Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-7.11%
trims when stocks drop
when a holding falls −10%+
Middle response
-1.81%
baseline attrition
Rally response
-1.98%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $233M | 9.4% | +60.9% | 10.5 yr |
| AAPLApple Inc. | $191M | 7.7% | +14.7% | 10.5 yr |
| GOOGLAlphabet Inc. | $143M | 5.8% | — | 10.5 yr |
| MSFTMicrosoft Corporation | $132M | 5.3% | -0.6% | 10.5 yr |
| AMZNAmazon.com, Inc. | $96M | 3.8% | +9.5% | 10.5 yr |
| AVGOBroadcom Inc. | $90M | 3.6% | +86.0% | 8.0 yr |
| JPMJPMorgan Chase & Co. | $59M | 2.4% | +21.8% | 10.5 yr |
| METAMeta Platforms, Inc. | $55M | 2.2% | -0.4% | 10.5 yr |
| JNJJohnson & Johnson | $52M | 2.1% | +51.5% | 10.5 yr |
| KLACKLA Corporation | $44M | 1.8% | +118.2% | 10.5 yr |
| LLYEli Lilly and Company | $38M | 1.5% | +12.2% | 10.5 yr |
| GSThe Goldman Sachs Group, | $37M | 1.5% | +58.1% | 10.3 yr |
| ABBVAbbVie Inc. | $34M | 1.4% | +7.3% | 10.5 yr |
| MUMicron Technology, Inc. | $33M | 1.3% | +289.6% | 10.3 yr |
| CSCOCisco Systems, Inc. | $32M | 1.3% | +28.1% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors19.2%+8.2pp$476M
Internet Content & Information8.8%+0.8pp$218M
Consumer Electronics8.0%+0.9pp$199M
Software - Infrastructure6.7%-2.0pp$166M
Drug Manufacturers - General6.1%+1.3pp$152M
Specialty Retail5.1%-1.5pp$127M
Banks - Diversified3.2%-0.2pp$80M
Financial - Credit Services3.0%-0.2pp$76M
Financial - Capital Markets2.2%+0.6pp$54M
Biotechnology1.8%-0.1pp$45M
Country
US99.1%+1.4pp
SG0.4%-0.3pp
SE0.3%+0.2pp
HK0.1%+0.0pp
Unknown0.1%-0.5pp
GB0.0%-0.2pp
UY0.0%-0.0pp
CA0.0%-0.4pp
Top 5: 32.0% · Top 10: 44.0% · Top 25: 61.1%
Top buys this quarter · 15
| JNJ Johnson & Johnson | +$48M |
| NVDA NVIDIA Corporation | +$24M |
| MU Micron Technology, Inc. | +$19M |
| AAPL Apple Inc. | +$18M |
| NEM Newmont Corporation | +$14M |
| MSFT Microsoft Corporation | +$132M |
| LLY Eli Lilly and Company | +$10M |
| SSNC SS&C Technologies Holdings, In | +$9M |
| DECK Deckers Outdoor Corporation | +$8M |
| AMZN Amazon.com, Inc. | +$96M |
Top sells this quarter · 15
| MCK McKesson Corporationexit | −$23M |
| DELL Dell Technologies Inc. | −$20M |
| META Meta Platforms, Inc. | −$13M |
| EME EMCOR Group, Inc.exit | −$12M |
| CBRE CBRE Group, Inc. | −$9M |
| AZO AutoZone, Inc. | −$9M |
| DRI Darden Restaurants, Inc. | −$6M |
| VIRT Virtu Financial, Inc.exit | −$6M |
| PINS Pinterest, Inc. | −$6M |
| CAT Caterpillar Inc. | −$5M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $2.49B | 446 | +19.10% | +17.59% | +1.51% | +0.13B |
| 2025-12-31 | $2.53B | 481 | +20.07% | +17.72% | +2.35% | -0.03B |
| 2025-09-30 | $2.51B | 506 | +22.41% | +17.52% | +4.89% | +0.09B |
| 2025-06-30 | $2.19B | 525 | +18.16% | +14.94% | +3.22% | +0.18B |
| 2025-03-31 | $1.77B | 569 | +6.43% | +8.30% | -1.88% | -0.01B |
| 2024-12-31 | $1.89B | 572 | +24.55% | +24.89% | -0.34% | -0.04B |
| 2024-09-30 | $1.86B | 595 | +34.76% | +36.04% | -1.28% | +0.55B |
| 2024-06-30 | $1.22B | 562 | +21.35% | +24.49% | -3.14% | +0.02B |
| 2024-03-31 | $1.18B | 568 | +29.74% | +29.62% | +0.12% | +0.03B |
| 2023-12-31 | $1.05B | 570 | +27.21% | +26.18% | +1.03% | +0.02B |
| 2023-09-30 | $911M | 576 | +21.45% | +21.57% | -0.11% | -0.01B |
| 2023-06-30 | $959M | 577 | +21.03% | +19.42% | +1.61% | -0.08B |
| 2023-03-31 | $954M | 582 | -4.91% | -7.82% | +2.90% | +0.01B |
| 2022-12-31 | $871M | 578 | +7.32% | +7.56% | -0.24% | +0.01B |
| 2022-09-30 | $805M | 583 | -4.27% | -4.93% | +0.66% | -0.29B |
| 2022-06-30 | $1.15B | 593 | -14.32% | -16.11% | +1.79% | -0.13B |