Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-9.60%
trims when stocks drop
when a holding falls −10%+
Middle response
+0.32%
steady accumulation
Rally response
+1.67%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| AAPLApple Inc. | $36M | 7.6% | +14.7% | 2.8 yr |
| BRK-BBerkshire Hathaway Inc. | $30M | 6.4% | — | 2.8 yr |
| SPSMState Street SPDR Portfo | $30M | 6.3% | — | 1.0 yr |
| GLDMSPDR Gold MiniShares Tru | $26M | 5.4% | — | 2.8 yr |
| RSPInvesco S&P 500 Equal We | $23M | 4.8% | — | 2.8 yr |
| IJHiShares Core S&P Mid-Cap | $23M | 4.8% | — | 2.8 yr |
| MSFTMicrosoft Corporation | $21M | 4.5% | -0.6% | 2.8 yr |
| FENIFidelity Enhanced Intern | $17M | 3.5% | — | 1.5 yr |
| TACKFairlead Tactical Sector | $17M | 3.5% | — | 0.8 yr |
| IVViShares Core S&P 500 ETF | $15M | 3.2% | — | 2.8 yr |
| DYNFiShares U.S. Equity Fact | $12M | 2.6% | — | 0.8 yr |
| CGIECapital Group Internatio | $12M | 2.5% | — | 1.5 yr |
| IEFAiShares Core MSCI EAFE E | $11M | 2.2% | — | 2.8 yr |
| VOOVanguard S&P 500 ETF | $10M | 2.2% | — | 2.8 yr |
| DXJWisdomTree Japan Hedged | $10M | 2.1% | — | 2.8 yr |
Portfolio composition (YoY)
Industry mix
Asset Management61.0%-3.6pp$291M
Consumer Electronics7.6%+4.6pp$36M
Insurance - Diversified6.4%+5.6pp$30M
Software - Infrastructure4.5%+2.9pp$21M
Internet Content & Information2.1%+0.3pp$10M
Semiconductors2.1%-1.9pp$10M
Drug Manufacturers - General2.0%-1.0pp$10M
Discount Stores1.0%+0.1pp$5M
Financial - Capital Markets1.0%+0.3pp$5M
Asset Management - Bonds0.7%-0.0pp$3M
Country
US99.0%+0.6pp
IE0.4%-0.5pp
GB0.2%-0.1pp
IL0.2%-0.0pp
CH0.1%-0.0pp
TW0.1%
Unknown0.1%
Top 5: 30.5% · Top 10: 49.9% · Top 25: 72.8%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| CAT | $1M | +0.00B | 117.8% |
| GOOG | $2M | +0.00B | 84.3% |
| AAPL | $8M | +0.00B | 14.7% |
| GS | $2M | +0.00B | 58.1% |
| SPY | $4M | +0.00B | 17.6% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| MSFT | $5M | -0.00B | -0.6% |
Top buys this quarter · 15
| XPEL XPEL, Inc.new | +$1M |
| RPID Rapid Micro Biosystems, Inc. | +$1M |
| RDVT Red Violet, Inc. | +$0M |
| AON Aon plc | +$0M |
| BODI The Beachbody Company, Inc.new | +$0M |
| SPG Simon Property Group, Inc.new | +$0M |
| LNSR LENSAR, Inc. | +$0M |
| HGBL Heritage Global Inc.new | +$0M |
| LLY Eli Lilly and Company | +$4M |
| INVE Identiv, Inc.new | +$0M |
Top sells this quarter · 15
| KINS Kingstone Companies, Inc. | −$1M |
| BOSC B.O.S. Better Online Solutions | −$1M |
| NVDA NVIDIA Corporation | −$1M |
| META Meta Platforms, Inc. | −$0M |
| CURI CuriosityStream Inc. | −$0M |
| MSFT Microsoft Corporation | −$21M |
| CPSH CPS Technologies Corporation | −$0M |
| EWCZ European Wax Center, Inc.exit | −$0M |
| ELWT Elauwit Connection, Inc. Commoexit | −$0M |
| NKE NIKE, Inc.exit | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $477M | 176 | +12.91% | +17.59% | -4.68% | +0.03B |
| 2025-12-31 | $474M | 183 | +14.12% | +17.72% | -3.60% | +0.10B |
| 2025-09-30 | $354M | 187 | +12.28% | +17.52% | -5.24% | +0.03B |
| 2025-06-30 | $307M | 170 | +10.47% | +14.94% | -4.47% | +0.01B |
| 2025-03-31 | $279M | 148 | +6.33% | +8.30% | -1.97% | -0.09B |
| 2024-12-31 | $386M | 163 | +20.79% | +24.89% | -4.09% | +0.00B |
| 2024-09-30 | $371M | 162 | +24.43% | +36.04% | -11.60% | +0.14B |
| 2024-06-30 | $223M | 128 | +3.59% | +4.38% | -0.79% | +0.00B |
| 2024-03-31 | $211M | 125 | +7.63% | +10.39% | -2.76% | -0.00B |
| 2023-12-31 | $197M | 122 | +5.73% | +11.64% | -5.91% | -0.00B |
| 2021-12-31 | $190M | 113 | — | — | — | — |