Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-3.03%
trims when stocks drop
when a holding falls −10%+
Middle response
-0.51%
baseline attrition
Rally response
-1.78%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| VGITVanguard Intermediate-Te | $1.39B | 12.2% | — | 2.3 yr |
| NVDANVIDIA Corporation | $617M | 5.4% | +60.9% | 10.5 yr |
| AAPLApple Inc. | $519M | 4.5% | +14.7% | 10.3 yr |
| MSFTMicrosoft Corporation | $509M | 4.5% | -0.6% | 10.5 yr |
| HYLBXtrackers USD High Yield | $411M | 3.6% | — | 6.3 yr |
| AMZNAmazon.com, Inc. | $386M | 3.4% | +9.5% | 10.5 yr |
| IAUiShares Gold Trust | $290M | 2.5% | — | 1.0 yr |
| AVGOBroadcom Inc. | $262M | 2.3% | +86.0% | 8.0 yr |
| GOOGAlphabet Inc. | $252M | 2.2% | +84.3% | 10.3 yr |
| XOMExxon Mobil Corporation | $199M | 1.7% | +47.6% | 10.5 yr |
| METAMeta Platforms, Inc. | $182M | 1.6% | -0.4% | 10.5 yr |
| VGKVanguard FTSE Europe ETF | $165M | 1.4% | — | 3.0 yr |
| LLYEli Lilly and Company | $159M | 1.4% | +12.2% | 10.5 yr |
| JPMJPMorgan Chase & Co. | $151M | 1.3% | +21.8% | 10.3 yr |
| GOOGLAlphabet Inc. | $140M | 1.2% | — | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management23.7%-2.9pp$2.71B
Semiconductors9.5%+3.5pp$1.08B
Software - Infrastructure5.9%+0.5pp$672M
Internet Content & Information5.6%+2.8pp$634M
Consumer Electronics4.5%+0.6pp$519M
Specialty Retail3.5%-0.8pp$399M
Financial - Credit Services3.4%+0.9pp$392M
Medical - Devices2.8%+1.6pp$315M
Drug Manufacturers - General2.4%+0.1pp$272M
Banks - Diversified2.3%+0.6pp$266M
Country
US95.9%+1.0pp
IE1.8%+0.2pp
NL0.7%+0.2pp
LU0.5%+0.5pp
CA0.5%+0.3pp
GB0.2%+0.0pp
TW0.1%+0.1pp
BR0.1%-0.0pp
Top 5: 30.2% · Top 10: 42.3% · Top 25: 60.0%
Top buys this quarter · 15
| V Visa Inc. | +$129M |
| ABBV AbbVie Inc. | +$74M |
| CCL Carnival Corporation & plc | +$60M |
| NFLX Netflix, Inc. | +$51M |
| ISRG Intuitive Surgical, Inc. | +$45M |
| WDC Western Digital Corporation | +$34M |
| HD The Home Depot, Inc. | +$27M |
| FAST Fastenal Company | +$22M |
| SCHW The Charles Schwab Corporation | +$18M |
| AME AMETEK, Inc. | +$17M |
Top sells this quarter · 15
| CAT Caterpillar Inc. | −$100M |
| GOOG Alphabet Inc. | −$81M |
| UNH UnitedHealth Group Incorporate | −$78M |
| MELI MercadoLibre, Inc.exit | −$69M |
| AZO AutoZone, Inc. | −$66M |
| MA Mastercard Incorporated | −$61M |
| MCK McKesson Corporation | −$58M |
| UBER Uber Technologies, Inc.exit | −$57M |
| AAPL Apple Inc. | −$57M |
| FMX Fomento Económico Mexicano, S | −$54M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $11.43B | 491 | +16.57% | +17.59% | -1.02% | -0.42B |
| 2025-12-31 | $12.28B | 494 | +17.10% | +17.72% | -0.62% | -0.57B |
| 2025-09-30 | $12.51B | 505 | +18.23% | +17.52% | +0.72% | -0.60B |
| 2025-06-30 | $12.29B | 521 | +17.02% | +14.94% | +2.07% | +0.14B |
| 2025-03-31 | $11.02B | 262 | +8.63% | +8.30% | +0.33% | -0.33B |
| 2024-12-31 | $11.71B | 309 | +23.38% | +24.89% | -1.50% | -0.27B |
| 2024-09-30 | $11.55B | 332 | +32.78% | +36.04% | -3.26% | +0.30B |
| 2024-06-30 | $10.65B | 313 | +21.94% | +24.49% | -2.55% | +1.30B |
| 2024-03-31 | $9.14B | 325 | +29.50% | +29.62% | -0.12% | -0.24B |
| 2023-12-31 | $8.51B | 337 | +25.49% | +26.18% | -0.69% | +1.00B |
| 2023-09-30 | $6.73B | 294 | +19.34% | +21.57% | -2.22% | -0.35B |
| 2023-06-30 | $7.29B | 318 | +17.59% | +19.42% | -1.83% | -0.14B |
| 2023-03-31 | $6.85B | 326 | -7.60% | -7.82% | +0.22% | -0.46B |
| 2022-12-31 | $6.84B | 329 | +6.14% | +7.56% | -1.42% | -0.10B |
| 2022-09-30 | $6.54B | 345 | -4.42% | -4.93% | +0.51% | -0.13B |
| 2022-06-30 | $6.98B | 706 | -14.66% | -16.11% | +1.45% | -0.13B |