Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+1.90%
adds when stocks drop
when a holding falls −10%+
Middle response
-1.85%
baseline attrition
Rally response
-3.03%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| IVViShares Core S&P 500 ETF | $2.11B | 6.2% | — | 9.5 yr |
| NVDANVIDIA Corporation | $1.93B | 5.7% | +60.9% | 10.5 yr |
| AAPLApple Inc. | $1.67B | 4.9% | +14.7% | 10.5 yr |
| MSFTMicrosoft Corporation | $1.24B | 3.7% | -0.6% | 10.5 yr |
| AMZNAmazon.com, Inc. | $957M | 2.8% | +9.5% | 10.5 yr |
| GOOGLAlphabet Inc. | $796M | 2.3% | — | 10.5 yr |
| AVGOBroadcom Inc. | $671M | 2.0% | +86.0% | 8.0 yr |
| GOOGAlphabet Inc. | $649M | 1.9% | +84.3% | 10.5 yr |
| METAMeta Platforms, Inc. | $613M | 1.8% | -0.4% | 10.5 yr |
| VGKVanguard FTSE Europe ETF | $521M | 1.5% | — | 9.5 yr |
| IEMGiShares Core MSCI Emergi | $501M | 1.5% | — | 9.5 yr |
| TSLATesla, Inc. | $480M | 1.4% | +43.4% | 10.5 yr |
| JPMJPMorgan Chase & Co. | $392M | 1.2% | +21.8% | 10.5 yr |
| LLYEli Lilly and Company | $342M | 1.0% | +12.2% | 10.5 yr |
| XOMExxon Mobil Corporation | $331M | 1.0% | +47.6% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management12.0%-0.0pp$4.07B
Semiconductors11.2%+4.0pp$3.80B
Internet Content & Information6.3%+1.3pp$2.14B
Software - Infrastructure5.5%-0.7pp$1.87B
Consumer Electronics4.9%-0.1pp$1.67B
Drug Manufacturers - General4.1%+0.2pp$1.40B
Specialty Retail3.4%-0.2pp$1.17B
Banks - Diversified2.4%+0.1pp$827M
Financial - Credit Services2.0%-0.5pp$685M
Aerospace & Defense2.0%+0.3pp$661M
Country
US96.7%+0.5pp
IE1.2%-0.1pp
GB0.5%-0.0pp
Unknown0.3%+0.1pp
CH0.2%-0.0pp
SG0.2%+0.0pp
TW0.1%+0.1pp
CA0.1%-0.0pp
Top 5: 23.3% · Top 10: 32.9% · Top 25: 46.3%
Top buys this quarter · 15
| CAT Caterpillar Inc. | +$21M |
| LITE Lumentum Holdings Inc. | +$19M |
| COHR Coherent, Inc.new | +$16M |
| PANW Palo Alto Networks, Inc. | +$12M |
| MRK Merck & Co., Inc. | +$11M |
| NEM Newmont Corporation | +$10M |
| CW Curtiss-Wright Corporation | +$10M |
| VRT Vertiv Holdings Co | +$10M |
| TDY Teledyne Technologies Incorpor | +$9M |
| AMZN Amazon.com, Inc. | +$957M |
Top sells this quarter · 15
| JPM JPMorgan Chase & Co. | −$24M |
| AAPL Apple Inc. | −$18M |
| MSFT Microsoft Corporation | −$18M |
| MELI MercadoLibre, Inc. | −$15M |
| CSCO Cisco Systems, Inc. | −$13M |
| WST West Pharmaceutical Services, | −$13M |
| C Citigroup Inc. | −$12M |
| GOOG Alphabet Inc. | −$11M |
| BAC Bank of America Corporation | −$11M |
| VMC Vulcan Materials Company | −$11M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $33.88B | 909 | +15.87% | +17.59% | -1.72% | -0.59B |
| 2025-12-31 | $35.94B | 937 | +16.10% | +17.72% | -1.62% | +0.86B |
| 2025-09-30 | $34.50B | 945 | +16.09% | +17.52% | -1.43% | +0.23B |
| 2025-06-30 | $31.88B | 943 | +15.76% | +14.94% | +0.82% | -0.06B |
| 2025-03-31 | $28.90B | 965 | +6.60% | +8.30% | -1.70% | +0.94B |
| 2024-12-31 | $29.09B | 951 | +18.74% | +24.89% | -6.14% | +0.54B |
| 2024-09-30 | $28.09B | 963 | +31.23% | +36.04% | -4.81% | +0.08B |
| 2024-06-30 | $26.13B | 960 | +17.69% | +24.49% | -6.80% | -0.26B |
| 2024-03-31 | $25.93B | 971 | +23.57% | +29.62% | -6.05% | -0.65B |
| 2023-12-31 | $24.83B | 974 | +22.93% | +26.18% | -3.25% | -0.39B |
| 2023-09-30 | $22.45B | 988 | +16.84% | +21.57% | -4.73% | -0.25B |
| 2023-06-30 | $23.61B | 997 | +15.22% | +19.42% | -4.21% | +0.05B |
| 2023-03-31 | $22.05B | 1003 | -8.40% | -7.82% | -0.58% | +0.20B |
| 2022-12-31 | $20.51B | 996 | -17.98% | -18.17% | +0.20% | -0.47B |
| 2022-09-30 | $19.64B | 1008 | -14.69% | -15.51% | +0.82% | -0.53B |
| 2022-06-30 | $21.28B | 1029 | -9.49% | -10.62% | +1.13% | -0.47B |