Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-15.05%
trims when stocks drop
when a holding falls −10%+
Middle response
-9.49%
baseline attrition
Rally response
-14.80%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $1.96B | 1.7% | +60.9% | 8.0 yr |
| AAPLApple Inc. | $1.51B | 1.3% | +14.7% | 9.3 yr |
| AMZNAmazon.com, Inc. | $1.32B | 1.1% | +9.5% | 10.0 yr |
| GOOGLAlphabet Inc. | $1.27B | 1.1% | — | 9.0 yr |
| TSLATesla, Inc. | $1.08B | 0.9% | +43.4% | 8.0 yr |
| JPMJPMorgan Chase & Co. | $974M | 0.8% | +21.8% | 9.3 yr |
| PLTRPalantir Technologies In | $941M | 0.8% | +73.3% | 4.5 yr |
| COSTCostco Wholesale Corpora | $872M | 0.7% | +5.9% | 7.8 yr |
| TJXThe TJX Companies, Inc. | $837M | 0.7% | +32.7% | 8.3 yr |
| MAMastercard Incorporated | $837M | 0.7% | -8.5% | 10.3 yr |
| TMUST-Mobile US, Inc. | $817M | 0.7% | -19.9% | 6.0 yr |
| LMTLockheed Martin Corporat | $815M | 0.7% | +39.0% | 11.3 yr |
| BRK-BBerkshire Hathaway Inc. | $777M | 0.7% | — | 4.0 yr |
| MUMicron Technology, Inc. | $774M | 0.7% | +289.6% | 9.8 yr |
| ADBEAdobe Inc. | $761M | 0.6% | -36.6% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management8.0%-7.1pp$9.31B
Semiconductors6.0%+1.3pp$7.00B
Biotechnology5.3%+1.4pp$6.15B
Software - Application4.0%-1.6pp$4.64B
Software - Infrastructure3.7%-0.8pp$4.27B
Banks - Regional2.7%+0.7pp$3.20B
Aerospace & Defense2.5%-0.0pp$2.98B
Medical - Devices2.5%+0.5pp$2.95B
Specialty Retail2.3%+0.7pp$2.69B
Unknown2.2%-0.5pp$2.52B
Country
US86.0%+0.1pp
CA3.8%+0.5pp
Unknown2.2%-0.5pp
IE1.2%+0.4pp
GB0.9%-0.2pp
BR0.7%+0.2pp
NL0.6%+0.1pp
BM0.6%+0.3pp
Top 5: 6.1% · Top 10: 9.9% · Top 25: 18.9%
Top buys this quarter · 15
| NVDA NVIDIA Corporation | +$1.75B |
| AAPL Apple Inc. | +$1.28B |
| AMZN Amazon.com, Inc. | +$1.08B |
| TSLA Tesla, Inc. | +$872M |
| JPM JPMorgan Chase & Co. | +$853M |
| PLTR Palantir Technologies Inc. | +$712M |
| AVGO Broadcom Inc. | +$688M |
| ABT Abbott Laboratories | +$653M |
| MA Mastercard Incorporated | +$615M |
| COST Costco Wholesale Corporation | +$613M |
Top sells this quarter · 15
| AMGN Amgen Inc. | −$221M |
| PG The Procter & Gamble Company | −$205M |
| ETN Eaton Corporation plc | −$198M |
| MCD McDonald's Corporation | −$177M |
| TXN Texas Instruments Incorporated | −$168M |
| CB Chubb Limited | −$166M |
| T AT&T Inc. | −$156M |
| BA The Boeing Company | −$152M |
| AL Air Lease Corporation | −$132M |
| INTC Intel Corporation | −$129M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $117.03B | 3587 | +24.24% | +17.59% | +6.65% | +53.63B |
| 2025-12-31 | $63.49B | 3365 | +20.50% | +17.72% | +2.78% | -0.29B |
| 2025-09-30 | $62.16B | 3267 | +20.17% | +17.52% | +2.65% | +4.13B |
| 2025-06-30 | $53.53B | 3019 | +19.48% | +14.94% | +4.54% | +3.84B |
| 2025-03-31 | $44.42B | 3026 | +5.46% | +8.30% | -2.84% | +3.85B |
| 2024-12-31 | $41.89B | 3021 | +13.03% | +24.89% | -11.86% | -2.06B |
| 2024-09-30 | $42.96B | 2966 | +22.23% | +36.04% | -13.80% | -1.16B |
| 2024-06-30 | $40.93B | 2852 | +6.98% | +24.49% | -17.51% | +1.80B |
| 2024-03-31 | $39.63B | 2861 | +14.20% | +29.62% | -15.42% | -1.70B |
| 2023-12-31 | $39.82B | 2976 | +18.42% | +26.18% | -7.76% | +1.97B |
| 2023-09-30 | $34.21B | 2804 | +13.72% | +21.57% | -7.85% | +0.09B |
| 2023-06-30 | $36.16B | 2843 | +4.14% | +19.42% | -15.29% | +1.95B |
| 2023-03-31 | $32.46B | 2807 | -25.79% | -7.82% | -17.97% | -0.00B |
| 2022-12-31 | $30.16B | 2674 | -34.23% | -18.17% | -16.05% | +0.19B |
| 2022-09-30 | $28.20B | 2358 | -31.26% | -15.51% | -15.75% | +3.07B |
| 2022-06-30 | $29.09B | 2351 | -19.97% | -10.62% | -9.35% | +4.60B |