Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-2.91%
trims when stocks drop
when a holding falls −10%+
Middle response
-4.04%
baseline attrition
Rally response
+6.06%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| AMZNAmazon.com, Inc. | $534M | 6.6% | +9.5% | 10.3 yr |
| SCHWThe Charles Schwab Corpo | $501M | 6.2% | +21.5% | 11.3 yr |
| MSFTMicrosoft Corporation | $420M | 5.2% | -0.6% | 11.3 yr |
| METAMeta Platforms, Inc. | $403M | 5.0% | -0.4% | 11.3 yr |
| GOOGAlphabet Inc. | $340M | 4.2% | +84.3% | 10.3 yr |
| GEVGE Vernova Inc. | $339M | 4.2% | +186.8% | 2.0 yr |
| VVisa Inc. | $327M | 4.0% | -13.1% | 8.8 yr |
| MCOMoody's Corporation | $306M | 3.8% | -5.6% | 11.3 yr |
| UNHUnitedHealth Group Incor | $297M | 3.7% | -46.9% | 7.5 yr |
| SPGIS&P Global Inc. | $285M | 3.5% | -15.6% | 9.8 yr |
| APOApollo Global Management | $247M | 3.1% | -17.4% | 4.3 yr |
| BAThe Boeing Company | $237M | 2.9% | +16.7% | 6.0 yr |
| GLDSPDR Gold Shares | $214M | 2.7% | — | 9.3 yr |
| AMLPAlerian MLP ETF | $211M | 2.6% | — | 6.0 yr |
| VTIVanguard Total Stock Mar | $191M | 2.4% | — | 9.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management29.9%+9.4pp$2.42B
Internet Content & Information9.5%-0.1pp$767M
Specialty Retail8.8%+0.3pp$713M
Financial - Data & Stock Exchanges7.7%-3.1pp$620M
Software - Infrastructure7.5%-1.1pp$610M
Financial - Capital Markets6.2%-1.3pp$505M
Semiconductors5.9%+3.7pp$475M
Financial - Credit Services4.4%-3.5pp$354M
Renewable Utilities4.2%+4.0pp$339M
Medical - Healthcare Plans3.7%-2.6pp$299M
Country
US94.3%-2.7pp
TW1.4%+1.2pp
NL1.0%+0.5pp
UY0.9%+0.1pp
CA0.9%+0.3pp
BR0.7%+0.4pp
KR0.4%+0.1pp
SG0.2%
Top 5: 27.2% · Top 10: 46.4% · Top 25: 75.1%
Top buys this quarter · 15
| GOOG Alphabet Inc. | +$50M |
| BA The Boeing Company | +$45M |
| TSM Taiwan Semiconductor Manufactu | +$23M |
| MU Micron Technology, Inc. | +$13M |
| KKR KKR & Co. Inc. | +$30M |
| COIN Coinbase Global, Inc. | +$28M |
| CRM Salesforce, Inc. | +$2M |
| NU Nu Holdings Ltd. | +$61M |
| MELI MercadoLibre, Inc. | +$77M |
| SPY State Street SPDR S&P 500 ETF | +$121M |
Top sells this quarter · 15
| AMZN Amazon.com, Inc. | −$40M |
| UBER Uber Technologies, Inc. | −$35M |
| MSFT Microsoft Corporation | −$31M |
| SNOW Snowflake Inc. | −$28M |
| TDG TransDigm Group Incorporated | −$26M |
| NET Cloudflare, Inc. | −$25M |
| SCHW The Charles Schwab Corporation | −$24M |
| APO Apollo Global Management, Inc. | −$22M |
| NFLX Netflix, Inc. | −$20M |
| META Meta Platforms, Inc. | −$20M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $8.09B | 220 | +4.15% | +17.59% | -13.44% | +0.07B |
| 2025-12-31 | $9.02B | 219 | +13.29% | +17.72% | -4.43% | -0.03B |
| 2025-09-30 | $9.00B | 201 | +15.46% | +17.52% | -2.06% | -0.51B |
| 2025-06-30 | $9.17B | 198 | +14.18% | +14.94% | -0.76% | -0.46B |
| 2025-03-31 | $8.57B | 198 | +3.92% | +8.30% | -4.38% | +0.21B |
| 2024-12-31 | $8.66B | 198 | +14.00% | +24.89% | -10.89% | +0.03B |
| 2024-09-30 | $8.42B | 214 | +24.81% | +36.04% | -11.23% | -0.03B |
| 2024-06-30 | $8.23B | 214 | +21.00% | +24.49% | -3.49% | +0.08B |
| 2024-03-31 | $7.97B | 206 | +30.87% | +29.62% | +1.25% | +0.04B |
| 2023-12-31 | $7.48B | 213 | +26.94% | +26.18% | +0.76% | -0.19B |
| 2023-09-30 | $6.83B | 217 | +21.30% | +21.57% | -0.27% | +0.08B |
| 2023-06-30 | $6.79B | 214 | +15.64% | +19.42% | -3.78% | +0.20B |
| 2023-03-31 | $5.96B | 212 | -11.98% | -7.82% | -4.16% | -0.43B |
| 2022-12-31 | $6.22B | 211 | -18.30% | -18.17% | -0.13% | +0.01B |
| 2022-09-30 | $5.79B | 212 | -15.39% | -15.51% | +0.12% | -0.06B |
| 2022-06-30 | $6.17B | 223 | -10.27% | -10.62% | +0.35% | -0.10B |