Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-15.96%
trims when stocks drop
when a holding falls −10%+
Middle response
-4.36%
baseline attrition
Rally response
-17.50%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| IVViShares Core S&P 500 ETF | $1.19B | 7.1% | — | 2.5 yr |
| SPYState Street SPDR S&P 50 | $871M | 5.2% | +17.6% | 4.0 yr |
| NVDANVIDIA Corporation | $755M | 4.5% | +60.9% | 10.5 yr |
| AAPLApple Inc. | $651M | 3.9% | +14.7% | 10.5 yr |
| MSFTMicrosoft Corporation | $392M | 2.3% | -0.6% | 10.5 yr |
| AVGOBroadcom Inc. | $385M | 2.3% | +86.0% | 8.0 yr |
| GOOGLAlphabet Inc. | $358M | 2.1% | — | 10.5 yr |
| GOOGAlphabet Inc. | $321M | 1.9% | +84.3% | 10.5 yr |
| VOOVanguard S&P 500 ETF | $311M | 1.9% | — | 7.3 yr |
| MUMicron Technology, Inc. | $281M | 1.7% | +289.6% | 10.5 yr |
| AMZNAmazon.com, Inc. | $249M | 1.5% | +9.5% | 10.5 yr |
| XOMExxon Mobil Corporation | $240M | 1.4% | +47.6% | 10.5 yr |
| CSCOCisco Systems, Inc. | $217M | 1.3% | +28.1% | 10.5 yr |
| METAMeta Platforms, Inc. | $200M | 1.2% | -0.4% | 10.5 yr |
| PMPhilip Morris Internatio | $162M | 1.0% | +7.9% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management16.7%+13.9pp$2.79B
Semiconductors11.2%+4.2pp$1.88B
Internet Content & Information5.3%+1.8pp$895M
Drug Manufacturers - General4.4%+2.4pp$742M
Regulated Electric4.4%+2.1pp$739M
Consumer Electronics3.9%+1.2pp$651M
Software - Infrastructure3.4%-1.7pp$566M
Banks - Diversified2.6%+1.2pp$432M
Specialty Retail2.2%-2.0pp$366M
Telecommunications Services2.1%+1.3pp$348M
Country
US97.6%+6.4pp
IE0.9%+0.1pp
Unknown0.4%-0.2pp
GB0.3%+0.2pp
CA0.3%-1.4pp
SG0.2%-0.2pp
CH0.1%-0.2pp
CN0.1%-0.8pp
Top 5: 23.0% · Top 10: 32.9% · Top 25: 47.5%
Top buys this quarter · 15
| SPY State Street SPDR S&P 500 ETF | +$743M |
| DXCM DexCom, Inc. | +$39M |
| CSCO Cisco Systems, Inc. | +$33M |
| CAR Avis Budget Group, Inc. | +$28M |
| GD General Dynamics Corporation | +$28M |
| PM Philip Morris International In | +$26M |
| AZN AstraZeneca PLCnew | +$24M |
| TER Teradyne, Inc. | +$23M |
| KLAC KLA Corporation | +$23M |
| QCOM QUALCOMM Incorporated | +$23M |
Top sells this quarter · 15
| NVDA NVIDIA Corporation | −$452M |
| AAPL Apple Inc. | −$310M |
| MSFT Microsoft Corporation | −$272M |
| AMZN Amazon.com, Inc. | −$251M |
| CASY Casey's General Stores, Inc. | −$201M |
| ABBV AbbVie Inc. | −$155M |
| LECO Lincoln Electric Holdings, Inc | −$136M |
| GOOG Alphabet Inc. | −$119M |
| WCC WESCO International, Inc. | −$114M |
| MRK Merck & Co., Inc. | −$108M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $16.77B | 811 | +13.89% | +17.59% | -3.70% | -5.36B |
| 2025-12-31 | $22.83B | 825 | +12.33% | +17.72% | -5.39% | -62.55B |
| 2025-09-30 | $84.22B | 1523 | +10.26% | +17.52% | -7.26% | -1.99B |
| 2025-06-30 | $81.25B | 1575 | +11.50% | +14.94% | -3.45% | -6.26B |
| 2025-03-31 | $80.12B | 1639 | +0.79% | +8.30% | -7.51% | +1.76B |
| 2024-12-31 | $81.96B | 1512 | +13.22% | +24.89% | -11.67% | -9.76B |
| 2024-09-30 | $92.17B | 1581 | +27.91% | +36.04% | -8.13% | -0.92B |
| 2024-06-30 | $86.76B | 1826 | +12.24% | +24.49% | -12.25% | +0.07B |
| 2024-03-31 | $87.79B | 1557 | +19.92% | +29.62% | -9.70% | -4.71B |
| 2023-12-31 | $86.14B | 1576 | +16.56% | +26.18% | -9.62% | -2.88B |
| 2023-09-30 | $79.18B | 1566 | +12.89% | +21.57% | -8.67% | -2.76B |
| 2023-06-30 | $87.03B | 1586 | +15.46% | +19.42% | -3.96% | -1.44B |
| 2023-03-31 | $83.85B | 1631 | -7.42% | -7.82% | +0.40% | -4.10B |
| 2022-12-31 | $84.27B | 1674 | +8.89% | +7.56% | +1.33% | -4.10B |
| 2022-09-30 | $81.15B | 2151 | -3.71% | -4.93% | +1.22% | -4.21B |
| 2022-06-30 | $88.65B | 2495 | -15.40% | -16.11% | +0.71% | -4.49B |