Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-3.66%
trims when stocks drop
when a holding falls −10%+
Middle response
-0.42%
baseline attrition
Rally response
+0.34%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| GVIiShares Intermediate Gov | $293M | 5.0% | — | 2.0 yr |
| AAPLApple Inc. | $283M | 4.9% | +14.7% | 10.5 yr |
| NVDANVIDIA Corporation | $270M | 4.6% | +60.9% | 3.0 yr |
| MSFTMicrosoft Corporation | $232M | 4.0% | -0.6% | 10.5 yr |
| GOOGLAlphabet Inc. | $220M | 3.8% | — | 10.5 yr |
| JIREJPMorgan International R | $154M | 2.6% | — | 1.0 yr |
| VEAVanguard FTSE Developed | $153M | 2.6% | — | 4.8 yr |
| AVGOBroadcom Inc. | $152M | 2.6% | +86.0% | 8.0 yr |
| AMZNAmazon.com, Inc. | $146M | 2.5% | +9.5% | 10.5 yr |
| IVViShares Core S&P 500 ETF | $133M | 2.3% | — | 10.5 yr |
| XOMExxon Mobil Corporation | $118M | 2.0% | +47.6% | 10.5 yr |
| JPMJPMorgan Chase & Co. | $117M | 2.0% | +21.8% | 10.5 yr |
| LLYEli Lilly and Company | $115M | 2.0% | +12.2% | 10.5 yr |
| WMTWalmart Inc. | $109M | 1.9% | +42.8% | 10.5 yr |
| SPYState Street SPDR S&P 50 | $103M | 1.8% | +17.6% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management25.4%+1.7pp$1.48B
Semiconductors10.1%+2.6pp$589M
Internet Content & Information5.5%+0.9pp$319M
Software - Infrastructure5.4%-1.4pp$315M
Consumer Electronics4.9%-0.1pp$283M
Drug Manufacturers - General4.2%-0.1pp$246M
Specialty Retail3.6%+0.5pp$212M
Banks - Diversified3.4%+0.1pp$199M
Industrial - Machinery3.0%-0.1pp$176M
Financial - Credit Services2.4%-1.3pp$139M
Country
US96.8%-0.9pp
IE1.3%+0.0pp
GB0.9%+0.1pp
SG0.4%
DK0.2%+0.1pp
CA0.1%+0.1pp
CH0.1%+0.1pp
UY0.1%+0.1pp
Top 5: 22.3% · Top 10: 35.0% · Top 25: 57.8%
Top buys this quarter · 15
| AMD Advanced Micro Devices, Inc. | +$33M |
| UNP Union Pacific Corporation | +$26M |
| DIS The Walt Disney Company | +$23M |
| ORLY O'Reilly Automotive, Inc. | +$20M |
| DKS DICK'S Sporting Goods, Inc. | +$19M |
| MCK McKesson Corporation | +$16M |
| GS The Goldman Sachs Group, Inc. | +$14M |
| CEG Constellation Energy Corporati | +$14M |
| APH Amphenol Corporation | +$14M |
| DGX Quest Diagnostics Incorporated | +$13M |
Top sells this quarter · 15
| NFLX Netflix, Inc. | −$25M |
| NOW ServiceNow, Inc. | −$23M |
| SPY State Street SPDR S&P 500 ETF | −$21M |
| WMT Walmart Inc. | −$21M |
| AVGO Broadcom Inc. | −$16M |
| ECL Ecolab Inc. | −$15M |
| APD Air Products and Chemicals, In | −$15M |
| MDLZ Mondelez International, Inc. | −$13M |
| JPM JPMorgan Chase & Co. | −$12M |
| ORCL Oracle Corporation | −$11M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $5.82B | 1066 | +16.63% | +17.59% | -0.96% | +0.27B |
| 2025-12-31 | $5.79B | 1161 | +15.71% | +17.72% | -2.00% | +0.09B |
| 2025-09-30 | $5.63B | 1004 | +15.10% | +17.52% | -2.42% | -0.03B |
| 2025-06-30 | $5.25B | 923 | +13.30% | +14.94% | -1.64% | -0.43B |
| 2025-03-31 | $5.10B | 981 | +3.87% | +8.30% | -4.43% | -0.02B |
| 2024-12-31 | $5.37B | 932 | +19.90% | +24.89% | -4.99% | -0.24B |
| 2024-09-30 | $5.57B | 913 | +34.22% | +36.04% | -1.81% | +2.94B |
| 2024-06-30 | $2.48B | 194 | +20.60% | +24.49% | -3.89% | +0.03B |
| 2024-03-31 | $2.40B | 201 | +27.11% | +29.62% | -2.51% | -0.02B |
| 2023-12-31 | $2.20B | 204 | +21.84% | +26.18% | -4.34% | -0.07B |
| 2023-09-30 | $2.01B | 201 | +18.92% | +21.57% | -2.65% | +0.01B |
| 2023-06-30 | $2.10B | 198 | +18.59% | +19.42% | -0.84% | -0.04B |
| 2023-03-31 | $1.99B | 195 | -4.89% | -7.82% | +2.93% | +0.02B |
| 2022-12-31 | $1.87B | 199 | -13.86% | -18.17% | +4.32% | -0.06B |
| 2022-09-30 | $1.75B | 193 | -13.12% | -15.51% | +2.38% | -0.04B |
| 2022-06-30 | $1.88B | 193 | -8.12% | -10.62% | +2.50% | +0.02B |