Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-5.90%
trims when stocks drop
when a holding falls −10%+
Middle response
-1.06%
baseline attrition
Rally response
-0.68%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $196M | 8.1% | +60.9% | 8.8 yr |
| AAPLApple Inc. | $157M | 6.5% | +14.7% | 10.0 yr |
| GOOGLAlphabet Inc. | $141M | 5.8% | — | 10.3 yr |
| AMZNAmazon.com, Inc. | $110M | 4.5% | +9.5% | 10.0 yr |
| MSFTMicrosoft Corporation | $94M | 3.9% | -0.6% | 10.3 yr |
| COSTCostco Wholesale Corpora | $91M | 3.8% | +5.9% | 10.3 yr |
| VVisa Inc. | $72M | 3.0% | -13.1% | 10.3 yr |
| VOOVanguard S&P 500 ETF | $69M | 2.8% | — | 10.3 yr |
| BRK-BBerkshire Hathaway Inc. | $65M | 2.7% | — | 10.0 yr |
| METAMeta Platforms, Inc. | $61M | 2.5% | -0.4% | 10.3 yr |
| JPMJPMorgan Chase & Co. | $57M | 2.4% | +21.8% | 10.3 yr |
| ABBABB Ltd | $56M | 2.3% | — | 6.8 yr |
| LLYEli Lilly and Company | $50M | 2.1% | +12.2% | 10.3 yr |
| WMTWalmart Inc. | $48M | 2.0% | +42.8% | 10.3 yr |
| ASMLASML Holding N.V. | $45M | 1.8% | +100.9% | 8.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management12.4%+1.2pp$300M
Semiconductors10.6%+3.0pp$255M
Internet Content & Information10.0%+2.0pp$242M
Consumer Electronics6.5%-0.3pp$157M
Discount Stores5.8%+0.1pp$140M
Software - Infrastructure5.0%-0.6pp$122M
Specialty Retail4.5%-0.3pp$110M
Drug Manufacturers - General4.4%+0.3pp$107M
Financial - Credit Services3.3%-1.3pp$81M
Medical - Diagnostics & Research2.9%-0.7pp$71M
Country
US94.4%-0.1pp
CH2.5%+0.5pp
NL1.8%+0.8pp
LU0.5%+0.1pp
TW0.5%+0.4pp
Unknown0.1%-0.0pp
GB0.1%-0.0pp
CA0.1%+0.0pp
Top 5: 28.9% · Top 10: 43.7% · Top 25: 69.7%
Top buys this quarter · 15
| TSM Taiwan Semiconductor Manufactu | +$9M |
| PWR Quanta Services, Inc. | +$6M |
| CEG Constellation Energy Corporati | +$3M |
| GEV GE Vernova Inc. | +$2M |
| VST Vistra Corp. | +$2M |
| SPOT Spotify Technology S.A. | +$13M |
| GS The Goldman Sachs Group, Inc. | +$37M |
| META Meta Platforms, Inc. | +$61M |
| WMT Walmart Inc. | +$0M |
| ASML ASML Holding N.V. | +$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $2.42B | 189 | +13.44% | +17.59% | -4.15% | -0.03B |
| 2025-12-31 | $2.56B | 188 | +13.51% | +17.72% | -4.21% | +0.02B |
| 2025-09-30 | $2.48B | 181 | +12.43% | +17.52% | -5.09% | +0.00B |
| 2025-06-30 | $2.34B | 185 | +12.52% | +14.94% | -2.42% | -0.01B |
| 2025-03-31 | $2.15B | 180 | +5.22% | +8.30% | -3.08% | -0.01B |
| 2024-12-31 | $2.25B | 182 | +18.68% | +24.89% | -6.21% | -0.01B |
| 2024-09-30 | $2.23B | 182 | +31.73% | +36.04% | -4.30% | -0.02B |
| 2024-06-30 | $2.13B | 182 | +18.34% | +24.49% | -6.15% | +0.04B |
| 2024-03-31 | $2.03B | 183 | +24.19% | +29.62% | -5.43% | +0.02B |
| 2023-12-31 | $1.87B | 174 | +21.53% | +26.18% | -4.64% | -0.05B |
| 2023-09-30 | $1.70B | 183 | +15.06% | +21.57% | -6.51% | +0.01B |
| 2023-06-30 | $1.77B | 181 | +15.05% | +19.42% | -4.37% | +0.00B |
| 2023-03-31 | $1.65B | 176 | -8.93% | -7.82% | -1.11% | -0.01B |
| 2022-12-31 | $1.57B | 175 | -17.74% | -18.17% | +0.43% | -0.00B |
| 2022-09-30 | $1.48B | 173 | -14.24% | -15.51% | +1.27% | -0.02B |
| 2022-06-30 | $1.57B | 180 | -9.46% | -10.62% | +1.16% | -0.05B |