Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-2.76%
trims when stocks drop
when a holding falls −10%+
Middle response
-3.21%
baseline attrition
Rally response
+1.05%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| MSFTMicrosoft Corporation | $270M | 5.9% | -0.6% | 5.5 yr |
| VTIVanguard Total Stock Mar | $253M | 5.5% | — | 5.5 yr |
| AAPLApple Inc. | $236M | 5.1% | +14.7% | 5.5 yr |
| NVDANVIDIA Corporation | $188M | 4.1% | +60.9% | 3.8 yr |
| VEAVanguard FTSE Developed | $121M | 2.6% | — | 5.5 yr |
| VEUVanguard FTSE All-World | $112M | 2.4% | — | 5.5 yr |
| BRK-ABerkshire Hathaway Inc. | $109M | 2.4% | — | 2.3 yr |
| VWOVanguard FTSE Emerging M | $101M | 2.2% | — | 5.5 yr |
| AMZNAmazon.com, Inc. | $95M | 2.1% | +9.5% | 5.5 yr |
| GOOGLAlphabet Inc. | $91M | 2.0% | — | 3.5 yr |
| VVVanguard Large-Cap ETF | $58M | 1.3% | — | 2.0 yr |
| AVGOBroadcom Inc. | $57M | 1.3% | +86.0% | 3.3 yr |
| GOOGAlphabet Inc. | $55M | 1.2% | +84.3% | 5.5 yr |
| SPYState Street SPDR S&P 50 | $53M | 1.2% | +17.6% | 5.5 yr |
| VTVanguard Total World Sto | $51M | 1.1% | — | 4.8 yr |
Portfolio composition (YoY)
Industry mix
Asset Management27.6%-10.2pp$1.26B
Semiconductors9.5%+8.3pp$436M
Software - Infrastructure6.9%-34.1pp$317M
Consumer Electronics5.3%+2.3pp$244M
Internet Content & Information4.4%+2.7pp$204M
Insurance - Diversified3.4%$157M
Banks - Diversified3.1%+1.7pp$142M
Drug Manufacturers - General3.1%$140M
Specialty Retail2.7%+0.3pp$125M
Financial - Credit Services1.5%+1.4pp$70M
Country
US88.6%-10.0pp
CA2.0%+0.9pp
GB1.4%+1.4pp
TW1.4%
IE1.1%
NL0.7%
KR0.6%+0.6pp
JP0.6%+0.6pp
Top 5: 23.3% · Top 10: 34.4% · Top 25: 49.2%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| NVDA | $6M | +0.00B | 60.9% |
| AAPL | $19M | +0.00B | 14.7% |
| GOOG | $3M | +0.00B | 84.3% |
| AMZN | $15M | +0.00B | 9.5% |
| JPM | $6M | +0.00B | 21.8% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| MSFT | $250M | -0.00B | -0.6% |
Top buys this quarter · 15
| AZN AstraZeneca PLCnew | +$10M |
| SKM SK Telecom Co.,Ltd | +$2M |
| FITB Fifth Third Bancorp | +$1M |
| TSLA Tesla, Inc. | +$38M |
| SUNB Sunbelt Rentals Holdings Incnew | +$1M |
| PKX POSCO Holdings Inc. | +$1M |
| PCAR PACCAR Inc | +$1M |
| MCK McKesson Corporation | +$1M |
| LRCX Lam Research Corporation | +$1M |
| LPL LG Display Co., Ltd. | +$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $4.58B | 980 | +28.85% | +17.59% | +11.26% | +0.01B |
| 2025-12-31 | $4.81B | 1019 | +23.54% | +17.72% | +5.82% | +4.21B |
| 2025-09-30 | $582M | 65 | +18.69% | +17.52% | +1.17% | -0.19B |
| 2025-06-30 | $728M | 69 | +11.63% | +14.94% | -3.31% | -0.04B |
| 2025-03-31 | $622M | 67 | -6.16% | +8.30% | -14.46% | -0.04B |
| 2024-12-31 | $731M | 80 | +11.60% | +24.89% | -13.29% | -0.02B |
| 2024-09-30 | $764M | 84 | +29.06% | +36.04% | -6.98% | +0.06B |
| 2024-06-30 | $709M | 72 | +21.40% | +24.49% | -3.09% | -0.06B |
| 2024-03-31 | $738M | 83 | +35.33% | +29.62% | +5.70% | -0.18B |
| 2023-12-31 | $846M | 90 | +48.52% | +26.18% | +22.34% | -0.04B |
| 2023-09-30 | $777M | 115 | +16.66% | +21.57% | -4.91% | -0.02B |
| 2023-06-30 | $850M | 115 | +15.30% | +19.42% | -4.12% | -0.08B |
| 2023-03-31 | $801M | 119 | -18.28% | -7.82% | -10.47% | -0.04B |
| 2022-12-31 | $704M | 115 | -34.43% | -18.17% | -16.26% | +0.31B |
| 2022-09-30 | $440M | 71 | -18.99% | -15.51% | -3.48% | -0.29B |
| 2022-06-30 | $790M | 121 | -12.07% | -10.62% | -1.45% | -0.12B |