Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-2.30%
trims when stocks drop
when a holding falls −10%+
Middle response
-0.30%
baseline attrition
Rally response
-2.31%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| SPYState Street SPDR S&P 50 | $44M | 6.7% | +17.6% | 2.5 yr |
| AAPLApple Inc. | $33M | 5.1% | +14.7% | 2.5 yr |
| PEPPepsiCo, Inc. | $30M | 4.7% | +7.7% | 2.5 yr |
| XOMExxon Mobil Corporation | $28M | 4.3% | +47.6% | 2.5 yr |
| FMDEFidelity Enhanced Mid Ca | $19M | 3.0% | — | 0.3 yr |
| QQQInvesco QQQ Trust, Serie | $15M | 2.3% | — | 2.5 yr |
| PTLCPacer Trendpilot US Larg | $15M | 2.3% | — | 2.5 yr |
| NVDANVIDIA Corporation | $15M | 2.3% | +60.9% | 2.5 yr |
| MSFTMicrosoft Corporation | $13M | 2.0% | -0.6% | 2.5 yr |
| MUBiShares National Muni Bo | $12M | 1.9% | — | 2.5 yr |
| AMZNAmazon.com, Inc. | $12M | 1.9% | +9.5% | 2.5 yr |
| WMTWalmart Inc. | $12M | 1.8% | +42.8% | 2.5 yr |
| IVViShares Core S&P 500 ETF | $10M | 1.6% | — | 2.5 yr |
| VYMVanguard High Dividend Y | $9M | 1.4% | — | 1.0 yr |
| TSLATesla, Inc. | $9M | 1.4% | +43.4% | 2.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management39.8%+7.9pp$258M
Oil & Gas Integrated5.5%-0.0pp$36M
Beverages - Non-Alcoholic5.2%-2.0pp$34M
Consumer Electronics5.1%-1.0pp$33M
Semiconductors3.9%+1.0pp$25M
Discount Stores2.9%-0.1pp$19M
Software - Infrastructure2.5%-0.9pp$16M
Drug Manufacturers - General2.4%-0.7pp$16M
Specialty Retail2.2%-0.2pp$15M
Asset Management - Income2.2%-0.6pp$14M
Country
US98.0%-1.0pp
Unknown1.0%+0.9pp
IE0.2%-0.0pp
GB0.2%-0.1pp
CH0.2%-0.0pp
BM0.1%+0.0pp
TW0.1%+0.0pp
RU0.1%
Top 5: 23.9% · Top 10: 34.6% · Top 25: 52.3%
Top buys this quarter · 15
| SPY State Street SPDR S&P 500 ETF | +$44M |
| GS The Goldman Sachs Group, Inc. | +$1M |
| WDAY Workday, Inc.new | +$1M |
| ECL Ecolab Inc. | +$0M |
| NVDA NVIDIA Corporation | +$15M |
| TSLA Tesla, Inc. | +$9M |
| SATS EchoStar Corporationnew | +$0M |
| LHX L3Harris Technologies, Inc. | +$0M |
| VRSK Verisk Analytics, Inc. | +$0M |
| AMD Advanced Micro Devices, Inc. | +$0M |
Top sells this quarter · 15
| SCCO Southern Copper Corporationexit | −$4M |
| AMGN Amgen Inc. | −$1M |
| C Citigroup Inc. | −$1M |
| IBM International Business Machine | −$0M |
| PANW Palo Alto Networks, Inc. | −$0M |
| MRK Merck & Co., Inc. | −$0M |
| MSFT Microsoft Corporation | −$0M |
| BMNR Bitmine Immersion Technologiesexit | −$0M |
| ITW Illinois Tool Works Inc. | −$0M |
| RCAT Red Cat Holdings, Inc.exit | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $648M | 347 | +17.72% | +17.59% | +0.13% | +0.01B |
| 2025-12-31 | $630M | 336 | +14.78% | +17.72% | -2.94% | +0.04B |
| 2025-09-30 | $570M | 316 | +12.87% | +17.52% | -4.65% | +0.03B |
| 2025-06-30 | $498M | 303 | +11.48% | +14.94% | -3.46% | +0.02B |
| 2025-03-31 | $462M | 297 | +9.02% | +8.30% | +0.72% | -0.01B |
| 2024-12-31 | $473M | 301 | +17.53% | +24.89% | -7.36% | +0.03B |
| 2024-09-30 | $442M | 288 | +6.91% | +5.75% | +1.16% | +0.00B |
| 2024-06-30 | $411M | 276 | +2.17% | +4.38% | -2.20% | -0.01B |
| 2024-03-31 | $409M | 281 | +6.43% | +10.39% | -3.96% | -0.03B |
| 2023-12-31 | $415M | 286 | — | — | — | — |