Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-2.34%
trims when stocks drop
when a holding falls −10%+
Middle response
-1.23%
baseline attrition
Rally response
+0.59%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $332M | 4.9% | +60.9% | 9.0 yr |
| AAPLApple Inc. | $315M | 4.7% | +14.7% | 9.0 yr |
| MSFTMicrosoft Corporation | $170M | 2.5% | -0.6% | 9.0 yr |
| AMZNAmazon.com, Inc. | $136M | 2.0% | +9.5% | 9.0 yr |
| AVGOBroadcom Inc. | $127M | 1.9% | +86.0% | 8.0 yr |
| GOOGLAlphabet Inc. | $121M | 1.8% | — | 9.0 yr |
| GOOGAlphabet Inc. | $106M | 1.6% | +84.3% | 9.0 yr |
| TSMTaiwan Semiconductor Man | $87M | 1.3% | +105.6% | 9.0 yr |
| GILDGilead Sciences, Inc. | $73M | 1.1% | +27.7% | 9.0 yr |
| METAMeta Platforms, Inc. | $71M | 1.0% | -0.4% | 9.0 yr |
| JPMJPMorgan Chase & Co. | $70M | 1.0% | +21.8% | 9.0 yr |
| VVisa Inc. | $64M | 0.9% | -13.1% | 9.0 yr |
| TJXThe TJX Companies, Inc. | $63M | 0.9% | +32.7% | 9.0 yr |
| XOMExxon Mobil Corporation | $62M | 0.9% | +47.6% | 9.0 yr |
| QCOMQUALCOMM Incorporated | $59M | 0.9% | -14.2% | 9.0 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors12.8%+3.4pp$866M
Banks - Diversified5.9%+0.5pp$398M
Consumer Electronics4.8%+0.8pp$326M
Internet Content & Information4.7%+1.1pp$317M
Software - Infrastructure4.6%-1.0pp$309M
Drug Manufacturers - General3.3%+0.1pp$223M
Specialty Retail2.9%+0.3pp$196M
Telecommunications Services2.7%+0.1pp$182M
Financial - Credit Services2.6%-1.0pp$177M
Software - Application2.5%-0.7pp$171M
Country
US82.3%-0.5pp
GB2.8%-0.4pp
CA2.7%-0.1pp
IE1.9%+0.3pp
TW1.4%-0.0pp
JP1.1%-0.0pp
NL1.0%+0.2pp
CN1.0%+0.5pp
Top 5: 16.0% · Top 10: 22.7% · Top 25: 34.9%
Top buys this quarter · 15
| AAPL Apple Inc. | +$35M |
| NOW ServiceNow, Inc. | +$24M |
| JCI Johnson Controls International | +$17M |
| NVT nVent Electric plc | +$12M |
| B Barrick Mining Corporation | +$12M |
| OLED Universal Display Corporation | +$12M |
| JOYY JOYY, Inc. Sponsored ADR Classnew | +$11M |
| TNL Travel + Leisure Co. | +$10M |
| TOTB.DE TotalEnergies SEnew | +$10M |
| UGI UGI Corporation | +$10M |
Top sells this quarter · 15
| MSFT Microsoft Corporation | −$28M |
| SIG Signet Jewelers Limited | −$18M |
| SHEL Shell plc | −$15M |
| KO The Coca-Cola Company | −$15M |
| CM Canadian Imperial Bank of Comm | −$14M |
| VLO Valero Energy Corporation | −$13M |
| TXT Textron Inc. | −$13M |
| RY Royal Bank of Canada | −$12M |
| PYPL PayPal Holdings, Inc. | −$12M |
| TIGO Millicom International Cellula | −$10M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $6.77B | 1234 | +19.29% | +17.59% | +1.70% | +0.01B |
| 2025-12-31 | $6.97B | 1224 | +20.82% | +17.72% | +3.10% | +0.09B |
| 2025-09-30 | $6.68B | 1286 | +18.23% | +17.52% | +0.72% | +0.00B |
| 2025-06-30 | $6.19B | 1318 | +17.26% | +14.94% | +2.31% | -0.09B |
| 2025-03-31 | $5.67B | 1309 | +6.66% | +8.30% | -1.64% | +0.28B |
| 2024-12-31 | $5.49B | 1246 | +18.08% | +24.89% | -6.81% | -0.17B |
| 2024-09-30 | $5.61B | 1275 | +31.02% | +36.04% | -5.01% | +0.01B |
| 2024-06-30 | $5.23B | 1292 | +18.48% | +24.49% | -6.01% | -0.02B |
| 2024-03-31 | $5.22B | 1324 | +24.15% | +29.62% | -5.47% | -0.02B |
| 2023-12-31 | $4.82B | 1296 | +20.51% | +26.18% | -5.67% | -0.12B |
| 2023-09-30 | $4.41B | 1258 | +18.30% | +21.57% | -3.27% | -0.08B |
| 2023-06-30 | $4.65B | 1298 | +15.38% | +19.42% | -4.05% | +0.16B |
| 2023-03-31 | $4.25B | 1295 | -5.15% | -7.82% | +2.67% | +0.02B |
| 2022-12-31 | $4.01B | 1252 | -14.26% | -18.17% | +3.92% | +0.05B |
| 2022-09-30 | $3.60B | 1240 | -13.28% | -15.51% | +2.23% | -0.03B |
| 2022-06-30 | $3.86B | 1274 | -7.50% | -10.62% | +3.12% | -0.03B |