Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-0.93%
trims when stocks drop
when a holding falls −10%+
Middle response
-2.73%
baseline attrition
Rally response
+0.20%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| SSRMSSR Mining Inc. | $30M | 12.4% | +193.1% | 2.5 yr |
| VTIVanguard Total Stock Mar | $22M | 9.2% | — | 2.5 yr |
| VXUSVanguard Total Internati | $18M | 7.5% | — | 2.5 yr |
| IXUSiShares Core MSCI Total | $12M | 5.1% | — | 2.5 yr |
| AVUVAvantis U.S. Small Cap V | $12M | 4.7% | — | 2.5 yr |
| MUBiShares National Muni Bo | $11M | 4.4% | — | 2.5 yr |
| AVDVAvantis International Sm | $9M | 3.8% | — | 2.5 yr |
| BNDVanguard Total Bond Mark | $9M | 3.7% | — | 2.5 yr |
| VNQVanguard Real Estate ETF | $7M | 3.0% | — | 2.5 yr |
| BIVVanguard Intermediate-Te | $7M | 2.7% | — | 2.5 yr |
| SCHHSchwab U.S. REIT ETF | $6M | 2.3% | — | 2.5 yr |
| VTEBVanguard Tax-Exempt Bond | $5M | 2.0% | — | 2.5 yr |
| AVEMAvantis Emerging Markets | $4M | 1.8% | — | 2.5 yr |
| SCHPSchwab U.S. TIPS ETF | $4M | 1.7% | — | 2.5 yr |
| VOOVanguard S&P 500 ETF | $4M | 1.6% | — | 2.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management63.2%-3.2pp$153M
Gold12.5%+7.0pp$30M
Asset Management - Bonds9.3%-0.1pp$22M
Specialty Retail1.5%-0.5pp$4M
Consumer Electronics1.4%-0.3pp$3M
Semiconductors1.3%+0.4pp$3M
Software - Infrastructure1.2%-0.6pp$3M
Internet Content & Information1.2%-0.6pp$3M
Insurance - Diversified0.7%+0.1pp$2M
Software - Application0.6%-0.5pp$1M
Country
US97.4%+0.4pp
CA0.6%+0.1pp
KR0.2%-0.0pp
TW0.2%+0.1pp
GB0.2%-0.0pp
CN0.2%-0.2pp
IL0.1%-0.0pp
BM0.1%-0.0pp
Top 5: 39.0% · Top 10: 56.6% · Top 25: 78.0%
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| MSFT | $2M | -0.00B | -0.6% |
Top buys this quarter · 15
| FITB Fifth Third Bancorpnew | +$0M |
| AIG American International Group, new | +$0M |
| SNAP Snap Inc. | +$1M |
| DOCU DocuSign, Inc. | +$0M |
| PD PagerDuty, Inc.new | +$0M |
| ALL The Allstate Corporation | +$0M |
| BE Bloom Energy Corporationnew | +$0M |
| CSGP CoStar Group, Inc.new | +$0M |
| BOX Box, Inc. | +$0M |
| VICI VICI Properties Inc. | +$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $243M | 975 | +57.56% | +17.59% | +39.97% | -0.02B |
| 2025-12-31 | $244M | 1019 | +48.79% | +17.72% | +31.07% | +0.03B |
| 2025-09-30 | $217M | 971 | +61.77% | +17.52% | +44.26% | -0.02B |
| 2025-06-30 | $178M | 944 | +30.10% | +14.94% | +15.15% | -0.01B |
| 2025-03-31 | $161M | 912 | +18.42% | +8.30% | +10.12% | +0.00B |
| 2024-12-31 | $156M | 873 | +1.64% | +24.89% | -23.25% | -0.01B |
| 2024-09-30 | $152M | 880 | +4.85% | +5.75% | -0.91% | +0.01B |
| 2024-06-30 | $140M | 919 | +4.84% | +4.38% | +0.46% | -0.00B |
| 2024-03-31 | $135M | 851 | -12.92% | +10.39% | -23.31% | +0.02B |
| 2023-12-31 | $128M | 876 | — | — | — | — |