Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+0.26%
adds when stocks drop
when a holding falls −10%+
Middle response
+0.21%
steady accumulation
Rally response
-0.24%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| SCHFSchwab International Equ | $4.60B | 12.5% | — | 3.3 yr |
| IWMiShares Russell 2000 ETF | $2.13B | 5.8% | — | 3.3 yr |
| VWOVanguard FTSE Emerging M | $1.92B | 5.2% | — | 3.3 yr |
| VNQVanguard Real Estate ETF | $1.50B | 4.1% | — | 3.3 yr |
| SCHPSchwab U.S. TIPS ETF | $1.41B | 3.9% | — | 3.3 yr |
| VGITVanguard Intermediate-Te | $1.41B | 3.8% | — | 3.3 yr |
| SCHASchwab U.S. Small-Cap ET | $1.07B | 2.9% | — | 3.3 yr |
| USIGiShares Broad USD Invest | $1.04B | 2.8% | — | 3.3 yr |
| VGLTVanguard Long-Term Treas | $860M | 2.3% | — | 2.5 yr |
| VSSVanguard FTSE All-World | $729M | 2.0% | — | 3.3 yr |
| VNQIVanguard Global ex-U.S. | $648M | 1.8% | — | 3.3 yr |
| PDBCInvesco Optimum Yield Di | $598M | 1.6% | — | 3.3 yr |
| EBNDSPDR Bloomberg Emerging | $571M | 1.6% | — | 3.3 yr |
| GLDMSPDR Gold MiniShares Tru | $552M | 1.5% | — | 1.3 yr |
| AAPLApple Inc. | $534M | 1.5% | +14.7% | 3.3 yr |
Portfolio composition (YoY)
Industry mix
Asset Management54.9%+1.0pp$20.14B
Asset Management - Bonds5.4%+0.1pp$1.98B
Regulated Electric3.0%+0.0pp$1.10B
Internet Content & Information2.5%+0.2pp$901M
Drug Manufacturers - General2.4%+0.2pp$872M
Chemicals - Specialty2.0%-0.3pp$733M
Discount Stores1.9%+0.2pp$713M
Semiconductors1.8%+0.6pp$667M
Asset Management - Global1.8%-0.6pp$648M
Consumer Electronics1.5%-0.0pp$534M
Country
US99.5%-0.1pp
GB0.5%+0.1pp
IE0.0%+0.0pp
CA0.0%+0.0pp
SG0.0%+0.0pp
TW0.0%+0.0pp
CH0.0%+0.0pp
Unknown0.0%-0.0pp
Top 5: 31.5% · Top 10: 45.4% · Top 25: 65.5%
Top buys this quarter · 15
| GE GE Aerospace | +$75M |
| LIN Linde plc | +$70M |
| MSFT Microsoft Corporation | +$415M |
| D Dominion Energy, Inc. | +$62M |
| META Meta Platforms, Inc. | +$44M |
| AMZN Amazon.com, Inc. | +$443M |
| NFLX Netflix, Inc. | +$34M |
| HOOD Robinhood Markets, Inc. | +$27M |
| TMUS T-Mobile US, Inc. | +$25M |
| PG The Procter & Gamble Company | +$24M |
Top sells this quarter · 15
| GOOG Alphabet Inc. | −$167M |
| AES The AES Corporation | −$65M |
| CAT Caterpillar Inc. | −$57M |
| SCCO Southern Copper Corporation | −$52M |
| ALB Albemarle Corporation | −$49M |
| OC Owens Corning | −$46M |
| IBKR Interactive Brokers Group, Inc | −$44M |
| PYPL PayPal Holdings, Inc. | −$43M |
| GS The Goldman Sachs Group, Inc. | −$35M |
| SNOW Snowflake Inc. | −$11M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $36.70B | 508 | +17.01% | +17.59% | -0.58% | +1.19B |
| 2025-12-31 | $35.32B | 499 | +13.61% | +17.72% | -4.11% | -0.01B |
| 2025-09-30 | $34.48B | 526 | +11.88% | +17.52% | -5.64% | +0.35B |
| 2025-06-30 | $31.91B | 494 | +12.07% | +14.94% | -2.87% | +0.88B |
| 2025-03-31 | $29.23B | 493 | +5.36% | +8.30% | -2.94% | +1.52B |
| 2024-12-31 | $28.39B | 496 | +15.01% | +24.89% | -9.88% | -0.21B |
| 2024-09-30 | $28.34B | 500 | +27.00% | +36.04% | -9.03% | +0.71B |
| 2024-06-30 | $25.78B | 488 | +13.06% | +24.49% | -11.43% | +0.22B |
| 2024-03-31 | $25.61B | 493 | +18.98% | +29.62% | -10.64% | -0.32B |
| 2023-12-31 | $24.34B | 473 | +11.42% | +11.64% | -0.22% | +0.48B |
| 2023-09-30 | $21.41B | 457 | -4.62% | -3.22% | -1.40% | +0.40B |
| 2023-06-30 | $22.03B | 478 | +5.05% | +8.68% | -3.63% | -0.16B |
| 2023-03-31 | $21.13B | 481 | — | — | — | — |