Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-11.47%
trims when stocks drop
when a holding falls −10%+
Middle response
-6.30%
baseline attrition
Rally response
-9.11%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $1.47B | 9.0% | +60.9% | 9.8 yr |
| MSFTMicrosoft Corporation | $862M | 5.3% | -0.6% | 10.3 yr |
| AAPLApple Inc. | $672M | 4.1% | +14.7% | 10.3 yr |
| GOOGAlphabet Inc. | $579M | 3.5% | +84.3% | 10.5 yr |
| GOOGLAlphabet Inc. | $552M | 3.4% | — | 10.5 yr |
| AVGOBroadcom Inc. | $475M | 2.9% | +86.0% | 7.3 yr |
| MAMastercard Incorporated | $470M | 2.9% | -8.5% | 10.5 yr |
| AMZNAmazon.com, Inc. | $322M | 2.0% | +9.5% | 10.3 yr |
| HONHoneywell International | $297M | 1.8% | +9.0% | 10.3 yr |
| MUMicron Technology, Inc. | $295M | 1.8% | +289.6% | 9.8 yr |
| BACBank of America Corporat | $280M | 1.7% | +19.4% | 10.3 yr |
| METAMeta Platforms, Inc. | $240M | 1.5% | -0.4% | 10.5 yr |
| HDThe Home Depot, Inc. | $234M | 1.4% | -8.0% | 10.0 yr |
| XLIState Street Industrial | $230M | 1.4% | — | 2.3 yr |
| TSLATesla, Inc. | $223M | 1.4% | +43.4% | 7.0 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors17.7%+3.7pp$2.89B
Internet Content & Information8.4%+0.7pp$1.37B
Software - Infrastructure7.7%+0.3pp$1.25B
Consumer Electronics4.1%-1.4pp$672M
Drug Manufacturers - General3.4%-1.3pp$562M
Specialty Retail3.0%+0.6pp$498M
Financial - Credit Services3.0%-4.1pp$487M
Banks - Diversified2.9%+0.6pp$467M
Asset Management2.7%-0.3pp$443M
Medical - Devices2.5%+0.8pp$404M
Country
US95.6%+0.1pp
GB1.5%-0.7pp
Unknown1.1%+0.4pp
IE0.9%+0.2pp
IL0.3%+0.3pp
CA0.2%+0.0pp
NL0.1%-0.1pp
MC0.1%+0.0pp
Top 5: 25.3% · Top 10: 36.7% · Top 25: 53.7%
Top buys this quarter · 15
| GOOG Alphabet Inc. | +$281M |
| AMZN Amazon.com, Inc. | +$261M |
| MSFT Microsoft Corporation | +$862M |
| MU Micron Technology, Inc. | +$170M |
| HD The Home Depot, Inc. | +$108M |
| SNDK Sandisk Corporation | +$88M |
| COST Costco Wholesale Corporation | +$86M |
| TSLA Tesla, Inc. | +$81M |
| IBM International Business Machine | +$79M |
| NCLH Norwegian Cruise Line Holdings | +$73M |
Top sells this quarter · 15
| AAPL Apple Inc. | −$428M |
| AVGO Broadcom Inc. | −$222M |
| MA Mastercard Incorporated | −$172M |
| SPY State Street SPDR S&P 500 ETF | −$131M |
| CRM Salesforce, Inc. | −$111M |
| NVDA NVIDIA Corporation | −$93M |
| CSCO Cisco Systems, Inc. | −$89M |
| LIN Linde plc | −$88M |
| EPD Enterprise Products Partners L | −$75M |
| NFLX Netflix, Inc. | −$74M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $16.35B | 502 | +23.98% | +17.59% | +6.39% | +0.48B |
| 2025-12-31 | $16.56B | 551 | +22.80% | +17.72% | +5.08% | -2.53B |
| 2025-09-30 | $18.43B | 506 | +22.49% | +17.52% | +4.97% | +0.44B |
| 2025-06-30 | $16.44B | 472 | +17.84% | +14.94% | +2.90% | -0.02B |
| 2025-03-31 | $14.42B | 476 | +6.30% | +8.30% | -2.01% | +0.33B |
| 2024-12-31 | $14.84B | 559 | +21.14% | +24.89% | -3.74% | -2.93B |
| 2024-09-30 | $17.21B | 531 | +31.68% | +36.04% | -4.36% | -0.54B |
| 2024-06-30 | $16.86B | 534 | +20.70% | +24.49% | -3.80% | +1.84B |
| 2024-03-31 | $14.59B | 551 | +26.63% | +29.62% | -2.99% | +1.11B |
| 2023-12-31 | $12.45B | 540 | +27.57% | +26.18% | +1.40% | -0.27B |
| 2023-09-30 | $11.33B | 626 | +21.84% | +21.57% | +0.28% | -1.39B |
| 2023-06-30 | $13.19B | 533 | +20.31% | +19.42% | +0.88% | +2.06B |
| 2023-03-31 | $10.30B | 654 | -4.98% | -7.82% | +2.84% | -0.56B |
| 2022-12-31 | $9.96B | 508 | -16.88% | -18.17% | +1.30% | +3.56B |
| 2022-09-30 | $5.98B | 403 | -13.90% | -15.51% | +1.61% | -2.27B |
| 2022-06-30 | $8.65B | 529 | -9.12% | -10.62% | +1.50% | +0.19B |