Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+3.58%
adds when stocks drop
when a holding falls −10%+
Middle response
-1.94%
baseline attrition
Rally response
-7.41%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| MSFTMicrosoft Corporation | $2.05B | 7.3% | -0.6% | 10.5 yr |
| NVDANVIDIA Corporation | $1.78B | 6.4% | +60.9% | 10.5 yr |
| AMZNAmazon.com, Inc. | $1.55B | 5.5% | +9.5% | 10.5 yr |
| GOOGLAlphabet Inc. | $1.40B | 5.0% | — | 10.5 yr |
| AAPLApple Inc. | $1.22B | 4.4% | +14.7% | 10.5 yr |
| METAMeta Platforms, Inc. | $941M | 3.4% | -0.4% | 10.5 yr |
| AVGOBroadcom Inc. | $760M | 2.7% | +86.0% | 8.3 yr |
| VVisa Inc. | $603M | 2.2% | -13.1% | 10.5 yr |
| TEAMAtlassian Corporation | $551M | 2.0% | -67.8% | 3.3 yr |
| MAMastercard Incorporated | $548M | 2.0% | -8.5% | 10.5 yr |
| ORCLOracle Corporation | $415M | 1.5% | +5.9% | 10.5 yr |
| HPQHP Inc. | $380M | 1.4% | -27.1% | 10.5 yr |
| LLYEli Lilly and Company | $314M | 1.1% | +12.2% | 10.5 yr |
| TSLATesla, Inc. | $313M | 1.1% | +43.4% | 9.5 yr |
| GOOGAlphabet Inc. | $307M | 1.1% | +84.3% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors13.7%+3.1pp$3.85B
Software - Infrastructure10.5%-2.2pp$2.93B
Internet Content & Information10.2%+0.5pp$2.86B
Specialty Retail6.1%-0.3pp$1.71B
Financial - Credit Services4.4%+0.9pp$1.24B
Consumer Electronics4.4%+0.8pp$1.23B
Software - Application3.9%+0.4pp$1.09B
Drug Manufacturers - General3.3%-0.4pp$936M
Banks - Diversified2.8%+0.3pp$792M
Industrial - Machinery1.9%+0.3pp$530M
Country
US91.8%+0.7pp
AU2.0%+1.9pp
IE1.0%-0.6pp
IL1.0%-0.3pp
GB0.7%-0.0pp
Unknown0.7%-1.0pp
CH0.7%-0.1pp
BR0.4%+0.2pp
Top 5: 28.5% · Top 10: 40.7% · Top 25: 54.7%
Top buys this quarter · 15
| TEAM Atlassian Corporation | +$551M |
| AVGO Broadcom Inc. | +$247M |
| ORCL Oracle Corporation | +$218M |
| HPQ HP Inc. | +$177M |
| AMZN Amazon.com, Inc. | +$177M |
| MSFT Microsoft Corporation | +$2.05B |
| NOW ServiceNow, Inc. | +$132M |
| MRVL Marvell Technology, Inc. | +$101M |
| PLTR Palantir Technologies Inc. | +$70M |
| TMUS T-Mobile US, Inc. | +$69M |
Top sells this quarter · 15
| CRM Salesforce, Inc. | −$319M |
| LRCX Lam Research Corporation | −$164M |
| TSM Taiwan Semiconductor Manufactu | −$154M |
| MOD Modine Manufacturing Company | −$148M |
| META Meta Platforms, Inc. | −$142M |
| SANM Sanmina Corporation | −$117M |
| VIAV Viavi Solutions Inc. | −$87M |
| MTZ MasTec, Inc. | −$87M |
| AAPL Apple Inc. | −$84M |
| MA Mastercard Incorporated | −$82M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $28.04B | 1233 | +19.87% | +17.59% | +2.28% | +1.76B |
| 2025-12-31 | $28.65B | 730 | +24.75% | +17.72% | +7.03% | +1.25B |
| 2025-09-30 | $26.74B | 730 | +25.09% | +17.52% | +7.57% | -0.00B |
| 2025-06-30 | $24.12B | 715 | +17.96% | +14.94% | +3.02% | -0.84B |
| 2025-03-31 | $21.69B | 738 | +5.78% | +8.30% | -2.53% | -0.36B |
| 2024-12-31 | $23.11B | 732 | +21.68% | +24.89% | -3.20% | +0.36B |
| 2024-09-30 | $22.15B | 714 | +33.56% | +36.04% | -2.47% | +0.23B |
| 2024-06-30 | $20.96B | 708 | +23.24% | +24.49% | -1.26% | +1.17B |
| 2024-03-31 | $19.18B | 705 | +30.69% | +29.62% | +1.07% | -1.97B |
| 2023-12-31 | $19.26B | 645 | +31.83% | +26.18% | +5.65% | +0.39B |
| 2023-09-30 | $16.74B | 656 | +24.03% | +21.57% | +2.46% | -0.05B |
| 2023-06-30 | $17.39B | 663 | +22.03% | +19.42% | +2.61% | +0.13B |
| 2023-03-31 | $15.78B | 646 | -4.38% | -7.82% | +3.44% | +0.07B |
| 2022-12-31 | $14.19B | 636 | +6.09% | +7.56% | -1.47% | +0.43B |
| 2022-09-30 | $12.97B | 646 | -5.06% | -4.93% | -0.13% | -0.54B |
| 2022-06-30 | $14.22B | 652 | -14.27% | -16.11% | +1.84% | -0.19B |