Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-13.35%
trims when stocks drop
when a holding falls −10%+
Middle response
-17.67%
baseline attrition
Rally response
-23.26%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| MSFTMicrosoft Corporation | $5.05B | 8.1% | -0.6% | 9.5 yr |
| AMZNAmazon.com, Inc. | $4.27B | 6.8% | +9.5% | 9.5 yr |
| AAPLApple Inc. | $4.20B | 6.7% | +14.7% | 9.0 yr |
| NVDANVIDIA Corporation | $3.57B | 5.7% | +60.9% | 7.0 yr |
| GOOGAlphabet Inc. | $2.57B | 4.1% | +84.3% | 9.5 yr |
| TSLATesla, Inc. | $1.46B | 2.3% | +43.4% | 6.3 yr |
| LLYEli Lilly and Company | $1.43B | 2.3% | +12.2% | 8.0 yr |
| BRK-BBerkshire Hathaway Inc. | $1.11B | 1.8% | — | 9.3 yr |
| CVXChevron Corporation | $1.07B | 1.7% | +29.2% | 8.5 yr |
| AMDAdvanced Micro Devices, | $959M | 1.5% | +98.0% | 6.8 yr |
| METAMeta Platforms, Inc. | $884M | 1.4% | -0.4% | 9.5 yr |
| ISRGIntuitive Surgical, Inc. | $804M | 1.3% | -6.9% | 9.3 yr |
| NFLXNetflix, Inc. | $768M | 1.2% | +3.1% | 7.5 yr |
| SNPSSynopsys, Inc. | $698M | 1.1% | -7.5% | 8.5 yr |
| BSXBoston Scientific Corpor | $631M | 1.0% | -37.8% | 9.3 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors13.4%+1.2pp$8.39B
Software - Infrastructure10.3%+2.8pp$6.46B
Specialty Retail9.5%+0.5pp$5.96B
Internet Content & Information6.9%-0.1pp$4.34B
Consumer Electronics6.7%-0.4pp$4.20B
Drug Manufacturers - General4.3%+1.9pp$2.71B
Medical - Devices4.1%+1.2pp$2.54B
Software - Application3.0%-1.2pp$1.90B
Oil & Gas Integrated2.5%+1.6pp$1.57B
Auto - Manufacturers2.5%-1.7pp$1.56B
Country
US93.6%-0.1pp
BR1.2%+1.0pp
UY0.9%-0.0pp
GB0.8%+0.2pp
IE0.8%-1.1pp
KR0.5%+0.4pp
SG0.4%+0.1pp
Unknown0.4%-0.0pp
Top 5: 31.4% · Top 10: 41.1% · Top 25: 55.0%
Top buys this quarter · 15
| LLY Eli Lilly and Company | +$1.11B |
| MSFT Microsoft Corporation | +$5.05B |
| GOOG Alphabet Inc. | +$643M |
| TSLA Tesla, Inc. | +$643M |
| CVX Chevron Corporation | +$607M |
| LRCX Lam Research Corporation | +$431M |
| META Meta Platforms, Inc. | +$380M |
| BSX Boston Scientific Corporation | +$361M |
| ABT Abbott Laboratories | +$342M |
| CPNG Coupang, Inc. | +$302M |
Top sells this quarter · 15
| COST Costco Wholesale Corporation | −$626M |
| AAPL Apple Inc. | −$586M |
| PG The Procter & Gamble Company | −$494M |
| TXN Texas Instruments Incorporated | −$470M |
| PDD PDD Holdings Inc. | −$463M |
| ABBV AbbVie Inc. | −$350M |
| MA Mastercard Incorporated | −$323M |
| SLB SLB N.V. | −$296M |
| AMD Advanced Micro Devices, Inc. | −$260M |
| CDNS Cadence Design Systems, Inc. | −$250M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $62.57B | 1072 | +20.74% | +17.59% | +3.15% | -0.49B |
| 2025-12-31 | $66.59B | 1117 | +20.56% | +17.72% | +2.85% | -3.68B |
| 2025-09-30 | $67.66B | 1134 | +17.09% | +17.52% | -0.43% | -0.77B |
| 2025-06-30 | $63.00B | 1121 | +14.48% | +14.94% | -0.46% | -0.38B |
| 2025-03-31 | $56.07B | 1122 | +4.21% | +8.30% | -4.09% | +3.42B |
| 2024-12-31 | $55.68B | 1279 | +20.85% | +24.89% | -4.04% | +6.88B |
| 2024-09-30 | $48.39B | 1311 | +36.28% | +36.04% | +0.24% | +5.82B |
| 2024-06-30 | $40.08B | 1358 | +25.25% | +24.49% | +0.75% | +1.38B |
| 2024-03-31 | $37.62B | 1309 | +31.50% | +29.62% | +1.88% | +1.73B |
| 2023-12-31 | $32.73B | 1339 | +34.26% | +26.18% | +8.09% | +0.24B |
| 2023-09-30 | $28.57B | 1322 | +22.16% | +21.57% | +0.59% | +3.72B |
| 2023-06-30 | $25.45B | 1267 | +19.82% | +19.42% | +0.39% | -1.91B |
| 2023-03-31 | $25.33B | 1349 | -6.99% | -7.82% | +0.83% | -1.86B |
| 2022-12-31 | $24.28B | 1283 | +3.48% | +7.56% | -4.08% | +0.19B |
| 2022-09-30 | $23.28B | 1270 | -4.27% | -4.93% | +0.66% | +0.67B |
| 2022-06-30 | $23.63B | 1383 | -16.14% | -16.11% | -0.03% | -2.15B |