Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+3.36%
adds when stocks drop
when a holding falls −10%+
Middle response
-2.05%
baseline attrition
Rally response
-2.59%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| VTIVanguard Total Stock Mar | $211M | 2.6% | — | 10.5 yr |
| AAPLApple Inc. | $208M | 2.6% | +14.7% | 10.5 yr |
| WMTWalmart Inc. | $192M | 2.4% | +42.8% | 10.5 yr |
| QQQInvesco QQQ Trust, Serie | $152M | 1.9% | — | 7.8 yr |
| NVDANVIDIA Corporation | $142M | 1.8% | +60.9% | 10.3 yr |
| MSFTMicrosoft Corporation | $142M | 1.8% | -0.6% | 10.5 yr |
| AMZNAmazon.com, Inc. | $136M | 1.7% | +9.5% | 9.5 yr |
| AVGOBroadcom Inc. | $128M | 1.6% | +86.0% | 8.0 yr |
| JPMJPMorgan Chase & Co. | $125M | 1.6% | +21.8% | 10.5 yr |
| IWDiShares Russell 1000 Val | $125M | 1.6% | — | 10.5 yr |
| IWFiShares Russell 1000 Gro | $112M | 1.4% | — | 10.5 yr |
| SPYState Street SPDR S&P 50 | $108M | 1.4% | +17.6% | 10.5 yr |
| IWSiShares Russell Mid-Cap | $100M | 1.3% | — | 10.5 yr |
| GOOGLAlphabet Inc. | $99M | 1.2% | — | 7.8 yr |
| GOOGAlphabet Inc. | $89M | 1.1% | +84.3% | 7.8 yr |
Portfolio composition (YoY)
Industry mix
Asset Management38.6%-2.6pp$3.08B
Semiconductors4.9%+1.6pp$389M
Asset Management - Bonds3.5%-0.2pp$275M
Internet Content & Information3.1%+1.0pp$248M
Drug Manufacturers - General2.9%+0.0pp$231M
Software - Infrastructure2.8%-0.1pp$225M
Discount Stores2.7%+0.6pp$219M
Consumer Electronics2.6%-0.0pp$208M
Banks - Diversified2.3%+0.2pp$186M
Specialty Retail2.3%+0.0pp$180M
Country
US95.6%-0.2pp
Unknown1.4%+0.3pp
IE0.9%-0.2pp
GB0.7%+0.0pp
CA0.4%+0.1pp
NL0.3%+0.0pp
TW0.2%+0.1pp
CH0.1%-0.0pp
Top 5: 11.4% · Top 10: 19.6% · Top 25: 34.3%
Top buys this quarter · 15
| KRUS Kura Sushi USA, Inc. | +$19M |
| WMT Walmart Inc. | +$12M |
| AMZN Amazon.com, Inc. | +$136M |
| MSFT Microsoft Corporation | +$142M |
| FG F&G Annuities & Life, Inc. | +$6M |
| PEP PepsiCo, Inc. | +$6M |
| DUK Duke Energy Corporation | +$5M |
| META Meta Platforms, Inc. | +$58M |
| NVDA NVIDIA Corporation | +$142M |
| GS The Goldman Sachs Group, Inc. | +$4M |
Top sells this quarter · 15
| SPY State Street SPDR S&P 500 ETF | −$20M |
| MRK Merck & Co., Inc. | −$8M |
| WRB W. R. Berkley Corporation | −$7M |
| XOM Exxon Mobil Corporation | −$42M |
| HSY The Hershey Company | −$6M |
| RY Royal Bank of Canada | −$6M |
| GPC Genuine Parts Company | −$5M |
| AAPL Apple Inc. | −$5M |
| GOOG Alphabet Inc. | −$5M |
| CLS Celestica Inc.exit | −$5M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $7.96B | 1263 | +18.31% | +17.59% | +0.72% | +0.09B |
| 2025-12-31 | $8.01B | 1254 | +15.60% | +17.72% | -2.12% | -0.03B |
| 2025-09-30 | $7.82B | 1268 | +15.25% | +17.52% | -2.27% | +0.05B |
| 2025-06-30 | $7.25B | 1224 | +15.48% | +14.94% | +0.54% | -0.18B |
| 2025-03-31 | $6.80B | 1186 | +4.87% | +8.30% | -3.43% | -0.03B |
| 2024-12-31 | $7.11B | 1220 | +19.66% | +24.89% | -5.23% | -0.09B |
| 2024-09-30 | $7.03B | 1240 | +29.74% | +36.04% | -6.29% | +0.01B |
| 2024-06-30 | $6.53B | 1223 | +16.78% | +24.49% | -7.71% | +0.16B |
| 2024-03-31 | $6.43B | 1262 | +25.95% | +29.62% | -3.67% | +0.08B |
| 2023-12-31 | $5.79B | 1201 | +21.87% | +26.18% | -4.31% | +0.00B |
| 2023-09-30 | $5.21B | 1167 | +17.78% | +21.57% | -3.78% | -0.16B |
| 2023-06-30 | $5.55B | 1181 | +16.97% | +19.42% | -2.45% | -0.02B |
| 2023-03-31 | $5.21B | 1145 | -5.91% | -7.82% | +1.90% | +0.04B |
| 2022-12-31 | $4.88B | 1124 | -15.36% | -18.17% | +2.82% | -0.14B |
| 2022-09-30 | $4.67B | 1193 | -12.44% | -15.51% | +3.07% | -0.08B |
| 2022-06-30 | $4.95B | 1218 | -8.28% | -10.62% | +2.34% | -0.33B |