Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-7.13%
trims when stocks drop
when a holding falls −10%+
Middle response
-2.86%
baseline attrition
Rally response
-7.31%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $408M | 6.0% | +60.9% | 2.5 yr |
| MSFTMicrosoft Corporation | $387M | 5.7% | -0.6% | 1.8 yr |
| AAPLApple Inc. | $311M | 4.6% | +14.7% | 2.5 yr |
| GOOGLAlphabet Inc. | $287M | 4.2% | — | 2.3 yr |
| AVGOBroadcom Inc. | $264M | 3.9% | +86.0% | 2.0 yr |
| MUMicron Technology, Inc. | $226M | 3.3% | +289.6% | 2.5 yr |
| JPMJPMorgan Chase & Co. | $216M | 3.2% | +21.8% | 2.5 yr |
| AMZNAmazon.com, Inc. | $202M | 3.0% | +9.5% | 2.5 yr |
| MSIMotorola Solutions, Inc. | $189M | 2.8% | +0.2% | 2.5 yr |
| AEMAgnico Eagle Mines Limit | $186M | 2.7% | +89.2% | 2.3 yr |
| RTXRTX Corporation | $162M | 2.4% | +48.1% | 2.0 yr |
| PHParker-Hannifin Corporat | $157M | 2.3% | +48.6% | 2.5 yr |
| WMTWalmart Inc. | $148M | 2.2% | +42.8% | 2.5 yr |
| TMOThermo Fisher Scientific | $132M | 1.9% | -0.9% | 2.5 yr |
| XPOXPO Logistics, Inc. | $127M | 1.9% | +80.8% | 2.5 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors14.4%+5.1pp$978M
Software - Infrastructure7.4%+4.3pp$502M
Internet Content & Information6.2%+0.5pp$421M
Drug Manufacturers - General5.5%+0.7pp$375M
Consumer Electronics4.6%-1.1pp$311M
Banks - Diversified4.4%-0.8pp$301M
Gold4.3%+0.4pp$289M
Biotechnology3.7%+0.5pp$249M
Oil & Gas Equipment & Services3.4%+0.6pp$228M
Specialty Retail3.0%-1.2pp$206M
Country
US88.6%-0.9pp
CA5.9%+0.2pp
GB2.0%+1.7pp
FR1.1%
Unknown0.5%+0.0pp
CH0.4%+0.0pp
TW0.4%-0.0pp
IT0.3%-0.3pp
Top 5: 24.4% · Top 10: 39.4% · Top 25: 65.1%
Top buys this quarter · 15
| AZN AstraZeneca PLCnew | +$170M |
| PANW Palo Alto Networks, Inc. | +$48M |
| T AT&T Inc. | +$43M |
| NFLX Netflix, Inc. | +$24M |
| VLO Valero Energy Corporation | +$13M |
| FNV Franco-Nevada Corporation | +$12M |
| CME CME Group Inc. | +$11M |
| PH Parker-Hannifin Corporation | +$8M |
| HAL Halliburton Company | +$8M |
| AMZN Amazon.com, Inc. | +$202M |
Top sells this quarter · 15
| TMUS T-Mobile US, Inc. | −$61M |
| AEM Agnico Eagle Mines Limited | −$46M |
| MU Micron Technology, Inc. | −$221M |
| HUBS HubSpot, Inc.exit | −$16M |
| BAC Bank of America Corporation | −$11M |
| RTX RTX Corporation | −$150M |
| RACE Ferrari N.V. | −$10M |
| AAPL Apple Inc. | −$9M |
| JPM JPMorgan Chase & Co. | −$8M |
| NVDA NVIDIA Corporation | −$8M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $6.80B | 365 | +33.57% | +17.59% | +15.98% | +0.05B |
| 2025-12-31 | $6.77B | 396 | +29.31% | +17.72% | +11.59% | +0.31B |
| 2025-09-30 | $5.99B | 389 | +19.70% | +17.52% | +2.19% | +0.11B |
| 2025-06-30 | $5.24B | 326 | +11.36% | +14.94% | -3.58% | +0.27B |
| 2025-03-31 | $4.49B | 330 | +2.72% | +8.30% | -5.59% | -0.11B |
| 2024-12-31 | $4.76B | 339 | +17.18% | +24.89% | -7.71% | +1.01B |
| 2024-09-30 | $3.76B | 394 | +4.36% | +5.75% | -1.39% | -1.20B |
| 2024-06-30 | $4.76B | 386 | +2.15% | +4.38% | -2.23% | -0.56B |
| 2024-03-31 | $5.20B | 436 | +10.13% | +10.39% | -0.26% | +1.02B |
| 2023-12-31 | $3.79B | 399 | — | — | — | — |