Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+3.62%
adds when stocks drop
when a holding falls −10%+
Middle response
-0.10%
baseline attrition
Rally response
-3.68%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| TLTiShares 20+ Year Treasur | $2.00B | 8.1% | — | 10.3 yr |
| NVDANVIDIA Corporation | $1.34B | 5.4% | +60.9% | 10.5 yr |
| IWMiShares Russell 2000 ETF | $907M | 3.7% | — | 10.5 yr |
| AVGOBroadcom Inc. | $890M | 3.6% | +86.0% | 8.0 yr |
| MUMicron Technology, Inc. | $776M | 3.2% | +289.6% | 10.5 yr |
| TSLATesla, Inc. | $646M | 2.6% | +43.4% | 10.5 yr |
| AMDAdvanced Micro Devices, | $606M | 2.5% | +98.0% | 9.8 yr |
| EWYiShares MSCI South Korea | $560M | 2.3% | — | 10.0 yr |
| GDXVanEck Gold Miners ETF | $551M | 2.2% | — | 10.0 yr |
| AMATApplied Materials, Inc. | $536M | 2.2% | +137.6% | 10.5 yr |
| AAPLApple Inc. | $536M | 2.2% | +14.7% | 10.5 yr |
| MSFTMicrosoft Corporation | $476M | 1.9% | -0.6% | 10.5 yr |
| MRVLMarvell Technology, Inc. | $421M | 1.7% | +61.3% | 5.0 yr |
| FXIiShares China Large-Cap | $394M | 1.6% | — | 10.5 yr |
| INTCIntel Corporation | $388M | 1.6% | +94.3% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors39.0%+11.6pp$9.60B
Asset Management14.0%-0.4pp$3.44B
Asset Management - Bonds8.3%-8.3pp$2.03B
Software - Infrastructure3.7%+0.2pp$899M
Auto - Manufacturers2.7%-1.0pp$653M
Consumer Electronics2.2%-0.0pp$536M
Internet Content & Information1.9%+0.5pp$467M
Banks - Diversified1.7%-0.4pp$410M
Biotechnology1.6%+0.0pp$398M
Aerospace & Defense1.6%+0.7pp$385M
Country
US93.4%-1.5pp
NL2.7%+0.6pp
TW1.8%+0.6pp
IE0.5%-0.1pp
GB0.4%+0.0pp
IL0.4%+0.4pp
Unknown0.3%+0.1pp
CH0.1%-0.0pp
Top 5: 24.0% · Top 10: 35.8% · Top 25: 58.8%
Top buys this quarter · 15
| TSLA Tesla, Inc. | +$138M |
| AVGO Broadcom Inc. | +$890M |
| QCOM QUALCOMM Incorporated | +$349M |
| MRVL Marvell Technology, Inc. | +$29M |
| PLTR Palantir Technologies Inc. | +$188M |
| CIEN Ciena Corporation | +$12M |
| LITE Lumentum Holdings Inc. | +$11M |
| COHR Coherent, Inc. | +$10M |
| VRT Vertiv Holdings Conew | +$6M |
| TEAM Atlassian Corporation | +$11M |
Top sells this quarter · 15
| AMAT Applied Materials, Inc. | −$247M |
| MKSI MKS Inc. | −$202M |
| LRCX Lam Research Corporation | −$186M |
| NVDA NVIDIA Corporation | −$182M |
| AAPL Apple Inc. | −$159M |
| AMD Advanced Micro Devices, Inc. | −$154M |
| MU Micron Technology, Inc. | −$773M |
| ADI Analog Devices, Inc. | −$123M |
| KLAC KLA Corporation | −$122M |
| ASML ASML Holding N.V. | −$121M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $24.61B | 1056 | +43.29% | +17.59% | +25.70% | -4.66B |
| 2025-12-31 | $28.93B | 1132 | +28.14% | +17.72% | +10.43% | -3.68B |
| 2025-09-30 | $30.82B | 1103 | +21.02% | +17.52% | +3.50% | -3.52B |
| 2025-06-30 | $30.30B | 1076 | +7.90% | +14.94% | -7.04% | +2.61B |
| 2025-03-31 | $23.44B | 1057 | -5.71% | +8.30% | -14.02% | -2.11B |
| 2024-12-31 | $28.25B | 1139 | +12.96% | +24.89% | -11.92% | -0.90B |
| 2024-09-30 | $29.17B | 1136 | +31.41% | +36.04% | -4.62% | +1.96B |
| 2024-06-30 | $26.93B | 1167 | +24.00% | +24.49% | -0.49% | -0.73B |
| 2024-03-31 | $26.80B | 1079 | +28.98% | +29.62% | -0.64% | +1.10B |
| 2023-12-31 | $23.70B | 1069 | +27.43% | +26.18% | +1.25% | +3.94B |
| 2023-09-30 | $17.01B | 1071 | +17.19% | +21.57% | -4.38% | +0.10B |
| 2023-06-30 | $17.73B | 1088 | +14.94% | +19.42% | -4.49% | +1.89B |
| 2023-03-31 | $14.75B | 1139 | -13.71% | -7.82% | -5.89% | +1.97B |
| 2022-12-31 | $11.93B | 1119 | +6.89% | +7.56% | -0.67% | +1.90B |
| 2022-09-30 | $9.39B | 1136 | -6.48% | -4.93% | -1.55% | -0.77B |
| 2022-06-30 | $10.86B | 1122 | -19.40% | -16.11% | -3.29% | -2.73B |