Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-10.26%
trims when stocks drop
when a holding falls −10%+
Middle response
-4.80%
baseline attrition
Rally response
-7.04%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $370M | 2.2% | +60.9% | 6.5 yr |
| ABBVAbbVie Inc. | $328M | 2.0% | +7.3% | 9.8 yr |
| AVGOBroadcom Inc. | $316M | 1.9% | +86.0% | 7.3 yr |
| AAPLApple Inc. | $313M | 1.9% | +14.7% | 10.5 yr |
| MSFTMicrosoft Corporation | $292M | 1.8% | -0.6% | 10.5 yr |
| METAMeta Platforms, Inc. | $248M | 1.5% | -0.4% | 7.5 yr |
| JPMJPMorgan Chase & Co. | $235M | 1.4% | +21.8% | 7.8 yr |
| AMATApplied Materials, Inc. | $225M | 1.4% | +137.6% | 10.5 yr |
| GOOGLAlphabet Inc. | $208M | 1.3% | — | 9.8 yr |
| CSCOCisco Systems, Inc. | $205M | 1.2% | +28.1% | 9.8 yr |
| HCAHCA Healthcare, Inc. | $195M | 1.2% | +37.9% | 3.0 yr |
| EMEEMCOR Group, Inc. | $194M | 1.2% | +100.2% | 4.0 yr |
| REGNRegeneron Pharmaceutical | $184M | 1.1% | +22.5% | 2.3 yr |
| ACNAccenture plc | $179M | 1.1% | -35.6% | 9.8 yr |
| NTAPNetApp, Inc. | $179M | 1.1% | +18.4% | 4.3 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors11.1%+3.4pp$1.84B
Drug Manufacturers - General6.0%+1.7pp$994M
Internet Content & Information3.6%-0.4pp$589M
Computer Hardware3.4%+1.2pp$566M
Regulated Electric2.8%+0.3pp$465M
Banks - Diversified2.6%-0.4pp$436M
Information Technology Services2.6%+0.9pp$433M
Specialty Retail2.6%-0.1pp$429M
Oil & Gas Exploration & Production2.6%+2.0pp$424M
Software - Infrastructure2.5%-0.4pp$415M
Country
US93.1%-0.4pp
IE1.9%+0.8pp
GB1.2%-0.3pp
KY1.0%+0.6pp
TW1.0%+0.3pp
CA0.9%+0.2pp
BM0.4%-0.0pp
LU0.3%
Top 5: 9.8% · Top 10: 16.6% · Top 25: 31.7%
Top buys this quarter · 15
| MEDP Medpace Holdings, Inc. | +$54M |
| JKHY Jack Henry & Associates, Inc. | +$49M |
| SMG The Scotts Miracle-Gro Company | +$47M |
| HRL Hormel Foods Corporationnew | +$45M |
| NNN NNN REIT, Inc.new | +$43M |
| ACN Accenture plc | +$179M |
| SOLS Solstice Advanced Materials Innew | +$41M |
| CHRW C.H. Robinson Worldwide, Inc. | +$40M |
| HALO Halozyme Therapeutics, Inc. | +$39M |
| ABBV AbbVie Inc. | +$33M |
Top sells this quarter · 15
| SPOT Spotify Technology S.A. | −$122M |
| AMAT Applied Materials, Inc. | −$225M |
| CMI Cummins Inc. | −$61M |
| EHC Encompass Health Corporation | −$58M |
| META Meta Platforms, Inc. | −$58M |
| EXPD Expeditors International of Wa | −$54M |
| RTX RTX Corporation | −$51M |
| TMUS T-Mobile US, Inc. | −$47M |
| AXP American Express Company | −$43M |
| ULTA Ulta Beauty, Inc. | −$41M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $16.52B | 234 | +16.10% | +17.59% | -1.49% | -0.89B |
| 2025-12-31 | $17.60B | 247 | +15.22% | +17.72% | -2.49% | -0.99B |
| 2025-09-30 | $18.20B | 274 | +12.32% | +17.52% | -5.20% | -2.43B |
| 2025-06-30 | $19.33B | 277 | +12.74% | +14.94% | -2.20% | -1.44B |
| 2025-03-31 | $19.28B | 278 | +4.67% | +8.30% | -3.63% | -0.97B |
| 2024-12-31 | $20.64B | 281 | +16.38% | +24.89% | -8.51% | -1.59B |
| 2024-09-30 | $22.33B | 369 | +29.05% | +36.04% | -6.99% | -1.13B |
| 2024-06-30 | $21.90B | 383 | +17.31% | +24.49% | -7.18% | -0.60B |
| 2024-03-31 | $22.50B | 408 | +23.68% | +29.62% | -5.95% | -1.47B |
| 2023-12-31 | $21.96B | 411 | +16.71% | +26.18% | -9.47% | +4.65B |
| 2023-09-30 | $15.68B | 420 | +17.77% | +21.57% | -3.79% | -1.12B |
| 2023-06-30 | $17.25B | 439 | +13.98% | +19.42% | -5.44% | -0.43B |
| 2023-03-31 | $16.78B | 435 | -4.01% | -7.82% | +3.81% | -0.47B |
| 2022-12-31 | $16.75B | 417 | +11.43% | +7.56% | +3.87% | -0.31B |
| 2022-09-30 | $15.31B | 428 | -5.77% | -4.93% | -0.84% | -0.76B |
| 2022-06-30 | $17.06B | 433 | -11.20% | -16.11% | +4.91% | -1.06B |