Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-0.05%
trims when stocks drop
when a holding falls −10%+
Middle response
-0.25%
baseline attrition
Rally response
-0.79%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| AMATApplied Materials, Inc. | $38M | 5.9% | +137.6% | 10.5 yr |
| TMOThermo Fisher Scientific | $28M | 4.4% | -0.9% | 10.5 yr |
| SYKStryker Corporation | $27M | 4.2% | -11.1% | 10.5 yr |
| MSFTMicrosoft Corporation | $27M | 4.2% | -0.6% | 10.5 yr |
| JPMJPMorgan Chase & Co. | $25M | 3.9% | +21.8% | 10.5 yr |
| GOOGLAlphabet Inc. | $20M | 3.2% | — | 4.3 yr |
| SCHWThe Charles Schwab Corpo | $20M | 3.1% | +21.5% | 10.5 yr |
| DEDeere & Company | $19M | 2.9% | +21.2% | 10.5 yr |
| AMZNAmazon.com, Inc. | $18M | 2.8% | +9.5% | 10.5 yr |
| CSCOCisco Systems, Inc. | $15M | 2.4% | +28.1% | 10.5 yr |
| EPDEnterprise Products Part | $14M | 2.2% | +18.7% | 10.5 yr |
| UNHUnitedHealth Group Incor | $14M | 2.1% | -46.9% | 10.5 yr |
| MARMarriott International, | $13M | 2.0% | +38.6% | 9.0 yr |
| RTXRTX Corporation | $13M | 2.0% | +48.1% | 4.3 yr |
| PEPPepsiCo, Inc. | $12M | 1.9% | +7.7% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors7.1%+2.9pp$46M
Software - Infrastructure6.7%+0.0pp$43M
Drug Manufacturers - General6.3%+2.1pp$40M
Medical - Devices5.3%-1.5pp$34M
Medical - Diagnostics & Research5.0%-0.5pp$33M
Software - Application4.6%+0.9pp$30M
Internet Content & Information4.5%+1.0pp$29M
Banks - Diversified4.1%+0.2pp$26M
Medical - Healthcare Plans3.8%-2.4pp$25M
Oil & Gas Midstream3.5%-0.0pp$23M
Country
US95.5%+0.1pp
CH1.8%+0.3pp
SG0.7%+0.2pp
GB0.6%+0.1pp
CA0.4%
IE0.4%-0.1pp
CN0.2%-0.2pp
NL0.1%+0.1pp
Top 5: 22.7% · Top 10: 37.1% · Top 25: 63.9%
Top buys this quarter · 15
| NOW ServiceNow, Inc.new | +$4M |
| ADSK Autodesk, Inc.new | +$3M |
| INTU Intuit Inc. | +$3M |
| DDOG Datadog, Inc.new | +$2M |
| AMZN Amazon.com, Inc. | +$18M |
| SHOP Shopify Inc. | +$1M |
| GRAB Grab Holdings Limited | +$5M |
| MSFT Microsoft Corporation | +$27M |
| NFLX Netflix, Inc. | +$0M |
| BX Blackstone Inc.new | +$0M |
Top sells this quarter · 15
| AMAT Applied Materials, Inc. | −$37M |
| CPNG Coupang, Inc.exit | −$5M |
| KVUE Kenvue Inc.exit | −$2M |
| CSCO Cisco Systems, Inc. | −$2M |
| ELAN Elanco Animal Health Incorporaexit | −$2M |
| PEP PepsiCo, Inc. | −$2M |
| YUMC Yum China Holdings, Inc.exit | −$1M |
| TMO Thermo Fisher Scientific Inc. | −$1M |
| SCHW The Charles Schwab Corporation | −$0M |
| STZ Constellation Brands, Inc. | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $644M | 154 | +10.80% | +17.59% | -6.79% | -0.01B |
| 2025-12-31 | $664M | 150 | +12.26% | +17.72% | -5.46% | +0.01B |
| 2025-09-30 | $642M | 150 | +8.21% | +17.52% | -9.31% | -0.00B |
| 2025-06-30 | $614M | 152 | +9.70% | +14.94% | -5.24% | -0.00B |
| 2025-03-31 | $584M | 151 | +3.10% | +8.30% | -5.21% | -0.01B |
| 2024-12-31 | $599M | 150 | +12.82% | +24.89% | -12.07% | -0.01B |
| 2024-09-30 | $617M | 153 | +25.44% | +36.04% | -10.60% | +0.00B |
| 2024-06-30 | $581M | 142 | +14.00% | +24.49% | -10.49% | +0.02B |
| 2024-03-31 | $567M | 138 | +20.21% | +29.62% | -9.41% | -0.00B |
| 2023-12-31 | $525M | 135 | +14.10% | +26.18% | -12.08% | -0.01B |
| 2023-09-30 | $488M | 134 | +15.89% | +21.57% | -5.68% | -0.01B |
| 2023-06-30 | $515M | 137 | +13.85% | +19.42% | -5.58% | -0.00B |
| 2023-03-31 | $495M | 135 | -5.41% | -7.82% | +2.41% | -0.01B |
| 2022-12-31 | $492M | 139 | +11.22% | +7.56% | +3.66% | -0.01B |
| 2022-09-30 | $453M | 134 | -5.25% | -4.93% | -0.32% | -0.01B |
| 2022-06-30 | $488M | 139 | -13.12% | -16.11% | +2.99% | -0.01B |