Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-4.47%
trims when stocks drop
when a holding falls −10%+
Middle response
-1.75%
baseline attrition
Rally response
-8.82%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| TEVATeva Pharmaceutical Indu | $1.38B | 9.4% | +96.0% | 10.3 yr |
| NVMINova Ltd. | $941M | 6.4% | +135.6% | 8.5 yr |
| GOOGLAlphabet Inc. | $714M | 4.9% | — | 10.0 yr |
| NVDANVIDIA Corporation | $711M | 4.8% | +60.9% | 10.3 yr |
| AAPLApple Inc. | $589M | 4.0% | +14.7% | 10.3 yr |
| MSFTMicrosoft Corporation | $502M | 3.4% | -0.6% | 10.5 yr |
| XLIState Street Industrial | $474M | 3.2% | — | 10.5 yr |
| TSMTaiwan Semiconductor Man | $471M | 3.2% | +105.6% | 8.8 yr |
| PAVEGlobal X - U.S. Infrastr | $454M | 3.1% | — | 5.3 yr |
| PANWPalo Alto Networks, Inc. | $443M | 3.0% | -6.0% | 8.3 yr |
| XLVState Street Health Care | $416M | 2.8% | — | 10.5 yr |
| AMZNAmazon.com, Inc. | $406M | 2.8% | +9.5% | 9.8 yr |
| METAMeta Platforms, Inc. | $383M | 2.6% | -0.4% | 10.5 yr |
| TSEMTower Semiconductor Ltd. | $349M | 2.4% | +392.1% | 8.5 yr |
| CAMTCamtek Ltd. | $349M | 2.4% | +158.6% | 5.0 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors22.3%+15.2pp$3.28B
Asset Management22.0%-36.4pp$3.24B
Drug Manufacturers - Specialty & Generic9.4%+5.0pp$1.38B
Software - Infrastructure8.2%+5.6pp$1.20B
Internet Content & Information7.8%+5.3pp$1.15B
Asset Management - Global6.4%+3.0pp$939M
Aerospace & Defense4.1%+1.4pp$606M
Consumer Electronics4.0%+2.2pp$589M
Software - Application3.3%-0.0pp$491M
Specialty Retail3.3%+1.3pp$477M
Country
US71.0%-13.7pp
IL24.3%+11.8pp
TW3.2%+2.3pp
Unknown1.4%+0.6pp
UY0.1%+0.0pp
CA0.0%-0.1pp
CH0.0%+0.0pp
IE0.0%-0.4pp
Top 5: 29.5% · Top 10: 45.5% · Top 25: 74.7%
Top buys this quarter · 15
| AAPL Apple Inc. | +$499M |
| PANW Palo Alto Networks, Inc. | +$418M |
| NVDA NVIDIA Corporation | +$403M |
| NVMI Nova Ltd. | +$303M |
| MSFT Microsoft Corporation | +$292M |
| META Meta Platforms, Inc. | +$279M |
| ESLT Elbit Systems Ltd. | +$154M |
| LRCX Lam Research Corporation | +$154M |
| COST Costco Wholesale Corporation | +$148M |
| AMZN Amazon.com, Inc. | +$136M |
Top sells this quarter · 15
| SNPS Synopsys, Inc. | −$79M |
| BAC Bank of America Corporation | −$62M |
| TSEM Tower Semiconductor Ltd. | −$272M |
| JPM JPMorgan Chase & Co. | −$44M |
| UAL United Airlines Holdings, Inc. | −$30M |
| INMD InMode Ltd.exit | −$12M |
| CIEN Ciena Corporation | −$9M |
| GWW W.W. Grainger, Inc. | −$3M |
| BX Blackstone Inc. | −$3M |
| NFLX Netflix, Inc. | −$3M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $14.69B | 500 | +48.56% | +17.59% | +30.97% | +3.12B |
| 2025-12-31 | $11.51B | 425 | +36.85% | +17.72% | +19.13% | -0.83B |
| 2025-09-30 | $11.11B | 460 | +30.04% | +17.52% | +12.52% | +1.25B |
| 2025-06-30 | $8.74B | 428 | +17.22% | +14.94% | +2.28% | -0.27B |
| 2025-03-31 | $7.64B | 474 | +0.99% | +8.30% | -7.31% | +1.99B |
| 2024-12-31 | $6.11B | 465 | +19.15% | +24.89% | -5.74% | -0.02B |
| 2024-09-30 | $5.80B | 487 | +21.39% | +36.04% | -14.64% | +0.40B |
| 2024-06-30 | $5.31B | 541 | +4.16% | +24.49% | -20.33% | +0.07B |
| 2024-03-31 | $5.16B | 533 | +5.22% | +29.62% | -24.41% | -1.05B |
| 2023-12-31 | $5.69B | 588 | +8.54% | +26.18% | -17.64% | +0.24B |
| 2023-09-30 | $5.07B | 645 | +4.70% | +21.57% | -16.87% | +1.53B |
| 2023-06-30 | $4.06B | 679 | +14.81% | +19.42% | -4.61% | -0.95B |
| 2023-03-31 | $4.88B | 691 | -8.46% | -7.82% | -0.65% | -0.25B |
| 2022-12-31 | $4.55B | 674 | -22.53% | -18.17% | -4.36% | +0.32B |
| 2022-09-30 | $4.08B | 691 | -17.05% | -15.51% | -1.54% | -0.47B |
| 2022-06-30 | $4.75B | 699 | -12.86% | -10.62% | -2.24% | -0.25B |