Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-4.14%
trims when stocks drop
when a holding falls −10%+
Middle response
+0.20%
steady accumulation
Rally response
+1.61%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| AAPLApple Inc. | $16.99B | 3.2% | +14.7% | 10.5 yr |
| NVDANVIDIA Corporation | $16.22B | 3.1% | +60.9% | 10.5 yr |
| MSFTMicrosoft Corporation | $13.72B | 2.6% | -0.6% | 10.5 yr |
| IVViShares Core S&P 500 ETF | $11.95B | 2.3% | — | 10.5 yr |
| RYRoyal Bank of Canada | $11.53B | 2.2% | +48.2% | 10.5 yr |
| TDThe Toronto-Dominion Ban | $10.69B | 2.0% | +60.9% | 10.5 yr |
| GOOGLAlphabet Inc. | $10.14B | 1.9% | — | 10.5 yr |
| AMZNAmazon.com, Inc. | $9.69B | 1.8% | +9.5% | 10.5 yr |
| AVGOBroadcom Inc. | $7.36B | 1.4% | +86.0% | 8.0 yr |
| BMOBank of Montreal | $7.12B | 1.4% | +47.5% | 10.5 yr |
| JPMJPMorgan Chase & Co. | $7.03B | 1.3% | +21.8% | 10.5 yr |
| GOOGAlphabet Inc. | $6.44B | 1.2% | +84.3% | 10.5 yr |
| CMCanadian Imperial Bank o | $6.28B | 1.2% | +73.0% | 10.5 yr |
| CNQCanadian Natural Resourc | $6.08B | 1.2% | +66.0% | 10.5 yr |
| TRPTC Energy Corporation | $5.58B | 1.1% | +37.4% | 7.0 yr |
Portfolio composition (YoY)
Industry mix
Asset Management17.6%+1.4pp$92.59B
Banks - Diversified10.2%+0.5pp$53.75B
Semiconductors6.9%+2.1pp$36.28B
Internet Content & Information4.2%+1.2pp$22.27B
Software - Infrastructure3.7%-0.4pp$19.48B
Drug Manufacturers - General3.3%+0.2pp$17.45B
Consumer Electronics3.3%+0.1pp$17.14B
Oil & Gas Midstream3.0%-0.1pp$15.56B
Oil & Gas Integrated2.5%+0.6pp$13.09B
Specialty Retail2.5%-0.6pp$12.95B
Country
US72.5%-1.1pp
CA21.0%+1.3pp
Unknown1.7%-0.3pp
GB1.1%+0.4pp
IE0.9%-0.3pp
BM0.5%+0.0pp
TW0.4%+0.2pp
CH0.3%-0.2pp
Top 5: 13.4% · Top 10: 21.9% · Top 25: 36.4%
Top buys this quarter · 15
| AZN AstraZeneca PLCnew | +$2.05B |
| COP ConocoPhillips | +$620M |
| CNQ Canadian Natural Resources Lim | +$586M |
| SUNB Sunbelt Rentals Holdings Incnew | +$465M |
| WM Waste Management, Inc. | +$465M |
| CTVA Corteva, Inc. | +$418M |
| MELI MercadoLibre, Inc. | +$410M |
| CSX CSX Corporation | +$386M |
| BMO Bank of Montreal | +$340M |
| SNOW Snowflake Inc. | +$330M |
Top sells this quarter · 15
| SPY State Street SPDR S&P 500 ETF | −$1.65B |
| NVDA NVIDIA Corporation | −$1.64B |
| META Meta Platforms, Inc. | −$956M |
| AAPL Apple Inc. | −$833M |
| GOOG Alphabet Inc. | −$823M |
| MFC Manulife Financial Corporation | −$750M |
| UNH UnitedHealth Group Incorporate | −$744M |
| BNS The Bank of Nova Scotia | −$686M |
| AMZN Amazon.com, Inc. | −$638M |
| TD The Toronto-Dominion Bank | −$629M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $526.36B | 6444 | +21.09% | +17.59% | +3.50% | -32.30B |
| 2025-12-31 | $567.58B | 6496 | +20.26% | +17.72% | +2.54% | -10.58B |
| 2025-09-30 | $560.51B | 6464 | +17.03% | +17.52% | -0.49% | +6.68B |
| 2025-06-30 | $512.69B | 6433 | +16.91% | +14.94% | +1.97% | +20.30B |
| 2025-03-31 | $445.97B | 6212 | +6.29% | +8.30% | -2.02% | -4.96B |
| 2024-12-31 | $461.31B | 6196 | +15.93% | +24.89% | -8.96% | +10.85B |
| 2024-09-30 | $448.75B | 6143 | +29.25% | +36.04% | -6.79% | +2.47B |
| 2024-06-30 | $413.55B | 6410 | +14.71% | +24.49% | -9.78% | +2.77B |
| 2024-03-31 | $409.25B | 6310 | +19.77% | +29.62% | -9.85% | -19.41B |
| 2023-12-31 | $402.05B | 6332 | +16.94% | +26.18% | -9.24% | +20.58B |
| 2023-09-30 | $340.86B | 6333 | +12.76% | +21.57% | -8.81% | -0.93B |
| 2023-06-30 | $356.86B | 6550 | +10.20% | +19.42% | -9.22% | +8.38B |
| 2023-03-31 | $332.52B | 6426 | -9.13% | -7.82% | -1.31% | -9.34B |
| 2022-12-31 | $328.40B | 6479 | -16.74% | -18.17% | +1.44% | +6.34B |
| 2022-09-30 | $298.46B | 6670 | -14.30% | -15.51% | +1.21% | -2.79B |
| 2022-06-30 | $321.82B | 6651 | -7.93% | -10.62% | +2.69% | -3.29B |