Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-1.19%
trims when stocks drop
when a holding falls −10%+
Middle response
-0.44%
baseline attrition
Rally response
+1.87%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $2.32B | 6.7% | +60.9% | 10.3 yr |
| MSFTMicrosoft Corporation | $2.23B | 6.5% | -0.6% | 10.3 yr |
| AAPLApple Inc. | $1.84B | 5.3% | +14.7% | 10.3 yr |
| GOOGLAlphabet Inc. | $1.56B | 4.5% | — | 10.5 yr |
| AVGOBroadcom Inc. | $1.41B | 4.1% | +86.0% | 8.0 yr |
| AMZNAmazon.com, Inc. | $1.34B | 3.9% | +9.5% | 10.5 yr |
| METAMeta Platforms, Inc. | $952M | 2.8% | -0.4% | 10.5 yr |
| PLTRPalantir Technologies In | $909M | 2.6% | +73.3% | 5.0 yr |
| WELLWelltower Inc. | $847M | 2.5% | +31.2% | 10.3 yr |
| NFLXNetflix, Inc. | $822M | 2.4% | +3.1% | 10.5 yr |
| DLRDigital Realty Trust, In | $747M | 2.2% | +29.4% | 10.5 yr |
| GOOGAlphabet Inc. | $676M | 2.0% | +84.3% | 10.5 yr |
| PLDPrologis, Inc. | $644M | 1.9% | +22.3% | 10.5 yr |
| MUMicron Technology, Inc. | $636M | 1.8% | +289.6% | 10.5 yr |
| VTRVentas, Inc. | $440M | 1.3% | +21.4% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors15.7%+8.4pp$5.42B
Software - Infrastructure10.3%+3.8pp$3.57B
Internet Content & Information9.3%+3.5pp$3.22B
REIT - Specialty6.0%-2.5pp$2.06B
Consumer Electronics5.3%+0.8pp$1.84B
REIT - Healthcare Facilities4.8%-1.2pp$1.66B
REIT - Industrial4.3%-3.0pp$1.47B
Specialty Retail4.2%+0.5pp$1.45B
REIT - Retail3.0%-1.4pp$1.05B
REIT - Residential3.0%-3.6pp$1.02B
Country
US97.3%+0.9pp
IE0.7%-0.2pp
IN0.5%-0.8pp
GB0.4%-0.0pp
Unknown0.2%+0.1pp
CA0.2%+0.0pp
SG0.1%+0.1pp
TW0.1%+0.1pp
Top 5: 27.1% · Top 10: 41.2% · Top 25: 59.5%
Top buys this quarter · 15
| MSFT Microsoft Corporation | +$1.06B |
| NVDA NVIDIA Corporation | +$630M |
| AVGO Broadcom Inc. | +$442M |
| MU Micron Technology, Inc. | +$413M |
| AAPL Apple Inc. | +$352M |
| GOOG Alphabet Inc. | +$331M |
| PLTR Palantir Technologies Inc. | +$257M |
| UNH UnitedHealth Group Incorporate | +$248M |
| AMZN Amazon.com, Inc. | +$197M |
| ORCL Oracle Corporation | +$192M |
Top sells this quarter · 15
| CRWD CrowdStrike Holdings, Inc. | −$564M |
| PG The Procter & Gamble Company | −$115M |
| INVH Invitation Homes Inc. | −$106M |
| DLR Digital Realty Trust, Inc. | −$703M |
| O Realty Income Corporation | −$69M |
| AXP American Express Company | −$62M |
| HST Host Hotels & Resorts, Inc. | −$58M |
| IRM Iron Mountain Incorporated | −$303M |
| EQIX Equinix, Inc. | −$380M |
| ESS Essex Property Trust, Inc. | −$44M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $34.50B | 1094 | +13.21% | +17.59% | -4.38% | +4.82B |
| 2025-12-31 | $30.74B | 1320 | +13.83% | +17.72% | -3.89% | +1.17B |
| 2025-09-30 | $29.49B | 1314 | +12.95% | +17.52% | -4.57% | +0.82B |
| 2025-06-30 | $27.00B | 1279 | +17.32% | +14.94% | +2.38% | +1.02B |
| 2025-03-31 | $23.60B | 1259 | +8.74% | +8.30% | +0.44% | +2.05B |
| 2024-12-31 | $22.21B | 1259 | +15.88% | +24.89% | -9.01% | +0.87B |
| 2024-09-30 | $21.44B | 1251 | +33.26% | +36.04% | -2.77% | +1.01B |
| 2024-06-30 | $18.52B | 1288 | +13.72% | +24.49% | -10.77% | +0.73B |
| 2024-03-31 | $17.43B | 1292 | +18.41% | +29.62% | -11.21% | +1.09B |
| 2023-12-31 | $15.80B | 1298 | +21.25% | +26.18% | -4.92% | +0.05B |
| 2023-09-30 | $13.76B | 1262 | +10.20% | +21.57% | -11.36% | -0.24B |
| 2023-06-30 | $14.88B | 1296 | +10.49% | +19.42% | -8.93% | -0.09B |
| 2023-03-31 | $14.09B | 1275 | -11.45% | -7.82% | -3.63% | +0.46B |
| 2022-12-31 | $12.86B | 1279 | -20.26% | -18.17% | -2.09% | +0.51B |
| 2022-09-30 | $11.88B | 1295 | -14.86% | -15.51% | +0.65% | -0.25B |
| 2022-06-30 | $12.85B | 1303 | -9.27% | -10.62% | +1.35% | -0.47B |