Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-6.24%
trims when stocks drop
when a holding falls −10%+
Middle response
+1.55%
steady accumulation
Rally response
-2.26%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| IBITiShares Bitcoin Trust ET | $67M | 28.1% | — | 1.0 yr |
| QQQInvesco QQQ Trust, Serie | $35M | 14.9% | — | 1.3 yr |
| SPYState Street SPDR S&P 50 | $23M | 9.5% | +12.6% | 1.3 yr |
| VOOVanguard S&P 500 ETF | $17M | 7.3% | — | 1.3 yr |
| IBKRInteractive Brokers Grou | $9M | 3.9% | +52.8% | 1.3 yr |
| MINTPIMCO Enhanced Short Mat | $9M | 3.8% | — | 0.8 yr |
| BRK-BBerkshire Hathaway Inc. | $6M | 2.7% | — | 1.3 yr |
| GOOGAlphabet Inc. | $6M | 2.6% | +51.3% | 1.3 yr |
| MSFTMicrosoft Corporation | $6M | 2.5% | -11.3% | 1.3 yr |
| SGOViShares 0-3 Month Treasu | $5M | 2.1% | — | 0.8 yr |
| AAPLApple Inc. | $4M | 1.6% | +1.9% | 1.3 yr |
| IAUiShares Gold Trust | $4M | 1.5% | — | 0.8 yr |
| NVDANVIDIA Corporation | $3M | 1.1% | +29.9% | 1.3 yr |
| AMZNAmazon.com, Inc. | $3M | 1.1% | -5.1% | 1.3 yr |
| BILState Street SPDR Bloomb | $2M | 0.9% | — | 0.8 yr |
Portfolio composition (YoY)
Industry mix
Asset Management66.0%+30.1pp$156M
Investment - Banking & Investment Services3.9%+0.1pp$9M
Asset Management - Leveraged3.8%$9M
Internet Content & Information3.3%-1.2pp$8M
Asset Management - Bonds2.9%-1.4pp$7M
Software - Infrastructure2.8%-4.1pp$7M
Insurance - Diversified2.7%-2.1pp$6M
Semiconductors2.2%-0.6pp$5M
Specialty Retail1.6%-4.9pp$4M
Consumer Electronics1.6%-0.5pp$4M
Country
US98.1%+0.9pp
KR0.6%
BR0.4%
GG0.4%-1.0pp
KY0.3%
Unknown0.1%+0.0pp
CA0.1%-0.1pp
GB0.1%-0.0pp
Top 5: 63.7% · Top 10: 77.4% · Top 25: 90.0%
Top buys this quarter · 15
| MSFT Microsoft Corporation | +$2M |
| LITE Lumentum Holdings Inc. | +$1M |
| CPNG Coupang, Inc.new | +$1M |
| SNDK Sandisk Corporationnew | +$1M |
| AAPL Apple Inc. | +$1M |
| AVGO Broadcom Inc. | +$1M |
| USAR USA Rare Earth Inc | +$1M |
| AMKR Amkor Technology, Inc.new | +$1M |
| WMT Walmart Inc.new | +$1M |
| FN Fabrinetnew | +$1M |
Top sells this quarter · 15
| MSTR Strategy Incexit | −$9M |
| CRCL Circle Internet Groupexit | −$5M |
| SPY State Street SPDR S&P 500 ETF | −$2M |
| NVDA NVIDIA Corporation | −$2M |
| GOOG Alphabet Inc. | −$1M |
| LTBR Lightbridge Corporation | −$1M |
| MKL Markel Corporation | −$1M |
| ADBE Adobe Inc.exit | −$0M |
| FDS FactSet Research Systems Inc. | −$0M |
| LHX L3Harris Technologies, Inc. | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $237M | 116 | +14.74% | +1.62% | +13.11% | +0.04B |
| 2025-12-31 | $208M | 111 | -0.27% | +2.66% | -2.94% | -0.02B |
| 2025-09-30 | $225M | 155 | +38.88% | +8.12% | +30.76% | +0.08B |
| 2025-03-31 | $105M | 129 | -12.07% | -4.27% | -7.80% | +0.00B |
| 2024-12-31 | $115M | 139 | — | — | — | — |