Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-2.89%
trims when stocks drop
when a holding falls −10%+
Middle response
+0.74%
steady accumulation
Rally response
-6.33%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $4.35B | 6.8% | +60.9% | 10.5 yr |
| AAPLApple Inc. | $3.03B | 4.8% | +14.7% | 10.5 yr |
| GOOGAlphabet Inc. | $2.91B | 4.6% | +84.3% | 10.3 yr |
| MSFTMicrosoft Corporation | $2.56B | 4.0% | -0.6% | 10.5 yr |
| AMZNAmazon.com, Inc. | $2.05B | 3.2% | +9.5% | 10.5 yr |
| AVGOBroadcom Inc. | $1.66B | 2.6% | +86.0% | 7.8 yr |
| METAMeta Platforms, Inc. | $1.31B | 2.1% | -0.4% | 10.5 yr |
| JPMJPMorgan Chase & Co. | $1.31B | 2.1% | +21.8% | 10.5 yr |
| NEENextEra Energy, Inc. | $946M | 1.5% | +34.9% | 10.5 yr |
| VVisa Inc. | $862M | 1.4% | -13.1% | 10.5 yr |
| LLYEli Lilly and Company | $792M | 1.2% | +12.2% | 10.5 yr |
| CVXChevron Corporation | $718M | 1.1% | +29.2% | 10.5 yr |
| ABBVAbbVie Inc. | $687M | 1.1% | +7.3% | 10.5 yr |
| IVViShares Core S&P 500 ETF | $671M | 1.1% | — | 10.5 yr |
| COSTCostco Wholesale Corpora | $667M | 1.0% | +5.9% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors13.3%+5.6pp$8.43B
Asset Management9.6%-0.5pp$6.10B
Internet Content & Information8.0%+1.8pp$5.07B
Software - Infrastructure5.2%-2.0pp$3.29B
Consumer Electronics4.8%+0.3pp$3.05B
Specialty Retail3.7%-1.5pp$2.36B
Banks - Diversified3.7%-0.0pp$2.34B
Drug Manufacturers - General3.0%+1.0pp$1.93B
Aerospace & Defense3.0%+0.5pp$1.91B
Regulated Electric2.8%+0.3pp$1.77B
Country
US92.7%-1.3pp
IE2.1%+0.3pp
CA1.0%-0.1pp
TW0.9%+0.7pp
GB0.7%+0.5pp
Unknown0.6%-0.0pp
LU0.5%+0.3pp
NL0.3%-0.1pp
Top 5: 23.4% · Top 10: 33.0% · Top 25: 46.5%
Top buys this quarter · 15
| XPO XPO Logistics, Inc. | +$253M |
| LLY Eli Lilly and Company | +$250M |
| MCD McDonald's Corporation | +$235M |
| NFLX Netflix, Inc. | +$222M |
| LIN Linde plc | +$221M |
| MSFT Microsoft Corporation | +$2.56B |
| NVDA NVIDIA Corporation | +$4.35B |
| RRX Regal Rexnord Corporation | +$168M |
| LRCX Lam Research Corporation | +$161M |
| IBKR Interactive Brokers Group, Inc | +$160M |
Top sells this quarter · 15
| DHR Danaher Corporation | −$391M |
| UNH UnitedHealth Group Incorporate | −$339M |
| SPGI S&P Global Inc. | −$244M |
| MA Mastercard Incorporated | −$243M |
| BSX Boston Scientific Corporation | −$242M |
| SHW The Sherwin-Williams Company | −$190M |
| APO Apollo Global Management, Inc. | −$170M |
| ORLY O'Reilly Automotive, Inc. | −$165M |
| GOOG Alphabet Inc. | −$153M |
| QCOM QUALCOMM Incorporated | −$139M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $63.62B | 2477 | +15.59% | +17.59% | -2.00% | +1.49B |
| 2025-12-31 | $65.13B | 2508 | +13.84% | +17.72% | -3.88% | -1.42B |
| 2025-09-30 | $65.39B | 2464 | +14.92% | +17.52% | -2.59% | -0.09B |
| 2025-06-30 | $61.60B | 2375 | +14.79% | +14.94% | -0.15% | -0.87B |
| 2025-03-31 | $55.78B | 2414 | +3.92% | +8.30% | -4.38% | -1.78B |
| 2024-12-31 | $61.26B | 2433 | +21.41% | +24.89% | -3.48% | -1.12B |
| 2024-09-30 | $60.71B | 2604 | +33.04% | +36.04% | -3.00% | +0.51B |
| 2024-06-30 | $56.70B | 2021 | +19.88% | +24.49% | -4.61% | +0.60B |
| 2024-03-31 | $55.33B | 2025 | +28.25% | +29.62% | -1.37% | -1.01B |
| 2023-12-31 | $51.33B | 2121 | +25.01% | +26.18% | -1.17% | +0.04B |
| 2023-09-30 | $45.55B | 2144 | +19.25% | +21.57% | -2.31% | +0.46B |
| 2023-06-30 | $47.13B | 2259 | +20.10% | +19.42% | +0.68% | +1.43B |
| 2023-03-31 | $42.13B | 1894 | -7.71% | -7.82% | +0.10% | -1.80B |
| 2022-12-31 | $41.06B | 1839 | -17.72% | -18.17% | +0.45% | -0.10B |
| 2022-09-30 | $38.32B | 2006 | -14.92% | -15.51% | +0.59% | -0.32B |
| 2022-06-30 | $40.10B | 1856 | -11.19% | -10.62% | -0.57% | +0.37B |