Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-2.76%
trims when stocks drop
when a holding falls −10%+
Middle response
+5.33%
steady accumulation
Rally response
-3.96%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| AAPLApple Inc. | $25M | 6.1% | +14.7% | 3.3 yr |
| CARYAngel Oak Income ETF | $25M | 6.0% | — | 3.3 yr |
| TXUEThornburg International | $18M | 4.3% | — | 1.3 yr |
| GOOGAlphabet Inc. | $13M | 3.2% | +84.3% | 3.3 yr |
| NVDANVIDIA Corporation | $13M | 3.2% | +60.9% | 3.3 yr |
| MSFTMicrosoft Corporation | $12M | 3.0% | -0.6% | 3.3 yr |
| BRK-BBerkshire Hathaway Inc. | $10M | 2.4% | — | 3.3 yr |
| JSIJanus Henderson Securiti | $9M | 2.3% | — | 1.3 yr |
| LLYEli Lilly and Company | $9M | 2.2% | +12.2% | 3.3 yr |
| ACWIiShares MSCI ACWI ETF | $9M | 2.2% | — | 0.8 yr |
| SPYState Street SPDR S&P 50 | $9M | 2.2% | +17.6% | 3.3 yr |
| AUSFGlobal X - Adaptive U.S. | $8M | 2.0% | — | 1.5 yr |
| MINTPIMCO Enhanced Short Mat | $7M | 1.8% | — | 2.3 yr |
| GIGBGoldman Sachs Access Inv | $7M | 1.7% | — | 3.3 yr |
| XLKState Street Technology | $6M | 1.6% | — | 3.3 yr |
Portfolio composition (YoY)
Industry mix
Asset Management40.8%-2.7pp$168M
Semiconductors6.1%+0.8pp$25M
Consumer Electronics6.1%+2.2pp$25M
Internet Content & Information4.6%+0.9pp$19M
Software - Infrastructure4.5%+1.0pp$18M
Drug Manufacturers - General4.1%+0.6pp$17M
Insurance - Diversified3.8%-0.8pp$16M
Software - Application3.2%+0.7pp$13M
Asset Management - Income2.9%-0.5pp$12M
Specialty Retail2.7%+1.8pp$11M
Country
US93.4%+0.9pp
GB2.0%+0.5pp
UY1.3%
NL1.2%-0.2pp
BR0.7%+0.7pp
IN0.7%+0.6pp
TW0.3%+0.1pp
Unknown0.2%-0.9pp
Top 5: 22.9% · Top 10: 35.0% · Top 25: 58.2%
Top buys this quarter · 15
| AAPL Apple Inc. | +$9M |
| INTU Intuit Inc. | +$5M |
| AZN AstraZeneca PLCnew | +$4M |
| HDB HDFC Bank Limited | +$3M |
| AMZN Amazon.com, Inc. | +$3M |
| AVGO Broadcom Inc. | +$2M |
| MELI MercadoLibre, Inc. | +$2M |
| MSFT Microsoft Corporation | +$12M |
| NU Nu Holdings Ltd. | +$2M |
| KMB Kimberly-Clark Corporation | +$1M |
Top sells this quarter · 15
| META Meta Platforms, Inc. | −$3M |
| TOTB.DE TotalEnergies SEexit | −$2M |
| ASML ASML Holding N.V. | −$2M |
| LIN Linde plc | −$2M |
| ANET Arista Networks, Inc. | −$2M |
| ORCL Oracle Corporation | −$1M |
| SPGI S&P Global Inc. | −$1M |
| LINC Lincoln Educational Services Cexit | −$1M |
| PHM PulteGroup, Inc.exit | −$1M |
| ENVX Enovix Corporation | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $411M | 172 | +18.40% | +17.59% | +0.81% | +0.04B |
| 2025-12-31 | $394M | 171 | +19.05% | +17.72% | +1.33% | +0.01B |
| 2025-09-30 | $372M | 173 | +16.66% | +17.52% | -0.85% | -0.01B |
| 2025-06-30 | $353M | 173 | +11.36% | +14.94% | -3.58% | -0.01B |
| 2025-03-31 | $321M | 166 | +2.91% | +8.30% | -5.39% | +0.03B |
| 2024-12-31 | $307M | 160 | +16.42% | +24.89% | -8.46% | +0.00B |
| 2024-09-30 | $304M | 164 | +27.91% | +36.04% | -8.13% | +0.02B |
| 2024-06-30 | $276M | 164 | +18.56% | +24.49% | -5.94% | +0.01B |
| 2024-03-31 | $249M | 178 | +20.14% | +29.62% | -9.49% | +0.02B |
| 2023-12-31 | $212M | 173 | +10.65% | +11.64% | -0.99% | +0.01B |
| 2023-09-30 | $178M | 176 | -4.57% | -3.22% | -1.35% | +0.01B |
| 2023-06-30 | $173M | 183 | +6.90% | +8.68% | -1.78% | +0.01B |
| 2023-03-31 | $154M | 201 | — | — | — | — |