Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-20.61%
trims when stocks drop
when a holding falls −10%+
Middle response
-6.41%
baseline attrition
Rally response
-17.04%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $144M | 6.6% | +60.9% | 3.0 yr |
| UALUnited Airlines Holdings | $132M | 6.0% | +33.3% | 2.3 yr |
| AMZNAmazon.com, Inc. | $127M | 5.8% | +9.5% | 7.0 yr |
| MSFTMicrosoft Corporation | $99M | 4.5% | -0.6% | 3.8 yr |
| TSMTaiwan Semiconductor Man | $89M | 4.1% | +105.6% | 2.3 yr |
| BAThe Boeing Company | $88M | 4.0% | +16.7% | 3.8 yr |
| WBDWarner Bros. Discovery, | $84M | 3.8% | +155.9% | 1.3 yr |
| DHRDanaher Corporation | $82M | 3.8% | -7.1% | 4.3 yr |
| WWDWoodward, Inc. | $81M | 3.7% | +97.0% | 1.3 yr |
| VVisa Inc. | $77M | 3.5% | -13.1% | 5.0 yr |
| METAMeta Platforms, Inc. | $76M | 3.5% | -0.4% | 7.3 yr |
| VRTVertiv Holdings Co | $65M | 3.0% | +247.5% | 5.5 yr |
| SNSharkNinja, Inc. | $59M | 2.7% | +27.0% | 0.8 yr |
| AVGOBroadcom Inc. | $58M | 2.7% | +86.0% | 0.8 yr |
| CVNACarvana Co. | $58M | 2.7% | +50.4% | 2.3 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors14.4%+8.9pp$313M
Aerospace & Defense9.7%+4.8pp$211M
Unknown7.4%+3.1pp$160M
Airlines, Airports & Air Services6.0%-5.6pp$132M
Specialty Retail5.8%+3.0pp$127M
Software - Infrastructure4.5%-4.8pp$99M
Electrical Equipment & Parts4.5%+4.4pp$97M
Asset Management4.1%-1.6pp$89M
Entertainment3.8%$84M
Medical - Diagnostics & Research3.8%+1.6pp$82M
Country
US83.7%-10.1pp
Unknown7.4%+3.1pp
TW4.3%+2.4pp
CA1.8%+1.8pp
BR1.6%
LU0.8%
IE0.4%
GB0.1%+0.0pp
Top 5: 27.1% · Top 10: 46.0% · Top 25: 78.6%
Top buys this quarter · 15
| BA The Boeing Company | +$82M |
| NVDA NVIDIA Corporation | +$56M |
| DHR Danaher Corporation | +$50M |
| AMZN Amazon.com, Inc. | +$37M |
| META Meta Platforms, Inc. | +$34M |
| AEIS Advanced Energy Industries, Innew | +$32M |
| LHX L3Harris Technologies, Inc.new | +$31M |
| MSFT Microsoft Corporation | +$30M |
| V Visa Inc. | +$26M |
| AMAT Applied Materials, Inc.new | +$22M |
Top sells this quarter · 15
| PFE Pfizer Inc. | −$386M |
| UAL United Airlines Holdings, Inc. | −$156M |
| C Citigroup Inc. | −$133M |
| COF Capital One Financial Corporatexit | −$86M |
| WWD Woodward, Inc. | −$81M |
| CVS CVS Health Corporation | −$77M |
| SSNC SS&C Technologies Holdings, Inexit | −$70M |
| UNP Union Pacific Corporationexit | −$67M |
| TECK Teck Resources Limited | −$46M |
| GE GE Aerospaceexit | −$43M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $2.18B | 59 | +41.35% | +17.59% | +23.76% | -0.20B |
| 2025-12-31 | $2.48B | 58 | +41.25% | +17.72% | +23.53% | -0.36B |
| 2025-09-30 | $2.70B | 59 | +41.34% | +17.52% | +23.82% | -0.12B |
| 2025-06-30 | $2.59B | 54 | +41.85% | +14.94% | +26.91% | +0.17B |
| 2025-03-31 | $1.88B | 51 | +16.18% | +8.30% | +7.88% | -1.37B |
| 2024-12-31 | $3.40B | 66 | +37.53% | +24.89% | +12.64% | +1.17B |
| 2024-09-30 | $2.11B | 62 | +47.37% | +36.04% | +11.34% | -0.13B |
| 2024-06-30 | $2.05B | 70 | +37.21% | +24.49% | +12.71% | -0.26B |
| 2024-03-31 | $2.19B | 65 | +50.52% | +29.62% | +20.90% | -0.44B |
| 2023-12-31 | $2.33B | 67 | +42.21% | +26.18% | +16.03% | +0.34B |
| 2023-09-30 | $1.76B | 51 | +34.04% | +21.57% | +12.47% | -0.47B |
| 2023-06-30 | $2.19B | 49 | +24.97% | +19.42% | +5.55% | +0.12B |
| 2023-03-31 | $1.80B | 41 | -6.68% | -7.82% | +1.14% | +0.64B |
| 2022-12-31 | $1.08B | 40 | -14.80% | -18.17% | +3.38% | -0.07B |
| 2022-09-30 | $1.08B | 48 | -3.37% | -15.51% | +12.14% | -0.25B |
| 2022-06-30 | $1.40B | 54 | -13.80% | -16.11% | +2.31% | -1.36B |