Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-18.71%
trims when stocks drop
when a holding falls −10%+
Middle response
-6.66%
baseline attrition
Rally response
-6.95%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $981M | 4.4% | +60.9% | 3.5 yr |
| GOOGLAlphabet Inc. | $782M | 3.5% | — | 3.5 yr |
| AMZNAmazon.com, Inc. | $651M | 2.9% | +9.5% | 3.5 yr |
| LINLinde plc | $449M | 2.0% | +7.9% | 3.3 yr |
| RYRoyal Bank of Canada | $440M | 2.0% | +48.2% | 3.5 yr |
| ABBVAbbVie Inc. | $424M | 1.9% | +7.3% | 3.5 yr |
| AVGOBroadcom Inc. | $412M | 1.8% | +86.0% | 3.5 yr |
| WMTWalmart Inc. | $411M | 1.8% | +42.8% | 3.5 yr |
| METAMeta Platforms, Inc. | $358M | 1.6% | -0.4% | 3.3 yr |
| VLOValero Energy Corporatio | $356M | 1.6% | +92.6% | 3.5 yr |
| GLWCorning Incorporated | $319M | 1.4% | +201.5% | 2.8 yr |
| AMATApplied Materials, Inc. | $297M | 1.3% | +137.6% | 2.3 yr |
| LHXL3Harris Technologies, I | $295M | 1.3% | +67.7% | 1.5 yr |
| TDThe Toronto-Dominion Ban | $291M | 1.3% | +60.9% | 3.5 yr |
| XLKState Street Technology | $287M | 1.3% | — | 3.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management12.2%-3.4pp$2.72B
Semiconductors9.5%+3.3pp$2.12B
Banks - Diversified5.5%+0.6pp$1.22B
Internet Content & Information5.3%-0.4pp$1.18B
Drug Manufacturers - General4.0%+0.1pp$895M
Aerospace & Defense4.0%+1.5pp$895M
Hardware, Equipment & Parts3.3%+2.7pp$727M
Specialty Retail3.2%-1.7pp$707M
Oil & Gas Midstream2.8%+0.0pp$616M
Chemicals - Specialty2.5%+1.3pp$557M
Country
US76.9%+0.3pp
CA14.7%+2.2pp
GB2.8%+1.7pp
Unknown2.1%-0.6pp
IE0.9%-2.2pp
TW0.7%
BM0.5%-0.3pp
BR0.5%+0.4pp
Top 5: 14.8% · Top 10: 23.6% · Top 25: 41.6%
Top buys this quarter · 15
| LIN Linde plc | +$352M |
| TRGP Targa Resources Corp. | +$225M |
| SCCO Southern Copper Corporation | +$208M |
| COHR Coherent, Inc. | +$203M |
| CAT Caterpillar Inc. | +$200M |
| GEV GE Vernova Inc. | +$198M |
| SLB SLB N.V. | +$185M |
| LYB LyondellBasell Industries N.V. | +$183M |
| LLY Eli Lilly and Company | +$171M |
| FTI TechnipFMC plc | +$162M |
Top sells this quarter · 15
| AAPL Apple Inc. | −$677M |
| DHR Danaher Corporation | −$371M |
| BAC Bank of America Corporation | −$246M |
| LHX L3Harris Technologies, Inc. | −$239M |
| CRWD CrowdStrike Holdings, Inc. | −$237M |
| GS The Goldman Sachs Group, Inc. | −$221M |
| AVGO Broadcom Inc. | −$204M |
| ULTA Ulta Beauty, Inc. | −$183M |
| PHM PulteGroup, Inc. | −$160M |
| FUTU Futu Holdings Limitedexit | −$115M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $22.31B | 635 | +27.28% | +17.59% | +9.69% | -0.69B |
| 2025-12-31 | $23.05B | 643 | +24.82% | +17.72% | +7.10% | +0.08B |
| 2025-09-30 | $22.73B | 639 | +25.60% | +17.52% | +8.08% | -1.12B |
| 2025-06-30 | $22.05B | 624 | +25.80% | +14.94% | +10.86% | -0.05B |
| 2025-03-31 | $18.94B | 654 | +8.45% | +8.30% | +0.15% | -0.73B |
| 2024-12-31 | $20.11B | 683 | +20.70% | +24.89% | -4.19% | +0.03B |
| 2024-09-30 | $19.75B | 663 | +32.19% | +36.04% | -3.85% | +0.23B |
| 2024-06-30 | $18.02B | 672 | +17.97% | +24.49% | -6.52% | -0.14B |
| 2024-03-31 | $18.04B | 693 | +20.69% | +29.62% | -8.93% | -0.43B |
| 2023-12-31 | $16.97B | 705 | +14.45% | +26.18% | -11.73% | +1.28B |
| 2023-09-30 | $14.09B | 718 | -3.32% | -3.22% | -0.10% | +0.76B |
| 2023-06-30 | $13.78B | 647 | +2.93% | +8.68% | -5.75% | -1.22B |
| 2023-03-31 | $14.58B | 732 | +3.25% | +7.46% | -4.20% | +0.37B |
| 2022-12-31 | $13.76B | 737 | — | — | — | — |