Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-19.33%
trims when stocks drop
when a holding falls −10%+
Middle response
-11.56%
baseline attrition
Rally response
+0.46%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $219M | 7.4% | +60.9% | 6.3 yr |
| GOOGLAlphabet Inc. | $120M | 4.1% | — | 10.5 yr |
| MSFTMicrosoft Corporation | $98M | 3.3% | -0.6% | 10.5 yr |
| SPIBState Street SPDR Portfo | $90M | 3.1% | — | 1.5 yr |
| AAPLApple Inc. | $89M | 3.0% | +14.7% | 10.5 yr |
| GOVTiShares U.S. Treasury Bo | $76M | 2.6% | — | 1.5 yr |
| LRCXLam Research Corporation | $72M | 2.4% | +196.1% | 1.5 yr |
| METAMeta Platforms, Inc. | $71M | 2.4% | -0.4% | 10.5 yr |
| LLYEli Lilly and Company | $68M | 2.3% | +12.2% | 6.5 yr |
| AVGOBroadcom Inc. | $63M | 2.1% | +86.0% | 3.0 yr |
| ANETArista Networks, Inc. | $53M | 1.8% | +58.5% | 1.5 yr |
| AMZNAmazon.com, Inc. | $51M | 1.7% | +9.5% | 10.5 yr |
| GILDGilead Sciences, Inc. | $48M | 1.6% | +27.7% | 10.5 yr |
| SCHWThe Charles Schwab Corpo | $47M | 1.6% | +21.5% | 10.5 yr |
| VVisa Inc. | $46M | 1.6% | -13.1% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors17.0%+11.0pp$503M
Internet Content & Information6.8%+1.5pp$200M
Asset Management5.5%-15.6pp$164M
Asset Management - Bonds5.5%+0.9pp$163M
Software - Application4.4%-1.8pp$129M
Software - Infrastructure4.0%-0.4pp$117M
Drug Manufacturers - General3.9%+1.5pp$115M
Financial - Credit Services3.8%-1.8pp$112M
Consumer Electronics3.5%-1.3pp$103M
Oil & Gas Exploration & Production3.0%+2.0pp$89M
Country
US95.2%+1.6pp
CA1.6%+0.2pp
Unknown0.9%+0.7pp
CH0.5%+0.3pp
TW0.5%+0.1pp
IL0.4%+0.0pp
IE0.3%-1.2pp
GB0.3%-1.1pp
Top 5: 20.9% · Top 10: 32.7% · Top 25: 52.5%
Top buys this quarter · 15
| CVX Chevron Corporation | +$28M |
| FANG Diamondback Energy, Inc. | +$26M |
| BKR Baker Hughes Company | +$20M |
| CF CF Industries Holdings, Inc.new | +$17M |
| RRC Range Resources Corporation | +$15M |
| PR Permian Resources Corporation | +$11M |
| GILD Gilead Sciences, Inc. | +$9M |
| TPR Tapestry, Inc. | +$9M |
| SOLS Solstice Advanced Materials Innew | +$9M |
| BKD Brookdale Senior Living Inc.new | +$8M |
Top sells this quarter · 15
| AMZN Amazon.com, Inc. | −$47M |
| MSFT Microsoft Corporation | −$39M |
| BX Blackstone Inc.exit | −$28M |
| NVDA NVIDIA Corporation | −$26M |
| LITE Lumentum Holdings Inc. | −$21M |
| MCHP Microchip Technology Incorpora | −$20M |
| DAL Delta Air Lines, Inc.exit | −$17M |
| PODD Insulet Corporationexit | −$17M |
| SPOT Spotify Technology S.A.exit | −$16M |
| ETN Eaton Corporation plc | −$16M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $2.95B | 290 | +27.95% | +17.59% | +10.36% | -0.30B |
| 2025-12-31 | $3.32B | 292 | +19.66% | +17.72% | +1.94% | -0.26B |
| 2025-09-30 | $3.49B | 282 | +21.69% | +17.52% | +4.17% | -0.13B |
| 2025-06-30 | $3.25B | 273 | +13.51% | +14.94% | -1.43% | +0.04B |
| 2025-03-31 | $2.81B | 278 | +2.95% | +8.30% | -5.36% | +0.25B |
| 2024-12-31 | $2.79B | 281 | +25.43% | +24.89% | +0.55% | +0.23B |
| 2024-09-30 | $2.45B | 271 | +35.85% | +36.04% | -0.19% | -0.09B |
| 2024-06-30 | $2.45B | 270 | +23.40% | +24.49% | -1.09% | -0.05B |
| 2024-03-31 | $2.40B | 278 | +28.45% | +29.62% | -1.17% | -0.11B |
| 2023-12-31 | $2.26B | 281 | +25.48% | +26.18% | -0.70% | +0.04B |
| 2023-09-30 | $1.96B | 274 | +19.47% | +21.57% | -2.10% | -0.12B |
| 2023-06-30 | $2.21B | 274 | +24.66% | +19.42% | +5.24% | +0.01B |
| 2023-03-31 | $2.04B | 272 | -3.58% | -7.82% | +4.24% | -0.05B |
| 2022-12-31 | $1.91B | 282 | +116.60% | -18.17% | +134.78% | -0.01B |
| 2022-09-30 | $1.79B | 281 | -1.57% | -4.93% | +3.36% | -0.05B |
| 2022-06-30 | $1.87B | 305 | -16.51% | -16.11% | -0.40% | -0.07B |