Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-1.20%
trims when stocks drop
when a holding falls −10%+
Middle response
-21.62%
baseline attrition
Rally response
-53.02%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NUNu Holdings Ltd. | $514M | 74.5% | — | 0.5 yr |
| IVViShares Core S&P 500 ETF | $12M | 1.7% | — | 0.3 yr |
| IEFiShares 7-10 Year Treasu | $10M | 1.5% | — | 0.3 yr |
| VALEVale S.A. | $10M | 1.4% | — | 0.5 yr |
| RSPInvesco S&P 500 Equal We | $9M | 1.4% | — | 0.5 yr |
| IAUiShares Gold Trust | $8M | 1.2% | — | 0.3 yr |
| ACWIiShares MSCI ACWI ETF | $8M | 1.2% | — | 0.5 yr |
| EMXCiShares MSCI Emerging Ma | $8M | 1.2% | — | 0.5 yr |
| BBDBanco Bradesco S.A. | $8M | 1.1% | — | 0.5 yr |
| JPIEJPMorgan Income ETF | $7M | 1.0% | — | 0.5 yr |
| VCITVanguard Intermediate-Te | $7M | 1.0% | — | 0.3 yr |
| PBRPetróleo Brasileiro S.A | $7M | 1.0% | — | 0.5 yr |
| VWOBVanguard Emerging Market | $6M | 0.9% | — | 0.5 yr |
| IEIiShares 3-7 Year Treasur | $6M | 0.8% | — | 0.3 yr |
| FPEFirst Trust Preferred Se | $6M | 0.8% | — | 0.5 yr |
Portfolio composition (YoY)
Industry mix
Banks - Diversified74.5%$514M
Asset Management15.3%$105M
Asset Management - Bonds5.1%$35M
Industrial Materials1.4%$10M
Oil & Gas Integrated1.3%$9M
Banks - Regional1.1%$8M
Asset Management - Income1.0%$7M
Unknown0.1%$1M
Steel0.1%$1M
Internet Content & Information0.0%$0M
Country
BR78.4%
US21.4%
Unknown0.1%
Top 5: 80.4% · Top 10: 86.0% · Top 25: 96.2%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Top buys this quarter · 15
| GGB Gerdau S.A.new | +$0M |
| META Meta Platforms, Inc.new | +$0M |
| MLKN MillerKnoll, Inc.new | +$0M |
| SID Companhia Siderúrgica Nacionanew | +$0M |
| BINC iShares Flexible Income Activenew | +$0M |
| FPE First Trust Preferred Securiti | +$0M |
| QQQ Invesco QQQ Trust, Series 1new | +$0M |
| RSP Invesco S&P 500 Equal Weight E | +$0M |
| IAU iShares Gold Trustnew | +$0M |
| IVV iShares Core S&P 500 ETFnew | +$0M |
Top sells this quarter · 10
| VALE Vale S.A. | −$12M |
| PBR Petróleo Brasileiro S.A. - Pe | −$7M |
| NU Nu Holdings Ltd. | −$6M |
| SPY State Street SPDR S&P 500 ETF | −$1M |
| BBD Banco Bradesco S.A. | −$1M |
| IBM International Business Machineexit | −$0M |
| HOOD Robinhood Markets, Inc.exit | −$0M |
| HELO JPMorgan Hedged Equity Laddere | −$0M |
| — | −$0M |
| MGK Vanguard Mega Cap Growth ETFexit | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $690M | 53 | -11.81% | -4.37% | -7.44% | +0.05B |
| 2025-12-31 | $729M | 34 | — | — | — | — |