Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-1.40%
trims when stocks drop
when a holding falls −10%+
Middle response
-0.12%
baseline attrition
Rally response
+0.78%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| VINIXVanguard Institutional I | $197M | 7.0% | — | 10.3 yr |
| — | $89M | 3.1% | — | 6.3 yr |
| TRLGXT. Rowe Price Large-Cap | $80M | 2.8% | — | 8.5 yr |
| VFIAXVanguard 500 Index Fund | $76M | 2.7% | — | 10.3 yr |
| — | $72M | 2.5% | — | 7.8 yr |
| SVFYXSmead Value Fund Class Y | $71M | 2.5% | — | 5.8 yr |
| — | $71M | 2.5% | — | 3.5 yr |
| AAPLApple Inc. | $70M | 2.5% | +14.7% | 10.3 yr |
| — | $63M | 2.2% | — | 9.8 yr |
| NVDANVIDIA Corporation | $58M | 2.1% | +60.9% | 9.0 yr |
| — | $53M | 1.9% | — | 1.8 yr |
| VOOVanguard S&P 500 ETF | $48M | 1.7% | — | 5.3 yr |
| MSFTMicrosoft Corporation | $44M | 1.5% | -0.6% | 10.3 yr |
| VTMGXVanguard Developed Marke | $41M | 1.4% | — | 10.3 yr |
| GQGIXGQG Partners Emerging Ma | $40M | 1.4% | — | 6.3 yr |
Portfolio composition (YoY)
Industry mix
Asset Management45.3%+0.9pp$1.28B
Unknown16.8%-0.5pp$478M
Semiconductors4.5%+1.6pp$129M
Internet Content & Information2.7%+0.3pp$76M
Consumer Electronics2.5%-0.0pp$70M
Drug Manufacturers - General2.1%-0.2pp$59M
Software - Infrastructure2.0%-0.2pp$57M
Specialty Retail1.4%-0.2pp$40M
Banks - Regional1.4%-0.7pp$38M
Financial - Credit Services1.0%-0.3pp$29M
Country
US81.1%+0.3pp
Unknown16.8%-0.5pp
GB0.4%+0.1pp
IE0.4%+0.0pp
CA0.4%-0.0pp
FR0.3%+0.0pp
SG0.1%+0.1pp
CH0.1%-0.0pp
Top 5: 18.2% · Top 10: 29.9% · Top 25: 50.5%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| NVDA | $35M | +0.02B | 60.9% |
| AVGO | $15M | +0.01B | 86.0% |
| AAPL | $62M | +0.01B | 14.7% |
| AMZN | $28M | +0.00B | 9.5% |
| MSFT | $44M | -0.00B | -0.6% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| MSFT | $44M | -0.00B | -0.6% |
Top buys this quarter · 15
| AMT American Tower Corporation | +$2M |
| MRK Merck & Co., Inc. | +$2M |
| PAYX Paychex, Inc. | +$2M |
| AZN AstraZeneca PLCnew | +$1M |
| GEV GE Vernova Inc. | +$1M |
| KIM Kimco Realty Corporationnew | +$1M |
| WEC WEC Energy Group, Inc. | +$1M |
| NVT nVent Electric plc | +$1M |
| MDLZ Mondelez International, Inc. | +$1M |
| CVX Chevron Corporation | +$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $2.84B | 655 | +18.20% | +17.59% | +0.61% | +0.03B |
| 2025-12-31 | $2.89B | 667 | +16.35% | +17.72% | -1.37% | -0.03B |
| 2025-09-30 | $2.86B | 666 | +16.15% | +17.52% | -1.37% | -0.07B |
| 2025-06-30 | $2.71B | 665 | +14.05% | +14.94% | -0.89% | -0.02B |
| 2025-03-31 | $2.48B | 637 | +5.05% | +8.30% | -3.26% | -0.00B |
| 2024-12-31 | $2.59B | 664 | +18.95% | +24.89% | -5.93% | -0.08B |
| 2024-09-30 | $2.62B | 658 | +31.78% | +36.04% | -4.26% | -0.01B |
| 2024-06-30 | $2.47B | 629 | +19.87% | +24.49% | -4.62% | -0.00B |
| 2024-03-31 | $2.44B | 613 | +25.43% | +29.62% | -4.20% | +0.04B |
| 2023-12-31 | $2.22B | 596 | +21.46% | +26.18% | -4.71% | -0.05B |
| 2023-09-30 | $2.01B | 565 | +16.44% | +21.57% | -5.12% | +0.03B |
| 2023-06-30 | $2.04B | 558 | +14.52% | +19.42% | -4.90% | +0.02B |
| 2023-03-31 | $1.90B | 556 | -5.19% | -7.82% | +2.63% | +0.04B |
| 2022-12-31 | $1.78B | 522 | -13.66% | -18.17% | +4.52% | -0.04B |
| 2022-09-30 | $1.68B | 477 | -11.42% | -15.51% | +4.09% | -0.03B |
| 2022-06-30 | $1.79B | 483 | -6.41% | -10.62% | +4.21% | -0.08B |