Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-0.80%
trims when stocks drop
when a holding falls −10%+
Middle response
-1.45%
baseline attrition
Rally response
-2.39%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| THFFFirst Financial Corporat | $40M | 15.9% | +34.1% | 10.5 yr |
| VOOVanguard S&P 500 ETF | $32M | 12.6% | — | 8.8 yr |
| VGTVanguard Information Tec | $14M | 5.5% | — | 10.5 yr |
| VEAVanguard FTSE Developed | $10M | 4.0% | — | 10.5 yr |
| IVViShares Core S&P 500 ETF | $8M | 3.2% | — | 6.0 yr |
| MSFTMicrosoft Corporation | $6M | 2.5% | -0.6% | 10.5 yr |
| VOVanguard Mid-Cap ETF | $6M | 2.3% | — | 10.0 yr |
| VBVanguard Small-Cap ETF | $5M | 2.0% | — | 10.5 yr |
| AAPLApple Inc. | $5M | 2.0% | +14.7% | 10.5 yr |
| VOXVanguard Communication S | $4M | 1.7% | — | 10.0 yr |
| LLYEli Lilly and Company | $4M | 1.6% | +12.2% | 10.5 yr |
| NVDANVIDIA Corporation | $4M | 1.4% | +60.9% | 6.8 yr |
| VFHVanguard Financials ETF | $3M | 1.3% | — | 10.0 yr |
| IQDFFlexShares International | $3M | 1.3% | — | 0.8 yr |
| AVGOBroadcom Inc. | $3M | 1.2% | +86.0% | 7.3 yr |
Portfolio composition (YoY)
Industry mix
Asset Management51.1%+6.6pp$130M
Banks - Regional16.1%+1.8pp$41M
Drug Manufacturers - General3.5%-0.7pp$9M
Semiconductors3.2%+0.9pp$8M
Software - Infrastructure3.0%-1.0pp$8M
Oil & Gas Integrated2.0%-0.2pp$5M
Consumer Electronics2.0%-0.3pp$5M
Internet Content & Information1.6%+0.1pp$4M
Banks - Diversified1.6%-0.3pp$4M
Aerospace & Defense1.1%-0.1pp$3M
Country
US97.2%+0.7pp
CA0.9%-0.3pp
GB0.7%-0.2pp
IE0.6%-0.1pp
AU0.2%+0.0pp
SG0.1%+0.1pp
DK0.1%-0.1pp
CH0.1%-0.0pp
Top 5: 41.2% · Top 10: 51.6% · Top 25: 68.0%
Top buys this quarter · 15
| THFF First Financial Corporation | +$0M |
| PRU Prudential Financial, Inc. | +$0M |
| PANW Palo Alto Networks, Inc. | +$1M |
| CMG Chipotle Mexican Grill, Inc. | +$1M |
| ABT Abbott Laboratories | +$2M |
| NOW ServiceNow, Inc. | +$0M |
| HD The Home Depot, Inc. | +$1M |
| PFE Pfizer Inc. | +$0M |
| VZ Verizon Communications Inc. | +$0M |
| META Meta Platforms, Inc. | +$2M |
Top sells this quarter · 15
| SPY State Street SPDR S&P 500 ETF | −$1M |
| NVDA NVIDIA Corporation | −$0M |
| LMT Lockheed Martin Corporation | −$2M |
| JCI Johnson Controls International | −$0M |
| LLY Eli Lilly and Company | −$0M |
| SU Suncor Energy Inc. | −$1M |
| PG The Procter & Gamble Company | −$0M |
| XOM Exxon Mobil Corporation | −$2M |
| SYY Sysco Corporation | −$0M |
| AAPL Apple Inc. | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $255M | 301 | +18.28% | +17.59% | +0.69% | -0.01B |
| 2025-12-31 | $265M | 307 | +20.24% | +17.72% | +2.52% | +0.00B |
| 2025-09-30 | $255M | 314 | +16.75% | +17.52% | -0.76% | +0.02B |
| 2025-06-30 | $224M | 314 | +21.16% | +14.94% | +6.22% | -0.00B |
| 2025-03-31 | $207M | 342 | +11.58% | +8.30% | +3.28% | -0.01B |
| 2024-12-31 | $215M | 399 | +14.59% | +24.89% | -10.29% | +0.00B |
| 2024-09-30 | $210M | 440 | +30.59% | +36.04% | -5.44% | -0.01B |
| 2024-06-30 | $196M | 466 | +17.43% | +24.49% | -7.06% | -0.00B |
| 2024-03-31 | $197M | 553 | +18.78% | +29.62% | -10.85% | -0.01B |
| 2023-12-31 | $197M | 381 | +11.00% | +26.18% | -15.18% | +0.00B |
| 2023-09-30 | $171M | 379 | +4.87% | +21.57% | -16.70% | +0.02B |
| 2023-06-30 | $156M | 336 | +3.35% | +19.42% | -16.07% | -0.01B |
| 2023-03-31 | $161M | 379 | -8.55% | -7.82% | -0.74% | +0.00B |
| 2022-12-31 | $163M | 378 | -10.31% | -18.17% | +7.86% | +0.00B |
| 2022-09-30 | $149M | 364 | -8.16% | -15.51% | +7.35% | +0.00B |
| 2022-06-30 | $152M | 320 | -4.75% | -10.62% | +5.87% | +0.00B |