Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-2.36%
trims when stocks drop
when a holding falls −10%+
Middle response
+1.32%
steady accumulation
Rally response
-2.30%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| CVIECalvert International Re | $27M | 5.6% | — | 1.3 yr |
| CVLCCalvert US Large-Cap Cor | $18M | 3.7% | — | 1.5 yr |
| SMMDiShares Russell 2500 ETF | $10M | 2.0% | — | 1.5 yr |
| FRDMFreedom 100 Emerging Mar | $9M | 1.9% | — | 1.5 yr |
| NVDANVIDIA Corporation | $8M | 1.7% | +60.9% | 1.5 yr |
| SPYState Street SPDR S&P 50 | $8M | 1.6% | +17.6% | 1.5 yr |
| AAPLApple Inc. | $7M | 1.6% | +14.7% | 1.5 yr |
| VOOVanguard S&P 500 ETF | $7M | 1.5% | — | 1.5 yr |
| BIVVanguard Intermediate-Te | $7M | 1.5% | — | 1.5 yr |
| GRNBVanEck Green Bond ETF | $6M | 1.3% | — | 1.5 yr |
| VDCVanguard Consumer Staple | $6M | 1.2% | — | 1.5 yr |
| EAGGiShares ESG Aware U.S. A | $6M | 1.2% | — | 1.3 yr |
| SCHGSchwab U.S. Large-Cap Gr | $6M | 1.2% | — | 1.3 yr |
| VUGVanguard Growth ETF | $6M | 1.2% | — | 1.3 yr |
| MSFTMicrosoft Corporation | $5M | 1.1% | -0.6% | 1.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management54.7%+11.8pp$262M
Asset Management - Bonds9.1%-2.1pp$43M
Semiconductors3.5%+1.3pp$17M
Internet Content & Information2.3%+0.1pp$11M
Gold1.8%+0.1pp$9M
Consumer Electronics1.7%-0.7pp$8M
Software - Infrastructure1.7%-0.6pp$8M
Drug Manufacturers - General1.5%-0.1pp$7M
Oil & Gas Midstream1.3%-0.6pp$6M
Unknown1.3%+0.5pp$6M
Country
US92.4%+0.9pp
CA3.6%-0.5pp
Unknown1.3%+0.5pp
BM0.5%-0.4pp
GB0.5%-0.1pp
IE0.3%-0.4pp
TW0.3%+0.1pp
BR0.2%-0.0pp
Top 5: 14.9% · Top 10: 22.4% · Top 25: 37.6%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| GOOG | $2M | +0.00B | 84.3% |
| NVDA | $2M | +0.00B | 60.9% |
| AAPL | $5M | +0.00B | 14.7% |
| AMZN | $2M | +0.00B | 9.5% |
| SPY | $1M | +0.00B | 17.6% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| MSFT | $4M | -0.00B | -0.6% |
Top buys this quarter · 15
| SPY State Street SPDR S&P 500 ETF | +$7M |
| GOOG Alphabet Inc. | +$3M |
| NVDA NVIDIA Corporation | +$2M |
| MSFT Microsoft Corporation | +$2M |
| AMZN Amazon.com, Inc. | +$2M |
| OLN Olin Corporation | +$1M |
| AVGO Broadcom Inc. | +$1M |
| XOM Exxon Mobil Corporation | +$1M |
| AAPL Apple Inc. | +$1M |
| META Meta Platforms, Inc. | +$0M |
Top sells this quarter · 15
| MTZ MasTec, Inc. | −$1M |
| JOE The St. Joe Company | −$1M |
| VAL Valaris Limitedexit | −$1M |
| MDGL Madrigal Pharmaceuticals, Inc. | −$1M |
| PAAS Pan American Silver Corp. | −$0M |
| TNK Teekay Tankers Ltd. | −$0M |
| TRX.TO TRX Gold Corporation | −$1M |
| CPT Camden Property Trustexit | −$0M |
| GPN Global Payments Inc. | −$0M |
| INSW International Seaways, Inc. | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $479M | 2257 | +24.99% | +17.59% | +7.39% | +0.16B |
| 2025-12-31 | $318M | 1799 | +20.62% | +17.72% | +2.91% | +0.01B |
| 2025-09-30 | $301M | 1475 | +10.49% | +8.12% | +2.36% | +0.01B |
| 2025-06-30 | $266M | 1236 | +8.87% | +10.78% | -1.91% | +0.01B |
| 2025-03-31 | $232M | 1066 | -1.88% | -4.27% | +2.39% | +0.08B |
| 2024-12-31 | $158M | 199 | — | — | — | — |