Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-25.40%
trims when stocks drop
when a holding falls −10%+
Middle response
-14.71%
baseline attrition
Rally response
-6.87%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $2.33B | 9.2% | +60.9% | 10.0 yr |
| AAPLApple Inc. | $1.83B | 7.2% | +14.7% | 10.5 yr |
| MSFTMicrosoft Corporation | $1.23B | 4.9% | -0.6% | 10.5 yr |
| AVGOBroadcom Inc. | $922M | 3.6% | +86.0% | 8.0 yr |
| GOOGAlphabet Inc. | $622M | 2.5% | +84.3% | 10.5 yr |
| GOOGLAlphabet Inc. | $527M | 2.1% | — | 10.5 yr |
| AMZNAmazon.com, Inc. | $513M | 2.0% | +9.5% | 10.5 yr |
| LLYEli Lilly and Company | $418M | 1.6% | +12.2% | 10.5 yr |
| METAMeta Platforms, Inc. | $406M | 1.6% | -0.4% | 10.5 yr |
| BKNGBooking Holdings Inc. | $318M | 1.3% | -96.3% | 8.3 yr |
| TAT&T Inc. | $316M | 1.2% | +5.9% | 10.5 yr |
| ABBVAbbVie Inc. | $274M | 1.1% | +7.3% | 10.5 yr |
| NEMNewmont Corporation | $261M | 1.0% | +127.1% | 10.0 yr |
| BMYBristol-Myers Squibb Com | $258M | 1.0% | +3.4% | 10.5 yr |
| APHAmphenol Corporation | $246M | 1.0% | +93.6% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors16.7%+6.9pp$4.24B
Consumer Electronics7.2%+0.5pp$1.84B
Internet Content & Information6.4%-1.4pp$1.62B
Software - Infrastructure5.9%-2.1pp$1.50B
Drug Manufacturers - General4.6%-2.3pp$1.18B
Aerospace & Defense3.3%+0.5pp$839M
Biotechnology2.9%+1.9pp$730M
Specialty Retail2.6%-1.4pp$656M
Oil & Gas Refining & Marketing2.3%+2.3pp$590M
Hardware, Equipment & Parts2.3%+0.5pp$573M
Country
US95.1%-1.4pp
IE2.0%+0.7pp
Unknown0.8%+0.7pp
CA0.4%-0.1pp
LU0.3%+0.1pp
BR0.3%+0.3pp
BM0.3%+0.1pp
GB0.2%+0.0pp
Top 5: 27.3% · Top 10: 35.9% · Top 25: 49.8%
Top buys this quarter · 15
| T AT&T Inc. | +$278M |
| VICI VICI Properties Inc. | +$195M |
| XOM Exxon Mobil Corporation | +$185M |
| LLY Eli Lilly and Company | +$179M |
| AMAT Applied Materials, Inc. | +$126M |
| VLO Valero Energy Corporation | +$122M |
| MRVL Marvell Technology, Inc. | +$113M |
| MORN Morningstar, Inc. | +$109M |
| EXE Expand Energy Corporation | +$104M |
| SYY Sysco Corporation | +$100M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $25.38B | 2374 | +22.15% | +17.59% | +4.55% | -2.02B |
| 2025-12-31 | $28.69B | 2497 | +20.21% | +17.72% | +2.49% | -1.59B |
| 2025-09-30 | $29.48B | 1342 | +20.01% | +17.52% | +2.50% | +0.25B |
| 2025-06-30 | $26.72B | 1319 | +16.17% | +14.94% | +1.22% | +0.97B |
| 2025-03-31 | $22.62B | 1077 | +4.18% | +8.30% | -4.12% | -0.52B |
| 2024-12-31 | $24.62B | 1097 | +20.55% | +24.89% | -4.34% | -0.77B |
| 2024-09-30 | $24.76B | 1151 | +32.32% | +36.04% | -3.72% | -4.84B |
| 2024-06-30 | $27.96B | 1162 | +21.34% | +24.49% | -3.15% | -1.93B |
| 2024-03-31 | $29.28B | 1123 | +28.38% | +29.62% | -1.24% | +0.17B |
| 2023-12-31 | $26.77B | 1118 | +25.99% | +26.18% | -0.18% | +0.24B |
| 2023-09-30 | $23.56B | 1101 | +19.26% | +21.57% | -2.31% | -0.64B |
| 2023-06-30 | $24.92B | 1147 | +16.88% | +19.42% | -2.54% | +0.59B |
| 2023-03-31 | $22.53B | 1151 | -7.26% | -7.82% | +0.55% | +0.54B |
| 2022-12-31 | $20.59B | 1181 | +6.56% | +7.56% | -1.00% | +0.04B |
| 2022-09-30 | $19.29B | 1209 | -4.86% | -4.93% | +0.07% | -0.06B |
| 2022-06-30 | $20.33B | 1305 | -14.30% | -16.11% | +1.81% | -1.48B |