Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-9.35%
trims when stocks drop
when a holding falls −10%+
Middle response
-0.01%
baseline attrition
Rally response
-9.16%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $1.30B | 6.3% | +60.9% | 9.5 yr |
| AMZNAmazon.com, Inc. | $949M | 4.6% | +9.5% | 10.3 yr |
| MSFTMicrosoft Corporation | $799M | 3.9% | -0.6% | 10.5 yr |
| IVViShares Core S&P 500 ETF | $695M | 3.4% | — | 2.5 yr |
| GOOGAlphabet Inc. | $675M | 3.3% | +84.3% | 10.5 yr |
| AAPLApple Inc. | $592M | 2.9% | +14.7% | 10.5 yr |
| AVGOBroadcom Inc. | $545M | 2.6% | +86.0% | 8.0 yr |
| METAMeta Platforms, Inc. | $505M | 2.4% | -0.4% | 10.5 yr |
| MAMastercard Incorporated | $423M | 2.0% | -8.5% | 9.5 yr |
| LLYEli Lilly and Company | $342M | 1.7% | +12.2% | 7.0 yr |
| GOOGLAlphabet Inc. | $316M | 1.5% | — | 8.8 yr |
| TSMTaiwan Semiconductor Man | $297M | 1.4% | +105.6% | 10.5 yr |
| IEURiShares Core MSCI Europe | $249M | 1.2% | — | 6.0 yr |
| WMTWalmart Inc. | $228M | 1.1% | +42.8% | 7.5 yr |
| DHRDanaher Corporation | $224M | 1.1% | -7.1% | 10.0 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors13.9%+6.8pp$2.86B
Asset Management11.9%-12.3pp$2.45B
Internet Content & Information7.4%+1.6pp$1.52B
Specialty Retail5.9%+1.3pp$1.21B
Software - Infrastructure5.5%-0.4pp$1.14B
Drug Manufacturers - General3.3%+0.3pp$687M
Oil & Gas Midstream3.3%+0.9pp$670M
Banks - Diversified3.0%+0.3pp$624M
Financial - Credit Services3.0%-0.9pp$616M
Consumer Electronics2.9%+0.7pp$596M
Country
US90.8%-1.4pp
CA2.1%+0.4pp
Unknown1.7%+0.5pp
TW1.4%+0.7pp
IE0.9%+0.0pp
CN0.7%+0.1pp
UY0.5%+0.1pp
BM0.5%-0.1pp
Top 5: 21.4% · Top 10: 33.1% · Top 25: 48.8%
Top buys this quarter · 15
| COST Costco Wholesale Corporation | +$79M |
| NEE NextEra Energy, Inc. | +$61M |
| PANW Palo Alto Networks, Inc. | +$61M |
| RTX RTX Corporation | +$59M |
| AVGO Broadcom Inc. | +$545M |
| SLB SLB N.V. | +$46M |
| HWM Howmet Aerospace Inc. | +$45M |
| NU Nu Holdings Ltd. | +$42M |
| STRL Sterling Infrastructure, Inc. | +$40M |
| MCK McKesson Corporation | +$40M |
Top sells this quarter · 15
| MSFT Microsoft Corporation | −$188M |
| UNH UnitedHealth Group Incorporate | −$130M |
| KGC Kinross Gold Corporation | −$80M |
| GOOG Alphabet Inc. | −$79M |
| CEG Constellation Energy Corporati | −$72M |
| PG The Procter & Gamble Company | −$68M |
| BBU Brookfield Business Partners Lexit | −$67M |
| VICI VICI Properties Inc. | −$66M |
| TMO Thermo Fisher Scientific Inc. | −$59M |
| V Visa Inc. | −$58M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $20.62B | 610 | +15.43% | +17.59% | -2.16% | -0.78B |
| 2025-12-31 | $22.79B | 631 | +16.95% | +17.72% | -0.77% | -5.23B |
| 2025-09-30 | $27.50B | 1261 | +17.69% | +17.52% | +0.17% | -1.03B |
| 2025-06-30 | $26.63B | 1268 | +16.44% | +14.94% | +1.50% | -0.01B |
| 2025-03-31 | $23.66B | 1284 | +6.64% | +8.30% | -1.66% | -1.57B |
| 2024-12-31 | $26.52B | 1282 | +22.14% | +24.89% | -2.75% | -0.41B |
| 2024-09-30 | $26.26B | 1258 | +34.54% | +36.04% | -1.49% | -0.65B |
| 2024-06-30 | $25.39B | 1244 | +22.96% | +24.49% | -1.54% | -0.58B |
| 2024-03-31 | $25.19B | 1275 | +28.76% | +29.62% | -0.87% | +4.11B |
| 2023-12-31 | $19.33B | 1253 | +25.76% | +26.18% | -0.42% | -0.89B |
| 2023-09-30 | $17.91B | 1283 | +18.34% | +21.57% | -3.22% | -1.28B |
| 2023-06-30 | $19.80B | 1293 | +16.40% | +19.42% | -3.02% | -1.62B |
| 2023-03-31 | $19.84B | 1124 | -8.38% | -7.82% | -0.56% | -1.05B |
| 2022-12-31 | $19.62B | 1168 | -17.91% | -18.17% | +0.27% | -0.70B |
| 2022-09-30 | $19.12B | 1180 | -14.23% | -15.51% | +1.28% | -1.17B |
| 2022-06-30 | $21.29B | 1209 | -9.46% | -10.62% | +1.16% | -1.66B |