Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-31.71%
trims when stocks drop
when a holding falls −10%+
Middle response
-6.95%
baseline attrition
Rally response
-37.27%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| AMZNAmazon.com, Inc. | $905M | 1.9% | +9.5% | 10.3 yr |
| NVDANVIDIA Corporation | $735M | 1.5% | +60.9% | 8.5 yr |
| WBDWarner Bros. Discovery, | $690M | 1.4% | +155.9% | 3.0 yr |
| METAMeta Platforms, Inc. | $667M | 1.4% | -0.4% | 9.8 yr |
| AAPLApple Inc. | $593M | 1.2% | +14.7% | 9.5 yr |
| GOOGLAlphabet Inc. | $451M | 0.9% | — | 10.0 yr |
| RTXRTX Corporation | $428M | 0.9% | +48.1% | 4.8 yr |
| KVUEKenvue Inc. | $423M | 0.9% | -25.0% | 1.0 yr |
| TXNMTXNM Energy, Inc. | $417M | 0.9% | +12.5% | 7.5 yr |
| NSCNorfolk Southern Corpora | $384M | 0.8% | +23.6% | 8.3 yr |
| HOLXHologic, Inc. | $357M | 0.7% | +22.4% | 7.3 yr |
| ROSTRoss Stores, Inc. | $340M | 0.7% | +71.2% | 8.5 yr |
| TGTTarget Corporation | $316M | 0.7% | +21.5% | 7.8 yr |
| STZConstellation Brands, In | $314M | 0.7% | -16.1% | 8.8 yr |
| JCIJohnson Controls Interna | $303M | 0.6% | +65.7% | 7.0 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors6.0%+1.4pp$2.86B
Specialty Retail4.5%+0.4pp$2.16B
Biotechnology4.2%+2.7pp$2.03B
Internet Content & Information3.4%+1.4pp$1.64B
Industrial - Machinery3.2%+1.9pp$1.55B
Asset Management3.2%-3.9pp$1.54B
Regulated Electric2.7%+1.0pp$1.29B
Banks - Regional2.5%-0.3pp$1.22B
Aerospace & Defense2.4%+0.2pp$1.17B
Entertainment2.4%+1.4pp$1.16B
Country
US87.8%-0.0pp
Unknown2.3%+0.2pp
IE2.0%+0.1pp
GB1.8%+0.4pp
CA1.5%+0.3pp
SG0.7%+0.0pp
NL0.6%+0.4pp
CN0.4%-0.2pp
Top 5: 7.5% · Top 10: 11.9% · Top 25: 20.9%
Top buys this quarter · 15
| META Meta Platforms, Inc. | +$559M |
| WBD Warner Bros. Discovery, Inc. | +$438M |
| AAPL Apple Inc. | +$425M |
| RTX RTX Corporation | +$421M |
| STZ Constellation Brands, Inc. | +$311M |
| TGT Target Corporation | +$306M |
| CTRA Coterra Energy Inc. | +$281M |
| TMO Thermo Fisher Scientific Inc. | +$269M |
| ODFL Old Dominion Freight Line, Inc | +$254M |
| SLAB Silicon Laboratories Inc. | +$246M |
Top sells this quarter · 15
| MSFT Microsoft Corporation | −$444M |
| EXAS Exact Sciences Corporationexit | −$425M |
| EA Electronic Arts Inc. | −$392M |
| TSM Taiwan Semiconductor Manufactu | −$349M |
| AVGO Broadcom Inc. | −$308M |
| NVDA NVIDIA Corporation | −$300M |
| TSLA Tesla, Inc. | −$293M |
| MU Micron Technology, Inc. | −$286M |
| EBAY eBay Inc. | −$273M |
| PG The Procter & Gamble Company | −$256M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $48.01B | 1995 | +21.01% | +17.59% | +3.41% | -2.65B |
| 2025-12-31 | $51.15B | 2073 | +17.54% | +17.72% | -0.17% | +1.07B |
| 2025-09-30 | $48.01B | 1898 | +15.16% | +17.52% | -2.35% | +1.22B |
| 2025-06-30 | $43.43B | 1908 | +15.03% | +14.94% | +0.09% | +0.62B |
| 2025-03-31 | $39.37B | 1931 | +4.38% | +8.30% | -3.92% | -1.25B |
| 2024-12-31 | $42.23B | 1845 | +9.08% | +24.89% | -15.81% | +3.47B |
| 2024-09-30 | $37.93B | 1857 | +16.03% | +36.04% | -20.01% | -2.91B |
| 2024-06-30 | $37.95B | 1831 | +10.94% | +24.49% | -13.55% | +0.80B |
| 2024-03-31 | $37.65B | 1889 | +21.39% | +29.62% | -8.23% | +2.35B |
| 2023-12-31 | $35.12B | 1825 | +27.95% | +26.18% | +1.77% | -2.89B |
| 2023-09-30 | $34.96B | 1689 | +27.27% | +21.57% | +5.71% | -1.29B |
| 2023-06-30 | $35.24B | 1793 | +24.11% | +19.42% | +4.69% | +2.76B |
| 2023-03-31 | $30.08B | 2109 | -4.33% | -7.82% | +3.49% | +0.87B |
| 2022-12-31 | $27.57B | 2243 | -13.88% | -18.17% | +4.30% | +0.32B |
| 2022-09-30 | $25.20B | 2281 | -11.54% | -15.51% | +3.97% | +2.07B |
| 2022-06-30 | $23.05B | 2187 | -11.32% | -10.62% | -0.70% | +4.85B |