Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+2.53%
adds when stocks drop
when a holding falls −10%+
Middle response
-1.54%
baseline attrition
Rally response
-7.00%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $5.63B | 3.8% | +60.9% | 10.5 yr |
| MSFTMicrosoft Corporation | $4.75B | 3.2% | -0.6% | 10.5 yr |
| AMZNAmazon.com, Inc. | $3.16B | 2.1% | +9.5% | 10.5 yr |
| AAPLApple Inc. | $2.96B | 2.0% | +14.7% | 10.5 yr |
| XBIState Street SPDR S&P Bi | $2.70B | 1.8% | — | 10.5 yr |
| TSLATesla, Inc. | $2.63B | 1.8% | +43.4% | 10.5 yr |
| AVGOBroadcom Inc. | $2.42B | 1.6% | +86.0% | 8.0 yr |
| GOOGLAlphabet Inc. | $2.32B | 1.6% | — | 10.3 yr |
| GOOGAlphabet Inc. | $2.24B | 1.5% | +84.3% | 10.5 yr |
| JPMJPMorgan Chase & Co. | $2.07B | 1.4% | +21.8% | 10.5 yr |
| METAMeta Platforms, Inc. | $1.99B | 1.3% | -0.4% | 10.5 yr |
| SPYState Street SPDR S&P 50 | $1.94B | 1.3% | +17.6% | 10.5 yr |
| MUMicron Technology, Inc. | $1.58B | 1.1% | +289.6% | 10.5 yr |
| IWMiShares Russell 2000 ETF | $1.53B | 1.0% | — | 10.5 yr |
| ORCLOracle Corporation | $1.32B | 0.9% | +5.9% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management13.8%+1.2pp$20.57B
Semiconductors12.0%+2.5pp$17.98B
Software - Infrastructure6.0%+1.0pp$8.92B
Internet Content & Information4.7%+0.4pp$6.95B
Specialty Retail3.5%-1.0pp$5.18B
Software - Application2.9%-0.5pp$4.39B
Banks - Diversified2.7%+0.6pp$4.04B
Drug Manufacturers - General2.6%-1.0pp$3.81B
Auto - Manufacturers2.0%+0.4pp$3.04B
Aerospace & Defense2.0%+0.1pp$3.03B
Country
US91.6%-0.1pp
IE1.5%-0.2pp
GB1.2%+0.1pp
Unknown1.0%+0.2pp
NL0.8%+0.4pp
CA0.7%+0.3pp
CN0.4%-0.8pp
TW0.4%+0.1pp
Top 5: 12.9% · Top 10: 20.7% · Top 25: 32.0%
Top buys this quarter · 15
| ORCL Oracle Corporation | +$725M |
| GOOG Alphabet Inc. | +$559M |
| ACN Accenture plc | +$342M |
| WMT Walmart Inc. | +$332M |
| ASML ASML Holding N.V. | +$327M |
| NOW ServiceNow, Inc. | +$267M |
| SNDK Sandisk Corporation | +$252M |
| AVGO Broadcom Inc. | +$2.42B |
| HOOD Robinhood Markets, Inc. | +$218M |
| SPY State Street SPDR S&P 500 ETF | +$203M |
Top sells this quarter · 15
| AAPL Apple Inc. | −$1.87B |
| META Meta Platforms, Inc. | −$803M |
| AMZN Amazon.com, Inc. | −$667M |
| GEV GE Vernova Inc. | −$610M |
| COST Costco Wholesale Corporation | −$547M |
| CSCO Cisco Systems, Inc. | −$430M |
| AMD Advanced Micro Devices, Inc. | −$390M |
| NVDA NVIDIA Corporation | −$381M |
| XOM Exxon Mobil Corporation | −$284M |
| TMUS T-Mobile US, Inc. | −$278M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $149.31B | 4877 | +19.53% | +17.59% | +1.94% | -0.93B |
| 2025-12-31 | $155.90B | 4732 | +19.09% | +17.72% | +1.37% | +26.90B |
| 2025-09-30 | $126.10B | 4575 | +18.48% | +17.52% | +0.96% | -11.27B |
| 2025-06-30 | $126.29B | 4435 | +15.19% | +14.94% | +0.25% | -17.73B |
| 2025-03-31 | $129.21B | 4359 | +4.76% | +8.30% | -3.54% | +6.36B |
| 2024-12-31 | $127.95B | 4374 | +16.51% | +24.89% | -8.38% | +24.18B |
| 2024-09-30 | $101.96B | 3255 | +28.62% | +36.04% | -7.42% | +5.46B |
| 2024-06-30 | $91.25B | 3196 | +17.59% | +24.49% | -6.91% | +10.19B |
| 2024-03-31 | $79.96B | 3206 | +23.07% | +29.62% | -6.55% | +22.27B |
| 2023-12-31 | $54.04B | 3159 | +23.84% | +26.18% | -2.34% | +4.35B |
| 2023-09-30 | $44.22B | 3110 | +17.38% | +21.57% | -4.19% | -3.83B |
| 2023-06-30 | $49.69B | 3166 | +15.32% | +19.42% | -4.11% | +2.09B |
| 2023-03-31 | $44.87B | 3056 | -8.35% | -7.82% | -0.53% | +3.96B |
| 2022-12-31 | $38.07B | 3178 | -18.63% | -18.17% | -0.46% | -0.63B |
| 2022-09-30 | $36.34B | 3871 | -15.15% | -15.51% | +0.36% | -4.06B |
| 2022-06-30 | $42.53B | 3256 | -10.15% | -10.62% | +0.47% | +1.86B |