Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-8.95%
trims when stocks drop
when a holding falls −10%+
Middle response
-1.37%
baseline attrition
Rally response
-7.68%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| SGOViShares 0-3 Month Treasu | $64M | 4.8% | — | 3.0 yr |
| TSLATesla, Inc. | $63M | 4.7% | +43.4% | 3.0 yr |
| NVDANVIDIA Corporation | $37M | 2.8% | +60.9% | 3.3 yr |
| IJHiShares Core S&P Mid-Cap | $36M | 2.7% | — | 3.3 yr |
| IWMiShares Russell 2000 ETF | $34M | 2.6% | — | 3.3 yr |
| BRK-BBerkshire Hathaway Inc. | $33M | 2.5% | — | 3.3 yr |
| SPYState Street SPDR S&P 50 | $27M | 2.1% | +17.6% | 3.3 yr |
| MGVVanguard Mega Cap Value | $27M | 2.0% | — | 1.3 yr |
| IBTKiShares iBonds Dec 2030 | $24M | 1.8% | — | 1.3 yr |
| BOXXAlpha Architect 1-3 Mont | $24M | 1.8% | — | 1.3 yr |
| IWYiShares Russell Top 200 | $24M | 1.8% | — | 3.3 yr |
| RSPInvesco S&P 500 Equal We | $22M | 1.7% | — | 3.3 yr |
| AMZNAmazon.com, Inc. | $21M | 1.6% | +9.5% | 3.3 yr |
| VUSBVanguard Ultra-Short Bon | $21M | 1.6% | — | 2.3 yr |
| AAPLApple Inc. | $20M | 1.5% | +14.7% | 3.3 yr |
Portfolio composition (YoY)
Industry mix
Asset Management49.4%+2.8pp$653M
Asset Management - Bonds15.9%-0.6pp$210M
Auto - Manufacturers4.7%-0.5pp$63M
Semiconductors4.4%+0.2pp$58M
Software - Infrastructure2.7%+0.4pp$36M
Insurance - Diversified2.5%+0.9pp$33M
Internet Content & Information2.5%+0.4pp$32M
Asset Management - Income1.8%+1.6pp$23M
Asset Management - Leveraged1.7%+1.1pp$23M
Specialty Retail1.7%-0.0pp$22M
Country
US98.7%+3.8pp
CA0.3%-0.1pp
LU0.2%-0.2pp
IE0.2%+0.0pp
Unknown0.2%-3.1pp
GB0.1%-0.0pp
TW0.1%+0.0pp
NL0.1%-0.0pp
Top 5: 17.7% · Top 10: 27.9% · Top 25: 47.8%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| TSLA | $45M | +0.02B | 43.4% |
| NVDA | $26M | +0.02B | 60.9% |
| PLTR | $9M | +0.01B | 73.3% |
| SPY | $17M | +0.00B | 17.6% |
| AAPL | $15M | +0.00B | 14.7% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Top buys this quarter · 15
| MSFT Microsoft Corporation | +$5M |
| AMZN Amazon.com, Inc. | +$4M |
| PB Prosperity Bancshares, Inc.new | +$3M |
| CRWD CrowdStrike Holdings, Inc. | +$3M |
| PCT PureCycle Technologies, Inc.new | +$2M |
| META Meta Platforms, Inc. | +$2M |
| SPY State Street SPDR S&P 500 ETF | +$1M |
| SNOW Snowflake Inc. | +$1M |
| AMD Advanced Micro Devices, Inc. | +$1M |
| PANW Palo Alto Networks, Inc. | +$1M |
Top sells this quarter · 15
| DIS The Walt Disney Companyexit | −$2M |
| VNOM Viper Energy, Inc. | −$9M |
| SLB SLB N.V. | −$2M |
| RKT Rocket Companies, Inc. | −$1M |
| SN SharkNinja, Inc. | −$1M |
| FDX FedEx Corporation | −$1M |
| FOXA Fox Corporationexit | −$1M |
| UNH UnitedHealth Group Incorporate | −$1M |
| XOM Exxon Mobil Corporation | −$5M |
| BA The Boeing Company | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.32B | 395 | +30.80% | +17.59% | +13.21% | +0.17B |
| 2025-12-31 | $1.24B | 375 | +24.63% | +17.72% | +6.91% | +0.10B |
| 2025-09-30 | $1.14B | 310 | +48.10% | +17.52% | +30.58% | -0.02B |
| 2025-06-30 | $1.00B | 316 | +35.98% | +14.94% | +21.04% | -0.04B |
| 2025-03-31 | $862M | 291 | +16.71% | +8.30% | +8.41% | +0.09B |
| 2024-12-31 | $868M | 303 | +30.55% | +24.89% | +5.66% | +0.04B |
| 2024-09-30 | $691M | 277 | +13.65% | +36.04% | -22.38% | -0.01B |
| 2024-06-30 | $660M | 259 | -1.15% | +24.49% | -25.64% | +0.07B |
| 2024-03-31 | $571M | 253 | -0.10% | +29.62% | -29.72% | +0.03B |
| 2023-12-31 | $540M | 219 | +3.80% | +11.64% | -7.84% | +0.03B |
| 2023-09-30 | $487M | 213 | -7.79% | -3.22% | -4.57% | +0.02B |
| 2023-06-30 | $508M | 223 | +4.91% | +8.68% | -3.77% | +0.01B |
| 2023-03-31 | $473M | 218 | — | — | — | — |