Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-9.28%
trims when stocks drop
when a holding falls −10%+
Middle response
-3.25%
baseline attrition
Rally response
-0.20%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $4.58B | 6.5% | +60.9% | 10.5 yr |
| AAPLApple Inc. | $3.63B | 5.2% | +14.7% | 10.5 yr |
| MSFTMicrosoft Corporation | $2.71B | 3.9% | -0.6% | 10.5 yr |
| GOOGLAlphabet Inc. | $2.62B | 3.7% | — | 10.5 yr |
| AMZNAmazon.com, Inc. | $1.76B | 2.5% | +9.5% | 10.5 yr |
| AVGOBroadcom Inc. | $1.21B | 1.7% | +86.0% | 8.0 yr |
| METAMeta Platforms, Inc. | $950M | 1.4% | -0.4% | 10.5 yr |
| GOOGAlphabet Inc. | $915M | 1.3% | +84.3% | 10.5 yr |
| JPMJPMorgan Chase & Co. | $884M | 1.3% | +21.8% | 10.5 yr |
| ABBVAbbVie Inc. | $707M | 1.0% | +7.3% | 10.5 yr |
| LLYEli Lilly and Company | $601M | 0.9% | +12.2% | 10.5 yr |
| AMATApplied Materials, Inc. | $601M | 0.9% | +137.6% | 10.5 yr |
| PBR-APetróleo Brasileiro S.A | $582M | 0.8% | — | 3.5 yr |
| TSLATesla, Inc. | $580M | 0.8% | +43.4% | 10.5 yr |
| MAMastercard Incorporated | $548M | 0.8% | -8.5% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors13.1%+5.4pp$9.22B
Internet Content & Information7.2%+0.3pp$5.08B
Software - Infrastructure6.4%-1.1pp$4.51B
Consumer Electronics5.2%-0.2pp$3.65B
Drug Manufacturers - General5.0%-0.8pp$3.54B
Specialty Retail4.5%-2.4pp$3.13B
Banks - Diversified3.1%+0.0pp$2.21B
Software - Application3.0%-1.1pp$2.09B
Financial - Credit Services2.1%-2.0pp$1.46B
Banks - Regional1.9%-0.2pp$1.35B
Country
US85.8%+0.2pp
BR3.4%+1.1pp
IN2.3%-0.5pp
IE2.0%-0.2pp
CN1.2%-0.5pp
Unknown0.7%+0.5pp
MX0.6%+0.1pp
TW0.5%+0.1pp
Top 5: 21.8% · Top 10: 28.4% · Top 25: 39.5%
Top buys this quarter · 15
| SLB SLB N.V. | +$364M |
| AAPL Apple Inc. | +$259M |
| NVDA NVIDIA Corporation | +$4.58B |
| LOW Lowe's Companies, Inc. | +$222M |
| VRT Vertiv Holdings Co | +$217M |
| LNG Cheniere Energy, Inc. | +$182M |
| DG Dollar General Corporation | +$173M |
| BAH Booz Allen Hamilton Holding Co | +$154M |
| KO The Coca-Cola Company | +$142M |
| MAR Marriott International, Inc. | +$141M |
Top sells this quarter · 15
| MSFT Microsoft Corporation | −$238M |
| CRM Salesforce, Inc. | −$236M |
| JPM JPMorgan Chase & Co. | −$225M |
| TT Trane Technologies plc | −$221M |
| SPGI S&P Global Inc. | −$195M |
| BSX Boston Scientific Corporation | −$181M |
| META Meta Platforms, Inc. | −$149M |
| AMZN Amazon.com, Inc. | −$147M |
| STLD Steel Dynamics, Inc. | −$146M |
| PYPL PayPal Holdings, Inc. | −$130M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $70.16B | 841 | +13.21% | +17.59% | -4.38% | +3.76B |
| 2025-12-31 | $70.22B | 823 | +15.82% | +17.72% | -1.90% | +0.16B |
| 2025-09-30 | $69.03B | 857 | +16.08% | +17.52% | -1.44% | +3.13B |
| 2025-06-30 | $61.85B | 860 | +15.79% | +14.94% | +0.85% | +4.85B |
| 2025-03-31 | $51.48B | 899 | +5.72% | +8.30% | -2.59% | +0.44B |
| 2024-12-31 | $52.76B | 897 | +17.58% | +24.89% | -7.30% | +1.55B |
| 2024-09-30 | $50.34B | 904 | +29.60% | +36.04% | -6.44% | +0.94B |
| 2024-06-30 | $46.48B | 915 | +19.04% | +24.49% | -5.45% | -0.04B |
| 2024-03-31 | $46.02B | 925 | +24.48% | +29.62% | -5.15% | +1.64B |
| 2023-12-31 | $41.25B | 1094 | +22.82% | +26.18% | -3.36% | -0.70B |
| 2023-09-30 | $37.42B | 1013 | +17.74% | +21.57% | -3.82% | +0.18B |
| 2023-06-30 | $38.14B | 1037 | +15.24% | +19.42% | -4.19% | -0.63B |
| 2023-03-31 | $36.68B | 1041 | -6.29% | -7.82% | +1.53% | -0.16B |
| 2022-12-31 | $34.70B | 936 | +7.47% | +7.56% | -0.09% | +1.37B |
| 2022-09-30 | $31.01B | 959 | -4.44% | -4.93% | +0.49% | +0.17B |
| 2022-06-30 | $32.28B | 944 | -14.05% | -16.11% | +2.06% | -4.30B |