Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-11.20%
trims when stocks drop
when a holding falls −10%+
Middle response
-5.28%
baseline attrition
Rally response
-6.36%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| IUSViShares Core S&P U.S. Va | $83M | 7.4% | — | 0.3 yr |
| SPYGState Street SPDR Portfo | $58M | 5.2% | — | 1.0 yr |
| FNDFSchwab Fundamental Inter | $53M | 4.7% | — | 0.3 yr |
| SPYState Street SPDR S&P 50 | $41M | 3.7% | +52.2% | 0.3 yr |
| MDYVState Street SPDR S&P 40 | $36M | 3.2% | — | 0.3 yr |
| XOMExxon Mobil Corporation | $35M | 3.1% | +135.7% | 3.0 yr |
| AAPLApple Inc. | $29M | 2.6% | +48.4% | 3.0 yr |
| MSFTMicrosoft Corporation | $28M | 2.5% | +24.1% | 3.0 yr |
| JPMJPMorgan Chase & Co. | $24M | 2.2% | +138.1% | 3.0 yr |
| JNJJohnson & Johnson | $21M | 1.9% | +54.9% | 3.0 yr |
| SLYVState Street SPDR S&P 60 | $20M | 1.8% | — | 0.3 yr |
| RTXRTX Corporation | $17M | 1.5% | +112.7% | 3.0 yr |
| EFAiShares MSCI EAFE ETF | $16M | 1.5% | — | 0.3 yr |
| GOOGAlphabet Inc. | $13M | 1.2% | +107.1% | 3.0 yr |
| DEMWisdomTree Emerging Mark | $13M | 1.2% | — | 2.3 yr |
Portfolio composition (YoY)
Industry mix
Asset Management42.7%+40.5pp$477M
Drug Manufacturers - General5.1%-3.6pp$57M
Oil & Gas Integrated4.1%-0.4pp$45M
Software - Infrastructure3.5%-2.6pp$39M
Aerospace & Defense3.2%-0.2pp$36M
Banks - Diversified3.0%-0.2pp$33M
Consumer Electronics2.6%-1.5pp$29M
Semiconductors2.4%-1.3pp$27M
Internet Content & Information1.9%-1.4pp$22M
Regulated Electric1.5%-1.5pp$16M
Country
US96.6%+1.5pp
Unknown1.4%+1.0pp
IE1.2%-1.1pp
CA0.3%-0.6pp
GB0.2%+0.0pp
CH0.1%-0.7pp
NL0.1%-0.1pp
DE0.1%+0.0pp
Top 5: 24.2% · Top 10: 36.6% · Top 25: 53.5%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| XOM | $17M | +0.02B | 135.7% |
| JPM | $14M | +0.02B | 138.1% |
| AAPL | $27M | +0.01B | 48.4% |
| JNJ | $19M | +0.01B | 54.9% |
| CAT | $4M | +0.01B | 241.6% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Top buys this quarter · 15
| SPY State Street SPDR S&P 500 ETF new | +$41M |
| NVDA NVIDIA Corporation | +$9M |
| BLK BlackRock, Inc.new | +$5M |
| GE GE Aerospacenew | +$4M |
| WMT Walmart Inc. | +$3M |
| NOV NOV Inc.new | +$3M |
| SCHW The Charles Schwab Corporation | +$3M |
| AVGO Broadcom Inc. | +$2M |
| GEV GE Vernova Inc.new | +$2M |
| AMD Advanced Micro Devices, Inc.new | +$2M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.12B | 310 | +34.50% | -17.96% | +52.46% | +0.27B |
| 2022-12-31 | $589M | 251 | +11.52% | +7.56% | +3.96% | -0.04B |
| 2022-09-30 | $563M | 246 | -5.33% | -4.93% | -0.40% | +0.03B |
| 2022-06-30 | $565M | 245 | -11.06% | -16.11% | +5.05% | -0.02B |
| 2022-03-31 | $657M | 270 | — | — | — | -0.02B |
| 2021-12-31 | $678M | 287 | — | — | — | +0.06B |
| 2021-09-30 | $614M | 268 | — | — | — | -0.00B |
| 2021-06-30 | $616M | 268 | — | — | — | +0.02B |
| 2021-03-31 | $592M | 268 | — | — | — | +0.02B |
| 2020-12-31 | $569M | 256 | — | — | — | +0.00B |
| 2020-09-30 | $566M | 262 | — | — | — | +0.02B |
| 2020-06-30 | $544M | 268 | — | — | — | — |