Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-10.60%
trims when stocks drop
when a holding falls −10%+
Middle response
+2.19%
steady accumulation
Rally response
-3.00%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $14.42B | 6.9% | +60.9% | 10.5 yr |
| MSFTMicrosoft Corporation | $8.81B | 4.2% | -0.6% | 10.5 yr |
| AAPLApple Inc. | $6.80B | 3.3% | +14.7% | 10.5 yr |
| GOOGAlphabet Inc. | $6.80B | 3.2% | +84.3% | 10.5 yr |
| AMZNAmazon.com, Inc. | $6.69B | 3.2% | +9.5% | 10.5 yr |
| AVGOBroadcom Inc. | $5.96B | 2.8% | +86.0% | 8.0 yr |
| LLYEli Lilly and Company | $3.98B | 1.9% | +12.2% | 10.5 yr |
| METAMeta Platforms, Inc. | $3.94B | 1.9% | -0.4% | 10.5 yr |
| TSMTaiwan Semiconductor Man | $2.65B | 1.3% | +105.6% | 10.5 yr |
| AZNAstraZeneca PLC | $2.32B | 1.1% | +36.2% | 0.3 yr |
| MAMastercard Incorporated | $2.27B | 1.1% | -8.5% | 10.5 yr |
| LRCXLam Research Corporation | $1.98B | 0.9% | +196.1% | 1.5 yr |
| JNJJohnson & Johnson | $1.92B | 0.9% | +51.5% | 10.5 yr |
| ARGXargenx SE | $1.85B | 0.9% | +23.4% | 8.5 yr |
| KLACKLA Corporation | $1.83B | 0.9% | +118.2% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors15.4%+5.1pp$32.22B
Biotechnology6.9%+1.7pp$14.47B
Internet Content & Information6.7%+0.1pp$13.96B
Software - Infrastructure6.0%-3.2pp$12.56B
Drug Manufacturers - General5.6%+1.5pp$11.74B
Specialty Retail4.2%-0.7pp$8.85B
Software - Application3.4%-2.2pp$7.17B
Consumer Electronics3.3%-0.2pp$6.97B
Hardware, Equipment & Parts2.9%+0.9pp$6.12B
Medical - Devices2.7%-0.2pp$5.64B
Country
US85.3%-2.8pp
GB2.5%+1.1pp
Unknown2.4%+0.2pp
IE2.3%+0.1pp
CA1.6%+0.1pp
TW1.3%+0.6pp
NL1.2%-0.1pp
SG0.8%+0.2pp
Top 5: 20.8% · Top 10: 29.8% · Top 25: 41.7%
Top buys this quarter · 15
| AZN AstraZeneca PLCnew | +$2.36B |
| GEV GE Vernova Inc. | +$1.30B |
| META Meta Platforms, Inc. | +$3.94B |
| PLTR Palantir Technologies Inc. | +$432M |
| STX Seagate Technology Holdings pl | +$369M |
| DUK Duke Energy Corporation | +$352M |
| FCX Freeport-McMoRan Inc. | +$340M |
| V Visa Inc. | +$337M |
| DASH DoorDash, Inc. | +$1.16B |
| COP ConocoPhillips | +$330M |
Top sells this quarter · 15
| MSFT Microsoft Corporation | −$1.08B |
| APP AppLovin Corporation | −$568M |
| SCHW The Charles Schwab Corporation | −$450M |
| BX Blackstone Inc. | −$435M |
| WDAY Workday, Inc. | −$434M |
| AMGN Amgen Inc. | −$428M |
| SSNC SS&C Technologies Holdings, In | −$378M |
| ORCL Oracle Corporation | −$365M |
| MNST Monster Beverage Corporation | −$352M |
| DELL Dell Technologies Inc. | −$349M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $209.29B | 2395 | +17.01% | +17.59% | -0.58% | +1.72B |
| 2025-12-31 | $223.02B | 2396 | +17.97% | +17.72% | +0.25% | -1.39B |
| 2025-09-30 | $218.75B | 2387 | +16.14% | +17.52% | -1.37% | -0.59B |
| 2025-06-30 | $203.69B | 2390 | +14.16% | +14.94% | -0.78% | -3.69B |
| 2025-03-31 | $182.22B | 2466 | +2.10% | +8.30% | -6.20% | -2.20B |
| 2024-12-31 | $196.55B | 2512 | +18.83% | +24.89% | -6.06% | -0.56B |
| 2024-09-30 | $195.16B | 2513 | +31.80% | +36.04% | -4.23% | -2.23B |
| 2024-06-30 | $186.50B | 2506 | +19.84% | +24.49% | -4.65% | +0.13B |
| 2024-03-31 | $183.10B | 2513 | +26.10% | +29.62% | -3.52% | +0.15B |
| 2023-12-31 | $167.53B | 2530 | +24.59% | +26.18% | -1.59% | -3.39B |
| 2023-09-30 | $152.57B | 2545 | +19.60% | +21.57% | -1.97% | -2.04B |
| 2023-06-30 | $160.65B | 2579 | +19.42% | +19.42% | -0.00% | -1.65B |
| 2023-03-31 | $151.54B | 2673 | -7.12% | -7.82% | +0.69% | +0.61B |
| 2022-12-31 | $139.88B | 2444 | -15.91% | -18.17% | +2.27% | -3.75B |
| 2022-09-30 | $133.56B | 2521 | +0.66% | -15.51% | +16.17% | -5.63B |
| 2022-06-30 | $144.84B | 2577 | -16.70% | -16.11% | -0.59% | -27.46B |