Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-18.57%
trims when stocks drop
when a holding falls −10%+
Middle response
-16.59%
baseline attrition
Rally response
-12.43%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| VTVVanguard Value ETF | $25M | 12.9% | — | 2.5 yr |
| VUGVanguard Growth ETF | $25M | 12.7% | — | 2.5 yr |
| SMBCSouthern Missouri Bancor | $18M | 9.2% | +25.0% | 0.5 yr |
| VOEVanguard Mid-Cap Value E | $16M | 8.1% | — | 2.5 yr |
| VOTVanguard Mid-Cap Growth | $14M | 7.0% | — | 2.5 yr |
| VBRVanguard Small-Cap Value | $10M | 5.0% | — | 2.5 yr |
| IJTiShares S&P Small-Cap 60 | $7M | 3.5% | — | 2.5 yr |
| VBKVanguard Small-Cap Growt | $7M | 3.3% | — | 2.5 yr |
| IEFAiShares Core MSCI EAFE E | $6M | 3.2% | — | 2.5 yr |
| IJSiShares S&P Small-Cap 60 | $5M | 2.3% | — | 2.5 yr |
| QQQInvesco QQQ Trust, Serie | $4M | 2.1% | — | 2.0 yr |
| VTIVanguard Total Stock Mar | $4M | 1.8% | — | 2.3 yr |
| VNQVanguard Real Estate ETF | $2M | 1.3% | — | 2.5 yr |
| AAPLApple Inc. | $2M | 1.2% | +14.7% | 2.5 yr |
| EFGiShares MSCI EAFE Growth | $2M | 1.1% | — | 2.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management75.8%-8.8pp$148M
Banks - Regional9.7%$19M
Insurance - Diversified1.6%+0.6pp$3M
Semiconductors1.3%+1.0pp$2M
Consumer Electronics1.2%-1.7pp$2M
Drug Manufacturers - General1.2%+0.3pp$2M
Internet Content & Information0.7%+0.5pp$1M
Financial - Credit Services0.7%+0.6pp$1M
Aerospace & Defense0.6%-0.1pp$1M
Beverages - Non-Alcoholic0.6%+0.3pp$1M
Country
US99.8%+0.2pp
IE0.1%-0.0pp
Unknown0.0%-0.0pp
CH0.0%-0.2pp
NL0.0%
GB0.0%
SG0.0%
CA0.0%
Top 5: 49.9% · Top 10: 67.3% · Top 25: 82.9%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| AAPL | $8M | +0.00B | 14.7% |
| NVDA | $0M | +0.00B | 60.9% |
| BA | $1M | +0.00B | 16.7% |
| ABBV | $1M | +0.00B | 7.3% |
| PEP | $0M | +0.00B | 7.7% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Top buys this quarter · 15
| C Citigroup Inc. | +$0M |
| OTF Blue Owl Technology Finance Conew | +$0M |
| GBDC Golub Capital BDC, Inc.new | +$0M |
| COST Costco Wholesale Corporation | +$0M |
| UPS United Parcel Service, Inc. | +$0M |
| ARCC Ares Capital Corporationnew | +$0M |
| PYPL PayPal Holdings, Inc. | +$0M |
| COIN Coinbase Global, Inc.new | +$0M |
| VZ Verizon Communications Inc. | +$0M |
| CVNA Carvana Co. | +$0M |
Top sells this quarter · 15
| CI Cigna Corporation | −$0M |
| PG The Procter & Gamble Company | −$0M |
| MSFT Microsoft Corporation | −$0M |
| CAT Caterpillar Inc. | −$0M |
| PWR Quanta Services, Inc. | −$0M |
| AAPL Apple Inc. | −$0M |
| UNH UnitedHealth Group Incorporate | −$0M |
| ADV Advantage Solutions Inc.exit | −$0M |
| CSX CSX Corporation | −$0M |
| F-PD Ford Motor Company 6.500% Note | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $195M | 610 | +23.65% | +17.59% | +6.05% | -0.00B |
| 2025-12-31 | $196M | 597 | +20.37% | +17.72% | +2.65% | +0.05B |
| 2025-09-30 | $137M | 278 | +14.80% | +17.52% | -2.71% | +0.04B |
| 2025-06-30 | $84M | 29 | +12.43% | +14.94% | -2.51% | -0.20B |
| 2025-03-31 | $273M | 118 | +15.70% | +8.30% | +7.40% | +0.00B |
| 2024-12-31 | $277M | 120 | +20.61% | +24.89% | -4.28% | +0.01B |
| 2024-09-30 | $267M | 122 | +8.90% | +5.75% | +3.15% | +0.02B |
| 2024-06-30 | $231M | 105 | +6.58% | +4.38% | +2.20% | -0.00B |
| 2024-03-31 | $220M | 105 | +2.25% | +10.39% | -8.14% | +0.06B |
| 2023-12-31 | $161M | 37 | — | — | — | — |