Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+0.41%
adds when stocks drop
when a holding falls −10%+
Middle response
+2.77%
steady accumulation
Rally response
+1.65%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| FNDFSchwab Fundamental Inter | $27M | 9.2% | — | 3.0 yr |
| SCHGSchwab U.S. Large-Cap Gr | $25M | 8.4% | — | 3.0 yr |
| SCHVSchwab U.S. Large-Cap Va | $21M | 7.1% | — | 3.0 yr |
| SPLGSPDR Portfolio S&P 500 E | $21M | 7.1% | — | 2.3 yr |
| QUALiShares MSCI USA Quality | $17M | 5.9% | — | 2.8 yr |
| VCRBVanguard Core Bond ETF | $17M | 5.9% | — | 1.5 yr |
| VUGVanguard Growth ETF | $16M | 5.5% | — | 3.0 yr |
| VTVVanguard Value ETF | $12M | 3.9% | — | 3.0 yr |
| VIGIVanguard International D | $11M | 3.6% | — | 2.8 yr |
| IEMGiShares Core MSCI Emergi | $9M | 3.0% | — | 1.0 yr |
| SPYState Street SPDR S&P 50 | $8M | 2.8% | +17.6% | 3.0 yr |
| DYNFiShares U.S. Equity Fact | $8M | 2.7% | — | 0.5 yr |
| BAIiShares A.I. Innovation | $8M | 2.7% | — | 1.0 yr |
| IJRiShares Core S&P Small-C | $8M | 2.7% | — | 3.0 yr |
| USMViShares MSCI USA Min Vol | $7M | 2.4% | — | 3.0 yr |
Portfolio composition (YoY)
Industry mix
Asset Management90.2%+1.1pp$265M
Semiconductors2.3%+0.2pp$7M
Asset Management - Income1.6%+0.7pp$5M
Consumer Electronics1.4%+0.6pp$4M
Internet Content & Information0.6%+0.1pp$2M
Insurance - Diversified0.5%-0.3pp$1M
Specialty Retail0.4%+0.0pp$1M
Asset Management - Bonds0.4%-2.8pp$1M
Banks - Regional0.3%-0.1pp$1M
Software - Infrastructure0.3%-0.1pp$1M
Country
US100.0%+0.0pp
Top 5: 37.7% · Top 10: 59.6% · Top 25: 86.6%
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Top buys this quarter · 15
| SPY State Street SPDR S&P 500 ETF | +$1M |
| USAC USA Compression Partners, LPnew | +$0M |
| AMZN Amazon.com, Inc. | +$0M |
| FMNB Farmers National Banc Corp.new | +$0M |
| KMI Kinder Morgan, Inc.new | +$0M |
| XOM Exxon Mobil Corporationnew | +$0M |
| EPD Enterprise Products Partners Lnew | +$0M |
| NVDA NVIDIA Corporation | +$6M |
| MSFT Microsoft Corporation | +$1M |
| AVGO Broadcom Inc. | +$1M |
Top sells this quarter · 15
| MA Mastercard Incorporatedexit | −$0M |
| UPST Upstart Holdings, Inc.exit | −$0M |
| SF Stifel Financial Corp.exit | −$0M |
| AAPL Apple Inc. | −$0M |
| ABBV AbbVie Inc. | −$0M |
| JPM JPMorgan Chase & Co. | −$0M |
| XLG Invesco S&P 500 Top 50 ETF | −$0M |
| IYW iShares U.S. Technology ETF | −$0M |
| USMV iShares MSCI USA Min Vol Facto | −$0M |
| MEAR iShares Short Maturity Municip | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $294M | 81 | +27.38% | +17.59% | +9.79% | +0.02B |
| 2025-12-31 | $288M | 78 | +24.77% | +17.72% | +7.05% | +0.01B |
| 2025-09-30 | $271M | 78 | +27.73% | +17.52% | +10.21% | -0.00B |
| 2025-06-30 | $247M | 76 | +19.60% | +14.94% | +4.66% | -0.01B |
| 2025-03-31 | $217M | 70 | +9.16% | +8.30% | +0.86% | +0.02B |
| 2024-12-31 | $212M | 69 | +23.26% | +24.89% | -1.63% | -0.00B |
| 2024-09-30 | $205M | 71 | +40.71% | +36.04% | +4.67% | +0.02B |
| 2024-06-30 | $182M | 64 | +10.60% | +38.36% | -27.76% | +0.00B |
| 2024-03-31 | $166M | 64 | +5.81% | +10.39% | -4.58% | +0.02B |
| 2023-12-31 | $138M | 56 | +19.98% | +11.64% | +8.34% | +0.01B |
| 2022-12-31 | $110M | 47 | -18.17% | +7.56% | -25.74% | +0.02B |
| 2021-12-31 | $109M | 50 | — | — | — | — |