Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-8.53%
trims when stocks drop
when a holding falls −10%+
Middle response
-0.22%
baseline attrition
Rally response
+0.76%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| GOOGLAlphabet Inc. | $2.03B | 6.1% | — | 6.3 yr |
| NVDANVIDIA Corporation | $1.69B | 5.1% | +60.9% | 6.0 yr |
| MSFTMicrosoft Corporation | $1.57B | 4.7% | -0.6% | 6.0 yr |
| AAPLApple Inc. | $1.40B | 4.2% | +14.7% | 6.0 yr |
| METAMeta Platforms, Inc. | $925M | 2.8% | -0.4% | 6.3 yr |
| SPYState Street SPDR S&P 50 | $905M | 2.7% | +17.6% | 6.0 yr |
| AMZNAmazon.com, Inc. | $810M | 2.4% | +9.5% | 6.3 yr |
| LLYEli Lilly and Company | $809M | 2.4% | +12.2% | 6.0 yr |
| VVisa Inc. | $690M | 2.1% | -13.1% | 6.0 yr |
| JNJJohnson & Johnson | $675M | 2.0% | +51.5% | 6.0 yr |
| PGThe Procter & Gamble Com | $653M | 2.0% | -12.9% | 6.3 yr |
| MAMastercard Incorporated | $610M | 1.8% | -8.5% | 6.0 yr |
| JPMJPMorgan Chase & Co. | $588M | 1.8% | +21.8% | 6.0 yr |
| WMTWalmart Inc. | $585M | 1.8% | +42.8% | 6.3 yr |
| NFLXNetflix, Inc. | $518M | 1.6% | +3.1% | 6.3 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors11.5%+3.0pp$3.81B
Internet Content & Information9.1%+1.0pp$3.01B
Drug Manufacturers - General7.6%+2.6pp$2.50B
Asset Management6.1%-0.2pp$2.02B
Software - Infrastructure5.7%-1.5pp$1.89B
Banks - Diversified4.4%+1.9pp$1.46B
Consumer Electronics4.2%+0.5pp$1.40B
Financial - Credit Services3.9%-1.5pp$1.31B
Discount Stores3.2%+2.0pp$1.08B
Medical - Devices2.6%-0.3pp$855M
Country
US91.9%-1.1pp
GB2.7%+0.8pp
IE1.7%-0.7pp
CH1.4%+0.3pp
FR0.5%
TW0.5%+0.2pp
Unknown0.4%+0.2pp
IT0.3%-0.0pp
Top 5: 23.0% · Top 10: 34.7% · Top 25: 56.8%
Top buys this quarter · 15
| AZN AstraZeneca PLCnew | +$368M |
| COP ConocoPhillips | +$264M |
| JNJ Johnson & Johnson | +$239M |
| WMT Walmart Inc. | +$192M |
| CME CME Group Inc. | +$165M |
| KLAC KLA Corporation | +$158M |
| CSCO Cisco Systems, Inc. | +$155M |
| BAC Bank of America Corporation | +$148M |
| LLY Eli Lilly and Company | +$127M |
| LRCX Lam Research Corporation | +$123M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $33.15B | 676 | +10.80% | +17.59% | -6.79% | -1.04B |
| 2025-12-31 | $36.24B | 642 | +13.39% | +17.72% | -4.33% | +0.31B |
| 2025-09-30 | $35.47B | 667 | +12.62% | +17.52% | -4.89% | +0.38B |
| 2025-06-30 | $33.66B | 608 | +13.04% | +14.94% | -1.91% | -0.56B |
| 2025-03-31 | $30.76B | 610 | +4.36% | +8.30% | -3.94% | -0.50B |
| 2024-12-31 | $32.39B | 629 | +26.98% | +24.89% | +2.09% | +2.48B |
| 2024-09-30 | $29.72B | 506 | +38.61% | +36.04% | +2.58% | +2.36B |
| 2024-06-30 | $26.15B | 487 | +27.12% | +24.49% | +2.63% | -0.60B |
| 2024-03-31 | $26.05B | 524 | +33.77% | +29.62% | +4.14% | +19.17B |
| 2023-12-31 | $5.85B | 524 | +19.71% | +26.18% | -6.47% | -12.99B |
| 2023-09-30 | $17.16B | 523 | +18.84% | +21.57% | -2.72% | +1.02B |
| 2023-06-30 | $16.81B | 557 | +17.19% | +19.42% | -2.24% | -0.19B |
| 2023-03-31 | $15.74B | 581 | -8.72% | -7.82% | -0.91% | +0.35B |
| 2022-12-31 | $14.64B | 570 | -17.18% | -18.17% | +1.00% | +0.29B |
| 2022-09-30 | $13.16B | 568 | -15.62% | -15.51% | -0.11% | -0.25B |
| 2022-06-30 | $14.17B | 595 | -10.34% | -10.62% | +0.28% | +0.12B |