Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-5.42%
trims when stocks drop
when a holding falls −10%+
Middle response
-0.58%
baseline attrition
Rally response
-0.34%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| AAPLApple Inc. | $1.10B | 5.3% | +14.7% | 10.5 yr |
| NVDANVIDIA Corporation | $897M | 4.3% | +60.9% | 10.3 yr |
| MSFTMicrosoft Corporation | $800M | 3.9% | -0.6% | 10.5 yr |
| GOOGLAlphabet Inc. | $775M | 3.8% | — | 10.5 yr |
| AMZNAmazon.com, Inc. | $544M | 2.6% | +9.5% | 10.5 yr |
| AVGOBroadcom Inc. | $459M | 2.2% | +86.0% | 8.0 yr |
| JPMJPMorgan Chase & Co. | $397M | 1.9% | +21.8% | 10.5 yr |
| CBSHCommerce Bancshares, Inc | $345M | 1.7% | -19.4% | 10.5 yr |
| SPYState Street SPDR S&P 50 | $326M | 1.6% | +17.6% | 10.5 yr |
| IVViShares Core S&P 500 ETF | $306M | 1.5% | — | 10.5 yr |
| IWSiShares Russell Mid-Cap | $289M | 1.4% | — | 10.5 yr |
| XOMExxon Mobil Corporation | $283M | 1.4% | +47.6% | 10.5 yr |
| JNJJohnson & Johnson | $238M | 1.2% | +51.5% | 10.5 yr |
| METAMeta Platforms, Inc. | $237M | 1.1% | -0.4% | 10.5 yr |
| GOOGAlphabet Inc. | $226M | 1.1% | +84.3% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management22.3%+3.2pp$4.60B
Semiconductors8.0%+2.1pp$1.65B
Internet Content & Information6.0%+1.4pp$1.25B
Consumer Electronics5.3%-0.2pp$1.10B
Software - Infrastructure5.1%-1.1pp$1.06B
Drug Manufacturers - General4.2%-0.1pp$858M
Specialty Retail3.1%-0.3pp$635M
Banks - Diversified2.6%+0.1pp$544M
Aerospace & Defense2.2%+0.4pp$449M
Oil & Gas Integrated2.2%+0.3pp$444M
Country
US96.4%-0.6pp
IE1.3%+0.1pp
GB1.1%+0.6pp
CH0.3%-0.3pp
BM0.3%-0.0pp
CA0.2%+0.1pp
NL0.1%+0.1pp
TW0.1%+0.1pp
Top 5: 19.9% · Top 10: 28.8% · Top 25: 44.2%
Top buys this quarter · 15
| UPS United Parcel Service, Inc. | +$169M |
| SPY State Street SPDR S&P 500 ETF | +$163M |
| AAPL Apple Inc. | +$129M |
| MSFT Microsoft Corporation | +$800M |
| GOOG Alphabet Inc. | +$79M |
| AVGO Broadcom Inc. | +$76M |
| NVDA NVIDIA Corporation | +$74M |
| CBSH Commerce Bancshares, Inc. | +$66M |
| AMZN Amazon.com, Inc. | +$63M |
| JPM JPMorgan Chase & Co. | +$49M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $20.64B | 1308 | +14.40% | +17.59% | -3.20% | +3.19B |
| 2025-12-31 | $18.10B | 1239 | +14.33% | +17.72% | -3.39% | +0.01B |
| 2025-09-30 | $17.96B | 1229 | +15.68% | +17.52% | -1.83% | -0.20B |
| 2025-06-30 | $16.93B | 1187 | +14.74% | +14.94% | -0.20% | -0.25B |
| 2025-03-31 | $15.65B | 1172 | +6.11% | +8.30% | -2.19% | +0.03B |
| 2024-12-31 | $16.21B | 1174 | +18.95% | +24.89% | -5.94% | -0.41B |
| 2024-09-30 | $16.31B | 1214 | +30.08% | +36.04% | -5.95% | -0.11B |
| 2024-06-30 | $15.42B | 1192 | +17.04% | +24.49% | -7.45% | +0.08B |
| 2024-03-31 | $15.11B | 1191 | +22.03% | +29.62% | -7.59% | -0.06B |
| 2023-12-31 | $14.04B | 1176 | +17.41% | +26.18% | -8.76% | -0.09B |
| 2023-09-30 | $12.69B | 1142 | +14.19% | +21.57% | -7.38% | -0.10B |
| 2023-06-30 | $13.35B | 1153 | +14.03% | +19.42% | -5.40% | -0.14B |
| 2023-03-31 | $12.75B | 1161 | -5.98% | -7.82% | +1.83% | -0.03B |
| 2022-12-31 | $12.30B | 1125 | -13.72% | -18.17% | +4.46% | -0.16B |
| 2022-09-30 | $11.50B | 1133 | -11.58% | -15.51% | +3.93% | -0.23B |
| 2022-06-30 | $12.27B | 1138 | -7.00% | -10.62% | +3.62% | -0.47B |