPDR Portfo | $24M | 3.0% | — | 1.5 yr |
| VEAVanguard FTSE Developed | $24M | 3.0% | — | 3.3 yr |
| VOVanguard Mid-Cap ETF | $20M | 2.5% | — | 3.3 yr |
| AAPLApple Inc. | $19M | 2.4% | +14.7% | 3.5 yr |
| DGROiShares Core Dividend Gr | $19M | 2.4% | — | 2.8 yr |
| VNLAJanus Henderson Short Du | $19M | 2.3% | — | 3.0 yr |
| MSFTMicrosoft Corporation | $17M | 2.1% | -0.6% | 3.5 yr |
| GOOGLAlphabet Inc. | $17M | 2.0% | — | 3.3 yr |
| JPMJPMorgan Chase & Co. | $16M | 2.0% | +21.8% | 3.5 yr |
| AMZNAmazon.com, Inc. | $16M | 2.0% | +9.5% | 3.3 yr |
| XONEBondBloxx Bloomberg One | $16M | 1.9% | — | 1.3 yr |
| VZVerizon Communications I | $15M | 1.8% | +16.5% | 3.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management43.2%+4.1pp$349M
Asset Management - Income5.8%-0.4pp$47M
Asset Management - Bonds4.1%+0.3pp$34M
Drug Manufacturers - General3.5%-0.1pp$28M
Telecommunications Services3.1%+0.8pp$25M
Financial - Credit Services2.9%+1.1pp$23M
Internet Content & Information2.5%+0.4pp$20M
Software - Infrastructure2.5%+0.3pp$20M
Consumer Electronics2.4%-0.3pp$19M
Financial - Capital Markets2.3%$18M
Country
US96.3%+0.3pp
JP1.9%-0.2pp
BM1.0%
Unknown0.2%+0.1pp
CA0.2%-1.4pp
IE0.2%+0.0pp
UY0.1%
TW0.0%
Top 5: 28.2% · Top 10: 39.9% · Top 25: 66.5%
Top buys this quarter · 15
| HPQ HP Inc. | +$12M |
| PYPL PayPal Holdings, Inc. | +$11M |
| PVH PVH Corp.new | +$11M |
| INTU Intuit Inc. | +$4M |
| UNH UnitedHealth Group Incorporate | +$3M |
| MSFT Microsoft Corporation | +$17M |
| AMZN Amazon.com, Inc. | +$16M |
| V Visa Inc. | +$11M |
| WFC Wells Fargo & Company | +$1M |
| PG The Procter & Gamble Company | +$1M |
Top sells this quarter · 15
| MGA Magna International Inc.exit | −$15M |
| CSCO Cisco Systems, Inc. | −$13M |
| OTTR Otter Tail Corporationexit | −$6M |
| MRK Merck & Co., Inc. | −$3M |
| WMT Walmart Inc. | −$14M |
| LMT Lockheed Martin Corporation | −$12M |
| CAT Caterpillar Inc. | −$1M |
| AMGN Amgen Inc. | −$13M |
| GOOG Alphabet Inc. | −$0M |
| CRSP CRISPR Therapeutics AGexit | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $809M | 163 | +7.66% | +17.59% | -9.93% | +0.03B |
| 2025-12-31 | $787M | 169 | +10.17% | +17.72% | -7.55% | +0.04B |
| 2025-09-30 | $728M | 167 | +7.77% | +17.52% | -9.74% | +0.06B |
| 2025-06-30 | $648M | 150 | +10.27% | +14.94% | -4.67% | +0.09B |
| 2025-03-31 | $543M | 120 | +7.94% | +8.30% | -0.36% | +0.05B |
| 2024-12-31 | $481M | 79 | +12.68% | +24.89% | -12.21% | +0.16B |
| 2024-09-30 | $318M | 68 | +22.62% | +36.04% | -13.41% | -0.04B |
| 2024-06-30 | $339M | 68 | +12.13% | +24.49% | -12.36% | +0.05B |
| 2024-03-31 | $291M | 78 | +17.83% | +29.62% | -11.79% | +0.01B |
| 2023-12-31 | $270M | 62 | +22.81% | +26.18% | -3.37% | -0.00B |
| 2023-09-30 | $249M | 367 | -3.28% | -3.22% | -0.06% | +0.03B |
| 2023-06-30 | $231M | 274 | +5.60% | +8.68% | -3.08% | +0.01B |
| 2023-03-31 | $205M | 199 | +10.44% | +7.46% | +2.98% | -0.03B |
| 2022-09-30 | $214M | 57 | — | — | — | — |