Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+2.98%
adds when stocks drop
when a holding falls −10%+
Middle response
+2.30%
steady accumulation
Rally response
+4.58%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| VOOVanguard S&P 500 ETF | $989M | 9.2% | — | 9.3 yr |
| PCARPACCAR Inc | $563M | 5.2% | +21.7% | 5.0 yr |
| MSFTMicrosoft Corporation | $337M | 3.1% | -0.6% | 9.5 yr |
| AAPLApple Inc. | $292M | 2.7% | +14.7% | 9.5 yr |
| IVViShares Core S&P 500 ETF | $286M | 2.6% | — | 9.5 yr |
| IDEViShares Core MSCI Intern | $255M | 2.4% | — | 1.0 yr |
| IWFiShares Russell 1000 Gro | $230M | 2.1% | — | 9.5 yr |
| VOVanguard Mid-Cap ETF | $204M | 1.9% | — | 9.5 yr |
| AMZNAmazon.com, Inc. | $193M | 1.8% | +9.5% | 9.5 yr |
| DIHPDimensional - Internatio | $178M | 1.6% | — | 0.3 yr |
| VTIVanguard Total Stock Mar | $174M | 1.6% | — | 9.5 yr |
| SPYState Street SPDR S&P 50 | $164M | 1.5% | +17.6% | 9.5 yr |
| VTVVanguard Value ETF | $147M | 1.4% | — | 5.5 yr |
| SPDWState Street SPDR Portfo | $142M | 1.3% | — | 3.3 yr |
| VBVanguard Small-Cap ETF | $138M | 1.3% | — | 8.8 yr |
Portfolio composition (YoY)
Industry mix
Asset Management54.3%-0.2pp$5.86B
Industrial - Machinery5.9%+5.1pp$639M
Software - Infrastructure3.9%+0.9pp$426M
Asset Management - Bonds3.8%-0.9pp$414M
Semiconductors2.9%+1.1pp$311M
Consumer Electronics2.7%-0.7pp$294M
Internet Content & Information2.2%+0.7pp$235M
Specialty Retail2.1%+0.6pp$229M
Drug Manufacturers - General2.0%-0.2pp$213M
Banks - Diversified1.2%-0.1pp$126M
Country
US98.2%-0.3pp
IE0.5%-0.0pp
Unknown0.4%+0.2pp
CA0.2%-0.0pp
GB0.2%+0.0pp
UY0.1%+0.1pp
CH0.1%-0.0pp
TW0.1%+0.0pp
Top 5: 22.8% · Top 10: 32.7% · Top 25: 49.7%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| NVDA | $53M | +0.03B | 60.9% |
| AAPL | $214M | +0.03B | 14.7% |
| GOOG | $32M | +0.03B | 84.3% |
| JPM | $62M | +0.01B | 21.8% |
| SPY | $70M | +0.01B | 17.6% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| MSFT | $116M | -0.00B | -0.6% |
Top buys this quarter · 15
| PCAR PACCAR Inc | +$562M |
| MSFT Microsoft Corporation | +$215M |
| AMZN Amazon.com, Inc. | +$114M |
| SPY State Street SPDR S&P 500 ETF | +$74M |
| SBUX Starbucks Corporation | +$69M |
| AAPL Apple Inc. | +$41M |
| NVDA NVIDIA Corporation | +$41M |
| CINF Cincinnati Financial Corporati | +$24M |
| MIAX Miami International Holdings, new | +$20M |
| AMD Advanced Micro Devices, Inc. | +$18M |
Top sells this quarter · 15
| ULTA Ulta Beauty, Inc. | −$16M |
| STX Seagate Technology Holdings pl | −$15M |
| ORCL Oracle Corporation | −$11M |
| NOW ServiceNow, Inc. | −$8M |
| CSGP CoStar Group, Inc. | −$6M |
| CAT Caterpillar Inc. | −$58M |
| SMCI Super Micro Computer, Inc. | −$6M |
| NSC Norfolk Southern Corporation | −$4M |
| ADBE Adobe Inc. | −$3M |
| ZM Zoom Communications, Inc. | −$2M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $10.80B | 2220 | +15.11% | +17.59% | -2.48% | +3.28B |
| 2025-12-31 | $7.79B | 2711 | +16.50% | +17.72% | -1.22% | +0.92B |
| 2025-09-30 | $6.74B | 3064 | +15.91% | +17.52% | -1.60% | -0.82B |
| 2025-06-30 | $7.02B | 2723 | +15.49% | +14.94% | +0.55% | +0.11B |
| 2025-03-31 | $6.36B | 2183 | +8.13% | +8.30% | -0.18% | +0.01B |
| 2024-12-31 | $6.50B | 2077 | +19.56% | +24.89% | -5.33% | -0.03B |
| 2024-09-30 | $6.44B | 2025 | +31.82% | +36.04% | -4.21% | +0.15B |
| 2024-06-30 | $5.86B | 2012 | +18.00% | +24.49% | -6.49% | +3.81B |
| 2024-03-31 | $2.02B | 1533 | +25.23% | +29.62% | -4.39% | -0.01B |
| 2023-12-31 | $1.88B | 1502 | +22.96% | +26.18% | -3.22% | -0.00B |
| 2023-09-30 | $1.69B | 1512 | +18.75% | +21.57% | -2.82% | +0.10B |
| 2023-06-30 | $1.65B | 1365 | +17.67% | +19.42% | -1.75% | +0.17B |
| 2023-03-31 | $1.37B | 1363 | -5.63% | -7.82% | +2.19% | +0.02B |
| 2022-12-31 | $1.28B | 1305 | -15.09% | -18.17% | +3.08% | +0.10B |
| 2022-09-30 | $1.09B | 1228 | -12.63% | -15.51% | +2.88% | -0.14B |
| 2022-06-30 | $1.28B | 1255 | -7.83% | -10.62% | +2.79% | +0.01B |