Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-2.64%
trims when stocks drop
when a holding falls −10%+
Middle response
-0.72%
baseline attrition
Rally response
-6.69%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| IEMGiShares Core MSCI Emergi | $126M | 7.4% | — | 2.8 yr |
| AAPLApple Inc. | $105M | 6.2% | +14.7% | 2.8 yr |
| IEFAiShares Core MSCI EAFE E | $86M | 5.0% | — | 2.8 yr |
| NVDANVIDIA Corporation | $79M | 4.6% | +60.9% | 2.5 yr |
| SPYState Street SPDR S&P 50 | $77M | 4.5% | +17.6% | 2.8 yr |
| MSFTMicrosoft Corporation | $45M | 2.6% | -0.6% | 2.8 yr |
| TSMTaiwan Semiconductor Man | $39M | 2.3% | +105.6% | 2.8 yr |
| LQDiShares iBoxx $ Investme | $32M | 1.9% | — | 2.8 yr |
| QQQInvesco QQQ Trust, Serie | $31M | 1.8% | — | 2.8 yr |
| AMZNAmazon.com, Inc. | $30M | 1.7% | +9.5% | 1.8 yr |
| GOOGAlphabet Inc. | $29M | 1.7% | +84.3% | 1.0 yr |
| BNDVanguard Total Bond Mark | $28M | 1.6% | — | 2.0 yr |
| XOMExxon Mobil Corporation | $25M | 1.5% | +47.6% | 2.0 yr |
| GOOGLAlphabet Inc. | $25M | 1.4% | — | 2.8 yr |
| AVGOBroadcom Inc. | $24M | 1.4% | +86.0% | 1.3 yr |
Portfolio composition (YoY)
Industry mix
Asset Management30.0%-10.8pp$511M
Semiconductors10.3%+6.4pp$176M
Consumer Electronics6.2%+4.6pp$105M
Asset Management - Bonds4.8%-0.7pp$82M
Internet Content & Information4.6%+4.1pp$78M
Drug Manufacturers - General3.8%+2.5pp$65M
Software - Infrastructure3.2%+0.7pp$55M
Banks - Diversified2.5%+0.3pp$43M
Financial - Credit Services2.4%+0.8pp$41M
Oil & Gas Integrated2.3%+1.8pp$40M
Country
US94.9%+7.9pp
TW2.3%+0.3pp
IE0.8%-5.5pp
Unknown0.7%-1.0pp
SG0.4%
LU0.3%
CA0.3%+0.1pp
UY0.2%
Top 5: 27.7% · Top 10: 38.1% · Top 25: 56.2%
Top buys this quarter · 15
| AAPL Apple Inc. | +$47M |
| NVDA NVIDIA Corporation | +$41M |
| GOOG Alphabet Inc. | +$25M |
| META Meta Platforms, Inc. | +$16M |
| AVGO Broadcom Inc. | +$16M |
| JPM JPMorgan Chase & Co. | +$14M |
| AMZN Amazon.com, Inc. | +$12M |
| CVX Chevron Corporation | +$11M |
| RTX RTX Corporationnew | +$11M |
| DE Deere & Companynew | +$11M |
Top sells this quarter · 15
| TSM Taiwan Semiconductor Manufactu | −$43M |
| AON Aon plcexit | −$21M |
| TRU TransUnionexit | −$20M |
| BDX Becton, Dickinson and Company | −$19M |
| SCHW The Charles Schwab Corporation | −$19M |
| ACN Accenture plc | −$14M |
| MDT Medtronic plcexit | −$12M |
| A Agilent Technologies, Inc.exit | −$11M |
| SPY State Street SPDR S&P 500 ETF | −$11M |
| HUBB Hubbell Incorporatedexit | −$11M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.71B | 342 | +15.36% | +17.59% | -2.23% | -0.01B |
| 2025-12-31 | $1.76B | 321 | +15.35% | +17.72% | -2.37% | -0.03B |
| 2025-09-30 | $1.73B | 362 | +10.69% | +17.52% | -6.83% | -0.02B |
| 2025-06-30 | $1.65B | 378 | +11.10% | +14.94% | -3.84% | -0.01B |
| 2025-03-31 | $1.55B | 173 | +2.93% | +8.30% | -5.38% | +0.15B |
| 2024-12-31 | $1.43B | 167 | +14.96% | +24.89% | -9.92% | -0.02B |
| 2024-09-30 | $1.46B | 163 | +30.48% | +36.04% | -5.56% | +0.10B |
| 2024-06-30 | $1.28B | 144 | -0.26% | +4.38% | -4.64% | +0.04B |
| 2024-03-31 | $1.24B | 141 | +8.92% | +10.39% | -1.47% | -0.00B |
| 2023-12-31 | $1.14B | 137 | +12.58% | +11.64% | +0.94% | -0.03B |
| 2023-09-30 | $1.04B | 133 | — | — | — | — |