Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+2.36%
adds when stocks drop
when a holding falls −10%+
Middle response
+2.86%
steady accumulation
Rally response
+2.02%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $104.56B | 6.5% | +60.9% | 10.5 yr |
| AAPLApple Inc. | $93.30B | 5.8% | +14.7% | 10.5 yr |
| MSFTMicrosoft Corporation | $69.60B | 4.3% | -0.6% | 10.5 yr |
| AMZNAmazon.com, Inc. | $48.42B | 3.0% | +9.5% | 10.5 yr |
| GOOGLAlphabet Inc. | $43.55B | 2.7% | — | 10.5 yr |
| AVGOBroadcom Inc. | $35.28B | 2.2% | +86.0% | 8.0 yr |
| GOOGAlphabet Inc. | $31.89B | 2.0% | +84.3% | 10.5 yr |
| METAMeta Platforms, Inc. | $30.88B | 1.9% | -0.4% | 10.5 yr |
| TSLATesla, Inc. | $25.18B | 1.6% | +43.4% | 10.5 yr |
| BRK-BBerkshire Hathaway Inc. | $19.68B | 1.2% | — | 10.5 yr |
| LLYEli Lilly and Company | $18.51B | 1.2% | +12.2% | 10.5 yr |
| JPMJPMorgan Chase & Co. | $18.34B | 1.1% | +21.8% | 10.5 yr |
| XOMExxon Mobil Corporation | $16.13B | 1.0% | +47.6% | 10.5 yr |
| JNJJohnson & Johnson | $14.42B | 0.9% | +51.5% | 10.5 yr |
| VVisa Inc. | $13.54B | 0.8% | -13.1% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors12.9%+4.1pp$207.34B
Internet Content & Information6.8%+1.3pp$109.98B
Software - Infrastructure6.3%-0.9pp$101.36B
Consumer Electronics5.8%-0.3pp$93.89B
Drug Manufacturers - General4.3%+0.1pp$69.01B
Specialty Retail3.7%-0.3pp$60.19B
Banks - Diversified2.9%+0.2pp$47.24B
Aerospace & Defense2.3%+0.4pp$37.53B
Software - Application2.2%-1.0pp$36.04B
Financial - Credit Services2.2%-0.6pp$34.96B
Country
US95.0%-0.5pp
CA1.5%+0.7pp
IE1.2%-0.2pp
GB0.6%-0.0pp
Unknown0.6%+0.0pp
CH0.3%-0.0pp
SG0.2%+0.1pp
BM0.2%-0.0pp
Top 5: 22.4% · Top 10: 31.3% · Top 25: 42.4%
Top buys this quarter · 15
| AAPL Apple Inc. | +$93.30B |
| NVDA NVIDIA Corporation | +$104.56B |
| MSFT Microsoft Corporation | +$69.60B |
| AMZN Amazon.com, Inc. | +$48.42B |
| AMAT Applied Materials, Inc. | +$1.13B |
| GOOG Alphabet Inc. | +$31.89B |
| VRT Vertiv Holdings Co | +$956M |
| AVGO Broadcom Inc. | +$35.28B |
| TSLA Tesla, Inc. | +$25.18B |
| META Meta Platforms, Inc. | +$30.88B |
Top sells this quarter · 15
| EXAS Exact Sciences Corporationexit | −$346M |
| CFLT Confluent, Inc.exit | −$177M |
| PNFP Pinnacle Financial Partners, Iexit | −$136M |
| HSY The Hershey Company | −$132M |
| DVN Devon Energy Corporation | −$700M |
| CHRD Chord Energy Corporation | −$122M |
| C Citigroup Inc. | −$107M |
| TGNA TEGNA Inc.exit | −$101M |
| EQIX Equinix, Inc. | −$1.96B |
| D Dominion Energy, Inc. | −$85M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.61T | 4503 | +18.04% | +17.59% | +0.45% | +51.48B |
| 2025-12-31 | $1.62T | 4459 | +16.85% | +17.72% | -0.87% | +20.58B |
| 2025-09-30 | $1.57T | 4463 | +17.14% | +17.52% | -0.38% | +24.07B |
| 2025-06-30 | $1.43T | 4434 | +15.28% | +14.94% | +0.34% | +10.27B |
| 2025-03-31 | $1.27T | 4465 | +5.10% | +8.30% | -3.20% | +45.23B |
| 2024-12-31 | $1.29T | 4460 | +18.85% | +24.89% | -6.03% | +27.31B |
| 2024-09-30 | $1.23T | 4522 | +29.97% | +36.04% | -6.07% | +21.81B |
| 2024-06-30 | $1.14T | 4573 | +17.20% | +24.49% | -7.29% | +41.60B |
| 2024-03-31 | $1.08T | 4597 | +24.02% | +29.62% | -5.60% | +53.80B |
| 2023-12-31 | $955.46B | 4640 | +23.09% | +26.18% | -3.08% | +16.67B |
| 2023-09-30 | $839.24B | 4746 | +16.55% | +21.57% | -5.02% | +22.56B |
| 2023-06-30 | $850.65B | 4741 | +14.98% | +19.42% | -4.45% | +23.71B |
| 2023-03-31 | $769.74B | 4791 | -11.40% | -7.82% | -3.58% | +9.84B |
| 2022-12-31 | $712.25B | 4883 | -18.87% | -18.17% | -0.70% | +14.37B |
| 2022-09-30 | $658.93B | 5013 | -14.92% | -15.51% | +0.59% | +12.71B |
| 2022-06-30 | $682.29B | 4996 | -9.66% | -10.62% | +0.96% | +19.39B |