Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-5.44%
trims when stocks drop
when a holding falls −10%+
Middle response
-1.06%
baseline attrition
Rally response
+1.10%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| AAPLApple Inc. | $78M | 3.7% | +14.7% | 3.0 yr |
| SPYState Street SPDR S&P 50 | $54M | 2.6% | +17.6% | 3.0 yr |
| NVDANVIDIA Corporation | $52M | 2.5% | +60.9% | 3.0 yr |
| QQQInvesco QQQ Trust, Serie | $48M | 2.3% | — | 3.0 yr |
| VTVVanguard Value ETF | $37M | 1.8% | — | 3.0 yr |
| MSFTMicrosoft Corporation | $36M | 1.7% | -0.6% | 3.0 yr |
| AMZNAmazon.com, Inc. | $33M | 1.5% | +9.5% | 3.0 yr |
| VOOVanguard S&P 500 ETF | $29M | 1.4% | — | 3.0 yr |
| SPLGSPDR Portfolio S&P 500 E | $27M | 1.3% | — | 2.5 yr |
| AVGOBroadcom Inc. | $24M | 1.2% | +86.0% | 3.0 yr |
| SCHGSchwab U.S. Large-Cap Gr | $24M | 1.2% | — | 2.5 yr |
| SPDWState Street SPDR Portfo | $24M | 1.1% | — | 2.3 yr |
| VTIVanguard Total Stock Mar | $21M | 1.0% | — | 3.0 yr |
| GOOGLAlphabet Inc. | $21M | 1.0% | — | 3.0 yr |
| VIGVanguard Dividend Apprec | $21M | 1.0% | — | 3.0 yr |
Portfolio composition (YoY)
Industry mix
Asset Management48.7%+6.2pp$1.03B
Semiconductors5.7%+0.3pp$120M
Consumer Electronics3.7%-0.6pp$79M
Software - Infrastructure2.8%-0.2pp$59M
Internet Content & Information2.6%-0.1pp$55M
Asset Management - Income2.3%+0.4pp$49M
Specialty Retail1.9%-0.2pp$40M
Asset Management - Bonds1.8%+0.1pp$38M
Drug Manufacturers - General1.8%+0.0pp$37M
Aerospace & Defense1.5%-0.3pp$31M
Country
US96.9%-0.2pp
IE0.9%-0.0pp
Unknown0.5%+0.2pp
CA0.4%-0.0pp
GB0.3%+0.1pp
TW0.3%+0.1pp
CH0.2%+0.1pp
SG0.1%+0.1pp
Top 5: 12.8% · Top 10: 19.9% · Top 25: 32.5%
Top buys this quarter · 15
| TPL Texas Pacific Land Corporation | +$8M |
| PLTR Palantir Technologies Inc. | +$4M |
| LB LandBridge Company LLC | +$4M |
| SNDK Sandisk Corporationnew | +$3M |
| BE Bloom Energy Corporationnew | +$3M |
| COST Costco Wholesale Corporation | +$2M |
| AR Antero Resources Corporationnew | +$1M |
| MSFT Microsoft Corporation | +$36M |
| WDC Western Digital Corporation | +$1M |
| AZN AstraZeneca PLCnew | +$1M |
Top sells this quarter · 15
| SPY State Street SPDR S&P 500 ETF | −$3M |
| NVDA NVIDIA Corporation | −$2M |
| GM General Motors Company | −$2M |
| DELL Dell Technologies Inc. | −$2M |
| AMD Advanced Micro Devices, Inc. | −$1M |
| TER Teradyne, Inc.exit | −$1M |
| MDT Medtronic plc | −$1M |
| BLK BlackRock, Inc. | −$1M |
| GEHC GE HealthCare Technologies Inc | −$1M |
| AAPL Apple Inc. | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $2.11B | 924 | +23.72% | +17.59% | +6.13% | +0.06B |
| 2025-12-31 | $2.07B | 868 | +18.72% | +17.72% | +1.01% | +0.39B |
| 2025-09-30 | $1.65B | 790 | +20.11% | +17.52% | +2.60% | +0.27B |
| 2025-06-30 | $1.27B | 743 | +17.06% | +14.94% | +2.11% | +0.01B |
| 2025-03-31 | $1.11B | 769 | +6.66% | +8.30% | -1.65% | -0.16B |
| 2024-12-31 | $1.33B | 791 | +20.01% | +24.89% | -4.87% | -0.11B |
| 2024-09-30 | $1.40B | 663 | +31.56% | +36.04% | -4.48% | +0.22B |
| 2024-06-30 | $1.11B | 653 | +17.82% | +24.49% | -6.67% | +0.21B |
| 2024-03-31 | $867M | 617 | +6.90% | +10.39% | -3.49% | -0.07B |
| 2023-12-31 | $879M | 633 | +12.36% | +11.64% | +0.72% | +0.27B |
| 2023-09-30 | $540M | 405 | -5.00% | -3.22% | -1.78% | +0.25B |
| 2023-06-30 | $310M | 265 | — | — | — | — |