Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+1.33%
adds when stocks drop
when a holding falls −10%+
Middle response
-2.98%
baseline attrition
Rally response
-7.90%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $1.69B | 8.2% | +60.9% | 2.3 yr |
| GOOGLAlphabet Inc. | $1.62B | 7.9% | — | 10.3 yr |
| MSFTMicrosoft Corporation | $1.59B | 7.8% | -0.6% | 10.3 yr |
| AMZNAmazon.com, Inc. | $1.06B | 5.1% | +9.5% | 6.8 yr |
| AVGOBroadcom Inc. | $767M | 3.7% | +86.0% | 1.5 yr |
| AAPLApple Inc. | $674M | 3.3% | +14.7% | 1.5 yr |
| TJXThe TJX Companies, Inc. | $570M | 2.8% | +32.7% | 10.3 yr |
| TXNTexas Instruments Incorp | $453M | 2.2% | +11.4% | 7.5 yr |
| JPMJPMorgan Chase & Co. | $425M | 2.1% | +21.8% | 1.3 yr |
| VVisa Inc. | $425M | 2.1% | -13.1% | 10.3 yr |
| NFLXNetflix, Inc. | $410M | 2.0% | +3.1% | 2.8 yr |
| APHAmphenol Corporation | $401M | 2.0% | +93.6% | 10.3 yr |
| LLYEli Lilly and Company | $388M | 1.9% | +12.2% | 2.8 yr |
| METAMeta Platforms, Inc. | $360M | 1.8% | -0.4% | 2.5 yr |
| AMDAdvanced Micro Devices, | $351M | 1.7% | +98.0% | 1.5 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors20.7%+7.0pp$4.26B
Internet Content & Information11.1%+1.7pp$2.27B
Software - Infrastructure10.2%-0.5pp$2.10B
Specialty Retail6.2%-2.0pp$1.27B
Drug Manufacturers - General6.1%+1.0pp$1.25B
Medical - Devices3.5%+0.5pp$713M
Entertainment3.5%-0.9pp$713M
Banks - Diversified3.4%-0.3pp$698M
Financial - Credit Services3.4%+0.0pp$695M
Consumer Electronics3.3%+2.0pp$674M
Country
US96.6%+1.7pp
LU1.4%-1.0pp
IE1.1%-0.3pp
GB0.9%-0.4pp
Top 5: 32.8% · Top 10: 45.2% · Top 25: 67.7%
Top buys this quarter · 15
| NVDA NVIDIA Corporation | +$442M |
| META Meta Platforms, Inc. | +$258M |
| MA Mastercard Incorporated | +$212M |
| JNJ Johnson & Johnsonnew | +$148M |
| AVGO Broadcom Inc. | +$123M |
| INTU Intuit Inc.new | +$110M |
| PANW Palo Alto Networks, Inc. | +$75M |
| NOW ServiceNow, Inc. | +$74M |
| KKR KKR & Co. Inc.new | +$68M |
| PH Parker-Hannifin Corporationnew | +$63M |
Top sells this quarter · 15
| APH Amphenol Corporation | −$444M |
| AMAT Applied Materials, Inc. | −$264M |
| KLAC KLA Corporation | −$264M |
| AME AMETEK, Inc. | −$159M |
| TJX The TJX Companies, Inc. | −$151M |
| ADI Analog Devices, Inc. | −$103M |
| BAC Bank of America Corporation | −$88M |
| AMD Advanced Micro Devices, Inc. | −$87M |
| LIN Linde plc | −$81M |
| DIS The Walt Disney Company | −$72M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $20.52B | 78 | +17.56% | +17.59% | -0.04% | -0.48B |
| 2025-12-31 | $22.75B | 73 | +22.41% | +17.72% | +4.70% | -0.43B |
| 2025-09-30 | $22.42B | 68 | +18.62% | +17.52% | +1.10% | -0.16B |
| 2025-06-30 | $21.32B | 66 | +15.92% | +14.94% | +0.98% | +0.57B |
| 2025-03-31 | $17.85B | 65 | -0.66% | +8.30% | -8.96% | -0.39B |
| 2024-12-31 | $18.97B | 58 | +14.27% | +24.89% | -10.62% | +0.76B |
| 2024-09-30 | $18.17B | 40 | +30.49% | +36.04% | -5.54% | -0.40B |
| 2024-06-30 | $17.95B | 40 | +16.78% | +24.49% | -7.71% | +0.52B |
| 2024-03-31 | $17.49B | 40 | +25.51% | +29.62% | -4.11% | -0.31B |
| 2023-12-31 | $16.09B | 39 | +24.45% | +26.18% | -1.73% | +0.91B |
| 2023-09-30 | $13.27B | 33 | +17.66% | +21.57% | -3.90% | +0.44B |
| 2023-06-30 | $13.86B | 23 | +22.56% | +19.42% | +3.13% | -3.15B |
| 2023-03-31 | $15.88B | 23 | -3.57% | -7.82% | +4.24% | -2.66B |
| 2022-12-31 | $16.91B | 27 | +8.17% | +7.56% | +0.61% | -0.80B |
| 2022-09-30 | $16.37B | 29 | -3.54% | -4.93% | +1.39% | -0.36B |
| 2022-06-30 | $17.34B | 31 | -15.72% | -16.11% | +0.39% | +0.05B |