Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-16.29%
trims when stocks drop
when a holding falls −10%+
Middle response
-3.41%
baseline attrition
Rally response
-9.83%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| VCSHVanguard Short-Term Corp | $1.00B | 10.7% | — | 0.3 yr |
| ITOTiShares Core S&P Total U | $761M | 8.1% | — | 10.0 yr |
| IGSBiShares 1-5 Year Investm | $261M | 2.8% | — | 8.5 yr |
| AAPLApple Inc. | $239M | 2.6% | +14.7% | 10.5 yr |
| MSFTMicrosoft Corporation | $235M | 2.5% | -0.6% | 10.5 yr |
| NVDANVIDIA Corporation | $234M | 2.5% | +60.9% | 8.0 yr |
| IGIBiShares 5-10 Year Invest | $230M | 2.5% | — | 10.0 yr |
| AMZNAmazon.com, Inc. | $205M | 2.2% | +9.5% | 10.5 yr |
| IWBiShares Russell 1000 ETF | $197M | 2.1% | — | 5.3 yr |
| MUBiShares National Muni Bo | $184M | 2.0% | — | 5.3 yr |
| HYGiShares iBoxx $ High Yie | $151M | 1.6% | — | 10.5 yr |
| AVGOBroadcom Inc. | $142M | 1.5% | +86.0% | 7.5 yr |
| IVViShares Core S&P 500 ETF | $134M | 1.4% | — | 10.0 yr |
| GOOGLAlphabet Inc. | $129M | 1.4% | — | 9.8 yr |
| METAMeta Platforms, Inc. | $128M | 1.4% | -0.4% | 10.3 yr |
Portfolio composition (YoY)
Industry mix
Asset Management19.2%-16.9pp$1.80B
Asset Management - Bonds18.4%+6.1pp$1.72B
Semiconductors6.9%+2.2pp$641M
Internet Content & Information4.0%+0.9pp$375M
Software - Infrastructure3.9%+0.2pp$367M
Drug Manufacturers - General3.0%+0.7pp$283M
Specialty Retail2.6%+0.5pp$244M
Consumer Electronics2.6%-0.8pp$241M
Banks - Diversified1.9%+0.4pp$174M
Software - Application1.9%-0.5pp$174M
Country
US97.7%-0.6pp
IE0.8%-0.0pp
GB0.5%+0.2pp
Unknown0.3%+0.1pp
CH0.2%+0.1pp
CA0.1%+0.0pp
SG0.1%
BM0.1%+0.1pp
Top 5: 26.7% · Top 10: 37.9% · Top 25: 54.7%
Top buys this quarter · 15
| AMZN Amazon.com, Inc. | +$53M |
| AVGO Broadcom Inc. | +$37M |
| MSFT Microsoft Corporation | +$235M |
| META Meta Platforms, Inc. | +$33M |
| TSLA Tesla, Inc. | +$28M |
| JPM JPMorgan Chase & Co. | +$21M |
| LLY Eli Lilly and Company | +$20M |
| XOM Exxon Mobil Corporation | +$17M |
| V Visa Inc. | +$16M |
| JNJ Johnson & Johnson | +$15M |
Top sells this quarter · 15
| SPY State Street SPDR S&P 500 ETF | −$549M |
| NVDA NVIDIA Corporation | −$89M |
| AAPL Apple Inc. | −$48M |
| DIS The Walt Disney Company | −$10M |
| BLK BlackRock, Inc. | −$9M |
| SEE Sealed Air Corporation | −$9M |
| AMG Affiliated Managers Group, Inc | −$7M |
| COF Capital One Financial Corporat | −$7M |
| AXP American Express Company | −$6M |
| BANC Banc of California, Inc. | −$5M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $9.35B | 1124 | +22.05% | +17.59% | +4.46% | +2.36B |
| 2025-12-31 | $7.32B | 612 | +22.28% | +17.72% | +4.56% | +2.90B |
| 2025-09-30 | $4.38B | 597 | +39.84% | +17.52% | +22.32% | +2.80B |
| 2025-06-30 | $1.39B | 176 | +35.26% | +14.94% | +20.31% | -2.39B |
| 2025-03-31 | $3.40B | 577 | +26.37% | +8.30% | +18.06% | +0.15B |
| 2024-12-31 | $3.40B | 628 | +41.49% | +24.89% | +16.61% | +2.18B |
| 2024-09-30 | $1.05B | 106 | +40.62% | +36.04% | +4.59% | -0.31B |
| 2024-06-30 | $1.23B | 217 | +22.43% | +24.49% | -2.06% | -0.23B |
| 2024-03-31 | $1.41B | 225 | +26.38% | +29.62% | -3.25% | -0.14B |
| 2023-12-31 | $1.45B | 206 | +25.28% | +26.18% | -0.90% | -0.51B |
| 2023-09-30 | $1.71B | 204 | +15.93% | +21.57% | -5.63% | +0.20B |
| 2023-06-30 | $1.57B | 209 | +14.02% | +19.42% | -5.40% | +0.13B |
| 2023-03-31 | $1.35B | 202 | -9.14% | -7.82% | -1.33% | -2.15B |
| 2022-12-31 | $3.29B | 578 | -18.44% | -18.17% | -0.27% | -0.39B |
| 2022-09-30 | $3.47B | 576 | -14.55% | -15.51% | +0.96% | +0.40B |
| 2022-06-30 | $3.25B | 595 | -9.13% | -10.62% | +1.49% | +0.05B |