Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-1.60%
trims when stocks drop
when a holding falls −10%+
Middle response
-1.83%
baseline attrition
Rally response
+4.82%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $10.57B | 6.8% | +60.9% | 10.5 yr |
| AAPLApple Inc. | $8.43B | 5.5% | +14.7% | 10.5 yr |
| MSFTMicrosoft Corporation | $6.55B | 4.2% | -0.6% | 10.5 yr |
| AMZNAmazon.com, Inc. | $5.13B | 3.3% | +9.5% | 10.5 yr |
| GOOGLAlphabet Inc. | $3.80B | 2.5% | — | 10.5 yr |
| GOOGAlphabet Inc. | $3.47B | 2.2% | +84.3% | 10.5 yr |
| AVGOBroadcom Inc. | $3.44B | 2.2% | +86.0% | 8.0 yr |
| METAMeta Platforms, Inc. | $2.90B | 1.9% | -0.4% | 10.5 yr |
| TSLATesla, Inc. | $2.77B | 1.8% | +43.4% | 10.5 yr |
| JPMJPMorgan Chase & Co. | $1.80B | 1.2% | +21.8% | 10.5 yr |
| GLDMSPDR Gold MiniShares Tru | $1.72B | 1.1% | — | 4.0 yr |
| LLYEli Lilly and Company | $1.63B | 1.1% | +12.2% | 10.5 yr |
| XOMExxon Mobil Corporation | $1.59B | 1.0% | +47.6% | 10.5 yr |
| BRK-BBerkshire Hathaway Inc. | $1.56B | 1.0% | — | 10.5 yr |
| JNJJohnson & Johnson | $1.38B | 0.9% | +51.5% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors13.8%+4.6pp$21.35B
Internet Content & Information7.0%+1.0pp$10.84B
Software - Infrastructure6.8%-0.8pp$10.51B
Consumer Electronics5.5%-0.2pp$8.45B
Specialty Retail4.2%-0.3pp$6.52B
Drug Manufacturers - General4.2%+0.0pp$6.43B
Asset Management3.6%+0.3pp$5.60B
Banks - Diversified2.6%+0.2pp$4.09B
Software - Application2.5%-1.3pp$3.84B
Aerospace & Defense2.3%+0.4pp$3.53B
Country
US95.0%+0.2pp
IE1.4%-0.2pp
GB0.7%-0.1pp
Unknown0.4%+0.1pp
CA0.4%-0.1pp
CH0.3%-0.0pp
SG0.2%+0.1pp
UY0.2%-0.1pp
Top 5: 22.3% · Top 10: 31.6% · Top 25: 44.0%
Top buys this quarter · 15
| COHR Coherent, Inc. | +$179M |
| USFD US Foods Holding Corp. | +$113M |
| LITE Lumentum Holdings Inc.new | +$99M |
| NU Nu Holdings Ltd. | +$89M |
| OPCH Option Care Health, Inc.new | +$70M |
| APGE Apogee Therapeutics, Inc.new | +$61M |
| CASY Casey's General Stores, Inc. | +$49M |
| BLSH Bullish | +$47M |
| HOOD Robinhood Markets, Inc. | +$472M |
| WMT Walmart Inc. | +$41M |
Top sells this quarter · 15
| AAPL Apple Inc. | −$502M |
| NVDA NVIDIA Corporation | −$456M |
| MSFT Microsoft Corporation | −$346M |
| AMZN Amazon.com, Inc. | −$265M |
| TER Teradyne, Inc. | −$436M |
| GOOG Alphabet Inc. | −$151M |
| AVGO Broadcom Inc. | −$145M |
| META Meta Platforms, Inc. | −$143M |
| MU Micron Technology, Inc. | −$995M |
| APH Amphenol Corporation | −$118M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $154.47B | 1047 | +18.23% | +17.59% | +0.64% | -6.99B |
| 2025-12-31 | $170.27B | 1049 | +18.59% | +17.72% | +0.88% | -6.17B |
| 2025-09-30 | $173.80B | 1050 | +20.55% | +17.52% | +3.03% | -0.28B |
| 2025-06-30 | $160.50B | 1034 | +18.19% | +14.94% | +3.25% | +0.31B |
| 2025-03-31 | $141.47B | 1031 | +5.83% | +8.30% | -2.48% | +0.55B |
| 2024-12-31 | $148.15B | 1041 | +19.31% | +24.89% | -5.58% | -0.74B |
| 2024-09-30 | $144.29B | 1050 | +31.25% | +36.04% | -4.79% | +0.21B |
| 2024-06-30 | $135.48B | 1069 | +18.55% | +24.49% | -5.95% | -12.20B |
| 2024-03-31 | $145.66B | 1118 | +25.85% | +29.62% | -3.77% | +0.62B |
| 2023-12-31 | $135.25B | 1122 | +27.09% | +26.18% | +0.91% | -3.02B |
| 2023-09-30 | $121.80B | 1131 | +18.23% | +21.57% | -3.34% | -1.51B |
| 2023-06-30 | $128.39B | 1133 | +16.99% | +19.42% | -2.44% | -16.07B |
| 2023-03-31 | $134.22B | 1146 | -9.35% | -7.82% | -1.53% | -2.55B |
| 2022-12-31 | $126.30B | 1180 | -18.22% | -18.17% | -0.05% | -2.22B |
| 2022-09-30 | $121.70B | 1199 | -14.00% | -15.51% | +1.51% | -1.87B |
| 2022-06-30 | $130.01B | 1214 | -8.99% | -10.62% | +1.63% | +4.77B |