Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-12.33%
trims when stocks drop
when a holding falls −10%+
Middle response
-5.63%
baseline attrition
Rally response
-21.90%
trims into rallies
when a holding rises +10%+
Top positions · 6
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| VOOVanguard S&P 500 ETF | $288M | 58.8% | — | 4.8 yr |
| SPYState Street SPDR S&P 50 | $93M | 18.9% | +17.6% | 5.0 yr |
| MMSDNYLI MacKay Muni Short D | $50M | 10.2% | — | 1.0 yr |
| SECRNYLI MacKay Securitized | $26M | 5.3% | — | 2.0 yr |
| MMCANYLI MacKay California M | $25M | 5.1% | — | 2.0 yr |
| NTSKNetskope, Inc. Class A C | $9M | 1.8% | — | 0.8 yr |
Portfolio composition (YoY)
Industry mix
Asset Management98.2%-1.8pp$482M
Software - Services1.8%$9M
Country
US100.0%+0.0pp
Top 5: 98.2% · Top 10: 100.0% · Top 25: 100.0%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| SPY | $80M | +0.01B | 17.6% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Top buys this quarter · 1
| VOO Vanguard S&P 500 ETF | +$0M |
Top sells this quarter · 1
| NTSK Netskope, Inc. Class A Common | −$3M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $491M | 6 | -0.52% | +17.59% | -18.11% | +0.10B |
| 2025-12-31 | $456M | 6 | +10.45% | +17.72% | -7.27% | +0.07B |
| 2025-09-30 | $406M | 5 | +17.52% | +17.52% | +0.00% | +0.03B |
| 2025-06-30 | $351M | 5 | +14.98% | +14.94% | +0.03% | +0.02B |
| 2025-03-31 | $297M | 3 | +8.30% | +8.30% | +0.00% | -0.20B |
| 2024-12-31 | $525M | 4 | +24.89% | +24.89% | +0.00% | +0.04B |
| 2024-09-30 | $470M | 4 | +36.04% | +36.04% | +0.00% | +0.05B |
| 2024-06-30 | $398M | 4 | +24.49% | +24.49% | +0.00% | +0.03B |
| 2024-03-31 | $353M | 3 | +29.62% | +29.62% | +0.00% | +0.16B |
| 2023-12-31 | $179M | 3 | +26.18% | +26.18% | +0.00% | -0.82B |
| 2023-09-30 | $897M | 8 | +21.57% | +21.57% | +0.00% | -0.00B |
| 2023-06-30 | $931M | 7 | +19.42% | +19.42% | +0.00% | -0.27B |
| 2023-03-31 | $1.11B | 9 | +67.72% | -7.82% | +75.54% | -0.01B |
| 2022-12-31 | $1.04B | 8 | +66.64% | -8.41% | +75.05% | +0.00B |
| 2022-09-30 | $962M | 8 | +61.76% | -11.10% | +72.85% | +0.00B |
| 2022-06-30 | $1.01B | 8 | +75.37% | -3.62% | +78.99% | -0.63B |