Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-2.32%
trims when stocks drop
when a holding falls −10%+
Middle response
-1.19%
baseline attrition
Rally response
+4.74%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| VIGVanguard Dividend Apprec | $22M | 12.4% | — | 1.5 yr |
| PWRQuanta Services, Inc. | $19M | 10.9% | +116.2% | 1.0 yr |
| IEFAiShares Core MSCI EAFE E | $14M | 8.1% | — | 1.5 yr |
| VBRVanguard Small-Cap Value | $13M | 7.5% | — | 1.5 yr |
| IEMGiShares Core MSCI Emergi | $12M | 7.0% | — | 1.5 yr |
| VYMVanguard High Dividend Y | $6M | 3.5% | — | 1.5 yr |
| VEAVanguard FTSE Developed | $6M | 3.4% | — | 1.5 yr |
| QUALiShares MSCI USA Quality | $6M | 3.2% | — | 1.5 yr |
| IJHiShares Core S&P Mid-Cap | $5M | 2.9% | — | 1.5 yr |
| IVViShares Core S&P 500 ETF | $4M | 2.4% | — | 1.5 yr |
| AVUVAvantis U.S. Small Cap V | $4M | 2.4% | — | 1.5 yr |
| VWOVanguard FTSE Emerging M | $4M | 2.2% | — | 1.5 yr |
| VOVanguard Mid-Cap ETF | $3M | 1.8% | — | 1.5 yr |
| IWDiShares Russell 1000 Val | $3M | 1.6% | — | 1.5 yr |
| IAUiShares Gold Trust | $3M | 1.6% | — | 1.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management71.8%-10.2pp$126M
Engineering & Construction10.9%+9.9pp$19M
Banks - Regional3.1%$5M
Banks - Diversified1.6%+0.8pp$3M
Drug Manufacturers - General1.5%+0.1pp$3M
Consumer Electronics1.2%-0.7pp$2M
Semiconductors0.8%+0.2pp$1M
Aerospace & Defense0.8%-0.1pp$1M
Communication Equipment0.7%-0.3pp$1M
Software - Infrastructure0.7%-0.4pp$1M
Country
US98.8%-0.5pp
Unknown0.7%
CH0.2%-0.0pp
NL0.2%
GB0.1%-0.1pp
Top 5: 45.8% · Top 10: 61.2% · Top 25: 80.7%
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| MSFT | $1M | -0.00B | -0.6% |
Top buys this quarter · 15
| C Citigroup Inc.new | +$2M |
| ZION Zions Bancorporation, Nationalnew | +$1M |
| HTB HomeTrust Bancshares, Inc.new | +$1M |
| AFBI Affinity Bancshares, Inc.new | +$1M |
| BBT Beacon Financial Corp.new | +$1M |
| PBFS Pioneer Bancorp, Inc.new | +$1M |
| UMBF UMB Financial Corporationnew | +$0M |
| NBBK NB Bancorp, Inc. Common Stocknew | +$0M |
| PEBK Peoples Bancorp of North Carolnew | +$0M |
| SCHW The Charles Schwab Corporationnew | +$0M |
Top sells this quarter · 15
| PWR Quanta Services, Inc. | −$17M |
| HON Honeywell International Inc.exit | −$0M |
| IBM International Business Machineexit | −$0M |
| LLY Eli Lilly and Companyexit | −$0M |
| ABT Abbott Laboratoriesexit | −$0M |
| PG The Procter & Gamble Company | −$0M |
| PCY Invesco Emerging Markets Sover | −$0M |
| IAU iShares Gold Trust | −$3M |
| ITOT iShares Core S&P Total U.S. St | −$0M |
| DVY iShares Select Dividend ETF | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $175M | 103 | +36.71% | +17.59% | +19.12% | -0.01B |
| 2025-12-31 | $160M | 83 | +19.78% | +17.72% | +2.06% | +0.03B |
| 2025-09-30 | $128M | 80 | +6.25% | +8.12% | -1.87% | -0.00B |
| 2025-06-30 | $125M | 85 | +7.94% | +10.78% | -2.84% | +0.01B |
| 2025-03-31 | $110M | 82 | -0.91% | -4.27% | +3.36% | +0.00B |
| 2024-12-31 | $109M | 82 | — | — | — | — |