Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-6.01%
trims when stocks drop
when a holding falls −10%+
Middle response
-4.36%
baseline attrition
Rally response
-2.65%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| SCHXSchwab U.S. Large-Cap ET | $52M | 6.8% | — | 10.3 yr |
| SCHGSchwab U.S. Large-Cap Gr | $31M | 4.0% | — | 10.3 yr |
| VTVVanguard Value ETF | $30M | 3.9% | — | 7.3 yr |
| FBNDFidelity Total Bond ETF | $29M | 3.7% | — | 4.3 yr |
| FELCFidelity Enhanced Large | $29M | 3.7% | — | 0.3 yr |
| AAPLApple Inc. | $26M | 3.4% | +14.7% | 10.0 yr |
| BONDPIMCO Active Bond Exchan | $24M | 3.1% | — | 6.8 yr |
| SCHFSchwab International Equ | $24M | 3.1% | — | 10.3 yr |
| SCHBSchwab U.S. Broad Market | $24M | 3.0% | — | 10.3 yr |
| CGGRCapital Group Growth ETF | $23M | 2.9% | — | 0.3 yr |
| IUSBiShares Core Universal U | $16M | 2.1% | — | 5.5 yr |
| MSFTMicrosoft Corporation | $15M | 1.9% | -0.6% | 10.3 yr |
| DFAIDimensional - Internatio | $14M | 1.9% | — | 3.8 yr |
| LRCXLam Research Corporation | $13M | 1.7% | +196.1% | 1.5 yr |
| SCHMSchwab U.S. Mid-Cap ETF | $11M | 1.5% | — | 10.3 yr |
Portfolio composition (YoY)
Industry mix
Asset Management53.5%+5.3pp$413M
Asset Management - Bonds7.3%+1.1pp$57M
Semiconductors7.1%+2.3pp$55M
Consumer Electronics3.4%-1.0pp$26M
Drug Manufacturers - General3.2%-0.1pp$25M
Software - Infrastructure2.2%-1.1pp$17M
Internet Content & Information1.9%+0.4pp$15M
Specialty Retail1.2%-0.4pp$9M
Tobacco0.9%+0.2pp$7M
Aerospace & Defense0.9%-0.2pp$7M
Country
US95.8%-1.3pp
TW1.2%+0.5pp
IE1.1%+0.6pp
GB0.9%+0.7pp
CH0.4%-0.1pp
NL0.2%+0.0pp
UY0.2%-0.1pp
CA0.1%+0.0pp
Top 5: 22.2% · Top 10: 37.7% · Top 25: 57.2%
Top buys this quarter · 15
| AZN AstraZeneca PLCnew | +$3M |
| CRCL Circle Internet Groupnew | +$0M |
| MSFT Microsoft Corporation | +$15M |
| UHS Universal Health Services, Inc | +$0M |
| PPL PPL Corporation | +$0M |
| GGG Graco Inc. | +$0M |
| THC Tenet Healthcare Corporation | +$0M |
| META Meta Platforms, Inc. | +$5M |
| ONTO Onto Innovation Inc. | +$0M |
| KLAC KLA Corporation | +$0M |
Top sells this quarter · 15
| AAPL Apple Inc. | −$0M |
| CLS Celestica Inc.exit | −$0M |
| VZ Verizon Communications Inc. | −$0M |
| LNG Cheniere Energy, Inc. | −$0M |
| AMAT Applied Materials, Inc. | −$3M |
| HWM Howmet Aerospace Inc. | −$0M |
| AMZN Amazon.com, Inc. | −$0M |
| BA The Boeing Company | −$0M |
| GILD Gilead Sciences, Inc. | −$4M |
| VRT Vertiv Holdings Co | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $773M | 863 | +21.53% | +17.59% | +3.94% | +0.06B |
| 2025-12-31 | $722M | 904 | +17.49% | +17.72% | -0.23% | +0.06B |
| 2025-09-30 | $646M | 838 | +15.78% | +17.52% | -1.74% | -0.02B |
| 2025-06-30 | $613M | 810 | +14.33% | +14.94% | -0.61% | +0.00B |
| 2025-03-31 | $554M | 811 | +7.19% | +8.30% | -1.11% | +0.02B |
| 2024-12-31 | $557M | 767 | +18.90% | +24.89% | -5.99% | -0.00B |
| 2024-09-30 | $554M | 731 | +31.16% | +36.04% | -4.87% | -0.17B |
| 2024-06-30 | $674M | 1163 | +17.64% | +24.49% | -6.85% | -0.01B |
| 2024-03-31 | $662M | 1201 | +21.30% | +29.62% | -8.33% | -0.01B |
| 2023-12-31 | $630M | 1180 | +18.61% | +26.18% | -7.56% | -0.01B |
| 2023-09-30 | $572M | 1051 | +17.20% | +21.57% | -4.36% | +0.00B |
| 2023-06-30 | $594M | 929 | +17.29% | +19.42% | -2.14% | -0.01B |
| 2023-03-31 | $568M | 871 | -4.70% | -7.82% | +3.12% | -0.01B |
| 2022-12-31 | $557M | 826 | -12.57% | -18.17% | +5.60% | +0.03B |
| 2022-09-30 | $479M | 892 | -12.03% | -15.51% | +3.48% | +0.03B |
| 2022-06-30 | $473M | 875 | -7.69% | -10.62% | +2.93% | +0.02B |