Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+2.30%
adds when stocks drop
when a holding falls −10%+
Middle response
-15.95%
baseline attrition
Rally response
-40.30%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| AMZNAmazon.com, Inc. | $1.20B | 13.4% | +9.5% | 9.3 yr |
| MSFTMicrosoft Corporation | $1.03B | 11.4% | -0.6% | 9.8 yr |
| IVViShares Core S&P 500 ETF | $1.02B | 11.3% | — | 2.3 yr |
| NVDANVIDIA Corporation | $700M | 7.8% | +60.9% | 8.5 yr |
| TSLATesla, Inc. | $541M | 6.0% | +43.4% | 7.8 yr |
| VOOVanguard S&P 500 ETF | $511M | 5.7% | — | 1.8 yr |
| SPYState Street SPDR S&P 50 | $386M | 4.3% | +17.6% | 8.5 yr |
| WBDWarner Bros. Discovery, | $280M | 3.1% | +155.9% | 3.8 yr |
| AAPLApple Inc. | $250M | 2.8% | +14.7% | 10.3 yr |
| GOOGAlphabet Inc. | $241M | 2.7% | +84.3% | 8.5 yr |
| GOOGLAlphabet Inc. | $197M | 2.2% | — | 9.8 yr |
| METAMeta Platforms, Inc. | $194M | 2.2% | -0.4% | 10.0 yr |
| AMDAdvanced Micro Devices, | $146M | 1.6% | +98.0% | 6.8 yr |
| ORCLOracle Corporation | $130M | 1.4% | +5.9% | 7.0 yr |
| AVGOBroadcom Inc. | $117M | 1.3% | +86.0% | 6.8 yr |
Portfolio composition (YoY)
Industry mix
Asset Management25.1%+11.3pp$2.26B
Software - Infrastructure13.9%+3.2pp$1.25B
Specialty Retail13.6%-0.0pp$1.22B
Semiconductors11.6%-3.6pp$1.04B
Internet Content & Information7.1%-1.3pp$641M
Auto - Manufacturers6.1%-9.5pp$545M
Entertainment3.5%+3.2pp$312M
Consumer Electronics2.8%-0.8pp$251M
Software - Application1.4%+0.6pp$122M
Engineering & Construction1.1%+0.7pp$98M
Country
US98.4%+6.2pp
CA0.6%+0.4pp
TW0.2%+0.0pp
Unknown0.2%-5.5pp
BM0.1%+0.0pp
GB0.1%-0.1pp
CN0.1%+0.1pp
BE0.1%
Top 5: 49.9% · Top 10: 68.4% · Top 25: 82.3%
Top buys this quarter · 15
| MSFT Microsoft Corporation | +$759M |
| AMZN Amazon.com, Inc. | +$646M |
| SPY State Street SPDR S&P 500 ETF | +$274M |
| TSLA Tesla, Inc. | +$201M |
| WBD Warner Bros. Discovery, Inc. | +$177M |
| WBS Webster Financial Corporation | +$59M |
| ORCL Oracle Corporation | +$56M |
| EA Electronic Arts Inc. | +$47M |
| PLTR Palantir Technologies Inc. | +$39M |
| IBM International Business Machine | +$36M |
Top sells this quarter · 15
| NVDA NVIDIA Corporation | −$796M |
| AMD Advanced Micro Devices, Inc. | −$356M |
| META Meta Platforms, Inc. | −$86M |
| FCX Freeport-McMoRan Inc. | −$52M |
| TSM Taiwan Semiconductor Manufactu | −$51M |
| FOX Fox Corporation | −$48M |
| KVUE Kenvue Inc. | −$42M |
| BTSG BrightSpring Health Services, | −$38M |
| NFLX Netflix, Inc. | −$37M |
| FLS Flowserve Corporation | −$36M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $9.00B | 785 | +39.76% | +17.59% | +22.17% | -0.76B |
| 2025-12-31 | $10.34B | 734 | +35.04% | +17.72% | +17.33% | +0.21B |
| 2025-09-30 | $9.81B | 1020 | +34.49% | +17.52% | +16.97% | -2.11B |
| 2025-06-30 | $10.24B | 758 | +24.77% | +14.94% | +9.83% | -1.05B |
| 2025-03-31 | $9.17B | 453 | +3.33% | +8.30% | -4.98% | +1.96B |
| 2024-12-31 | $7.90B | 652 | +25.95% | +24.89% | +1.06% | +4.96B |
| 2024-09-30 | $2.86B | 741 | +35.24% | +36.04% | -0.79% | +0.47B |
| 2024-06-30 | $2.22B | 908 | +22.33% | +24.49% | -2.16% | -0.74B |
| 2024-03-31 | $2.89B | 1187 | +32.75% | +29.62% | +3.12% | -0.48B |
| 2023-12-31 | $3.03B | 914 | +28.77% | +26.18% | +2.60% | +1.06B |
| 2023-09-30 | $1.78B | 955 | +23.02% | +21.57% | +1.46% | +0.68B |
| 2023-06-30 | $1.12B | 720 | +14.54% | +19.42% | -4.88% | +0.22B |
| 2023-03-31 | $817M | 478 | -12.31% | -7.82% | -4.49% | -0.80B |
| 2022-12-31 | $1.50B | 485 | -20.59% | -18.17% | -2.42% | -0.87B |
| 2022-09-30 | $2.25B | 560 | -16.34% | -15.51% | -0.84% | +0.54B |
| 2022-06-30 | $1.88B | 740 | -7.50% | -10.62% | +3.12% | +0.24B |