Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+3.12%
adds when stocks drop
when a holding falls −10%+
Middle response
+0.84%
steady accumulation
Rally response
-0.91%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| FBNDFidelity Total Bond ETF | $34M | 6.7% | — | 2.8 yr |
| DFACDimensional - US Core Eq | $27M | 5.3% | — | 1.3 yr |
| JMUBJPMorgan Municipal ETF | $25M | 4.8% | — | 1.0 yr |
| IDEViShares Core MSCI Intern | $19M | 3.7% | — | 1.5 yr |
| AVUVAvantis U.S. Small Cap V | $17M | 3.3% | — | 2.3 yr |
| IGSBiShares 1-5 Year Investm | $14M | 2.8% | — | 3.3 yr |
| PYLDPIMCO Multisector Bond A | $14M | 2.7% | — | 1.5 yr |
| VTIVanguard Total Stock Mar | $12M | 2.4% | — | 1.8 yr |
| AVEMAvantis Emerging Markets | $11M | 2.2% | — | 1.5 yr |
| AAPLApple Inc. | $11M | 2.2% | +14.7% | 3.3 yr |
| BNDXVanguard Total Internati | $11M | 2.1% | — | 1.5 yr |
| MLNVanEck Long Muni ETF | $10M | 2.0% | — | 3.3 yr |
| DFIVDimensional - Internatio | $10M | 2.0% | — | 1.5 yr |
| STGWStagwell Inc. | $10M | 1.9% | +4.0% | 1.0 yr |
| AVDEAvantis International Eq | $9M | 1.8% | — | 1.0 yr |
Portfolio composition (YoY)
Industry mix
Asset Management54.5%+0.3pp$278M
Asset Management - Bonds17.3%-0.5pp$88M
Semiconductors3.1%+0.7pp$16M
Consumer Electronics2.2%-0.6pp$11M
Asset Management - Leveraged2.0%+1.8pp$10M
Advertising Agencies1.9%+1.5pp$10M
Asset Management - Global1.6%+0.1pp$8M
Discount Stores1.5%-0.2pp$8M
Specialty Retail1.4%-0.2pp$7M
Internet Content & Information1.2%+0.3pp$6M
Country
US99.3%-0.0pp
Unknown0.4%+0.3pp
CH0.1%-0.0pp
TW0.1%
GB0.0%-0.0pp
CA0.0%
Top 5: 23.8% · Top 10: 36.0% · Top 25: 58.7%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| NVDA | $4M | +0.00B | 60.9% |
| AAPL | $10M | +0.00B | 14.7% |
| SPY | $5M | +0.00B | 17.6% |
| 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
| DECK Deckers Outdoor Corporationnew | +$2M |
| CRUS Cirrus Logic, Inc.new | +$2M |
| NVST Envista Holdings Corpnew | +$1M |
| TMUS T-Mobile US, Inc.new | +$1M |
| NFLX Netflix, Inc. | +$0M |
| AMAT Applied Materials, Inc.new | +$0M |
| ZTS Zoetis Inc. | +$0M |
| NVDA NVIDIA Corporation | +$7M |
| SNDK Sandisk Corporationnew | +$0M |
| LRCX Lam Research Corporationnew | +$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $510M | 205 | +16.07% | +17.59% | -1.52% | +0.02B |
| 2025-12-31 | $492M | 209 | +12.00% | +17.72% | -5.71% | +0.03B |
| 2025-09-30 | $461M | 204 | +14.43% | +17.52% | -3.08% | +0.01B |
| 2025-06-30 | $414M | 203 | +9.59% | +14.94% | -5.35% | +0.03B |
| 2025-03-31 | $356M | 195 | +5.67% | +8.30% | -2.64% | +0.03B |
| 2024-12-31 | $338M | 191 | +19.86% | +24.89% | -5.03% | +0.01B |
| 2024-09-30 | $323M | 186 | +30.57% | +36.04% | -5.46% | +0.04B |
| 2024-06-30 | $276M | 171 | +20.00% | +24.49% | -4.50% | +0.01B |
| 2024-03-31 | $255M | 158 | +24.66% | +29.62% | -4.96% | +0.00B |
| 2023-12-31 | $231M | 146 | +11.25% | +11.64% | -0.39% | +0.01B |
| 2023-09-30 | $200M | 138 | -4.19% | -3.22% | -0.96% | +0.01B |
| 2023-06-30 | $193M | 141 | +7.93% | +8.68% | -0.75% | +0.03B |
| 2023-03-31 | $153M | 129 | — | — | — | — |