Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-19.26%
trims when stocks drop
when a holding falls −10%+
Middle response
-21.35%
baseline attrition
Rally response
-34.65%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $263M | 8.1% | +60.9% | 7.0 yr |
| AMZNAmazon.com, Inc. | $159M | 4.9% | +9.5% | 5.0 yr |
| SPYState Street SPDR S&P 50 | $132M | 4.1% | +17.6% | 3.3 yr |
| METAMeta Platforms, Inc. | $132M | 4.1% | -0.4% | 6.3 yr |
| TSMTaiwan Semiconductor Man | $119M | 3.7% | +105.6% | 5.3 yr |
| GLDSPDR Gold Shares | $99M | 3.1% | — | 4.3 yr |
| GOOGLAlphabet Inc. | $85M | 2.6% | — | 6.3 yr |
| UNHUnitedHealth Group Incor | $78M | 2.4% | -46.9% | 3.8 yr |
| ORCLOracle Corporation | $76M | 2.3% | +5.9% | 4.8 yr |
| AMDAdvanced Micro Devices, | $53M | 1.6% | +98.0% | 6.0 yr |
| TLTiShares 20+ Year Treasur | $53M | 1.6% | — | 4.0 yr |
| MSFTMicrosoft Corporation | $51M | 1.6% | -0.6% | 3.8 yr |
| USOUnited States Oil Fund L | $42M | 1.3% | — | 3.5 yr |
| GOOGAlphabet Inc. | $42M | 1.3% | +84.3% | 5.5 yr |
| SOXXiShares Semiconductor ET | $38M | 1.2% | — | 2.0 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors17.6%+3.9pp$569M
Asset Management17.0%+8.4pp$549M
Internet Content & Information8.5%+2.8pp$275M
Software - Infrastructure6.2%+4.7pp$199M
Specialty Retail5.8%+2.3pp$186M
Medical - Healthcare Plans3.6%+0.6pp$118M
Asset Management - Bonds2.5%-7.3pp$82M
Biotechnology2.4%+0.2pp$77M
Unknown1.5%-0.5pp$49M
Drug Manufacturers - General1.4%-0.6pp$46M
Country
US85.9%+2.1pp
TW3.7%+0.9pp
CA2.4%+0.9pp
Unknown1.5%-0.5pp
NL1.0%+0.7pp
IL0.8%-0.4pp
GB0.7%-1.0pp
CN0.7%-2.0pp
Top 5: 24.9% · Top 10: 37.0% · Top 25: 53.2%
Top buys this quarter · 15
| NVDA NVIDIA Corporation | +$134M |
| META Meta Platforms, Inc. | +$96M |
| TSM Taiwan Semiconductor Manufactu | +$79M |
| SPY State Street SPDR S&P 500 ETF | +$75M |
| AMZN Amazon.com, Inc. | +$62M |
| ORCL Oracle Corporation | +$56M |
| UNH UnitedHealth Group Incorporate | +$53M |
| AMD Advanced Micro Devices, Inc. | +$42M |
| GOOG Alphabet Inc. | +$28M |
| LITE Lumentum Holdings Inc. | +$25M |
Top sells this quarter · 15
| AAPL Apple Inc. | −$170M |
| WDC Western Digital Corporation | −$91M |
| AVGO Broadcom Inc. | −$58M |
| NFLX Netflix, Inc. | −$49M |
| SNDK Sandisk Corporation | −$41M |
| BE Bloom Energy Corporationexit | −$41M |
| VRT Vertiv Holdings Coexit | −$38M |
| TSLA Tesla, Inc. | −$37M |
| ASTS AST SpaceMobile, Inc. | −$30M |
| NEE NextEra Energy, Inc.exit | −$27M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $3.23B | 2612 | +39.35% | +17.59% | +21.76% | -0.33B |
| 2025-12-31 | $3.56B | 2446 | +34.38% | +17.72% | +16.66% | -1.20B |
| 2025-09-30 | $4.53B | 2494 | +33.04% | +17.52% | +15.52% | +0.27B |
| 2025-06-30 | $3.72B | 2289 | +16.53% | +14.94% | +1.59% | +0.46B |
| 2025-03-31 | $2.82B | 2243 | +3.70% | +8.30% | -4.60% | -0.60B |
| 2024-12-31 | $3.55B | 2305 | +13.77% | +24.89% | -11.12% | +0.47B |
| 2024-09-30 | $2.97B | 2139 | +22.82% | +36.04% | -13.21% | -0.16B |
| 2024-06-30 | $3.11B | 2253 | +28.18% | +24.49% | +3.69% | -0.42B |
| 2024-03-31 | $3.43B | 2225 | +35.25% | +29.62% | +5.63% | +0.03B |
| 2023-12-31 | $3.21B | 2261 | +37.45% | +26.18% | +11.27% | +0.15B |
| 2023-09-30 | $2.73B | 2122 | +20.96% | +21.57% | -0.61% | +0.26B |
| 2023-06-30 | $2.35B | 2234 | +2.10% | +19.42% | -17.33% | -0.04B |
| 2023-03-31 | $2.21B | 2176 | -30.51% | -7.82% | -22.69% | -0.04B |
| 2022-12-31 | $2.09B | 2366 | -31.16% | -18.17% | -12.99% | -0.46B |
| 2022-09-30 | $2.58B | 2569 | -11.40% | -4.93% | -6.47% | -0.11B |
| 2022-06-30 | $3.04B | 2482 | -26.12% | -16.11% | -10.01% | +0.71B |