Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-5.95%
trims when stocks drop
when a holding falls −10%+
Middle response
-1.18%
baseline attrition
Rally response
-0.78%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| AAPLApple Inc. | $23M | 7.3% | +14.7% | 1.8 yr |
| CIENCiena Corporation | $22M | 7.2% | +542.4% | 0.3 yr |
| IVViShares Core S&P 500 ETF | $16M | 5.2% | — | 1.8 yr |
| AVDEAvantis International Eq | $9M | 3.0% | — | 0.5 yr |
| NVDANVIDIA Corporation | $8M | 2.5% | +60.9% | 1.8 yr |
| MSFTMicrosoft Corporation | $8M | 2.5% | -0.6% | 1.8 yr |
| SPYState Street SPDR S&P 50 | $8M | 2.4% | +17.6% | 1.8 yr |
| IDXXIDEXX Laboratories, Inc. | $7M | 2.3% | +33.8% | 0.3 yr |
| IWViShares Russell 3000 ETF | $7M | 2.1% | — | 1.8 yr |
| IEFAiShares Core MSCI EAFE E | $6M | 2.0% | — | 1.8 yr |
| DBNDDoubleLine Opportunistic | $6M | 2.0% | — | 1.3 yr |
| MMITNYLI MacKay Muni Interme | $6M | 2.0% | — | 1.3 yr |
| MUNIPIMCO Intermediate Munic | $6M | 1.9% | — | 1.5 yr |
| AVGOBroadcom Inc. | $5M | 1.7% | +86.0% | 1.8 yr |
| IJHiShares Core S&P Mid-Cap | $5M | 1.7% | — | 1.8 yr |
Portfolio composition (YoY)
Industry mix
Asset Management37.1%+5.3pp$116M
Communication Equipment7.4%+7.2pp$23M
Consumer Electronics7.3%-5.9pp$23M
Semiconductors6.6%+1.0pp$21M
Asset Management - Bonds4.3%+2.3pp$13M
Internet Content & Information3.5%+0.1pp$11M
Software - Infrastructure3.0%-3.6pp$9M
Medical - Diagnostics & Research2.6%+2.3pp$8M
Specialty Retail2.5%-0.2pp$8M
Oil & Gas Integrated2.2%-0.3pp$7M
Country
US97.4%-0.1pp
IE1.2%-0.4pp
Unknown0.7%+0.5pp
TW0.5%+0.0pp
CH0.2%
GB0.1%+0.0pp
Top 5: 25.2% · Top 10: 36.6% · Top 25: 59.9%
Top buys this quarter · 15
| CIEN Ciena Corporationnew | +$22M |
| IDXX IDEXX Laboratories, Inc.new | +$7M |
| AVGO Broadcom Inc. | +$5M |
| WMT Walmart Inc. | +$0M |
| V Visa Inc. | +$1M |
| GE GE Aerospace | +$0M |
| LLY Eli Lilly and Company | +$2M |
| PEP PepsiCo, Inc. | +$0M |
| MRK Merck & Co., Inc. | +$0M |
| AMD Advanced Micro Devices, Inc. | +$0M |
Top sells this quarter · 15
| AAPL Apple Inc. | −$8M |
| AFRM Affirm Holdings, Inc.exit | −$6M |
| NVDA NVIDIA Corporation | −$3M |
| GOOG Alphabet Inc. | −$2M |
| TSLA Tesla, Inc. | −$1M |
| PLTR Palantir Technologies Inc. | −$1M |
| AMZN Amazon.com, Inc. | −$1M |
| MAR Marriott International, Inc.exit | −$1M |
| RCL Royal Caribbean Cruises Ltd.exit | −$1M |
| MSFT Microsoft Corporation | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $312M | 165 | +23.60% | +17.59% | +6.01% | -0.03B |
| 2025-12-31 | $343M | 1357 | +16.52% | +17.72% | -1.20% | +0.05B |
| 2025-09-30 | $287M | 167 | +19.84% | +17.52% | +2.32% | -0.01B |
| 2025-06-30 | $267M | 164 | +11.31% | +10.78% | +0.53% | +0.02B |
| 2025-03-31 | $226M | 153 | -7.29% | -4.27% | -3.03% | +0.07B |
| 2024-12-31 | $164M | 87 | +5.48% | +2.49% | +2.99% | -0.03B |
| 2024-09-30 | $182M | 120 | — | — | — | — |