Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-6.49%
trims when stocks drop
when a holding falls −10%+
Middle response
+2.45%
steady accumulation
Rally response
-1.40%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| IVViShares Core S&P 500 ETF | $4.57B | 6.2% | — | 10.5 yr |
| SPYState Street SPDR S&P 50 | $2.05B | 2.8% | +17.6% | 10.5 yr |
| NVDANVIDIA Corporation | $1.76B | 2.4% | +60.9% | 8.5 yr |
| AAPLApple Inc. | $1.74B | 2.4% | +14.7% | 10.5 yr |
| IEFAiShares Core MSCI EAFE E | $1.73B | 2.3% | — | 7.8 yr |
| GOVTiShares U.S. Treasury Bo | $1.72B | 2.3% | — | 6.8 yr |
| MSFTMicrosoft Corporation | $1.58B | 2.1% | -0.6% | 10.5 yr |
| KOThe Coca-Cola Company | $1.13B | 1.5% | +9.3% | 10.5 yr |
| GOOGAlphabet Inc. | $1.08B | 1.5% | +84.3% | 10.5 yr |
| JPMJPMorgan Chase & Co. | $914M | 1.2% | +21.8% | 10.5 yr |
| AMZNAmazon.com, Inc. | $887M | 1.2% | +9.5% | 10.5 yr |
| AVGOBroadcom Inc. | $881M | 1.2% | +86.0% | 8.0 yr |
| IWFiShares Russell 1000 Gro | $871M | 1.2% | — | 10.5 yr |
| IEMGiShares Core MSCI Emergi | $802M | 1.1% | — | 10.5 yr |
| AGGiShares Core U.S. Aggreg | $746M | 1.0% | — | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management46.3%+0.5pp$34.15B
Semiconductors6.2%+2.2pp$4.53B
Asset Management - Bonds3.4%+0.0pp$2.52B
Internet Content & Information3.2%+0.8pp$2.36B
Drug Manufacturers - General3.1%+0.3pp$2.31B
Software - Infrastructure3.1%-0.4pp$2.29B
Beverages - Non-Alcoholic2.5%+0.2pp$1.81B
Consumer Electronics2.4%-0.1pp$1.75B
Banks - Diversified1.9%+0.1pp$1.42B
Specialty Retail1.9%-0.1pp$1.37B
Country
US95.9%-1.0pp
GB1.1%+0.6pp
IE1.1%-0.0pp
Unknown0.4%+0.2pp
CH0.3%+0.0pp
CA0.3%-0.0pp
TW0.3%+0.2pp
BR0.2%+0.2pp
Top 5: 16.1% · Top 10: 24.8% · Top 25: 38.8%
Top buys this quarter · 15
| AZN AstraZeneca PLCnew | +$149M |
| ADI Analog Devices, Inc. | +$122M |
| DVN Devon Energy Corporation | +$74M |
| TGT Target Corporation | +$58M |
| FOXA Fox Corporation | +$46M |
| CSCO Cisco Systems, Inc. | +$45M |
| TSM Taiwan Semiconductor Manufactu | +$43M |
| GOOG Alphabet Inc. | +$1.08B |
| ETN Eaton Corporation plc | +$37M |
| JBL Jabil Inc. | +$31M |
Top sells this quarter · 15
| IBM International Business Machine | −$67M |
| TMUS T-Mobile US, Inc. | −$67M |
| EPD Enterprise Products Partners L | −$58M |
| META Meta Platforms, Inc. | −$44M |
| PANW Palo Alto Networks, Inc. | −$41M |
| AVGO Broadcom Inc. | −$36M |
| NOW ServiceNow, Inc. | −$32M |
| CTRA Coterra Energy Inc. | −$32M |
| AMZN Amazon.com, Inc. | −$29M |
| XOM Exxon Mobil Corporation | −$260M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $73.72B | 2705 | +17.07% | +17.59% | -0.52% | +0.98B |
| 2025-12-31 | $74.52B | 2671 | +16.76% | +17.72% | -0.96% | -0.59B |
| 2025-09-30 | $73.50B | 2613 | +15.21% | +17.52% | -2.31% | +0.92B |
| 2025-06-30 | $67.89B | 2500 | +15.05% | +14.94% | +0.11% | -0.38B |
| 2025-03-31 | $62.18B | 2464 | +5.98% | +8.30% | -2.32% | +0.34B |
| 2024-12-31 | $63.53B | 2459 | +18.28% | +24.89% | -6.61% | -0.40B |
| 2024-09-30 | $63.40B | 2459 | +30.53% | +36.04% | -5.51% | -6.43B |
| 2024-06-30 | $65.41B | 2596 | +17.75% | +24.49% | -6.75% | -1.10B |
| 2024-03-31 | $65.77B | 2578 | +22.65% | +29.62% | -6.98% | -2.27B |
| 2023-12-31 | $62.63B | 2590 | +16.72% | +26.18% | -9.46% | -3.69B |
| 2023-09-30 | $59.59B | 2540 | +15.01% | +21.57% | -6.56% | +1.96B |
| 2023-06-30 | $59.85B | 2521 | +13.24% | +19.42% | -6.19% | -1.05B |
| 2023-03-31 | $57.81B | 2514 | -6.90% | -7.82% | +0.92% | -0.55B |
| 2022-12-31 | $56.45B | 2510 | -14.10% | -18.17% | +4.07% | -0.32B |
| 2022-09-30 | $51.78B | 2464 | -13.00% | -15.51% | +2.51% | +0.49B |
| 2022-06-30 | $54.09B | 2586 | -7.72% | -10.62% | +2.90% | -0.42B |