Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+0.97%
adds when stocks drop
when a holding falls −10%+
Middle response
-1.60%
baseline attrition
Rally response
-4.05%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $6.88B | 6.4% | +60.9% | 10.3 yr |
| AAPLApple Inc. | $5.65B | 5.3% | +14.7% | 10.3 yr |
| MSFTMicrosoft Corporation | $4.91B | 4.6% | -0.6% | 10.3 yr |
| AMZNAmazon.com, Inc. | $3.12B | 2.9% | +9.5% | 10.3 yr |
| AVGOBroadcom Inc. | $3.04B | 2.8% | +86.0% | 7.8 yr |
| GOOGLAlphabet Inc. | $2.52B | 2.3% | — | 10.3 yr |
| GOOGAlphabet Inc. | $2.47B | 2.3% | +84.3% | 10.3 yr |
| LLYEli Lilly and Company | $1.33B | 1.2% | +12.2% | 10.3 yr |
| LRCXLam Research Corporation | $1.27B | 1.2% | +196.1% | 1.3 yr |
| CSCOCisco Systems, Inc. | $1.27B | 1.2% | +28.1% | 10.3 yr |
| METAMeta Platforms, Inc. | $1.26B | 1.2% | -0.4% | 10.3 yr |
| JNJJohnson & Johnson | $1.14B | 1.1% | +51.5% | 10.3 yr |
| TJXThe TJX Companies, Inc. | $1.13B | 1.1% | +32.7% | 10.3 yr |
| MAMastercard Incorporated | $1.12B | 1.0% | -8.5% | 10.3 yr |
| TTTrane Technologies plc | $1.07B | 1.0% | +24.8% | 6.0 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors13.5%+6.1pp$14.47B
Software - Infrastructure7.5%-1.3pp$8.05B
Internet Content & Information6.6%+1.5pp$7.06B
Drug Manufacturers - General6.5%+0.7pp$6.98B
Consumer Electronics5.3%+0.3pp$5.66B
Specialty Retail4.2%+0.2pp$4.55B
Financial - Credit Services3.0%-1.3pp$3.24B
Industrial - Machinery2.8%+0.5pp$2.96B
Banks - Diversified2.5%+0.6pp$2.73B
Software - Application2.2%-2.4pp$2.32B
Country
US93.8%-1.4pp
IE2.2%+0.7pp
GB1.5%+0.5pp
Unknown0.6%+0.3pp
CN0.4%-0.0pp
CA0.3%+0.0pp
LU0.2%+0.1pp
IL0.2%-0.1pp
Top 5: 22.0% · Top 10: 30.3% · Top 25: 44.2%
Top buys this quarter · 15
| AMZN Amazon.com, Inc. | +$3.12B |
| DELL Dell Technologies Inc. | +$229M |
| AAPL Apple Inc. | +$5.65B |
| FERG Ferguson plc | +$176M |
| VZ Verizon Communications Inc. | +$172M |
| HCA HCA Healthcare, Inc. | +$172M |
| NEE NextEra Energy, Inc. | +$158M |
| DG Dollar General Corporation | +$157M |
| WAB Westinghouse Air Brake Technol | +$122M |
| MU Micron Technology, Inc. | +$110M |
Top sells this quarter · 15
| TMUS T-Mobile US, Inc. | −$348M |
| CL Colgate-Palmolive Company | −$298M |
| LRCX Lam Research Corporation | −$259M |
| MSFT Microsoft Corporation | −$249M |
| MRK Merck & Co., Inc. | −$246M |
| JNJ Johnson & Johnson | −$1.13B |
| VRTX Vertex Pharmaceuticals Incorpo | −$188M |
| HPE Hewlett Packard Enterprise Com | −$164M |
| PGR The Progressive Corporation | −$153M |
| RRX Regal Rexnord Corporation | −$137M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $107.19B | 863 | +14.60% | +17.59% | -2.99% | -3.95B |
| 2025-12-31 | $116.45B | 858 | +16.11% | +17.72% | -1.61% | -0.38B |
| 2025-09-30 | $114.17B | 845 | +14.10% | +17.52% | -3.41% | -0.91B |
| 2025-06-30 | $107.78B | 861 | +14.47% | +14.94% | -0.47% | +3.71B |
| 2025-03-31 | $94.69B | 875 | +4.08% | +8.30% | -4.23% | +2.26B |
| 2024-12-31 | $95.58B | 882 | +16.74% | +24.89% | -8.14% | +7.06B |
| 2024-09-30 | $88.04B | 892 | +27.84% | +36.04% | -8.19% | -3.26B |
| 2024-06-30 | $85.23B | 909 | +13.56% | +24.49% | -10.93% | +0.69B |
| 2024-03-31 | $84.60B | 926 | +20.85% | +29.62% | -8.78% | -0.81B |
| 2023-12-31 | $78.75B | 941 | +17.80% | +26.18% | -8.38% | -0.54B |
| 2023-09-30 | $72.01B | 954 | +17.00% | +21.57% | -4.57% | +2.47B |
| 2023-06-30 | $73.08B | 953 | +16.62% | +19.42% | -2.81% | +0.17B |
| 2023-03-31 | $68.56B | 951 | -3.76% | -7.82% | +4.06% | +0.62B |
| 2022-12-31 | $64.26B | 943 | +9.37% | +7.56% | +1.81% | -3.36B |
| 2022-09-30 | $61.82B | 962 | -5.17% | -4.93% | -0.24% | -2.07B |
| 2022-06-30 | $67.37B | 962 | -12.23% | -16.11% | +3.88% | -2.53B |