Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-3.59%
trims when stocks drop
when a holding falls −10%+
Middle response
+0.84%
steady accumulation
Rally response
+1.77%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| SYKStryker Corporation | $5.24B | 51.5% | -11.1% | 10.5 yr |
| IVViShares Core S&P 500 ETF | $913M | 9.0% | — | 10.5 yr |
| SPLGSPDR Portfolio S&P 500 E | $490M | 4.8% | — | 5.3 yr |
| IEFAiShares Core MSCI EAFE E | $193M | 1.9% | — | 9.3 yr |
| AAPLApple Inc. | $162M | 1.6% | +14.7% | 10.5 yr |
| JAAAJanus Henderson AAA CLO | $113M | 1.1% | — | 0.5 yr |
| MSFTMicrosoft Corporation | $108M | 1.1% | -0.6% | 10.5 yr |
| IJHiShares Core S&P Mid-Cap | $106M | 1.0% | — | 10.5 yr |
| NVDANVIDIA Corporation | $99M | 1.0% | +60.9% | 9.3 yr |
| AMZNAmazon.com, Inc. | $97M | 1.0% | +9.5% | 9.8 yr |
| IEFiShares 7-10 Year Treasu | $92M | 0.9% | — | 7.3 yr |
| GOOGAlphabet Inc. | $89M | 0.9% | +84.3% | 10.5 yr |
| EEMiShares MSCI Emerging Ma | $83M | 0.8% | — | 10.5 yr |
| GOOGLAlphabet Inc. | $83M | 0.8% | — | 10.5 yr |
| VVisa Inc. | $71M | 0.7% | -13.1% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Medical - Devices51.6%-6.8pp$5.26B
Asset Management25.7%+5.8pp$2.62B
Semiconductors2.4%+0.9pp$243M
Internet Content & Information2.3%+0.7pp$234M
Consumer Electronics1.6%+0.1pp$163M
Asset Management - Bonds1.5%+0.8pp$150M
Software - Infrastructure1.3%-0.1pp$131M
Specialty Retail1.1%+0.1pp$109M
Financial - Credit Services0.9%-1.2pp$96M
Drug Manufacturers - General0.8%-0.0pp$84M
Country
US98.3%-0.4pp
TW0.4%+0.2pp
Unknown0.3%+0.1pp
IE0.2%+0.0pp
GB0.2%+0.0pp
CH0.1%+0.0pp
JP0.1%+0.0pp
CA0.1%+0.0pp
Top 5: 68.7% · Top 10: 73.9% · Top 25: 83.4%
Top buys this quarter · 15
| CPRT Copart, Inc. | +$7M |
| XOM Exxon Mobil Corporation | +$2M |
| RTX RTX Corporation | +$1M |
| HD The Home Depot, Inc. | +$1M |
| PANW Palo Alto Networks, Inc. | +$1M |
| CRM Salesforce, Inc. | +$19M |
| ROP Roper Technologies, Inc. | +$14M |
| FITB Fifth Third Bancorp | +$1M |
| INTC Intel Corporation | +$1M |
| AMZN Amazon.com, Inc. | +$97M |
Top sells this quarter · 15
| SYK Stryker Corporation | −$206M |
| PYPL PayPal Holdings, Inc. | −$8M |
| TJX The TJX Companies, Inc. | −$7M |
| GOOG Alphabet Inc. | −$3M |
| MU Micron Technology, Inc. | −$3M |
| TSM Taiwan Semiconductor Manufactu | −$37M |
| VRT Vertiv Holdings Co | −$0M |
| GS The Goldman Sachs Group, Inc. | −$2M |
| BBVA Banco Bilbao Vizcaya Argentari | −$2M |
| NVDA NVIDIA Corporation | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $10.18B | 804 | -5.14% | +17.59% | -22.73% | -0.05B |
| 2025-12-31 | $10.91B | 816 | +2.84% | +17.72% | -14.88% | +0.21B |
| 2025-09-30 | $11.00B | 804 | +6.26% | +17.52% | -11.26% | +0.04B |
| 2025-06-30 | $11.31B | 797 | +16.48% | +14.94% | +1.54% | -0.47B |
| 2025-03-31 | $10.97B | 797 | +5.05% | +8.30% | -3.26% | -0.20B |
| 2024-12-31 | $10.99B | 806 | +20.93% | +24.89% | -3.96% | -0.31B |
| 2024-09-30 | $11.24B | 832 | +32.92% | +36.04% | -3.12% | +0.04B |
| 2024-06-30 | $10.54B | 792 | +14.07% | +24.49% | -10.42% | +0.12B |
| 2024-03-31 | $10.76B | 776 | +26.26% | +29.62% | -3.36% | -0.15B |
| 2023-12-31 | $9.33B | 750 | +24.06% | +26.18% | -2.12% | -0.25B |
| 2023-09-30 | $8.67B | 743 | +32.38% | +21.57% | +10.81% | +0.10B |
| 2023-06-30 | $9.41B | 766 | +46.11% | +19.42% | +26.69% | -0.08B |
| 2023-03-31 | $8.85B | 771 | +4.61% | -7.82% | +12.43% | -0.23B |
| 2022-12-31 | $7.90B | 744 | -13.20% | -18.17% | +4.98% | -0.06B |
| 2022-09-30 | $6.76B | 707 | -18.18% | -15.51% | -2.67% | +0.11B |
| 2022-06-30 | $6.61B | 712 | -18.19% | -10.62% | -7.57% | +0.18B |