Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+3.10%
adds when stocks drop
when a holding falls −10%+
Middle response
-0.41%
baseline attrition
Rally response
-4.49%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $135M | 6.8% | +60.9% | 10.5 yr |
| AAPLApple Inc. | $106M | 5.3% | +14.7% | 10.5 yr |
| MSFTMicrosoft Corporation | $89M | 4.5% | -0.6% | 10.5 yr |
| GOOGAlphabet Inc. | $80M | 4.0% | +84.3% | 10.5 yr |
| AMZNAmazon.com, Inc. | $59M | 2.9% | +9.5% | 10.0 yr |
| BRK-BBerkshire Hathaway Inc. | $49M | 2.5% | — | 10.5 yr |
| JPMJPMorgan Chase & Co. | $47M | 2.4% | +21.8% | 10.5 yr |
| METAMeta Platforms, Inc. | $46M | 2.3% | -0.4% | 6.5 yr |
| TJXThe TJX Companies, Inc. | $45M | 2.3% | +32.7% | 10.5 yr |
| RTXRTX Corporation | $41M | 2.1% | +48.1% | 6.0 yr |
| AVGOBroadcom Inc. | $39M | 2.0% | +86.0% | 7.8 yr |
| VVisa Inc. | $36M | 1.8% | -13.1% | 10.0 yr |
| ADIAnalog Devices, Inc. | $35M | 1.8% | +60.2% | 10.0 yr |
| ABBVAbbVie Inc. | $35M | 1.8% | +7.3% | 10.5 yr |
| ASMLASML Holding N.V. | $35M | 1.7% | +100.9% | 4.0 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors16.0%+5.3pp$318M
Asset Management8.4%+0.2pp$167M
Internet Content & Information7.4%+1.2pp$148M
Consumer Electronics5.3%-0.5pp$106M
Software - Infrastructure4.7%-1.0pp$93M
Drug Manufacturers - General4.7%+0.8pp$93M
Aerospace & Defense4.6%+0.5pp$92M
Specialty Retail4.3%+0.0pp$85M
Financial - Credit Services3.3%-1.3pp$66M
Banks - Diversified3.0%-0.2pp$60M
Country
US91.6%+0.4pp
NL2.6%+0.3pp
GB2.0%+0.5pp
IE1.7%-0.7pp
CA1.5%-0.3pp
Unknown0.3%-0.2pp
CH0.2%-0.0pp
UY0.1%-0.0pp
Top 5: 23.6% · Top 10: 35.1% · Top 25: 58.0%
Top buys this quarter · 15
| AZN AstraZeneca PLCnew | +$14M |
| AVGO Broadcom Inc. | +$9M |
| PM Philip Morris International In | +$2M |
| AMZN Amazon.com, Inc. | +$59M |
| MSFT Microsoft Corporation | +$89M |
| EMR Emerson Electric Co. | +$1M |
| RTX RTX Corporation | +$1M |
| CAT Caterpillar Inc. | +$1M |
| WMB The Williams Companies, Inc.new | +$1M |
| KMI Kinder Morgan, Inc. | +$1M |
Top sells this quarter · 15
| ASML ASML Holding N.V. | −$32M |
| ENB Enbridge Inc. | −$3M |
| SPY State Street SPDR S&P 500 ETF | −$3M |
| MDLZ Mondelez International, Inc.exit | −$2M |
| ADP Automatic Data Processing, Incexit | −$1M |
| GILD Gilead Sciences, Inc. | −$1M |
| VRT Vertiv Holdings Co | −$4M |
| MU Micron Technology, Inc. | −$15M |
| LMT Lockheed Martin Corporation | −$0M |
| HBAN Huntington Bancshares Incorpor | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.99B | 266 | +19.00% | +17.59% | +1.41% | +0.04B |
| 2025-12-31 | $2.02B | 262 | +18.39% | +17.72% | +0.67% | +0.02B |
| 2025-09-30 | $1.94B | 261 | +16.26% | +17.52% | -1.26% | +0.06B |
| 2025-06-30 | $1.73B | 253 | +12.13% | +14.94% | -2.81% | +0.06B |
| 2025-03-31 | $1.52B | 242 | +3.91% | +8.30% | -4.39% | +0.03B |
| 2024-12-31 | $1.55B | 243 | +17.30% | +24.89% | -7.59% | +0.01B |
| 2024-09-30 | $1.53B | 234 | +29.77% | +36.04% | -6.26% | +0.06B |
| 2024-06-30 | $1.39B | 224 | +18.04% | +24.49% | -6.45% | +0.08B |
| 2024-03-31 | $1.29B | 221 | +24.58% | +29.62% | -5.04% | -0.39B |
| 2023-12-31 | $1.55B | 241 | +21.69% | +26.18% | -4.49% | +0.04B |
| 2023-09-30 | $1.35B | 228 | +19.23% | +21.57% | -2.34% | +0.05B |
| 2023-06-30 | $1.36B | 226 | +17.67% | +19.42% | -1.75% | +0.01B |
| 2023-03-31 | $1.26B | 226 | -4.13% | -7.82% | +3.68% | +0.02B |
| 2022-12-31 | $1.17B | 223 | -13.81% | -18.17% | +4.37% | -0.01B |
| 2022-09-30 | $1.07B | 213 | -12.66% | -15.51% | +2.85% | -0.02B |
| 2022-06-30 | $1.16B | 227 | -6.99% | -10.62% | +3.63% | -0.00B |