Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-8.34%
trims when stocks drop
when a holding falls −10%+
Middle response
-3.48%
baseline attrition
Rally response
-2.43%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $4.02B | 7.5% | +60.9% | 6.5 yr |
| AAPLApple Inc. | $2.97B | 5.6% | +14.7% | 6.5 yr |
| MSFTMicrosoft Corporation | $2.45B | 4.6% | -0.6% | 6.5 yr |
| AMZNAmazon.com, Inc. | $1.84B | 3.4% | +9.5% | 6.5 yr |
| GOOGLAlphabet Inc. | $1.78B | 3.3% | — | 6.5 yr |
| METAMeta Platforms, Inc. | $1.42B | 2.6% | -0.4% | 6.5 yr |
| AVGOBroadcom Inc. | $1.33B | 2.5% | +86.0% | 6.5 yr |
| GOOGAlphabet Inc. | $1.27B | 2.4% | +84.3% | 6.5 yr |
| JPMJPMorgan Chase & Co. | $888M | 1.7% | +21.8% | 6.5 yr |
| MAMastercard Incorporated | $825M | 1.5% | -8.5% | 6.5 yr |
| LLYEli Lilly and Company | $780M | 1.5% | +12.2% | 6.5 yr |
| TSLATesla, Inc. | $728M | 1.4% | +43.4% | 6.5 yr |
| XOMExxon Mobil Corporation | $681M | 1.3% | +47.6% | 6.5 yr |
| ORCLOracle Corporation | $577M | 1.1% | +5.9% | 6.5 yr |
| JNJJohnson & Johnson | $481M | 0.9% | +51.5% | 6.5 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors13.9%+5.2pp$7.43B
Internet Content & Information8.5%+2.1pp$4.55B
Software - Infrastructure7.2%+0.1pp$3.88B
Consumer Electronics5.6%+0.1pp$2.98B
Drug Manufacturers - General4.8%+0.0pp$2.59B
Specialty Retail4.3%-0.2pp$2.29B
Asset Management3.4%+0.1pp$1.80B
Banks - Diversified3.1%-0.2pp$1.68B
Software - Application2.9%-1.4pp$1.57B
Regulated Electric2.3%-0.2pp$1.24B
Country
US96.3%+0.1pp
IE0.8%-0.0pp
Unknown0.6%-0.1pp
GB0.6%+0.2pp
CH0.4%-0.1pp
CA0.3%-0.2pp
NL0.3%+0.1pp
SG0.2%+0.2pp
Top 5: 24.4% · Top 10: 35.1% · Top 25: 48.2%
Top buys this quarter · 15
| BSX Boston Scientific Corporation | +$184M |
| GOOG Alphabet Inc. | +$110M |
| LIN Linde plc | +$108M |
| MU Micron Technology, Inc. | +$98M |
| MRK Merck & Co., Inc. | +$93M |
| KLAC KLA Corporation | +$90M |
| CSGP CoStar Group, Inc. | +$87M |
| AAPL Apple Inc. | +$2.97B |
| MA Mastercard Incorporated | +$825M |
| GILD Gilead Sciences, Inc. | +$56M |
Top sells this quarter · 15
| ABBV AbbVie Inc. | −$171M |
| TMO Thermo Fisher Scientific Inc. | −$114M |
| SPY State Street SPDR S&P 500 ETF | −$103M |
| COF Capital One Financial Corporat | −$73M |
| MTD Mettler-Toledo International I | −$68M |
| MAR Marriott International, Inc. | −$65M |
| SHW The Sherwin-Williams Company | −$60M |
| TJX The TJX Companies, Inc. | −$59M |
| ABT Abbott Laboratories | −$59M |
| MSFT Microsoft Corporation | −$58M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $53.58B | 1705 | +14.35% | +17.59% | -3.24% | +0.29B |
| 2025-12-31 | $56.54B | 1682 | +15.53% | +17.72% | -2.19% | -5.31B |
| 2025-09-30 | $60.84B | 1693 | +15.97% | +17.52% | -1.55% | -2.01B |
| 2025-06-30 | $58.35B | 1692 | +14.27% | +14.94% | -0.67% | +0.50B |
| 2025-03-31 | $52.20B | 1684 | +4.56% | +8.30% | -3.75% | -1.32B |
| 2024-12-31 | $56.22B | 1704 | +18.16% | +24.89% | -6.73% | -1.75B |
| 2024-09-30 | $56.80B | 1701 | +29.03% | +36.04% | -7.00% | -1.22B |
| 2024-06-30 | $54.67B | 1707 | +17.03% | +24.49% | -7.47% | -0.80B |
| 2024-03-31 | $54.70B | 1719 | +24.14% | +29.62% | -5.48% | +0.39B |
| 2023-12-31 | $50.48B | 1733 | +21.31% | +26.18% | -4.87% | -1.67B |
| 2023-09-30 | $46.80B | 1750 | +18.00% | +21.57% | -3.57% | -0.65B |
| 2023-06-30 | $49.29B | 1756 | +17.08% | +19.42% | -2.34% | -0.38B |
| 2023-03-31 | $46.18B | 1767 | -6.28% | -7.82% | +1.53% | -0.44B |
| 2022-12-31 | $44.34B | 1781 | -14.98% | -18.17% | +3.20% | +0.77B |
| 2022-09-30 | $40.20B | 2303 | -12.88% | -15.51% | +2.63% | +0.02B |
| 2022-06-30 | $42.06B | 2158 | -8.27% | -10.62% | +2.35% | -0.27B |