Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-10.57%
trims when stocks drop
when a holding falls −10%+
Middle response
-2.81%
baseline attrition
Rally response
+3.73%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| UMBFUMB Financial Corporatio | $533M | 7.4% | +13.2% | 10.3 yr |
| IVViShares Core S&P 500 ETF | $471M | 6.6% | — | 10.3 yr |
| AAPLApple Inc. | $307M | 4.3% | +14.7% | 10.3 yr |
| NVDANVIDIA Corporation | $232M | 3.2% | +60.9% | 10.3 yr |
| GOOGLAlphabet Inc. | $207M | 2.9% | — | 10.3 yr |
| MSFTMicrosoft Corporation | $191M | 2.7% | -0.6% | 10.3 yr |
| AMZNAmazon.com, Inc. | $152M | 2.1% | +9.5% | 10.3 yr |
| AVGOBroadcom Inc. | $147M | 2.0% | +86.0% | 7.8 yr |
| JPMJPMorgan Chase & Co. | $129M | 1.8% | +21.8% | 10.3 yr |
| IEFAiShares Core MSCI EAFE E | $123M | 1.7% | — | 9.0 yr |
| IJHiShares Core S&P Mid-Cap | $119M | 1.7% | — | 10.3 yr |
| BRK-ABerkshire Hathaway Inc. | $104M | 1.5% | — | 4.5 yr |
| IWRiShares Russell Mid-Cap | $94M | 1.3% | — | 10.3 yr |
| JNJJohnson & Johnson | $90M | 1.3% | +51.5% | 10.3 yr |
| COSTCostco Wholesale Corpora | $88M | 1.2% | +5.9% | 10.3 yr |
Portfolio composition (YoY)
Industry mix
Asset Management29.1%+4.4pp$2.08B
Banks - Regional8.0%+0.0pp$576M
Semiconductors6.9%+2.1pp$490M
Internet Content & Information4.4%+0.7pp$315M
Consumer Electronics4.3%-0.5pp$308M
Software - Infrastructure3.6%-0.7pp$257M
Drug Manufacturers - General3.5%-0.2pp$250M
Specialty Retail2.8%-0.3pp$201M
Banks - Diversified2.8%+0.3pp$200M
Insurance - Diversified2.6%-1.6pp$184M
Country
US97.5%+0.5pp
IE1.1%-0.0pp
GB0.7%-0.0pp
Unknown0.2%-0.5pp
NL0.1%+0.1pp
CH0.1%+0.0pp
CA0.1%+0.0pp
TW0.0%+0.0pp
Top 5: 24.4% · Top 10: 34.8% · Top 25: 52.3%
Top buys this quarter · 15
| NOW ServiceNow, Inc. | +$14M |
| CMG Chipotle Mexican Grill, Inc. | +$13M |
| IDXX IDEXX Laboratories, Inc. | +$11M |
| AMZN Amazon.com, Inc. | +$152M |
| ROL Rollins, Inc. | +$6M |
| PSA Public Storage | +$6M |
| NKE NIKE, Inc. | +$6M |
| PANW Palo Alto Networks, Inc. | +$5M |
| REPX Riley Exploration Permian, Incnew | +$5M |
| CDNS Cadence Design Systems, Inc. | +$5M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $7.16B | 2276 | +13.90% | +17.59% | -3.69% | -0.13B |
| 2025-12-31 | $7.51B | 2271 | +12.43% | +17.72% | -5.29% | +0.68B |
| 2025-09-30 | $6.79B | 2146 | +15.22% | +17.52% | -2.30% | -0.13B |
| 2025-06-30 | $6.42B | 2192 | +16.06% | +14.94% | +1.12% | -0.15B |
| 2025-03-31 | $6.07B | 2099 | +8.83% | +8.30% | +0.53% | +0.02B |
| 2024-12-31 | $6.32B | 2057 | +23.00% | +24.89% | -1.89% | -0.30B |
| 2024-09-30 | $6.42B | 2128 | +36.11% | +36.04% | +0.07% | -0.20B |
| 2024-06-30 | $6.10B | 2123 | +22.12% | +24.49% | -2.37% | -0.31B |
| 2024-03-31 | $6.31B | 2135 | +27.16% | +29.62% | -2.46% | -1.09B |
| 2023-12-31 | $6.84B | 1599 | +17.80% | +26.18% | -8.37% | -0.26B |
| 2023-09-30 | $6.23B | 1681 | +11.81% | +21.57% | -9.76% | -0.19B |
| 2023-06-30 | $6.59B | 1671 | +10.22% | +19.42% | -9.20% | -0.02B |
| 2023-03-31 | $6.25B | 1685 | -9.44% | -7.82% | -1.62% | -0.09B |
| 2022-12-31 | $6.32B | 1687 | -13.79% | -18.17% | +4.38% | -0.09B |
| 2022-09-30 | $5.93B | 1722 | -11.56% | -15.51% | +3.95% | -0.24B |
| 2022-06-30 | $6.42B | 1880 | -7.42% | -10.62% | +3.20% | -0.14B |