Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+2.16%
adds when stocks drop
when a holding falls −10%+
Middle response
+6.93%
steady accumulation
Rally response
-9.23%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| SPYState Street SPDR S&P 50 | $1.02B | 11.2% | +17.6% | 8.5 yr |
| QQQMInvesco NASDAQ 100 ETF | $612M | 6.7% | — | 3.5 yr |
| QQQInvesco QQQ Trust, Serie | $363M | 4.0% | — | 7.8 yr |
| XLCState Street Communicati | $351M | 3.9% | — | 5.5 yr |
| SMHVanEck Semiconductor ETF | $347M | 3.8% | — | 5.8 yr |
| ESLTElbit Systems Ltd. | $333M | 3.7% | +122.6% | 8.0 yr |
| TSEMTower Semiconductor Ltd. | $308M | 3.4% | +392.1% | 7.8 yr |
| AMZNAmazon.com, Inc. | $282M | 3.1% | +9.5% | 8.5 yr |
| NVDANVIDIA Corporation | $268M | 2.9% | +60.9% | 8.5 yr |
| METAMeta Platforms, Inc. | $254M | 2.8% | -0.4% | 8.5 yr |
| — | $248M | 2.7% | — | 3.3 yr |
| NVMINova Ltd. | $247M | 2.7% | +135.6% | 8.5 yr |
| XLVState Street Health Care | $233M | 2.6% | — | 8.5 yr |
| XLYState Street Consumer Di | $216M | 2.4% | — | 8.0 yr |
| XLIState Street Industrial | $215M | 2.4% | — | 8.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management54.6%-0.7pp$4.98B
Semiconductors11.5%+3.0pp$1.05B
Aerospace & Defense4.7%+1.7pp$427M
Internet Content & Information4.6%+0.9pp$418M
Specialty Retail3.2%+0.9pp$292M
Unknown2.8%+1.1pp$255M
Financial - Credit Services2.0%-0.2pp$184M
Agricultural Inputs1.7%-1.3pp$152M
Software - Infrastructure1.6%-0.8pp$144M
Asset Management - Global1.4%-0.9pp$130M
Country
US80.5%-2.5pp
IL15.0%+1.8pp
Unknown2.8%+1.1pp
IE0.6%-0.7pp
LU0.4%+0.4pp
IN0.3%-0.2pp
AU0.1%
SG0.1%+0.0pp
Top 5: 29.6% · Top 10: 45.4% · Top 25: 72.1%
Top buys this quarter · 15
| SPY State Street SPDR S&P 500 ETF | +$132M |
| AMZN Amazon.com, Inc. | +$110M |
| META Meta Platforms, Inc. | +$88M |
| NVDA NVIDIA Corporation | +$72M |
| JPM JPMorgan Chase & Co. | +$57M |
| ICE Intercontinental Exchange, Inc | +$54M |
| ADI Analog Devices, Inc. | +$53M |
| V Visa Inc. | +$53M |
| SEDG SolarEdge Technologies, Inc. | +$44M |
| AVGO Broadcom Inc. | +$113M |
Top sells this quarter · 15
| PLD Prologis, Inc. | −$80M |
| VRT Vertiv Holdings Co | −$73M |
| PWR Quanta Services, Inc. | −$40M |
| FTNT Fortinet, Inc. | −$30M |
| ADBE Adobe Inc. | −$29M |
| COST Costco Wholesale Corporation | −$21M |
| CRM Salesforce, Inc. | −$21M |
| CARR Carrier Global Corporationexit | −$21M |
| TSEM Tower Semiconductor Ltd. | −$221M |
| INMD InMode Ltd. | −$12M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $9.12B | 232 | +40.28% | +17.59% | +22.69% | +0.62B |
| 2025-12-31 | $8.34B | 240 | +29.45% | +17.72% | +11.73% | +0.82B |
| 2025-09-30 | $7.26B | 234 | +33.33% | +17.52% | +15.81% | -0.00B |
| 2025-06-30 | $6.56B | 215 | +27.22% | +14.94% | +12.28% | +0.05B |
| 2025-03-31 | $5.43B | 216 | +8.24% | +8.30% | -0.06% | -0.15B |
| 2024-12-31 | $5.93B | 221 | +23.73% | +24.89% | -1.15% | -0.44B |
| 2024-09-30 | $5.97B | 226 | +29.32% | +36.04% | -6.71% | +0.04B |
| 2024-06-30 | $5.62B | 221 | +16.78% | +24.49% | -7.71% | +0.41B |
| 2024-03-31 | $5.10B | 230 | +20.56% | +29.62% | -9.06% | -2.22B |
| 2023-12-31 | $6.80B | 334 | +23.37% | +26.18% | -2.80% | -0.08B |
| 2023-09-30 | $6.17B | 331 | +16.19% | +21.57% | -5.38% | +0.15B |
| 2023-06-30 | $6.32B | 573 | +14.55% | +19.42% | -4.87% | +0.22B |
| 2023-03-31 | $5.79B | 352 | -13.19% | -7.82% | -5.38% | -0.62B |
| 2022-12-31 | $5.82B | 353 | -24.80% | -18.17% | -6.62% | -0.12B |
| 2022-09-30 | $5.65B | 355 | -20.50% | -15.51% | -4.99% | +0.17B |
| 2022-06-30 | $5.84B | 331 | -14.94% | -10.62% | -4.32% | +0.48B |