Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-11.74%
trims when stocks drop
when a holding falls −10%+
Middle response
-8.45%
baseline attrition
Rally response
+1.02%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $5.38B | 6.2% | +60.9% | 10.5 yr |
| AAPLApple Inc. | $3.99B | 4.6% | +14.7% | 10.5 yr |
| GOOGLAlphabet Inc. | $2.98B | 3.4% | — | 10.5 yr |
| AVGOBroadcom Inc. | $2.72B | 3.1% | +86.0% | 8.0 yr |
| MSFTMicrosoft Corporation | $2.55B | 2.9% | -0.6% | 10.5 yr |
| AMZNAmazon.com, Inc. | $2.06B | 2.4% | +9.5% | 10.5 yr |
| UNIYWisdomTree Voya Yield En | $1.22B | 1.4% | — | 3.3 yr |
| METAMeta Platforms, Inc. | $1.17B | 1.3% | -0.4% | 10.5 yr |
| JPMJPMorgan Chase & Co. | $1.08B | 1.2% | +21.8% | 10.5 yr |
| TSLATesla, Inc. | $1.06B | 1.2% | +43.4% | 10.5 yr |
| LLYEli Lilly and Company | $1.04B | 1.2% | +12.2% | 10.5 yr |
| CATCaterpillar Inc. | $1.01B | 1.2% | +117.8% | 10.5 yr |
| TSMTaiwan Semiconductor Man | $921M | 1.1% | +105.6% | 8.0 yr |
| JNJJohnson & Johnson | $899M | 1.0% | +51.5% | 10.5 yr |
| MUMicron Technology, Inc. | $852M | 1.0% | +289.6% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors16.4%+7.2pp$14.34B
Software - Infrastructure7.3%-2.5pp$6.34B
Internet Content & Information5.7%+0.7pp$4.94B
Drug Manufacturers - General4.7%+1.4pp$4.08B
Consumer Electronics4.7%+0.1pp$4.08B
Asset Management4.3%-0.0pp$3.75B
Hardware, Equipment & Parts3.5%+2.4pp$3.02B
Banks - Diversified3.4%-0.8pp$2.98B
Specialty Retail3.0%-0.7pp$2.62B
Unknown3.0%+0.1pp$2.60B
Country
US91.2%+0.0pp
Unknown3.0%+0.1pp
TW1.1%+0.5pp
GB0.9%+0.4pp
CA0.8%+0.4pp
NL0.7%+0.5pp
IE0.6%-0.4pp
SG0.5%+0.0pp
Top 5: 20.2% · Top 10: 27.8% · Top 25: 40.6%
Top buys this quarter · 15
| JNJ Johnson & Johnson | +$679M |
| COST Costco Wholesale Corporation | +$579M |
| AMAT Applied Materials, Inc. | +$468M |
| NFLX Netflix, Inc. | +$410M |
| SLB SLB N.V. | +$376M |
| AZN AstraZeneca PLCnew | +$369M |
| ROST Ross Stores, Inc. | +$328M |
| XOM Exxon Mobil Corporation | +$279M |
| AKAM Akamai Technologies, Inc. | +$274M |
| MRK Merck & Co., Inc. | +$261M |
Top sells this quarter · 15
| MSFT Microsoft Corporation | −$1.09B |
| MS Morgan Stanley | −$347M |
| MMM 3M Company | −$304M |
| LRCX Lam Research Corporation | −$302M |
| LLY Eli Lilly and Company | −$300M |
| WFC Wells Fargo & Company | −$293M |
| GOOG Alphabet Inc. | −$291M |
| CSCO Cisco Systems, Inc. | −$289M |
| CEG Constellation Energy Corporati | −$256M |
| BAC Bank of America Corporation | −$215M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $87.20B | 2273 | +19.28% | +17.59% | +1.69% | +0.16B |
| 2025-12-31 | $91.48B | 2329 | +16.27% | +17.72% | -1.45% | -1.60B |
| 2025-09-30 | $91.48B | 2353 | +19.16% | +17.52% | +1.64% | -5.96B |
| 2025-06-30 | $90.61B | 2545 | +15.20% | +14.94% | +0.26% | +0.11B |
| 2025-03-31 | $78.99B | 2517 | +1.39% | +8.30% | -6.92% | -0.19B |
| 2024-12-31 | $85.37B | 2608 | +17.88% | +24.89% | -7.00% | -3.22B |
| 2024-09-30 | $84.95B | 2668 | +28.36% | +36.04% | -7.68% | -9.15B |
| 2024-06-30 | $90.52B | 2680 | +18.50% | +24.49% | -5.99% | -0.56B |
| 2024-03-31 | $90.33B | 2644 | +29.69% | +29.62% | +0.07% | -1.62B |
| 2023-12-31 | $85.27B | 2754 | +30.75% | +26.18% | +4.57% | -4.35B |
| 2023-09-30 | $78.92B | 2749 | +17.78% | +21.57% | -3.79% | -1.67B |
| 2023-06-30 | $83.97B | 2768 | +18.93% | +19.42% | -0.50% | -4.69B |
| 2023-03-31 | $80.35B | 2724 | -8.77% | -7.82% | -0.96% | +0.24B |
| 2022-12-31 | $73.68B | 2764 | -19.96% | -18.17% | -1.79% | -0.64B |
| 2022-09-30 | $72.66B | 2784 | -13.09% | -15.51% | +2.42% | +34.26B |
| 2022-06-30 | $39.63B | 2751 | -9.81% | -10.62% | +0.81% | -1.20B |