Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-1.14%
trims when stocks drop
when a holding falls −10%+
Middle response
-0.90%
baseline attrition
Rally response
-0.19%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $6.40B | 6.8% | +60.9% | 10.5 yr |
| AAPLApple Inc. | $5.65B | 6.0% | +14.7% | 10.5 yr |
| MSFTMicrosoft Corporation | $3.97B | 4.2% | -0.6% | 10.5 yr |
| AMZNAmazon.com, Inc. | $3.03B | 3.2% | +9.5% | 10.5 yr |
| GOOGLAlphabet Inc. | $2.55B | 2.7% | — | 10.5 yr |
| AVGOBroadcom Inc. | $2.11B | 2.2% | +86.0% | 8.0 yr |
| GOOGAlphabet Inc. | $2.09B | 2.2% | +84.3% | 10.5 yr |
| IVViShares Core S&P 500 ETF | $1.93B | 2.0% | — | 0.8 yr |
| METAMeta Platforms, Inc. | $1.88B | 2.0% | -0.4% | 10.5 yr |
| TSLATesla, Inc. | $1.59B | 1.7% | +43.4% | 10.5 yr |
| JPMJPMorgan Chase & Co. | $1.22B | 1.3% | +21.8% | 10.5 yr |
| LLYEli Lilly and Company | $1.12B | 1.2% | +12.2% | 10.5 yr |
| BRK-BBerkshire Hathaway Inc. | $993M | 1.1% | — | 10.5 yr |
| JNJJohnson & Johnson | $915M | 1.0% | +51.5% | 10.5 yr |
| WMTWalmart Inc. | $832M | 0.9% | +42.8% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors13.2%+4.0pp$12.44B
Internet Content & Information7.2%+1.2pp$6.81B
Software - Infrastructure6.3%-0.9pp$5.94B
Consumer Electronics6.0%-0.5pp$5.68B
Drug Manufacturers - General4.5%-0.1pp$4.21B
Specialty Retail4.0%-0.4pp$3.76B
Asset Management3.4%+2.2pp$3.18B
Banks - Diversified2.8%-0.0pp$2.64B
Aerospace & Defense2.4%+0.3pp$2.25B
Financial - Credit Services2.4%-0.8pp$2.23B
Country
US96.4%+0.4pp
IE1.3%-0.2pp
GB0.5%-0.1pp
Unknown0.4%-0.0pp
CH0.3%-0.0pp
SG0.2%+0.1pp
BM0.1%-0.0pp
UY0.1%-0.0pp
Top 5: 22.9% · Top 10: 33.0% · Top 25: 45.0%
Top buys this quarter · 15
| OTF Blue Owl Technology Finance Co | +$195M |
| PANW Palo Alto Networks, Inc. | +$189M |
| SNDK Sandisk Corporation | +$19M |
| WAT Waters Corporation | +$19M |
| IREN IREN Limitednew | +$12M |
| FITB Fifth Third Bancorp | +$12M |
| CDE Coeur Mining, Inc. | +$11M |
| LITE Lumentum Holdings Inc. | +$10M |
| COHR Coherent, Inc. | +$8M |
| HBAN Huntington Bancshares Incorpor | +$8M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $94.49B | 2925 | +17.64% | +17.59% | +0.05% | -0.99B |
| 2025-12-31 | $99.96B | 3052 | +16.94% | +17.72% | -0.78% | +0.38B |
| 2025-09-30 | $97.50B | 3046 | +17.39% | +17.52% | -0.13% | +0.13B |
| 2025-06-30 | $90.04B | 2957 | +15.38% | +14.94% | +0.43% | -0.16B |
| 2025-03-31 | $80.89B | 3054 | +5.35% | +8.30% | -2.96% | -0.43B |
| 2024-12-31 | $85.65B | 3065 | +19.48% | +24.89% | -5.41% | -2.26B |
| 2024-09-30 | $85.75B | 3075 | +30.60% | +36.04% | -5.44% | -0.95B |
| 2024-06-30 | $81.58B | 3085 | +18.20% | +24.49% | -6.30% | +0.98B |
| 2024-03-31 | $79.15B | 3044 | +24.90% | +29.62% | -4.72% | +1.07B |
| 2023-12-31 | $72.51B | 3071 | +24.25% | +26.18% | -1.93% | -0.41B |
| 2023-09-30 | $65.07B | 3100 | +17.61% | +21.57% | -3.96% | -3.06B |
| 2023-06-30 | $70.82B | 3108 | +17.03% | +19.42% | -2.40% | -1.49B |
| 2023-03-31 | $67.20B | 3057 | -8.01% | -7.82% | -0.19% | -0.97B |
| 2022-12-31 | $63.64B | 3078 | +6.08% | +7.56% | -1.48% | +0.87B |
| 2022-09-30 | $59.18B | 3098 | -4.29% | -4.93% | +0.64% | -1.29B |
| 2022-06-30 | $63.18B | 3123 | -15.42% | -16.11% | +0.70% | -1.07B |