Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+1.45%
adds when stocks drop
when a holding falls −10%+
Middle response
-5.00%
baseline attrition
Rally response
-9.50%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $846M | 8.0% | +60.9% | 3.0 yr |
| AMZNAmazon.com, Inc. | $681M | 6.4% | +9.5% | 10.5 yr |
| MSFTMicrosoft Corporation | $581M | 5.5% | -0.6% | 8.0 yr |
| GOOGAlphabet Inc. | $543M | 5.1% | +84.3% | 10.5 yr |
| VVisa Inc. | $529M | 5.0% | -13.1% | 10.5 yr |
| WMWaste Management, Inc. | $465M | 4.4% | +0.8% | 2.3 yr |
| AVGOBroadcom Inc. | $453M | 4.3% | +86.0% | 0.5 yr |
| — | $410M | 3.9% | — | 3.0 yr |
| METAMeta Platforms, Inc. | $399M | 3.8% | -0.4% | 8.8 yr |
| AAPLApple Inc. | $387M | 3.6% | +14.7% | 9.5 yr |
| SNPSSynopsys, Inc. | $357M | 3.4% | -7.5% | 2.0 yr |
| YUMYum! Brands, Inc. | $351M | 3.3% | +0.7% | 8.5 yr |
| AONAon plc | $340M | 3.2% | -18.4% | 6.3 yr |
| AXPAmerican Express Company | $339M | 3.2% | +13.3% | 5.5 yr |
| — | $328M | 3.1% | — | 3.5 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors15.5%+9.7pp$1.65B
Financial - Credit Services9.9%+2.3pp$1.06B
Internet Content & Information9.0%+1.5pp$954M
Software - Infrastructure8.9%-1.4pp$941M
Specialty Retail8.1%-0.6pp$859M
Software - Application7.7%-6.6pp$817M
Unknown7.2%-2.1pp$761M
Restaurants5.7%+1.5pp$602M
Waste Management4.5%+2.0pp$481M
Consumer Electronics3.6%+0.7pp$387M
Country
US79.5%+7.7pp
Unknown7.2%-2.1pp
IE4.4%-2.4pp
GB3.0%+1.9pp
IN1.4%-3.0pp
UY0.9%-0.8pp
CH0.8%-0.9pp
DE0.8%+0.7pp
Top 5: 29.9% · Top 10: 49.8% · Top 25: 90.2%
Top buys this quarter · 15
| AVGO Broadcom Inc. | +$252M |
| MA Mastercard Incorporatednew | +$188M |
| AXP American Express Company | +$152M |
| AAPL Apple Inc. | +$78M |
| ECL Ecolab Inc. | +$54M |
| INFY Infosys Limited | +$11M |
| DHR Danaher Corporation | +$310M |
| GRAB Grab Holdings Limited | +$7M |
| SPOT Spotify Technology S.A. | +$7M |
| SHOP Shopify Inc. | +$10M |
Top sells this quarter · 15
| AMZN Amazon.com, Inc. | −$288M |
| IT Gartner, Inc.exit | −$197M |
| NVDA NVIDIA Corporation | −$196M |
| MSFT Microsoft Corporation | −$180M |
| WM Waste Management, Inc. | −$172M |
| INTU Intuit Inc. | −$140M |
| SPGI S&P Global Inc. | −$116M |
| V Visa Inc. | −$111M |
| ARM Arm Holdings plc American Depo | −$292M |
| 0I3I.L The Cooper Companies, Inc. | −$93M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $10.62B | 51 | -4.34% | +17.59% | -21.93% | -1.97B |
| 2025-12-31 | $14.42B | 54 | +4.73% | +17.72% | -12.99% | -2.82B |
| 2025-09-30 | $17.08B | 59 | +5.48% | +17.52% | -12.04% | -1.76B |
| 2025-06-30 | $19.37B | 55 | +14.14% | +14.94% | -0.80% | -0.64B |
| 2025-03-31 | $17.93B | 56 | +1.16% | +8.30% | -7.14% | -1.14B |
| 2024-12-31 | $19.94B | 54 | +14.11% | +24.89% | -10.77% | -4.05B |
| 2024-09-30 | $23.60B | 53 | +28.05% | +36.04% | -7.99% | -1.33B |
| 2024-06-30 | $23.69B | 57 | +18.65% | +24.49% | -5.84% | +0.05B |
| 2024-03-31 | $23.90B | 54 | +30.40% | +29.62% | +0.78% | +0.22B |
| 2023-12-31 | $21.96B | 52 | +36.03% | +26.18% | +9.85% | -0.48B |
| 2023-09-30 | $19.68B | 53 | +25.68% | +21.57% | +4.11% | -0.89B |
| 2023-06-30 | $21.08B | 56 | +23.15% | +19.42% | +3.73% | +2.34B |
| 2023-03-31 | $17.25B | 53 | -8.53% | -7.82% | -0.71% | -0.69B |
| 2022-12-31 | $15.95B | 57 | +5.38% | +7.56% | -2.18% | +1.85B |
| 2022-09-30 | $13.38B | 52 | -4.42% | -4.93% | +0.51% | +0.02B |
| 2022-06-30 | $13.97B | 55 | -19.27% | -16.11% | -3.16% | -0.61B |