Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-0.30%
trims when stocks drop
when a holding falls −10%+
Middle response
-8.69%
baseline attrition
Rally response
-12.14%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| BBREJPMorgan BetaBuilders MS | $249M | 36.3% | — | 4.8 yr |
| NVDANVIDIA Corporation | $36M | 5.3% | +60.9% | 3.8 yr |
| GOOGLAlphabet Inc. | $24M | 3.5% | — | 3.5 yr |
| MSFTMicrosoft Corporation | $23M | 3.4% | -0.6% | 6.3 yr |
| AMZNAmazon.com, Inc. | $16M | 2.4% | +9.5% | 4.8 yr |
| AAPLApple Inc. | $15M | 2.1% | +14.7% | 6.3 yr |
| XOMExxon Mobil Corporation | $11M | 1.7% | +47.6% | 5.3 yr |
| METAMeta Platforms, Inc. | $10M | 1.5% | -0.4% | 4.3 yr |
| AVGOBroadcom Inc. | $10M | 1.5% | +86.0% | 2.5 yr |
| JPMJPMorgan Chase & Co. | $9M | 1.3% | +21.8% | 3.3 yr |
| MSMorgan Stanley | $7M | 1.1% | +44.8% | 1.3 yr |
| COSTCostco Wholesale Corpora | $7M | 1.1% | +5.9% | 3.3 yr |
| DUKDuke Energy Corporation | $7M | 1.0% | +11.2% | 1.3 yr |
| MOAltria Group, Inc. | $7M | 1.0% | +15.8% | 0.8 yr |
| IMTXImmatics N.V. | $7M | 1.0% | +118.2% | 5.8 yr |
Portfolio composition (YoY)
Industry mix
Asset Management40.2%-4.0pp$277M
Semiconductors9.9%+2.4pp$68M
Internet Content & Information5.1%+0.3pp$35M
Software - Infrastructure3.9%+0.4pp$27M
Financial - Capital Markets2.6%+2.5pp$18M
Specialty Retail2.5%-1.1pp$17M
Biotechnology2.2%+1.6pp$15M
Consumer Electronics2.2%+2.0pp$15M
Banks - Diversified2.0%+0.0pp$14M
Software - Application1.8%-1.3pp$12M
Country
US94.6%+0.5pp
IE1.1%-1.2pp
DE1.0%+0.5pp
GB0.7%+0.2pp
CH0.6%
TW0.5%-0.3pp
BM0.5%
SG0.4%-0.1pp
Top 5: 50.8% · Top 10: 58.9% · Top 25: 71.8%
Top buys this quarter · 15
| MPC Marathon Petroleum Corporationnew | +$5M |
| DUK Duke Energy Corporation | +$5M |
| LIN Linde plc | +$4M |
| FDX FedEx Corporation | +$4M |
| COST Costco Wholesale Corporation | +$4M |
| VRSN VeriSign, Inc. | +$4M |
| RNR RenaissanceRe Holdings Ltd.new | +$3M |
| NVS Novartis AG | +$3M |
| BA The Boeing Company | +$2M |
| NVDA NVIDIA Corporation | +$2M |
Top sells this quarter · 15
| AAPL Apple Inc. | −$13M |
| CSCO Cisco Systems, Inc. | −$7M |
| MRK Merck & Co., Inc.exit | −$6M |
| TTWO Take-Two Interactive Software, | −$5M |
| BMY Bristol-Myers Squibb Companyexit | −$5M |
| USFD US Foods Holding Corp. | −$5M |
| HD The Home Depot, Inc. | −$4M |
| NFLX Netflix, Inc. | −$4M |
| GLW Corning Incorporated | −$4M |
| WMT Walmart Inc. | −$3M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $687M | 301 | +22.60% | +17.59% | +5.01% | +0.00B |
| 2025-12-31 | $708M | 318 | +21.69% | +17.72% | +3.97% | -0.01B |
| 2025-09-30 | $691M | 210 | +19.80% | +17.52% | +2.28% | +0.01B |
| 2025-06-30 | $636M | 159 | +17.83% | +14.94% | +2.89% | -0.03B |
| 2025-03-31 | $583M | 155 | +3.02% | +8.30% | -5.28% | -0.23B |
| 2024-12-31 | $847M | 174 | +15.67% | +24.89% | -9.22% | +0.22B |
| 2024-09-30 | $616M | 162 | +16.88% | +36.04% | -19.15% | +0.07B |
| 2024-06-30 | $513M | 171 | +6.77% | +24.49% | -17.72% | +0.08B |
| 2024-03-31 | $431M | 219 | +33.71% | +29.62% | +4.08% | +0.04B |
| 2023-12-31 | $365M | 171 | +17.13% | +26.18% | -9.05% | +0.10B |
| 2023-09-30 | $258M | 98 | +19.90% | +21.57% | -1.67% | +0.01B |
| 2023-06-30 | $259M | 18 | +34.22% | +19.42% | +14.79% | -0.07B |
| 2023-03-31 | $260M | 19 | -10.14% | -7.82% | -2.32% | +0.01B |
| 2022-12-31 | $266M | 52 | -6.91% | -18.17% | +11.27% | -0.01B |
| 2022-09-30 | $267M | 41 | +67.66% | -15.51% | +83.17% | +0.02B |
| 2022-06-30 | $231M | 17 | -15.81% | -16.11% | +0.30% | +0.07B |