Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-0.92%
trims when stocks drop
when a holding falls −10%+
Middle response
+2.68%
steady accumulation
Rally response
-1.72%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $8.51B | 5.5% | +60.9% | 10.5 yr |
| AAPLApple Inc. | $6.54B | 4.2% | +14.7% | 10.3 yr |
| MSFTMicrosoft Corporation | $5.55B | 3.6% | -0.6% | 10.5 yr |
| AMZNAmazon.com, Inc. | $3.86B | 2.5% | +9.5% | 10.3 yr |
| GOOGLAlphabet Inc. | $3.51B | 2.3% | — | 10.5 yr |
| — | $3.34B | 2.2% | — | 2.5 yr |
| AVGOBroadcom Inc. | $3.19B | 2.1% | +86.0% | 8.0 yr |
| GOOGAlphabet Inc. | $2.37B | 1.5% | +84.3% | 10.5 yr |
| METAMeta Platforms, Inc. | $2.36B | 1.5% | -0.4% | 10.5 yr |
| TSLATesla, Inc. | $2.25B | 1.5% | +43.4% | 10.3 yr |
| CEGConstellation Energy Cor | $2.14B | 1.4% | +39.2% | 4.3 yr |
| CNQCanadian Natural Resourc | $1.97B | 1.3% | +66.0% | 10.5 yr |
| MAMastercard Incorporated | $1.95B | 1.3% | -8.5% | 10.5 yr |
| JPMJPMorgan Chase & Co. | $1.92B | 1.2% | +21.8% | 10.5 yr |
| RYRoyal Bank of Canada | $1.61B | 1.0% | +48.2% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors11.2%+4.8pp$17.39B
Banks - Diversified6.2%+1.3pp$9.60B
Internet Content & Information5.6%+0.8pp$8.63B
Software - Infrastructure5.3%-0.7pp$8.16B
Consumer Electronics4.2%-0.0pp$6.54B
Unknown3.9%+1.3pp$6.06B
Specialty Retail3.3%+0.2pp$5.12B
Software - Application3.2%-1.4pp$4.99B
Drug Manufacturers - General3.0%+0.6pp$4.67B
Asset Management2.6%-1.2pp$3.97B
Country
US80.0%-0.3pp
CA11.2%+1.4pp
Unknown3.9%+1.3pp
CH1.2%-0.9pp
GB1.1%-1.1pp
IE0.8%-0.2pp
FR0.4%
SG0.2%+0.2pp
Top 5: 18.0% · Top 10: 26.8% · Top 25: 41.5%
Top buys this quarter · 15
| CEG Constellation Energy Corporati | +$2.10B |
| MSFT Microsoft Corporation | +$5.55B |
| NVDA NVIDIA Corporation | +$676M |
| SM SM Energy Company | +$433M |
| TSLA Tesla, Inc. | +$2.25B |
| ARES Ares Management Corporation | +$342M |
| AAPL Apple Inc. | +$6.54B |
| TXN Texas Instruments Incorporated | +$295M |
| VST Vistra Corp. | +$291M |
| JPM JPMorgan Chase & Co. | +$278M |
Top sells this quarter · 15
| SPY State Street SPDR S&P 500 ETF | −$771M |
| AVGO Broadcom Inc. | −$372M |
| NTR Nutrien Ltd. | −$348M |
| CRC California Resources Corporati | −$470M |
| OMC Omnicom Group Inc. | −$238M |
| PBA Pembina Pipeline Corporation | −$211M |
| AMD Advanced Micro Devices, Inc. | −$196M |
| AVB AvalonBay Communities, Inc. | −$161M |
| CVE Cenovus Energy Inc. | −$159M |
| PSA Public Storage | −$143M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $155.02B | 1676 | +17.08% | +17.59% | -0.51% | +10.38B |
| 2025-12-31 | $149.51B | 1968 | +19.17% | +17.72% | +1.45% | +4.44B |
| 2025-09-30 | $142.40B | 1344 | +17.58% | +17.52% | +0.06% | +16.10B |
| 2025-06-30 | $116.91B | 1341 | +17.62% | +14.94% | +2.68% | +3.66B |
| 2025-03-31 | $102.99B | 1294 | +7.49% | +8.30% | -0.81% | -0.42B |
| 2024-12-31 | $105.02B | 1396 | +16.59% | +24.89% | -8.30% | -1.05B |
| 2024-09-30 | $105.52B | 1317 | +28.97% | +36.04% | -7.07% | -4.36B |
| 2024-06-30 | $101.68B | 1358 | +12.25% | +24.49% | -12.24% | +6.10B |
| 2024-03-31 | $95.11B | 1164 | +16.29% | +29.62% | -13.33% | +10.71B |
| 2023-12-31 | $79.03B | 1080 | +13.13% | +26.18% | -13.04% | +3.14B |
| 2023-09-30 | $68.25B | 988 | +6.78% | +21.57% | -14.78% | +6.37B |
| 2023-06-30 | $65.79B | 989 | +5.55% | +19.42% | -13.87% | +0.15B |
| 2023-03-31 | $63.04B | 1048 | -15.70% | -7.82% | -7.88% | +4.54B |
| 2022-12-31 | $56.31B | 1156 | -22.61% | -18.17% | -4.43% | -5.34B |
| 2022-09-30 | $58.74B | 1181 | -18.10% | -15.51% | -2.59% | +2.87B |
| 2022-06-30 | $60.09B | 1234 | -4.00% | -10.62% | +6.62% | -1.79B |