Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-2.03%
trims when stocks drop
when a holding falls −10%+
Middle response
-2.84%
baseline attrition
Rally response
-3.19%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $1.45B | 5.6% | +60.9% | 10.5 yr |
| AAPLApple Inc. | $1.28B | 4.9% | +14.7% | 10.5 yr |
| MSFTMicrosoft Corporation | $893M | 3.4% | -0.6% | 10.5 yr |
| IEMGiShares Core MSCI Emergi | $869M | 3.4% | — | 5.5 yr |
| VNQVanguard Real Estate ETF | $763M | 2.9% | — | 10.5 yr |
| AMZNAmazon.com, Inc. | $685M | 2.6% | +9.5% | 10.5 yr |
| GOOGLAlphabet Inc. | $571M | 2.2% | — | 7.0 yr |
| GOOGAlphabet Inc. | $479M | 1.8% | +84.3% | 10.5 yr |
| AVGOBroadcom Inc. | $477M | 1.8% | +86.0% | 8.0 yr |
| METAMeta Platforms, Inc. | $426M | 1.6% | -0.4% | 10.5 yr |
| TSLATesla, Inc. | $359M | 1.4% | +43.4% | 7.5 yr |
| REETiShares Global REIT ETF | $296M | 1.1% | — | 0.5 yr |
| SCZiShares MSCI EAFE Small- | $290M | 1.1% | — | 5.3 yr |
| JPMJPMorgan Chase & Co. | $275M | 1.1% | +21.8% | 10.5 yr |
| INDAiShares MSCI India ETF | $265M | 1.0% | — | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management11.0%-1.0pp$2.84B
Semiconductors10.9%+3.6pp$2.82B
Internet Content & Information6.0%+1.2pp$1.56B
Software - Infrastructure5.3%-0.6pp$1.37B
Consumer Electronics4.9%-0.1pp$1.28B
Drug Manufacturers - General3.6%+0.1pp$935M
Specialty Retail3.4%-0.3pp$884M
Banks - Diversified2.7%+0.2pp$688M
Aerospace & Defense2.0%+0.3pp$514M
Software - Application1.8%-1.0pp$476M
Country
US94.8%+0.3pp
IE1.1%-0.1pp
GB0.6%-0.0pp
IN0.4%-0.2pp
BR0.4%+0.2pp
Unknown0.4%+0.0pp
UY0.2%-0.0pp
CH0.2%-0.0pp
Top 5: 20.3% · Top 10: 30.4% · Top 25: 43.7%
Top buys this quarter · 15
| KT KT Corporationnew | +$10M |
| GLOB Globant S.A. | +$10M |
| PANW Palo Alto Networks, Inc. | +$8M |
| FITB Fifth Third Bancorp | +$5M |
| HDB HDFC Bank Limited | +$64M |
| WELL Welltower Inc. | +$4M |
| WAT Waters Corporation | +$4M |
| IREN IREN Limitednew | +$4M |
| HBAN Huntington Bancshares Incorpor | +$3M |
| KGS Kodiak Gas Services, Inc.new | +$3M |
Top sells this quarter · 15
| TPC Tutor Perini Corporation | −$15M |
| AAPL Apple Inc. | −$11M |
| EXAS Exact Sciences Corporationexit | −$7M |
| BAP Credicorp Ltd. | −$47M |
| DAN Dana Incorporated | −$4M |
| TBPH Theravance Biopharma, Inc. | −$4M |
| INVA Innoviva, Inc. | −$4M |
| CFLT Confluent, Inc.exit | −$3M |
| VICR Vicor Corporation | −$2M |
| PL Planet Labs PBC | −$3M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $25.91B | 1546 | +17.69% | +17.59% | +0.10% | -0.65B |
| 2025-12-31 | $27.65B | 1470 | +16.90% | +17.72% | -0.82% | -0.10B |
| 2025-09-30 | $27.17B | 1458 | +17.13% | +17.52% | -0.39% | -0.66B |
| 2025-06-30 | $25.78B | 1470 | +15.86% | +14.94% | +0.91% | +1.11B |
| 2025-03-31 | $22.21B | 1496 | +6.25% | +8.30% | -2.05% | -1.42B |
| 2024-12-31 | $24.76B | 1537 | +19.74% | +24.89% | -5.14% | -0.06B |
| 2024-09-30 | $24.25B | 1526 | +31.31% | +36.04% | -4.73% | -0.22B |
| 2024-06-30 | $22.91B | 1512 | +18.22% | +24.49% | -6.27% | -10.78B |
| 2024-03-31 | $33.08B | 1545 | +24.32% | +29.62% | -5.30% | +1.05B |
| 2023-12-31 | $29.79B | 1546 | +23.91% | +26.18% | -2.26% | -1.36B |
| 2023-09-30 | $27.75B | 1613 | +17.50% | +21.57% | -4.06% | -0.72B |
| 2023-06-30 | $29.60B | 1633 | +16.55% | +19.42% | -2.87% | -0.39B |
| 2023-03-31 | $27.99B | 1704 | -8.07% | -7.82% | -0.26% | -0.36B |
| 2022-12-31 | $26.45B | 1674 | +6.43% | +7.56% | -1.13% | +0.14B |
| 2022-09-30 | $24.72B | 1672 | -4.63% | -4.93% | +0.30% | -0.37B |
| 2022-06-30 | $26.31B | 1682 | -15.50% | -16.11% | +0.61% | -0.23B |