Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-20.22%
trims when stocks drop
when a holding falls −10%+
Middle response
-2.00%
baseline attrition
Rally response
-2.78%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $108M | 6.3% | +60.9% | 5.5 yr |
| AAPLApple Inc. | $102M | 6.0% | +14.7% | 10.3 yr |
| GOOGLAlphabet Inc. | $90M | 5.2% | — | 6.3 yr |
| ISCFiShares International Sm | $82M | 4.8% | — | 0.8 yr |
| TSMTaiwan Semiconductor Man | $75M | 4.4% | +105.6% | 4.0 yr |
| XBIState Street SPDR S&P Bi | $72M | 4.2% | — | 0.5 yr |
| JPMJPMorgan Chase & Co. | $66M | 3.8% | +21.8% | 4.8 yr |
| AVGOBroadcom Inc. | $66M | 3.8% | +86.0% | 6.3 yr |
| MCKMcKesson Corporation | $59M | 3.4% | +29.1% | 4.3 yr |
| AMZNAmazon.com, Inc. | $56M | 3.3% | +9.5% | 10.3 yr |
| ASMLASML Holding N.V. | $55M | 3.2% | +100.9% | 7.3 yr |
| GLWCorning Incorporated | $53M | 3.1% | +201.5% | 0.3 yr |
| COSTCostco Wholesale Corpora | $46M | 2.7% | +5.9% | 10.3 yr |
| JNJJohnson & Johnson | $46M | 2.7% | +51.5% | 10.3 yr |
| EWYiShares MSCI South Korea | $45M | 2.6% | — | 0.5 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors20.1%+12.1pp$346M
Asset Management15.5%+14.1pp$266M
Internet Content & Information8.0%+1.0pp$137M
Banks - Diversified7.3%+3.7pp$126M
Hardware, Equipment & Parts7.2%+7.1pp$123M
Consumer Electronics6.0%+0.5pp$102M
Drug Manufacturers - General5.2%+4.7pp$90M
Discount Stores5.2%+1.3pp$89M
Medical - Distribution3.4%+0.4pp$59M
Specialty Retail3.3%-2.5pp$56M
Country
US82.2%-5.5pp
CA4.6%
TW4.4%+2.5pp
GB3.3%+1.1pp
NL3.2%+3.2pp
AU2.2%
IE0.1%-0.9pp
JP0.0%
Top 5: 26.6% · Top 10: 45.2% · Top 25: 83.1%
Top buys this quarter · 15
| GLW Corning Incorporatednew | +$53M |
| AZN AstraZeneca PLCnew | +$38M |
| RY Royal Bank of Canadanew | +$36M |
| MU Micron Technology, Inc. | +$35M |
| KEYS Keysight Technologies, Inc.new | +$32M |
| AAPL Apple Inc. | +$29M |
| BHP BHP Group Limited | +$15M |
| FICO Fair Isaac Corporation | +$6M |
| NVDA NVIDIA Corporation | +$108M |
| PANW Palo Alto Networks, Inc. | +$3M |
Top sells this quarter · 15
| V Visa Inc. | −$50M |
| PLTR Palantir Technologies Inc. | −$40M |
| MSFT Microsoft Corporation | −$37M |
| HOOD Robinhood Markets, Inc. | −$37M |
| UBER Uber Technologies, Inc. | −$31M |
| DHI D.R. Horton, Inc. | −$29M |
| COP ConocoPhillips | −$29M |
| IBN ICICI Bank Limitedexit | −$26M |
| GS The Goldman Sachs Group, Inc. | −$21M |
| BCS Barclays PLC | −$18M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.72B | 148 | +24.18% | +17.59% | +6.59% | +0.02B |
| 2025-12-31 | $1.75B | 129 | +23.56% | +17.72% | +5.84% | -0.11B |
| 2025-09-30 | $1.85B | 129 | +28.79% | +17.52% | +11.27% | +0.13B |
| 2025-06-30 | $1.61B | 115 | +24.26% | +14.94% | +9.31% | -0.21B |
| 2025-03-31 | $1.53B | 101 | +9.21% | +8.30% | +0.91% | -0.02B |
| 2024-12-31 | $1.60B | 110 | +27.11% | +24.89% | +2.23% | -0.06B |
| 2024-09-30 | $1.59B | 109 | +37.04% | +36.04% | +1.00% | +0.02B |
| 2024-06-30 | $1.52B | 103 | +31.38% | +24.49% | +6.88% | -0.02B |
| 2024-03-31 | $1.47B | 107 | +35.61% | +29.62% | +5.99% | +0.07B |
| 2023-12-31 | $1.25B | 106 | +24.56% | +26.18% | -1.62% | +0.15B |
| 2023-09-30 | $971M | 91 | +15.48% | +21.57% | -6.08% | +0.35B |
| 2023-06-30 | $627M | 93 | +11.41% | +19.42% | -8.01% | +0.08B |
| 2023-03-31 | $506M | 91 | -9.60% | -7.82% | -1.79% | +0.08B |
| 2022-12-31 | $411M | 98 | -16.59% | -18.17% | +1.59% | -0.06B |
| 2022-09-30 | $454M | 97 | -11.53% | -15.51% | +3.97% | +0.09B |
| 2022-06-30 | $381M | 86 | +31.04% | -10.62% | +41.66% | -0.55B |