Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-2.01%
trims when stocks drop
when a holding falls −10%+
Middle response
+8.73%
steady accumulation
Rally response
+0.94%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| AGGiShares Core U.S. Aggreg | $3.91B | 6.1% | — | 7.3 yr |
| VOOVanguard S&P 500 ETF | $3.14B | 4.9% | — | 7.3 yr |
| DFACDimensional - US Core Eq | $2.73B | 4.3% | — | 5.0 yr |
| VEAVanguard FTSE Developed | $2.29B | 3.6% | — | 7.3 yr |
| DFUVDimensional - US Marketw | $2.05B | 3.2% | — | 4.0 yr |
| MTUMiShares MSCI USA Momentu | $2.01B | 3.1% | — | 7.3 yr |
| DUHPDimensional - US High Pr | $1.79B | 2.8% | — | 3.8 yr |
| BNDXVanguard Total Internati | $1.74B | 2.7% | — | 7.3 yr |
| AAPLApple Inc. | $1.68B | 2.6% | +14.7% | 6.0 yr |
| DFICDimensional - Internatio | $1.37B | 2.1% | — | 3.5 yr |
| NVDANVIDIA Corporation | $1.22B | 1.9% | +60.9% | 7.0 yr |
| DFIVDimensional - Internatio | $1.17B | 1.8% | — | 4.8 yr |
| IMTMiShares MSCI Intl Moment | $1.15B | 1.8% | — | 7.3 yr |
| DIHPDimensional - Internatio | $1.04B | 1.6% | — | 3.8 yr |
| MUBiShares National Muni Bo | $993M | 1.6% | — | 7.3 yr |
Portfolio composition (YoY)
Industry mix
Asset Management62.8%-2.1pp$40.14B
Asset Management - Bonds7.4%-0.3pp$4.74B
Semiconductors4.0%+1.4pp$2.55B
Consumer Electronics2.6%-0.1pp$1.69B
Internet Content & Information1.9%+0.4pp$1.20B
Software - Infrastructure1.6%-0.1pp$1.03B
Drug Manufacturers - General1.3%+0.1pp$800M
Specialty Retail1.0%+0.0pp$618M
Banks - Diversified0.9%+0.1pp$566M
Oil & Gas Integrated0.7%+0.2pp$440M
Country
US98.0%-0.1pp
IE0.4%-0.0pp
Unknown0.3%+0.1pp
GB0.3%+0.0pp
CA0.1%+0.1pp
CH0.1%-0.0pp
LU0.1%-0.1pp
TW0.1%+0.0pp
Top 5: 22.1% · Top 10: 35.5% · Top 25: 55.8%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| NVDA | $544M | +0.36B | 60.9% |
| AAPL | $1.12B | +0.17B | 14.7% |
| GOOG | $162M | +0.14B | 84.3% |
| AVGO | $130M | +0.11B | 86.0% |
| AMZN | $311M | +0.03B | 9.5% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| MSFT | $534M | -0.00B | -0.6% |
Top buys this quarter · 15
| NVDA NVIDIA Corporation | +$206M |
| GOOG Alphabet Inc. | +$56M |
| LLY Eli Lilly and Company | +$37M |
| KTOS Kratos Defense & Security Solu | +$34M |
| PNC The PNC Financial Services Gro | +$25M |
| TSLA Tesla, Inc. | +$217M |
| COST Costco Wholesale Corporation | +$23M |
| JPM JPMorgan Chase & Co. | +$246M |
| AMZN Amazon.com, Inc. | +$461M |
| AVGO Broadcom Inc. | +$364M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $63.93B | 3200 | +23.22% | +17.59% | +5.62% | +3.31B |
| 2025-12-31 | $62.12B | 2818 | +20.87% | +17.72% | +3.15% | +4.00B |
| 2025-09-30 | $56.82B | 2618 | +22.22% | +17.52% | +4.71% | +9.44B |
| 2025-06-30 | $41.81B | 2203 | +14.00% | +14.94% | -0.94% | -2.92B |
| 2025-03-31 | $41.06B | 2133 | +5.58% | +8.30% | -2.72% | +4.01B |
| 2024-12-31 | $38.71B | 2097 | +19.13% | +24.89% | -5.75% | -2.73B |
| 2024-09-30 | $40.06B | 1921 | +28.16% | +36.04% | -7.88% | +3.47B |
| 2024-06-30 | $34.61B | 1894 | +15.71% | +24.49% | -8.78% | +1.00B |
| 2024-03-31 | $33.32B | 1898 | +23.15% | +29.62% | -6.47% | -0.80B |
| 2023-12-31 | $31.58B | 1971 | +21.47% | +26.18% | -4.70% | +3.89B |
| 2023-09-30 | $24.89B | 1938 | +16.83% | +21.57% | -4.74% | +2.12B |
| 2023-06-30 | $23.85B | 1896 | +18.66% | +19.42% | -0.77% | +1.34B |
| 2023-03-31 | $20.96B | 1916 | -6.05% | -7.82% | +1.77% | +0.72B |
| 2022-12-31 | $19.00B | 1914 | -15.88% | -18.17% | +2.29% | +1.88B |
| 2022-09-30 | $16.00B | 1806 | -12.70% | -15.51% | +2.81% | +1.05B |
| 2022-06-30 | $15.42B | 1804 | -9.44% | -10.62% | +1.18% | +1.66B |