Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-4.35%
trims when stocks drop
when a holding falls −10%+
Middle response
-3.32%
baseline attrition
Rally response
-4.37%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| GOOGLAlphabet Inc. | $2.38B | 5.5% | — | 10.5 yr |
| MSFTMicrosoft Corporation | $2.00B | 4.6% | -0.6% | 10.5 yr |
| NVDANVIDIA Corporation | $1.97B | 4.6% | +60.9% | 9.3 yr |
| VVisa Inc. | $1.85B | 4.3% | -13.1% | 10.5 yr |
| JNJJohnson & Johnson | $1.62B | 3.8% | +51.5% | 10.5 yr |
| AAPLApple Inc. | $1.28B | 3.0% | +14.7% | 10.5 yr |
| PMPhilip Morris Internatio | $1.18B | 2.7% | +7.9% | 10.5 yr |
| BKNGBooking Holdings Inc. | $1.07B | 2.5% | -96.3% | 8.3 yr |
| EWEdwards Lifesciences Cor | $993M | 2.3% | +10.5% | 3.0 yr |
| ADSKAutodesk, Inc. | $964M | 2.2% | -8.6% | 5.8 yr |
| AMZNAmazon.com, Inc. | $928M | 2.2% | +9.5% | 9.5 yr |
| AVGOBroadcom Inc. | $888M | 2.1% | +86.0% | 8.0 yr |
| EAElectronic Arts Inc. | $851M | 2.0% | +41.7% | 7.3 yr |
| INTUIntuit Inc. | $813M | 1.9% | -29.3% | 10.5 yr |
| TKOTKO Group Holdings, Inc. | $730M | 1.7% | +33.8% | 2.8 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors8.8%+3.2pp$3.80B
Software - Infrastructure6.9%-5.4pp$2.99B
Internet Content & Information6.7%+1.4pp$2.91B
Drug Manufacturers - General6.1%+1.5pp$2.65B
Financial - Credit Services5.5%-2.3pp$2.38B
Medical - Devices5.0%+1.6pp$2.17B
Software - Application4.4%-2.2pp$1.89B
Electronic Gaming & Multimedia4.1%-0.5pp$1.78B
Financial - Data & Stock Exchanges3.2%-1.4pp$1.39B
Consumer Electronics3.0%+1.6pp$1.28B
Country
US84.6%-1.1pp
IE3.0%-1.0pp
CA2.6%+1.3pp
CN1.7%-0.1pp
TW1.2%+0.3pp
GB1.2%+0.8pp
IT0.9%
IL0.8%-0.8pp
Top 5: 22.8% · Top 10: 35.5% · Top 25: 59.1%
Top buys this quarter · 15
| AAPL Apple Inc. | +$525M |
| AZN AstraZeneca PLCnew | +$404M |
| EW Edwards Lifesciences Corporati | +$373M |
| CVX Chevron Corporation | +$330M |
| XOM Exxon Mobil Corporation | +$228M |
| INTU Intuit Inc. | +$813M |
| QCOM QUALCOMM Incorporated | +$205M |
| COP ConocoPhillips | +$179M |
| KEY KeyCorp | +$176M |
| BSX Boston Scientific Corporation | +$459M |
Top sells this quarter · 15
| MSFT Microsoft Corporation | −$443M |
| ICLR ICON Public Limited Companyexit | −$326M |
| TKO TKO Group Holdings, Inc. | −$280M |
| LNG Cheniere Energy, Inc. | −$227M |
| AVGO Broadcom Inc. | −$223M |
| NVDA NVIDIA Corporation | −$215M |
| TTWO Take-Two Interactive Software, | −$152M |
| VST Vistra Corp. | −$149M |
| ADSK Autodesk, Inc. | −$147M |
| TSM Taiwan Semiconductor Manufactu | −$147M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $43.13B | 237 | +8.43% | +17.59% | -9.16% | +1.06B |
| 2025-12-31 | $46.64B | 225 | +20.03% | +17.72% | +2.31% | -0.25B |
| 2025-09-30 | $46.31B | 210 | +22.02% | +17.52% | +4.51% | +1.81B |
| 2025-06-30 | $42.61B | 202 | +23.40% | +14.94% | +8.46% | +1.74B |
| 2025-03-31 | $35.94B | 193 | +9.95% | +8.30% | +1.64% | -1.37B |
| 2024-12-31 | $37.38B | 191 | +17.61% | +24.89% | -7.28% | -1.19B |
| 2024-09-30 | $37.47B | 194 | +27.14% | +36.04% | -8.90% | -0.78B |
| 2024-06-30 | $36.22B | 187 | +16.56% | +24.49% | -7.93% | +0.14B |
| 2024-03-31 | $35.61B | 185 | +21.48% | +29.62% | -8.14% | -0.28B |
| 2023-12-31 | $33.61B | 178 | +20.86% | +26.18% | -5.31% | -1.57B |
| 2023-09-30 | $31.62B | 177 | +20.28% | +21.57% | -1.29% | -1.56B |
| 2023-06-30 | $34.27B | 183 | +17.36% | +19.42% | -2.07% | +0.37B |
| 2023-03-31 | $32.10B | 180 | -4.91% | -7.82% | +2.91% | -1.03B |
| 2022-12-31 | $31.19B | 187 | +10.74% | +7.56% | +3.18% | -2.38B |
| 2022-09-30 | $30.32B | 190 | -5.53% | -4.93% | -0.60% | -1.46B |
| 2022-06-30 | $33.63B | 190 | -14.44% | -16.11% | +1.67% | +0.04B |