Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-2.44%
trims when stocks drop
when a holding falls −10%+
Middle response
-1.80%
baseline attrition
Rally response
-4.69%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| SCHXSchwab U.S. Large-Cap ET | $77M | 11.8% | — | 4.5 yr |
| VEUVanguard FTSE All-World | $45M | 7.0% | — | 4.5 yr |
| SPABState Street SPDR Portfo | $43M | 6.6% | — | 4.5 yr |
| HTRBHartford Total Return Bo | $34M | 5.2% | — | 4.3 yr |
| IVViShares Core S&P 500 ETF | $29M | 4.5% | — | 4.5 yr |
| JAAAJanus Henderson AAA CLO | $29M | 4.5% | — | 2.0 yr |
| SPLGSPDR Portfolio S&P 500 E | $25M | 3.8% | — | 2.3 yr |
| SGOViShares 0-3 Month Treasu | $22M | 3.4% | — | 1.5 yr |
| QLTAiShares Aaa - A Rated Co | $19M | 2.9% | — | 2.5 yr |
| SPSMState Street SPDR Portfo | $18M | 2.7% | — | 3.5 yr |
| MMINNYLI MacKay Muni Insured | $17M | 2.6% | — | 4.5 yr |
| GSEWGoldman Sachs Equal Weig | $16M | 2.5% | — | 4.5 yr |
| GARPiShares MSCI USA Quality | $14M | 2.2% | — | 0.3 yr |
| MMITNYLI MacKay Muni Interme | $13M | 2.1% | — | 3.5 yr |
| PREFPrincipal Spectrum Prefe | $12M | 1.9% | — | 2.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management80.8%-2.7pp$524M
Asset Management - Bonds14.2%+1.5pp$92M
Asset Management - Income1.4%+0.7pp$9M
Insurance - Diversified0.9%+0.6pp$6M
Consumer Electronics0.3%+0.1pp$2M
Drug Manufacturers - General0.3%+0.1pp$2M
Banks - Regional0.2%-0.2pp$1M
Oil & Gas Integrated0.2%+0.0pp$1M
Information Technology Services0.2%-0.0pp$1M
Restaurants0.2%-0.1pp$1M
Country
US100.0%+0.0pp
GB0.0%-0.0pp
Top 5: 35.2% · Top 10: 52.6% · Top 25: 75.6%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| SPY | $7M | +0.00B | 17.6% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Top buys this quarter · 15
| XOM Exxon Mobil Corporation | +$0M |
| IBM International Business Machine | +$1M |
| YUM Yum! Brands, Inc. | +$0M |
| ABBV AbbVie Inc. | +$1M |
| CSCO Cisco Systems, Inc. | +$0M |
| TFC Truist Financial Corporation | +$0M |
| BRK-A Berkshire Hathaway Inc. | +$0M |
| BRK-B Berkshire Hathaway Inc. | +$1M |
| TAXX BondBloxx IR+M Tax-Aware Short | +$0M |
| CGXU Capital Group International Fo | +$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $648M | 134 | +14.48% | +17.59% | -3.11% | +0.04B |
| 2025-12-31 | $616M | 133 | +15.88% | +17.72% | -1.84% | +0.03B |
| 2025-09-30 | $572M | 128 | +14.70% | +17.52% | -2.81% | +0.03B |
| 2025-06-30 | $503M | 112 | +14.84% | +14.94% | -0.10% | -0.01B |
| 2025-03-31 | $488M | 123 | +11.95% | +8.30% | +3.64% | +0.03B |
| 2024-12-31 | $462M | 105 | +21.45% | +24.89% | -3.44% | +0.00B |
| 2024-09-30 | $452M | 104 | +32.04% | +36.04% | -3.99% | +0.07B |
| 2024-06-30 | $354M | 101 | +20.23% | +24.49% | -4.26% | +0.06B |
| 2024-03-31 | $284M | 102 | +20.59% | +29.62% | -9.03% | -0.00B |
| 2023-12-31 | $264M | 97 | +17.72% | +26.18% | -8.45% | -0.01B |
| 2023-09-30 | $250M | 92 | +19.00% | +21.57% | -2.57% | +0.02B |
| 2023-06-30 | $231M | 88 | +15.84% | +19.42% | -3.59% | +0.02B |
| 2023-03-31 | $204M | 75 | -2.13% | -7.82% | +5.69% | +0.01B |
| 2022-12-31 | $187M | 79 | -11.04% | -18.17% | +7.14% | +0.04B |
| 2022-09-30 | $131M | 59 | -3.65% | -4.93% | +1.28% | -0.00B |
| 2022-06-30 | $140M | 70 | -12.96% | -16.11% | +3.15% | +0.02B |