Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-13.52%
trims when stocks drop
when a holding falls −10%+
Middle response
-6.29%
baseline attrition
Rally response
-7.04%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| ITOTiShares Core S&P Total U | $215M | 24.6% | — | 2.8 yr |
| MOATVanEck Morningstar Wide | $84M | 9.6% | — | 2.8 yr |
| VXUSVanguard Total Internati | $77M | 8.8% | — | 2.8 yr |
| EVTREaton Vance Total Return | $71M | 8.2% | — | 0.3 yr |
| VIGVanguard Dividend Apprec | $55M | 6.3% | — | 2.8 yr |
| JGROJPMorgan Active Growth E | $47M | 5.4% | — | 1.8 yr |
| AGGiShares Core U.S. Aggreg | $36M | 4.2% | — | 2.8 yr |
| EEMiShares MSCI Emerging Ma | $36M | 4.1% | — | 2.8 yr |
| IWViShares Russell 3000 ETF | $29M | 3.4% | — | 2.8 yr |
| SPYState Street SPDR S&P 50 | $25M | 2.9% | +17.6% | 2.8 yr |
| SPYVState Street SPDR Portfo | $24M | 2.8% | — | 2.8 yr |
| FLHYFranklin High Yield Corp | $20M | 2.3% | — | 0.3 yr |
| NVDANVIDIA Corporation | $16M | 1.8% | +60.9% | 2.8 yr |
| IEFAiShares Core MSCI EAFE E | $11M | 1.2% | — | 2.5 yr |
| AAPLApple Inc. | $10M | 1.1% | +14.7% | 2.8 yr |
Portfolio composition (YoY)
Industry mix
Asset Management92.3%+2.8pp$806M
Semiconductors2.0%+0.2pp$18M
Consumer Electronics1.1%-0.3pp$10M
Software - Infrastructure0.5%-0.2pp$5M
Asset Management - Bonds0.4%-0.5pp$3M
Drug Manufacturers - General0.3%-0.2pp$3M
Agricultural - Machinery0.3%+0.1pp$3M
Financial - Credit Services0.2%-0.1pp$2M
Specialty Retail0.2%-0.1pp$2M
Internet Content & Information0.2%-0.0pp$2M
Country
US99.5%+0.1pp
CA0.2%+0.0pp
TW0.1%+0.0pp
GB0.1%-0.0pp
IE0.1%-0.1pp
CH0.0%-0.0pp
Unknown0.0%-0.0pp
JP0.0%-0.0pp
Top 5: 57.5% · Top 10: 77.4% · Top 25: 92.3%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| NVDA | $11M | +0.01B | 60.9% |
| SPY | $25M | +0.00B | 17.6% |
| AAPL | $10M | +0.00B | 14.7% |
| CAT | $1M | +0.00B | 117.8% |
| AMZN | $2M | +0.00B | 9.5% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| MSFT | $4M | -0.00B | -0.6% |
Top buys this quarter · 15
| V Visa Inc. | +$1M |
| AAPL Apple Inc. | +$10M |
| TJX The TJX Companies, Inc. | +$0M |
| MCK McKesson Corporation | +$0M |
| AVGO Broadcom Inc. | +$0M |
| GOOG Alphabet Inc. | +$0M |
| XOM Exxon Mobil Corporation | +$0M |
| HD The Home Depot, Inc. | +$0M |
| WMT Walmart Inc. | +$0M |
| ACN Accenture plc | +$0M |
Top sells this quarter · 15
| SPY State Street SPDR S&P 500 ETF | −$2M |
| NVDA NVIDIA Corporation | −$2M |
| CHRD Chord Energy Corporationexit | −$1M |
| PLTR Palantir Technologies Inc. | −$0M |
| WDAY Workday, Inc. | −$0M |
| KR The Kroger Co.exit | −$0M |
| INTU Intuit Inc. | −$0M |
| MELI MercadoLibre, Inc. | −$0M |
| PM Philip Morris International In | −$0M |
| HUBS HubSpot, Inc. | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $874M | 411 | +19.66% | +17.59% | +2.07% | +0.08B |
| 2025-12-31 | $830M | 418 | +20.09% | +17.72% | +2.37% | +0.04B |
| 2025-09-30 | $774M | 437 | +19.11% | +17.52% | +1.59% | +0.01B |
| 2025-06-30 | $696M | 421 | +15.70% | +14.94% | +0.76% | -0.08B |
| 2025-03-31 | $695M | 539 | +6.55% | +8.30% | -1.75% | -0.04B |
| 2024-12-31 | $774M | 553 | +19.93% | +24.89% | -4.95% | -0.04B |
| 2024-09-30 | $800M | 596 | +31.62% | +36.04% | -4.42% | +0.04B |
| 2024-06-30 | $715M | 514 | +2.99% | +4.38% | -1.38% | -0.02B |
| 2024-03-31 | $711M | 540 | +7.56% | +10.39% | -2.83% | -0.09B |
| 2023-12-31 | $742M | 595 | +11.28% | +11.64% | -0.36% | +0.05B |
| 2023-09-30 | $619M | 484 | — | — | — | — |