Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-20.23%
trims when stocks drop
when a holding falls −10%+
Middle response
-16.20%
baseline attrition
Rally response
-14.97%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| AAPLApple Inc. | $35M | 2.6% | +14.7% | 2.8 yr |
| SPYState Street SPDR S&P 50 | $32M | 2.4% | +17.6% | 2.8 yr |
| SPLGSPDR Portfolio S&P 500 E | $28M | 2.1% | — | 2.8 yr |
| VOOVanguard S&P 500 ETF | $23M | 1.7% | — | 2.8 yr |
| MSFTMicrosoft Corporation | $21M | 1.6% | -0.6% | 2.8 yr |
| NVDANVIDIA Corporation | $18M | 1.4% | +60.9% | 2.8 yr |
| GOOGLAlphabet Inc. | $16M | 1.2% | — | 2.8 yr |
| AMZNAmazon.com, Inc. | $16M | 1.2% | +9.5% | 2.8 yr |
| AVGOBroadcom Inc. | $15M | 1.1% | +86.0% | 2.8 yr |
| IVViShares Core S&P 500 ETF | $12M | 0.9% | — | 2.8 yr |
| JPMJPMorgan Chase & Co. | $12M | 0.9% | +21.8% | 2.8 yr |
| WMTWalmart Inc. | $11M | 0.8% | +42.8% | 2.8 yr |
| VEAVanguard FTSE Developed | $11M | 0.8% | — | 2.8 yr |
| NEENextEra Energy, Inc. | $10M | 0.8% | +34.9% | 2.8 yr |
| QQQInvesco QQQ Trust, Serie | $10M | 0.8% | — | 2.8 yr |
Portfolio composition (YoY)
Industry mix
Asset Management33.0%+7.7pp$439M
Asset Management - Bonds5.4%+2.5pp$72M
Semiconductors4.3%+1.6pp$58M
Regulated Electric3.5%-0.4pp$46M
Consumer Electronics2.7%+0.1pp$35M
Drug Manufacturers - General2.5%-0.3pp$33M
Internet Content & Information2.3%+0.9pp$31M
Software - Infrastructure2.3%-1.7pp$30M
Specialty Retail1.7%-0.1pp$22M
Aerospace & Defense1.6%+0.2pp$21M
Country
US92.8%+1.7pp
CA1.2%-3.1pp
IE0.9%+0.1pp
Unknown0.9%+0.5pp
CH0.7%-0.1pp
GB0.6%-0.3pp
FR0.5%+0.3pp
NL0.4%+0.1pp
Top 5: 10.4% · Top 10: 16.2% · Top 25: 26.3%
Top buys this quarter · 15
| SCHW The Charles Schwab Corporation | +$3M |
| MPC Marathon Petroleum Corporation | +$3M |
| IRM Iron Mountain Incorporated | +$2M |
| LITE Lumentum Holdings Inc. | +$2M |
| EXPE Expedia Group, Inc. | +$2M |
| SYK Stryker Corporation | +$2M |
| COHR Coherent, Inc. | +$2M |
| AMAT Applied Materials, Inc. | +$1M |
| TEL TE Connectivity Ltd. | +$1M |
| FFIV F5, Inc. | +$1M |
Top sells this quarter · 15
| MU Micron Technology, Inc. | −$3M |
| EQT EQT Corporation | −$3M |
| ORCL Oracle Corporation | −$2M |
| CCI Crown Castle Inc. | −$2M |
| CCJ Cameco Corporation | −$2M |
| NHI National Health Investors, Inc | −$2M |
| AMZN Amazon.com, Inc. | −$1M |
| GLW Corning Incorporated | −$4M |
| PPL PPL Corporation | −$1M |
| SPY State Street SPDR S&P 500 ETF | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.33B | 2545 | +18.84% | +17.59% | +1.24% | -0.00B |
| 2025-12-31 | $1.33B | 2682 | +15.00% | +17.72% | -2.72% | +0.02B |
| 2025-09-30 | $1.30B | 2670 | +14.93% | +17.52% | -2.58% | -0.02B |
| 2025-06-30 | $1.23B | 2442 | +16.76% | +14.94% | +1.81% | -0.06B |
| 2025-03-31 | $1.17B | 2113 | +7.53% | +8.30% | -0.78% | +1.17B |
| 2024-12-31 | $1M | 1238 | +18.11% | +24.89% | -6.78% | -1.20B |
| 2024-09-30 | $1.19B | 2108 | +31.05% | +36.04% | -4.99% | -0.01B |
| 2024-06-30 | $1.10B | 2073 | +0.77% | +4.38% | -3.61% | +0.03B |
| 2024-03-31 | $1.07B | 2143 | +6.46% | +10.39% | -3.93% | +0.01B |
| 2023-12-31 | $992M | 2102 | +11.70% | +11.64% | +0.06% | -0.02B |
| 2023-09-30 | $910M | 2101 | — | — | — | — |