Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-4.75%
trims when stocks drop
when a holding falls −10%+
Middle response
-0.77%
baseline attrition
Rally response
-2.57%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| SMTHALPS Funds Smith Core Pl | $132M | 9.0% | — | 1.5 yr |
| IBDUiShares iBonds Dec 2029 | $93M | 6.3% | — | 1.3 yr |
| GLWCorning Incorporated | $83M | 5.6% | +201.5% | 10.5 yr |
| DCMBDoubleline Etf Trust - C | $80M | 5.4% | — | 1.5 yr |
| IVViShares Core S&P 500 ETF | $56M | 3.8% | — | 3.3 yr |
| AAPLApple Inc. | $50M | 3.4% | +14.7% | 10.5 yr |
| LLYEli Lilly and Company | $41M | 2.8% | +12.2% | 10.5 yr |
| MSFTMicrosoft Corporation | $41M | 2.8% | -0.6% | 10.5 yr |
| GDXVanEck Gold Miners ETF | $36M | 2.5% | — | 5.5 yr |
| VOVanguard Mid-Cap ETF | $36M | 2.4% | — | 5.0 yr |
| JPMJPMorgan Chase & Co. | $34M | 2.3% | +21.8% | 10.5 yr |
| BRK-BBerkshire Hathaway Inc. | $33M | 2.3% | — | 10.5 yr |
| IBDRiShares iBonds Dec 2026 | $30M | 2.1% | — | 4.0 yr |
| RSPInvesco S&P 500 Equal We | $30M | 2.0% | — | 8.0 yr |
| TMOThermo Fisher Scientific | $28M | 1.9% | -0.9% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management31.6%+4.8pp$464M
Asset Management - Bonds22.1%-0.1pp$324M
Hardware, Equipment & Parts7.3%+3.3pp$107M
Drug Manufacturers - General4.3%-0.3pp$63M
Semiconductors4.2%-1.1pp$61M
Consumer Electronics3.4%+0.0pp$50M
Software - Infrastructure3.1%-0.3pp$45M
Banks - Diversified2.5%-0.0pp$37M
Insurance - Diversified2.5%-0.1pp$36M
Medical - Diagnostics & Research2.0%-0.4pp$29M
Country
US97.9%+1.8pp
IE1.1%-0.6pp
CA0.4%-0.8pp
Unknown0.4%+0.2pp
GB0.1%-0.6pp
NL0.1%+0.0pp
CN0.0%-0.0pp
JP0.0%-0.0pp
Top 5: 30.1% · Top 10: 44.1% · Top 25: 69.1%
Top buys this quarter · 15
| PANW Palo Alto Networks, Inc. | +$4M |
| AAPL Apple Inc. | +$50M |
| MSFT Microsoft Corporation | +$41M |
| AVY Avery Dennison Corporation | +$21M |
| P Everpure, Inc. | +$1M |
| ALK Alaska Air Group, Inc. | +$1M |
| GE GE Aerospace | +$0M |
| ACHR Archer Aviation Inc.new | +$0M |
| QCOM QUALCOMM Incorporated | +$20M |
| EXPE Expedia Group, Inc. | +$0M |
Top sells this quarter · 15
| GLW Corning Incorporated | −$64M |
| AON Aon plcexit | −$3M |
| REGN Regeneron Pharmaceuticals, Inc | −$2M |
| COHR Coherent, Inc. | −$19M |
| WBD Warner Bros. Discovery, Inc.exit | −$1M |
| JNJ Johnson & Johnson | −$1M |
| SPY State Street SPDR S&P 500 ETF | −$1M |
| TPL Texas Pacific Land Corporation | −$1M |
| DIS The Walt Disney Company | −$0M |
| CRM Salesforce, Inc. | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.47B | 303 | +28.20% | +17.59% | +10.61% | -0.02B |
| 2025-12-31 | $1.48B | 298 | +23.13% | +17.72% | +5.41% | +0.18B |
| 2025-09-30 | $1.22B | 309 | +12.43% | +17.52% | -5.08% | -0.14B |
| 2025-06-30 | $1.24B | 306 | +7.42% | +14.94% | -7.52% | -0.14B |
| 2025-03-31 | $1.27B | 309 | +2.53% | +8.30% | -5.77% | +0.02B |
| 2024-12-31 | $1.28B | 292 | +14.60% | +24.89% | -10.29% | +0.09B |
| 2024-09-30 | $1.22B | 306 | +26.97% | +36.04% | -9.07% | -0.06B |
| 2024-06-30 | $1.22B | 307 | +14.31% | +24.49% | -10.18% | -0.02B |
| 2024-03-31 | $1.20B | 308 | +15.46% | +29.62% | -14.16% | +0.08B |
| 2023-12-31 | $1.04B | 300 | +13.33% | +26.18% | -12.85% | -0.09B |
| 2023-09-30 | $1.04B | 302 | +14.49% | +21.57% | -7.08% | +0.03B |
| 2023-06-30 | $1.08B | 310 | +15.53% | +19.42% | -3.89% | -0.03B |
| 2023-03-31 | $1.07B | 315 | -5.86% | -7.82% | +1.96% | -0.18B |
| 2022-12-31 | $1.17B | 336 | -15.49% | -18.17% | +2.68% | +0.09B |
| 2022-09-30 | $990M | 329 | -14.35% | -15.51% | +1.16% | -0.10B |
| 2022-06-30 | $1.14B | 318 | -9.36% | -10.62% | +1.26% | +0.05B |