Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-12.57%
trims when stocks drop
when a holding falls −10%+
Middle response
-7.74%
baseline attrition
Rally response
-0.75%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| GEVGE Vernova Inc. | $245M | 7.2% | +186.8% | 2.0 yr |
| NVDANVIDIA Corporation | $227M | 6.7% | +60.9% | 9.3 yr |
| TSMTaiwan Semiconductor Man | $206M | 6.0% | +105.6% | 6.0 yr |
| AMZNAmazon.com, Inc. | $185M | 5.4% | +9.5% | 10.5 yr |
| AAPLApple Inc. | $182M | 5.3% | +14.7% | 10.5 yr |
| GEGE Aerospace | $160M | 4.7% | +42.5% | 2.3 yr |
| NFLXNetflix, Inc. | $148M | 4.3% | +3.1% | 7.5 yr |
| GOOGLAlphabet Inc. | $148M | 4.3% | — | 10.5 yr |
| MSFTMicrosoft Corporation | $143M | 4.2% | -0.6% | 9.0 yr |
| METAMeta Platforms, Inc. | $136M | 4.0% | -0.4% | 10.0 yr |
| COSTCostco Wholesale Corpora | $122M | 3.6% | +5.9% | 4.0 yr |
| ASMLASML Holding N.V. | $120M | 3.5% | +100.9% | 8.0 yr |
| GSThe Goldman Sachs Group, | $118M | 3.5% | +58.1% | 1.5 yr |
| BAThe Boeing Company | $100M | 3.0% | +16.7% | 3.5 yr |
| JCIJohnson Controls Interna | $93M | 2.7% | +65.7% | 0.3 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors19.2%+8.6pp$653M
Internet Content & Information9.5%-3.9pp$323M
Aerospace & Defense9.5%+2.2pp$323M
Renewable Utilities7.2%+4.0pp$245M
Specialty Retail5.8%-3.8pp$197M
Entertainment5.5%-1.3pp$188M
Consumer Electronics5.3%+1.0pp$182M
Software - Infrastructure4.2%-6.2pp$143M
Banks - Diversified4.1%+2.6pp$138M
Financial - Capital Markets3.9%+1.0pp$133M
Country
US83.0%-3.8pp
TW6.0%+1.9pp
NL3.5%+1.6pp
IE2.9%
GB1.4%-0.2pp
Unknown0.8%
IL0.7%
DE0.6%-1.0pp
Top 5: 30.7% · Top 10: 52.3% · Top 25: 83.4%
Top buys this quarter · 15
| JCI Johnson Controls Internationalnew | +$93M |
| KO The Coca-Cola Companynew | +$76M |
| HON Honeywell International Inc.new | +$75M |
| NFLX Netflix, Inc. | +$26M |
| NVDA NVIDIA Corporation | +$22M |
| CCEP Coca-Cola Europacific Partners | +$20M |
| SHW The Sherwin-Williams Company | +$17M |
| TEVA Teva Pharmaceutical Industries | +$17M |
| CHRW C.H. Robinson Worldwide, Inc. | +$16M |
| LITE Lumentum Holdings Inc.new | +$13M |
Top sells this quarter · 15
| TSLA Tesla, Inc.exit | −$78M |
| APP AppLovin Corporationexit | −$70M |
| ISRG Intuitive Surgical, Inc.exit | −$53M |
| MSFT Microsoft Corporation | −$50M |
| JPM JPMorgan Chase & Co. | −$43M |
| MA Mastercard Incorporated | −$18M |
| TSM Taiwan Semiconductor Manufactu | −$197M |
| CBRE CBRE Group, Inc. | −$12M |
| GE GE Aerospace | −$12M |
| FERG Ferguson plcexit | −$12M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $3.40B | 65 | +24.49% | +17.59% | +6.89% | -0.08B |
| 2025-12-31 | $3.59B | 75 | +19.87% | +17.72% | +2.15% | -0.33B |
| 2025-09-30 | $3.90B | 76 | +26.10% | +17.52% | +8.58% | -0.03B |
| 2025-06-30 | $3.69B | 68 | +26.83% | +14.94% | +11.89% | +0.20B |
| 2025-03-31 | $2.91B | 63 | +12.10% | +8.30% | +3.80% | -0.53B |
| 2024-12-31 | $3.68B | 66 | +42.21% | +24.89% | +17.32% | -0.11B |
| 2024-09-30 | $3.58B | 61 | +57.16% | +36.04% | +21.13% | -0.00B |
| 2024-06-30 | $3.34B | 60 | +42.64% | +24.49% | +18.15% | +0.13B |
| 2024-03-31 | $3.04B | 67 | +55.09% | +29.62% | +25.47% | +0.01B |
| 2023-12-31 | $2.55B | 68 | +43.66% | +26.18% | +17.48% | -0.18B |
| 2023-09-30 | $2.33B | 65 | +19.26% | +21.57% | -2.31% | -0.10B |
| 2023-06-30 | $2.51B | 63 | +15.84% | +19.42% | -3.59% | +0.05B |
| 2023-03-31 | $2.14B | 63 | -18.43% | -7.82% | -10.61% | +0.01B |
| 2022-12-31 | $1.93B | 64 | -2.81% | +7.56% | -10.37% | +0.13B |
| 2022-09-30 | $1.86B | 70 | -5.61% | -4.93% | -0.68% | -0.07B |
| 2022-06-30 | $2.05B | 89 | -19.07% | -16.11% | -2.96% | -0.27B |