Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-7.19%
trims when stocks drop
when a holding falls −10%+
Middle response
-1.88%
baseline attrition
Rally response
-5.19%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| ITOTiShares Core S&P Total U | $27M | 18.6% | — | 2.5 yr |
| IXUSiShares Core MSCI Total | $20M | 13.4% | — | 2.5 yr |
| VTIVanguard Total Stock Mar | $17M | 11.7% | — | 2.5 yr |
| VXUSVanguard Total Internati | $10M | 7.0% | — | 2.5 yr |
| XLKState Street Technology | $9M | 6.5% | — | 2.5 yr |
| VXFVanguard Extended Market | $5M | 3.6% | — | 2.5 yr |
| VGTVanguard Information Tec | $4M | 2.9% | — | 2.5 yr |
| XLFState Street Financial S | $3M | 2.1% | — | 2.5 yr |
| XLIState Street Industrial | $3M | 2.1% | — | 2.5 yr |
| XLYState Street Consumer Di | $3M | 2.0% | — | 2.5 yr |
| XLVState Street Health Care | $3M | 2.0% | — | 2.5 yr |
| VFHVanguard Financials ETF | $2M | 1.5% | — | 2.5 yr |
| VOXVanguard Communication S | $2M | 1.4% | — | 2.5 yr |
| VOOVanguard S&P 500 ETF | $2M | 1.4% | — | 2.0 yr |
| VHTVanguard Health Care ETF | $2M | 1.3% | — | 2.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management93.2%-1.2pp$137M
Asset Management - Bonds1.5%-0.4pp$2M
Auto - Manufacturers0.7%+0.3pp$1M
Internet Content & Information0.5%+0.1pp$1M
Software - Infrastructure0.5%-0.1pp$1M
Consumer Electronics0.4%-0.1pp$1M
Banks - Diversified0.4%+0.1pp$1M
Financial - Credit Services0.4%+0.0pp$1M
Aerospace & Defense0.3%+0.2pp$0M
Insurance - Diversified0.3%-0.1pp$0M
Country
US99.8%-0.2pp
TW0.2%
Top 5: 57.2% · Top 10: 70.0% · Top 25: 87.4%
Top buys this quarter · 15
| CVX Chevron Corporationnew | +$0M |
| JNJ Johnson & Johnsonnew | +$0M |
| BAC Bank of America Corporationnew | +$0M |
| GE GE Aerospace | +$0M |
| DJP iPath Bloomberg Commodity Inde | +$0M |
| ITOT iShares Core S&P Total U.S. St | +$27M |
| IXUS iShares Core MSCI Total Intern | +$0M |
| XLB State Street Materials Select | +$0M |
| XLY State Street Consumer Discreti | +$3M |
| XLF State Street Financial Select | +$3M |
Top sells this quarter · 15
| SPY State Street SPDR S&P 500 ETF | −$0M |
| TRGP Targa Resources Corp. | −$0M |
| RTX RTX Corporation | −$0M |
| GS The Goldman Sachs Group, Inc. | −$0M |
| GOOG Alphabet Inc. | −$0M |
| AAPL Apple Inc. | −$0M |
| JPM JPMorgan Chase & Co. | −$0M |
| COF Capital One Financial Corporat | −$0M |
| BOTJ Bank of the James Financial Gr | −$0M |
| VZ Verizon Communications Inc. | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $147M | 67 | +24.37% | +17.59% | +6.78% | +0.00B |
| 2025-12-31 | $150M | 65 | +25.26% | +17.72% | +7.54% | -0.00B |
| 2025-09-30 | $149M | 66 | +28.20% | +17.52% | +10.69% | -0.01B |
| 2025-06-30 | $140M | 65 | +18.37% | +14.94% | +3.43% | -0.00B |
| 2025-03-31 | $125M | 57 | +12.43% | +8.30% | +4.12% | +0.00B |
| 2024-12-31 | $131M | 59 | +31.59% | +24.89% | +6.70% | -0.01B |
| 2024-09-30 | $130M | 55 | +4.23% | +5.75% | -1.53% | -0.00B |
| 2024-06-30 | $126M | 59 | +6.95% | +4.38% | +2.57% | +0.00B |
| 2024-03-31 | $113M | 46 | +11.22% | +10.39% | +0.83% | -0.00B |
| 2023-12-31 | $104M | 48 | — | — | — | — |