Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-5.35%
trims when stocks drop
when a holding falls −10%+
Middle response
-0.94%
baseline attrition
Rally response
-1.78%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| VOOVanguard S&P 500 ETF | $1.09B | 5.3% | — | 10.0 yr |
| AAPLApple Inc. | $863M | 4.2% | +9.6% | 10.0 yr |
| IJRiShares Core S&P Small-C | $621M | 3.0% | — | 9.8 yr |
| MSFTMicrosoft Corporation | $570M | 2.8% | -13.0% | 10.0 yr |
| SPYState Street SPDR S&P 50 | $490M | 2.4% | +15.4% | 10.0 yr |
| GOOGLAlphabet Inc. | $358M | 1.8% | — | 10.0 yr |
| JNJJohnson & Johnson | $338M | 1.7% | +57.5% | 10.0 yr |
| JPMJPMorgan Chase & Co. | $338M | 1.7% | +43.3% | 10.0 yr |
| SMMDiShares Russell 2500 ETF | $337M | 1.7% | — | 2.0 yr |
| PVALPutnam Focused Large Cap | $332M | 1.6% | — | 1.8 yr |
| GOOGAlphabet Inc. | $322M | 1.6% | +72.6% | 10.0 yr |
| LLYEli Lilly and Company | $282M | 1.4% | +4.9% | 10.0 yr |
| NVDANVIDIA Corporation | $250M | 1.2% | +43.7% | 10.0 yr |
| AMZNAmazon.com, Inc. | $242M | 1.2% | +11.8% | 10.0 yr |
| VBVanguard Small-Cap ETF | $232M | 1.1% | — | 9.8 yr |
Portfolio composition (YoY)
Industry mix
Asset Management28.3%+6.9pp$5.76B
Semiconductors5.3%+1.9pp$1.09B
Software - Infrastructure5.2%-1.4pp$1.05B
Drug Manufacturers - General4.8%-0.0pp$986M
Internet Content & Information4.3%+0.7pp$869M
Consumer Electronics4.3%-0.4pp$866M
Banks - Diversified2.3%+0.4pp$466M
Specialty Retail2.1%-0.5pp$429M
Oil & Gas Integrated2.1%+0.3pp$419M
Financial - Credit Services2.0%-0.3pp$417M
Country
US96.0%+0.9pp
IE1.3%-0.5pp
CH0.7%+0.1pp
Unknown0.5%-0.7pp
GB0.4%+0.1pp
CA0.2%+0.0pp
LU0.2%+0.1pp
TW0.1%+0.1pp
Top 5: 17.8% · Top 10: 26.2% · Top 25: 41.7%
Top buys this quarter · 15
| NOW ServiceNow, Inc. | +$31M |
| P Everpure, Inc. | +$29M |
| MNST Monster Beverage Corporation | +$21M |
| AAPL Apple Inc. | +$863M |
| ROKU Roku, Inc. | +$16M |
| AZN AstraZeneca PLCnew | +$15M |
| TXN Texas Instruments Incorporated | +$14M |
| MRVL Marvell Technology, Inc. | +$13M |
| NWBI Northwest Bancshares, Inc. | +$11M |
| DLTR Dollar Tree, Inc. | +$10M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $20.36B | 1468 | +11.45% | -3.67% | +15.12% | -0.08B |
| 2025-12-31 | $21.10B | 1429 | +22.99% | +6.52% | +16.47% | -0.92B |
| 2025-03-31 | $18.62B | 1369 | +4.55% | +8.30% | -3.75% | -0.28B |
| 2024-12-31 | $19.59B | 1382 | +17.08% | +24.89% | -7.80% | -1.50B |
| 2024-09-30 | $20.91B | 1384 | +29.24% | +36.04% | -6.79% | -0.18B |
| 2024-06-30 | $19.72B | 1350 | +16.66% | +24.49% | -7.83% | -0.32B |
| 2024-03-31 | $19.94B | 1340 | +23.41% | +29.62% | -6.21% | -0.88B |
| 2023-12-31 | $19.27B | 1295 | +20.37% | +26.18% | -5.80% | -0.20B |
| 2023-09-30 | $17.49B | 1255 | +18.81% | +21.57% | -2.76% | +0.49B |
| 2023-06-30 | $17.61B | 1280 | +17.34% | +19.42% | -2.09% | -1.11B |
| 2023-03-31 | $17.62B | 1287 | -5.07% | -7.82% | +2.75% | -0.35B |
| 2022-12-31 | $17.05B | 1275 | -14.10% | -18.17% | +4.08% | -0.38B |
| 2022-09-30 | $15.86B | 1268 | -13.17% | -15.51% | +2.33% | -0.40B |
| 2022-06-30 | $17.06B | 1280 | -8.37% | -10.62% | +2.25% | -0.46B |
| 2022-03-31 | $20.37B | 1315 | +15.45% | +15.45% | -0.00% | +0.29B |
| 2021-12-31 | $21.05B | 1319 | +28.72% | +28.72% | +0.00% | -0.39B |