Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-26.84%
trims when stocks drop
when a holding falls −10%+
Middle response
-7.09%
baseline attrition
Rally response
+4.74%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| TSMTaiwan Semiconductor Man | $3.14B | 10.8% | +105.6% | 3.5 yr |
| GEVGE Vernova Inc. | $2.25B | 7.7% | +186.8% | 2.0 yr |
| LRCXLam Research Corporation | $2.15B | 7.4% | +196.1% | 1.5 yr |
| AMATApplied Materials, Inc. | $1.79B | 6.2% | +137.6% | 3.0 yr |
| AVGOBroadcom Inc. | $1.70B | 5.9% | +86.0% | 7.0 yr |
| ETNEaton Corporation plc | $1.70B | 5.8% | +33.2% | 3.0 yr |
| AMZNAmazon.com, Inc. | $1.65B | 5.7% | +9.5% | 10.5 yr |
| METAMeta Platforms, Inc. | $1.61B | 5.5% | -0.4% | 10.5 yr |
| CEGConstellation Energy Cor | $1.29B | 4.5% | +39.2% | 2.5 yr |
| GOOGLAlphabet Inc. | $1.24B | 4.3% | — | 6.0 yr |
| NVDANVIDIA Corporation | $1.10B | 3.8% | +60.9% | 9.5 yr |
| EQIXEquinix, Inc. | $1.07B | 3.7% | +23.0% | 1.5 yr |
| MSFTMicrosoft Corporation | $918M | 3.2% | -0.6% | 8.8 yr |
| NFLXNetflix, Inc. | $663M | 2.3% | +3.1% | 10.5 yr |
| ASMLASML Holding N.V. | $655M | 2.3% | +100.9% | 1.3 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors37.1%+19.4pp$10.77B
Internet Content & Information14.9%-3.8pp$4.34B
Renewable Utilities12.2%+1.6pp$3.54B
Industrial - Machinery6.1%+0.7pp$1.77B
Specialty Retail5.7%-6.0pp$1.65B
Software - Infrastructure4.3%-3.6pp$1.25B
REIT - Specialty3.7%$1.07B
Entertainment2.3%-0.3pp$663M
Software - Application1.8%-8.1pp$529M
Medical - Diagnostics & Research1.7%$508M
Country
US77.4%+0.8pp
TW10.8%+5.0pp
IE5.8%+0.5pp
NL2.3%
LU2.2%-1.5pp
BR1.5%-1.1pp
Unknown0.0%-0.0pp
Top 5: 37.9% · Top 10: 63.7% · Top 25: 92.6%
Top buys this quarter · 14
| EQIX Equinix, Inc. | +$719M |
| ASML ASML Holding N.V. | +$506M |
| TSM Taiwan Semiconductor Manufactu | +$221M |
| SOLS Solstice Advanced Materials Innew | +$126M |
| LRCX Lam Research Corporation | +$51M |
| SFM Sprouts Farmers Market, Inc. | +$46M |
| CHRW C.H. Robinson Worldwide, Inc. | +$39M |
| VRT Vertiv Holdings Co | +$38M |
| ABR Arbor Realty Trust, Inc.new | +$32M |
| ISRG Intuitive Surgical, Inc. | +$394M |
Top sells this quarter · 15
| MSFT Microsoft Corporation | −$996M |
| GEV GE Vernova Inc. | −$2.20B |
| ORCL Oracle Corporationexit | −$651M |
| TSLA Tesla, Inc. | −$588M |
| DASH DoorDash, Inc. | −$573M |
| MU Micron Technology, Inc. | −$562M |
| META Meta Platforms, Inc. | −$555M |
| SPOT Spotify Technology S.A. | −$548M |
| NVDA NVIDIA Corporation | −$501M |
| AMZN Amazon.com, Inc. | −$417M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $29.06B | 62 | +42.14% | +17.59% | +24.55% | -8.50B |
| 2025-12-31 | $39.96B | 52 | +33.83% | +17.72% | +16.11% | -0.73B |
| 2025-09-30 | $40.79B | 74 | +42.85% | +17.52% | +25.33% | +1.82B |
| 2025-06-30 | $35.90B | 70 | +38.74% | +14.94% | +23.80% | +4.21B |
| 2025-03-31 | $22.68B | 70 | +3.67% | +8.30% | -4.64% | -3.58B |
| 2024-12-31 | $29.68B | 68 | +34.05% | +24.89% | +9.16% | +1.02B |
| 2024-09-30 | $26.92B | 81 | +45.02% | +36.04% | +8.98% | -0.16B |
| 2024-06-30 | $25.69B | 74 | +30.28% | +24.49% | +5.78% | -0.92B |
| 2024-03-31 | $25.50B | 91 | +41.49% | +29.62% | +11.87% | -1.79B |
| 2023-12-31 | $23.84B | 100 | +44.65% | +26.18% | +18.47% | +1.14B |
| 2023-09-30 | $19.71B | 86 | +13.47% | +21.57% | -8.10% | +0.38B |
| 2023-06-30 | $20.41B | 91 | +15.60% | +19.42% | -3.83% | +3.36B |
| 2023-03-31 | $15.04B | 74 | -30.84% | -7.82% | -23.03% | +4.61B |
| 2022-12-31 | $8.92B | 72 | -9.64% | +7.56% | -17.20% | +1.13B |
| 2022-09-30 | $8.61B | 84 | -3.53% | -4.93% | +1.40% | +0.64B |
| 2022-06-30 | $8.26B | 81 | -32.18% | -16.11% | -16.07% | -1.01B |