Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+3.04%
adds when stocks drop
when a holding falls −10%+
Middle response
-1.13%
baseline attrition
Rally response
-13.11%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $2.67B | 8.7% | +29.9% | 10.3 yr |
| MSFTMicrosoft Corporation | $2.03B | 6.6% | -11.3% | 10.3 yr |
| AAPLApple Inc. | $1.66B | 5.4% | +1.9% | 10.3 yr |
| GOOGLAlphabet Inc. | $1.30B | 4.2% | — | 10.3 yr |
| AVGOBroadcom Inc. | $1.22B | 4.0% | +34.7% | 7.8 yr |
| AMZNAmazon.com, Inc. | $1.09B | 3.6% | -5.1% | 10.3 yr |
| TOTB.DETotalEnergies SE | $824M | 2.7% | +64.6% | 0.3 yr |
| JPMJPMorgan Chase & Co. | $736M | 2.4% | +25.2% | 10.3 yr |
| METAMeta Platforms, Inc. | $664M | 2.2% | -1.9% | 10.3 yr |
| AZNAstraZeneca PLC | $587M | 1.9% | +56.7% | 0.3 yr |
| GOOGAlphabet Inc. | $530M | 1.7% | +51.3% | 10.3 yr |
| MAMastercard Incorporated | $482M | 1.6% | -4.6% | 10.3 yr |
| BRK-BBerkshire Hathaway Inc. | $423M | 1.4% | — | 10.3 yr |
| MUMicron Technology, Inc. | $338M | 1.1% | +302.8% | 10.0 yr |
| TSLATesla, Inc. | $309M | 1.0% | -7.9% | 10.3 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors18.2%+3.1pp$5.57B
Internet Content & Information8.7%+2.6pp$2.65B
Software - Infrastructure8.7%-0.9pp$2.65B
Consumer Electronics5.5%+0.2pp$1.69B
Drug Manufacturers - General4.9%+1.8pp$1.50B
Specialty Retail4.3%-0.1pp$1.33B
Banks - Diversified3.5%+0.9pp$1.06B
Oil & Gas Integrated3.1%+2.4pp$940M
Software - Application2.7%-1.0pp$835M
Financial - Credit Services2.6%-0.1pp$797M
Country
US87.3%-4.9pp
FR2.7%+2.7pp
GB2.5%+1.7pp
IE1.4%-0.4pp
Unknown1.2%+0.4pp
CA0.8%+0.4pp
TW0.8%+0.1pp
IT0.6%-0.1pp
Top 5: 29.0% · Top 10: 41.8% · Top 25: 56.2%
Top buys this quarter · 15
| TOTB.DE TotalEnergies SEnew | +$731M |
| AZN AstraZeneca PLCnew | +$587M |
| MU Micron Technology, Inc. | +$91M |
| AVGO Broadcom Inc. | +$1.22B |
| IBM International Business Machine | +$74M |
| NVDA NVIDIA Corporation | +$2.67B |
| LMT Lockheed Martin Corporation | +$58M |
| PLTR Palantir Technologies Inc. | +$52M |
| SPOT Spotify Technology S.A. | +$42M |
| LIN Linde plc | +$41M |
Top sells this quarter · 15
| TSLA Tesla, Inc. | −$284M |
| AAPL Apple Inc. | −$205M |
| GOOG Alphabet Inc. | −$164M |
| AMZN Amazon.com, Inc. | −$163M |
| DB Deutsche Bank AG | −$161M |
| MSFT Microsoft Corporation | −$159M |
| PEP PepsiCo, Inc. | −$121M |
| WMT Walmart Inc. | −$113M |
| PG The Procter & Gamble Company | −$110M |
| TSM Taiwan Semiconductor Manufactu | −$103M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $30.59B | 1076 | +8.12% | +1.62% | +6.50% | -3.63B |
| 2025-12-31 | $36.28B | 1068 | +16.14% | +8.91% | +7.23% | +5.81B |
| 2025-09-30 | $30.16B | 967 | +19.79% | +12.19% | +7.60% | -1.86B |
| 2025-03-31 | $26.52B | 1159 | -0.57% | +8.30% | -8.87% | -1.22B |
| 2024-12-31 | $29.51B | 1176 | +14.26% | +24.89% | -10.62% | +10.21B |
| 2024-09-30 | $19.05B | 1152 | +28.02% | +36.04% | -8.01% | +2.07B |
| 2024-06-30 | $16.30B | 1023 | +21.31% | +24.49% | -3.18% | +10.43B |
| 2024-03-31 | $5.85B | 849 | +33.62% | +29.62% | +4.00% | +0.65B |
| 2023-12-31 | $4.82B | 808 | +41.26% | +26.18% | +15.09% | +1.12B |
| 2023-09-30 | $3.26B | 830 | +36.92% | +21.57% | +15.35% | +0.23B |
| 2023-06-30 | $3.08B | 608 | +32.34% | +19.42% | +12.92% | +0.48B |
| 2023-03-31 | $2.35B | 585 | -2.56% | -7.82% | +5.26% | -0.74B |
| 2022-12-31 | $2.71B | 617 | -18.61% | -18.17% | -0.44% | -0.56B |
| 2022-09-30 | $2.97B | 591 | -17.83% | -15.51% | -2.32% | +0.56B |
| 2022-06-30 | $2.52B | 593 | -13.42% | -10.62% | -2.80% | -0.08B |
| 2022-03-31 | $3.21B | 621 | +15.45% | +15.45% | +0.00% | +0.37B |