Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-4.32%
trims when stocks drop
when a holding falls −10%+
Middle response
-6.64%
baseline attrition
Rally response
-2.17%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $451M | 3.6% | +60.9% | 10.5 yr |
| AAPLApple Inc. | $372M | 3.0% | +14.7% | 10.5 yr |
| MSFTMicrosoft Corporation | $298M | 2.4% | -0.6% | 10.5 yr |
| AVGOBroadcom Inc. | $241M | 1.9% | +86.0% | 8.0 yr |
| AMZNAmazon.com, Inc. | $224M | 1.8% | +9.5% | 10.5 yr |
| GOOGLAlphabet Inc. | $207M | 1.7% | — | 10.5 yr |
| METAMeta Platforms, Inc. | $188M | 1.5% | -0.4% | 10.5 yr |
| LRCXLam Research Corporation | $174M | 1.4% | +196.1% | 1.5 yr |
| WMTWalmart Inc. | $158M | 1.3% | +42.8% | 10.5 yr |
| MUMicron Technology, Inc. | $149M | 1.2% | +289.6% | 10.5 yr |
| TSLATesla, Inc. | $143M | 1.1% | +43.4% | 10.5 yr |
| AMATApplied Materials, Inc. | $142M | 1.1% | +137.6% | 10.5 yr |
| COSTCostco Wholesale Corpora | $134M | 1.1% | +5.9% | 10.5 yr |
| CSCOCisco Systems, Inc. | $129M | 1.0% | +28.1% | 10.5 yr |
| GOOGAlphabet Inc. | $122M | 1.0% | +84.3% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors14.1%+4.0pp$1.76B
Asset Management8.6%-0.4pp$1.07B
Asset Management - Income6.7%-0.2pp$835M
Internet Content & Information4.6%+0.6pp$575M
Software - Infrastructure4.4%-0.8pp$544M
Drug Manufacturers - General4.2%+0.2pp$518M
Consumer Electronics3.0%-0.4pp$374M
Software - Application2.9%-0.4pp$357M
Specialty Retail2.7%-0.3pp$339M
Regulated Electric2.7%+0.1pp$335M
Country
US94.0%+0.2pp
CA1.5%+0.5pp
Unknown1.0%+0.1pp
IE0.9%-0.3pp
GB0.6%-0.4pp
FR0.4%+0.2pp
AU0.2%+0.0pp
TW0.2%+0.0pp
Top 5: 12.7% · Top 10: 19.7% · Top 25: 32.2%
Top buys this quarter · 15
| WMT Walmart Inc. | +$116M |
| ADSK Autodesk, Inc. | +$7M |
| GE GE Aerospace | +$7M |
| CVX Chevron Corporation | +$6M |
| AON Aon plc | +$6M |
| NOW ServiceNow, Inc. | +$27M |
| ECL Ecolab Inc. | +$5M |
| HD The Home Depot, Inc. | +$5M |
| ABT Abbott Laboratories | +$5M |
| SPOT Spotify Technology S.A. | +$5M |
Top sells this quarter · 15
| NVDA NVIDIA Corporation | −$92M |
| AAPL Apple Inc. | −$77M |
| MSFT Microsoft Corporation | −$52M |
| AMZN Amazon.com, Inc. | −$42M |
| META Meta Platforms, Inc. | −$33M |
| GOOG Alphabet Inc. | −$31M |
| MU Micron Technology, Inc. | −$148M |
| AVGO Broadcom Inc. | −$25M |
| AMAT Applied Materials, Inc. | −$125M |
| SPY State Street SPDR S&P 500 ETF | −$24M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $12.48B | 1588 | +19.36% | +17.59% | +1.77% | -0.72B |
| 2025-12-31 | $13.56B | 1731 | +17.98% | +17.72% | +0.27% | -0.28B |
| 2025-09-30 | $13.41B | 1561 | +15.39% | +17.52% | -2.13% | +0.21B |
| 2025-06-30 | $12.27B | 1574 | +13.83% | +14.94% | -1.11% | +0.57B |
| 2025-03-31 | $10.61B | 1619 | +4.13% | +8.30% | -4.17% | -1.02B |
| 2024-12-31 | $12.08B | 1668 | +15.34% | +24.89% | -9.55% | -2.14B |
| 2024-09-30 | $14.08B | 1845 | +27.95% | +36.04% | -8.09% | -0.72B |
| 2024-06-30 | $13.94B | 1846 | +16.01% | +24.49% | -8.48% | -0.26B |
| 2024-03-31 | $14.07B | 1858 | +21.26% | +29.62% | -8.37% | +0.07B |
| 2023-12-31 | $13.13B | 1860 | +19.86% | +26.18% | -6.32% | +0.20B |
| 2023-09-30 | $11.55B | 1823 | +15.99% | +21.57% | -5.58% | -0.63B |
| 2023-06-30 | $12.65B | 1852 | +14.24% | +19.42% | -5.18% | +0.19B |
| 2023-03-31 | $11.81B | 1901 | -7.47% | -7.82% | +0.34% | -0.12B |
| 2022-12-31 | $11.32B | 1901 | -16.24% | -18.17% | +1.93% | -0.45B |
| 2022-09-30 | $10.85B | 1885 | -14.16% | -15.51% | +1.34% | -1.11B |
| 2022-06-30 | $12.62B | 2033 | -8.96% | -10.62% | +1.67% | -1.54B |