Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+0.22%
adds when stocks drop
when a holding falls −10%+
Middle response
-2.92%
baseline attrition
Rally response
-5.60%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $1.61B | 5.0% | +60.9% | 10.5 yr |
| MSFTMicrosoft Corporation | $1.55B | 4.8% | -0.6% | 10.5 yr |
| AAPLApple Inc. | $1.17B | 3.6% | +14.7% | 10.5 yr |
| GOOGLAlphabet Inc. | $882M | 2.7% | — | 10.5 yr |
| AMZNAmazon.com, Inc. | $848M | 2.6% | +9.5% | 10.5 yr |
| AVGOBroadcom Inc. | $683M | 2.1% | +86.0% | 8.0 yr |
| TSATTelesat Corporation | $659M | 2.1% | +92.2% | 4.5 yr |
| CMCanadian Imperial Bank o | $592M | 1.8% | +73.0% | 10.5 yr |
| METAMeta Platforms, Inc. | $443M | 1.4% | -0.4% | 10.5 yr |
| JPMJPMorgan Chase & Co. | $429M | 1.3% | +21.8% | 10.5 yr |
| AZNAstraZeneca PLC | $415M | 1.3% | +36.2% | 0.3 yr |
| RYRoyal Bank of Canada | $387M | 1.2% | +48.2% | 10.5 yr |
| LLYEli Lilly and Company | $383M | 1.2% | +12.2% | 10.5 yr |
| BRK-BBerkshire Hathaway Inc. | $332M | 1.0% | — | 10.5 yr |
| TSLATesla, Inc. | $310M | 1.0% | +43.4% | 7.3 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors11.1%+2.5pp$3.55B
Banks - Diversified7.8%+3.2pp$2.52B
Software - Infrastructure6.3%-1.4pp$2.02B
Internet Content & Information5.3%-0.0pp$1.70B
Drug Manufacturers - General4.5%+1.3pp$1.43B
Specialty Retail3.8%+0.0pp$1.22B
Consumer Electronics3.7%-1.5pp$1.18B
Communication Equipment3.1%+0.9pp$995M
Banks - Regional2.4%+0.1pp$760M
Financial - Credit Services2.2%-0.9pp$706M
Country
US83.9%-6.8pp
CA9.4%+6.1pp
GB1.6%+0.6pp
IE1.4%+0.0pp
CH0.6%-0.0pp
Unknown0.6%+0.1pp
FR0.6%
NL0.3%-0.0pp
Top 5: 18.9% · Top 10: 27.6% · Top 25: 40.7%
Top buys this quarter · 15
| AZN AstraZeneca PLCnew | +$412M |
| RY Royal Bank of Canada | +$266M |
| MSFT Microsoft Corporation | +$1.55B |
| AAPL Apple Inc. | +$197M |
| ETN Eaton Corporation plc | +$170M |
| CEG Constellation Energy Corporati | +$164M |
| TMUS T-Mobile US, Inc. | +$157M |
| AMZN Amazon.com, Inc. | +$142M |
| AVGO Broadcom Inc. | +$141M |
| GWW W.W. Grainger, Inc. | +$125M |
Top sells this quarter · 15
| CIEN Ciena Corporation | −$195M |
| LIN Linde plc | −$193M |
| KLAC KLA Corporation | −$147M |
| SNDK Sandisk Corporation | −$123M |
| ARMK Aramarkexit | −$109M |
| PEP PepsiCo, Inc. | −$95M |
| BAC Bank of America Corporation | −$93M |
| PH Parker-Hannifin Corporation | −$51M |
| ADI Analog Devices, Inc. | −$45M |
| SOLS Solstice Advanced Materials Inexit | −$42M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $32.11B | 1323 | +22.51% | +17.59% | +4.92% | +3.04B |
| 2025-12-31 | $29.67B | 1337 | +19.69% | +17.72% | +1.97% | +1.82B |
| 2025-09-30 | $27.16B | 1256 | +20.99% | +17.52% | +3.47% | +1.64B |
| 2025-06-30 | $23.39B | 1227 | +19.20% | +14.94% | +4.25% | -2.41B |
| 2025-03-31 | $23.09B | 1233 | +7.06% | +8.30% | -1.25% | +0.45B |
| 2024-12-31 | $23.66B | 1220 | +20.21% | +24.89% | -4.68% | +4.46B |
| 2024-09-30 | $18.51B | 1221 | +29.07% | +36.04% | -6.97% | +1.60B |
| 2024-06-30 | $15.74B | 1225 | +15.79% | +24.49% | -8.70% | +1.92B |
| 2024-03-31 | $13.77B | 1215 | +23.30% | +29.62% | -6.32% | -0.35B |
| 2023-12-31 | $13.13B | 1255 | +20.74% | +26.18% | -5.44% | -1.98B |
| 2023-09-30 | $13.58B | 1312 | +12.40% | +21.57% | -9.17% | +0.12B |
| 2023-06-30 | $13.96B | 1370 | +9.13% | +19.42% | -10.30% | -0.22B |
| 2023-03-31 | $13.27B | 1383 | -13.41% | -7.82% | -5.59% | +0.08B |
| 2022-12-31 | $12.54B | 1407 | -21.52% | -18.17% | -3.35% | +0.53B |
| 2022-09-30 | $11.59B | 1355 | -15.91% | -15.51% | -0.40% | +0.98B |
| 2022-06-30 | $11.33B | 1325 | -9.66% | -10.62% | +0.96% | -2.29B |