Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-7.23%
trims when stocks drop
when a holding falls −10%+
Middle response
-0.25%
baseline attrition
Rally response
+0.91%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $1.98B | 6.6% | +60.9% | 10.0 yr |
| AAPLApple Inc. | $1.81B | 6.0% | +14.7% | 10.5 yr |
| MSFTMicrosoft Corporation | $1.37B | 4.6% | -0.6% | 10.5 yr |
| AMZNAmazon.com, Inc. | $1.07B | 3.6% | +9.5% | 10.5 yr |
| GOOGLAlphabet Inc. | $827M | 2.8% | — | 10.3 yr |
| GOOGAlphabet Inc. | $819M | 2.7% | +84.3% | 10.3 yr |
| AVGOBroadcom Inc. | $813M | 2.7% | +86.0% | 6.0 yr |
| LLYEli Lilly and Company | $652M | 2.2% | +12.2% | 10.5 yr |
| METAMeta Platforms, Inc. | $646M | 2.2% | -0.4% | 10.3 yr |
| JNJJohnson & Johnson | $474M | 1.6% | +51.5% | 10.5 yr |
| JPMJPMorgan Chase & Co. | $462M | 1.5% | +21.8% | 6.8 yr |
| NFLXNetflix, Inc. | $323M | 1.1% | +3.1% | 6.5 yr |
| TMOThermo Fisher Scientific | $312M | 1.0% | -0.9% | 10.5 yr |
| ABBVAbbVie Inc. | $300M | 1.0% | +7.3% | 10.5 yr |
| MAMastercard Incorporated | $262M | 0.9% | -8.5% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors14.6%+5.1pp$4.39B
Internet Content & Information8.2%+1.9pp$2.45B
Drug Manufacturers - General7.0%-0.1pp$2.09B
Consumer Electronics6.9%+0.5pp$2.06B
Software - Infrastructure6.3%-1.4pp$1.89B
Specialty Retail5.0%+3.0pp$1.50B
Banks - Diversified3.6%+1.0pp$1.07B
Software - Application2.7%-1.9pp$801M
Medical - Devices2.6%-0.8pp$786M
Financial - Credit Services2.0%-0.8pp$608M
Country
US93.7%-0.9pp
IE0.9%-0.2pp
GB0.9%+0.1pp
CN0.8%-0.1pp
TW0.6%+0.3pp
Unknown0.5%+0.3pp
PE0.4%+0.2pp
SG0.4%+0.1pp
Top 5: 23.5% · Top 10: 34.9% · Top 25: 47.5%
Top buys this quarter · 15
| NXT Nextpower Inc. | +$50M |
| MU Micron Technology, Inc. | +$36M |
| QCOM QUALCOMM Incorporated | +$32M |
| HD The Home Depot, Inc. | +$28M |
| PANW Palo Alto Networks, Inc. | +$28M |
| ALB Albemarle Corporation | +$27M |
| CRWD CrowdStrike Holdings, Inc. | +$25M |
| ENPH Enphase Energy, Inc. | +$23M |
| ZBRA Zebra Technologies Corporation | +$22M |
| STX Seagate Technology Holdings pl | +$20M |
Top sells this quarter · 15
| JPM JPMorgan Chase & Co. | −$94M |
| AMZN Amazon.com, Inc. | −$78M |
| AVGO Broadcom Inc. | −$75M |
| FIX Comfort Systems USA, Inc. | −$55M |
| LLY Eli Lilly and Company | −$52M |
| ZM Zoom Communications, Inc. | −$49M |
| RRX Regal Rexnord Corporation | −$44M |
| NVDA NVIDIA Corporation | −$40M |
| TMO Thermo Fisher Scientific Inc. | −$40M |
| TER Teradyne, Inc. | −$39M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $30.00B | 1491 | +14.27% | +17.59% | -3.32% | -1.10B |
| 2025-12-31 | $33.10B | 1495 | +15.99% | +17.72% | -1.73% | +0.85B |
| 2025-09-30 | $31.48B | 1499 | +12.77% | +17.52% | -4.75% | +1.27B |
| 2025-06-30 | $28.17B | 1513 | +11.33% | +14.94% | -3.61% | +1.31B |
| 2025-03-31 | $24.26B | 1527 | +1.73% | +8.30% | -6.57% | -0.72B |
| 2024-12-31 | $26.20B | 1542 | +14.22% | +24.89% | -10.67% | +1.02B |
| 2024-09-30 | $25.28B | 1521 | +27.58% | +36.04% | -8.46% | +0.93B |
| 2024-06-30 | $23.00B | 1519 | +12.97% | +24.49% | -11.52% | -0.50B |
| 2024-03-31 | $23.23B | 1561 | +17.45% | +29.62% | -12.17% | +1.20B |
| 2023-12-31 | $20.58B | 1555 | +16.19% | +26.18% | -9.99% | +0.70B |
| 2023-09-30 | $17.87B | 1563 | +9.69% | +21.57% | -11.88% | +0.37B |
| 2023-06-30 | $18.66B | 1567 | +12.02% | +19.42% | -7.40% | +0.47B |
| 2023-03-31 | $17.30B | 1563 | -9.00% | -7.82% | -1.18% | +0.43B |
| 2022-12-31 | $15.93B | 1556 | +5.03% | +7.56% | -2.53% | +0.25B |
| 2022-09-30 | $14.93B | 1563 | -4.24% | -4.93% | +0.69% | +0.18B |
| 2022-06-30 | $15.40B | 1607 | -14.57% | -16.11% | +1.54% | +0.07B |