Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-13.28%
trims when stocks drop
when a holding falls −10%+
Middle response
-10.24%
baseline attrition
Rally response
-7.03%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| VOOVanguard S&P 500 ETF | $453M | 22.4% | — | 10.0 yr |
| DFAXDimensional - World ex U | $286M | 14.2% | — | 4.8 yr |
| IWRiShares Russell Mid-Cap | $95M | 4.7% | — | 10.0 yr |
| VCRBVanguard Core Bond ETF | $73M | 3.6% | — | 0.8 yr |
| IXUSiShares Core MSCI Total | $73M | 3.6% | — | 4.0 yr |
| NVDANVIDIA Corporation | $59M | 2.9% | +60.9% | 7.5 yr |
| ALRSAlerus Financial Corpora | $53M | 2.6% | +32.1% | 6.5 yr |
| AAPLApple Inc. | $47M | 2.3% | +14.7% | 9.5 yr |
| MSFTMicrosoft Corporation | $39M | 1.9% | -0.6% | 10.0 yr |
| AVGOBroadcom Inc. | $36M | 1.8% | +86.0% | 7.8 yr |
| GOOGLAlphabet Inc. | $34M | 1.7% | — | 10.0 yr |
| VCLTVanguard Long-Term Corpo | $31M | 1.5% | — | 6.3 yr |
| AMZNAmazon.com, Inc. | $25M | 1.2% | +9.5% | 8.5 yr |
| VCSHVanguard Short-Term Corp | $22M | 1.1% | — | 0.5 yr |
| XOMExxon Mobil Corporation | $21M | 1.0% | +47.6% | 9.8 yr |
Portfolio composition (YoY)
Industry mix
Asset Management52.8%+15.7pp$1.07B
Semiconductors5.9%+0.0pp$120M
Banks - Regional3.3%-0.7pp$66M
Asset Management - Bonds3.2%-0.1pp$65M
Drug Manufacturers - General2.6%-0.4pp$52M
Internet Content & Information2.5%-0.3pp$50M
Software - Infrastructure2.4%-1.6pp$48M
Consumer Electronics2.3%-1.4pp$47M
Banks - Diversified1.8%-0.8pp$36M
Specialty Retail1.6%-0.9pp$32M
Country
US98.1%+1.4pp
IE0.8%-0.6pp
Unknown0.4%+0.3pp
CA0.3%-0.1pp
SG0.2%+0.1pp
GB0.1%-0.9pp
NL0.1%
CH0.0%-0.0pp
Top 5: 48.6% · Top 10: 60.2% · Top 25: 74.1%
Top buys this quarter · 15
| AMD Advanced Micro Devices, Inc. | +$2M |
| CSCO Cisco Systems, Inc. | +$2M |
| DOW Dow Inc. | +$2M |
| EOG EOG Resources, Inc. | +$2M |
| MRK Merck & Co., Inc. | +$2M |
| RTX RTX Corporation | +$2M |
| F-PD Ford Motor Company 6.500% Note | +$2M |
| PG The Procter & Gamble Company | +$1M |
| BAC Bank of America Corporation | +$1M |
| PLTR Palantir Technologies Inc. | +$1M |
Top sells this quarter · 15
| SO The Southern Company | −$4M |
| AIG American International Group, | −$3M |
| WELL Welltower Inc. | −$3M |
| VRT Vertiv Holdings Co | −$7M |
| DLR Digital Realty Trust, Inc. | −$2M |
| HPE Hewlett Packard Enterprise Com | −$2M |
| ETN Eaton Corporation plc | −$2M |
| ARM Arm Holdings plc American Depo | −$2M |
| LNT Alliant Energy Corporation | −$2M |
| PFG Principal Financial Group, Inc | −$2M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $2.02B | 509 | +21.60% | +17.59% | +4.00% | +0.04B |
| 2025-12-31 | $2.04B | 508 | +19.16% | +17.72% | +1.44% | +0.03B |
| 2025-09-30 | $1.97B | 532 | +18.94% | +17.52% | +1.43% | +0.46B |
| 2025-06-30 | $1.39B | 509 | +17.75% | +14.94% | +2.81% | -0.03B |
| 2025-03-31 | $1.25B | 160 | +7.01% | +8.30% | -1.29% | +0.01B |
| 2024-12-31 | $1.31B | 157 | +21.88% | +24.89% | -3.00% | -0.08B |
| 2024-09-30 | $1.36B | 157 | +34.83% | +36.04% | -1.21% | -0.07B |
| 2024-06-30 | $1.34B | 156 | +20.33% | +24.49% | -4.16% | -0.02B |
| 2024-03-31 | $1.32B | 161 | +22.60% | +29.62% | -7.02% | +0.00B |
| 2023-12-31 | $1.23B | 150 | +15.91% | +26.18% | -10.27% | -0.05B |
| 2023-09-30 | $1.13B | 152 | +9.28% | +21.57% | -12.29% | -0.00B |
| 2023-06-30 | $1.18B | 157 | +6.68% | +19.42% | -12.74% | +0.00B |
| 2023-03-31 | $1.12B | 163 | -13.54% | -7.82% | -5.72% | +0.01B |
| 2022-12-31 | $1.09B | 164 | -19.27% | -18.17% | -1.09% | +0.02B |
| 2022-09-30 | $1.01B | 150 | -15.78% | -15.51% | -0.27% | -0.01B |
| 2022-06-30 | $1.08B | 164 | -9.46% | -10.62% | +1.16% | +0.09B |