Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-9.42%
trims when stocks drop
when a holding falls −10%+
Middle response
-6.87%
baseline attrition
Rally response
-15.22%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $2.56B | 2.2% | +60.9% | 10.0 yr |
| MSFTMicrosoft Corporation | $2.28B | 1.9% | -0.6% | 10.3 yr |
| AVGOBroadcom Inc. | $2.02B | 1.7% | +86.0% | 7.8 yr |
| GOOGLAlphabet Inc. | $1.97B | 1.7% | — | 10.3 yr |
| AAPLApple Inc. | $1.77B | 1.5% | +14.7% | 10.3 yr |
| TSLATesla, Inc. | $1.62B | 1.4% | +43.4% | 8.5 yr |
| BSXBoston Scientific Corpor | $1.53B | 1.3% | -37.8% | 10.3 yr |
| GOOGAlphabet Inc. | $1.43B | 1.2% | +84.3% | 10.3 yr |
| HDThe Home Depot, Inc. | $1.24B | 1.0% | -8.0% | 10.0 yr |
| MUMicron Technology, Inc. | $1.24B | 1.0% | +289.6% | 10.3 yr |
| METAMeta Platforms, Inc. | $1.08B | 0.9% | -0.4% | 10.3 yr |
| TSMTaiwan Semiconductor Man | $1.03B | 0.9% | +105.6% | 9.5 yr |
| JPMJPMorgan Chase & Co. | $1.02B | 0.9% | +21.8% | 10.3 yr |
| AMZNAmazon.com, Inc. | $985M | 0.8% | +9.5% | 10.3 yr |
| TGTTarget Corporation | $958M | 0.8% | +21.5% | 9.8 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors10.3%+4.2pp$12.12B
Software - Infrastructure4.7%-0.5pp$5.52B
Internet Content & Information4.3%+1.4pp$5.06B
Software - Application3.9%-0.9pp$4.64B
Asset Management3.3%-4.8pp$3.84B
Biotechnology3.2%+0.4pp$3.74B
Unknown2.8%-0.3pp$3.27B
Financial - Credit Services2.7%+0.8pp$3.21B
Medical - Devices2.6%+0.6pp$3.11B
Auto - Manufacturers2.6%+1.2pp$3.10B
Country
US86.1%-1.0pp
CA2.8%+0.8pp
Unknown2.8%-0.3pp
IE1.1%-0.7pp
GB0.9%-0.7pp
TW0.9%+0.2pp
CN0.8%-0.2pp
DE0.7%+0.6pp
Top 5: 9.0% · Top 10: 15.0% · Top 25: 26.0%
Top buys this quarter · 15
| AVGO Broadcom Inc. | +$1.13B |
| JPM JPMorgan Chase & Co. | +$889M |
| TGT Target Corporation | +$857M |
| GOOG Alphabet Inc. | +$843M |
| BSX Boston Scientific Corporation | +$820M |
| TSLA Tesla, Inc. | +$756M |
| CRWD CrowdStrike Holdings, Inc. | +$692M |
| AXP American Express Company | +$584M |
| MMM 3M Company | +$513M |
| C Citigroup Inc. | +$488M |
Top sells this quarter · 15
| SPY State Street SPDR S&P 500 ETF | −$3.06B |
| NVDA NVIDIA Corporation | −$1.50B |
| NFLX Netflix, Inc. | −$964M |
| PLTR Palantir Technologies Inc. | −$862M |
| WDC Western Digital Corporation | −$815M |
| AMD Advanced Micro Devices, Inc. | −$667M |
| TXN Texas Instruments Incorporated | −$622M |
| BE Bloom Energy Corporation | −$622M |
| SNDK Sandisk Corporation | −$497M |
| MCD McDonald's Corporation | −$581M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $118.02B | 3093 | +27.34% | +17.59% | +9.75% | -0.82B |
| 2025-12-31 | $123.11B | 3045 | +24.20% | +17.72% | +6.48% | +2.96B |
| 2025-09-30 | $115.90B | 2994 | +24.85% | +17.52% | +7.33% | +11.19B |
| 2025-06-30 | $94.30B | 2944 | +20.81% | +14.94% | +5.86% | +3.70B |
| 2025-03-31 | $79.06B | 2885 | +6.26% | +8.30% | -2.05% | -1.03B |
| 2024-12-31 | $85.06B | 2830 | +18.84% | +24.89% | -6.05% | +11.26B |
| 2024-09-30 | $70.82B | 2960 | +26.17% | +36.04% | -9.86% | +0.05B |
| 2024-06-30 | $65.87B | 3005 | +9.25% | +24.49% | -15.24% | -7.21B |
| 2024-03-31 | $72.50B | 2926 | +14.25% | +29.62% | -15.37% | +5.28B |
| 2023-12-31 | $63.84B | 2880 | +17.39% | +26.18% | -8.79% | +2.13B |
| 2023-09-30 | $55.77B | 2879 | +11.56% | +21.57% | -10.00% | +0.63B |
| 2023-06-30 | $59.27B | 2915 | +16.60% | +19.42% | -2.83% | -0.04B |
| 2023-03-31 | $56.26B | 3119 | -17.90% | -7.82% | -10.08% | -1.55B |
| 2022-12-31 | $53.43B | 3413 | -27.62% | -18.17% | -9.44% | +0.19B |
| 2022-09-30 | $50.63B | 3689 | -23.55% | -15.51% | -8.04% | -2.20B |
| 2022-06-30 | $54.33B | 3925 | -20.92% | -10.62% | -10.30% | +4.47B |