Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-0.57%
trims when stocks drop
when a holding falls −10%+
Middle response
-0.93%
baseline attrition
Rally response
-0.19%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $664M | 6.8% | +60.9% | 10.3 yr |
| AAPLApple Inc. | $594M | 6.1% | +14.7% | 10.3 yr |
| MSFTMicrosoft Corporation | $446M | 4.6% | -0.6% | 10.3 yr |
| AMZNAmazon.com, Inc. | $325M | 3.3% | +9.5% | 10.3 yr |
| GOOGLAlphabet Inc. | $272M | 2.8% | — | 10.3 yr |
| AVGOBroadcom Inc. | $232M | 2.4% | +86.0% | 7.8 yr |
| GOOGAlphabet Inc. | $221M | 2.3% | +84.3% | 10.3 yr |
| METAMeta Platforms, Inc. | $203M | 2.1% | -0.4% | 10.3 yr |
| TSLATesla, Inc. | $171M | 1.7% | +43.4% | 10.3 yr |
| JPMJPMorgan Chase & Co. | $130M | 1.3% | +21.8% | 10.3 yr |
| LLYEli Lilly and Company | $120M | 1.2% | +12.2% | 10.3 yr |
| XOMExxon Mobil Corporation | $117M | 1.2% | +47.6% | 10.3 yr |
| BRK-BBerkshire Hathaway Inc. | $115M | 1.2% | — | 10.3 yr |
| JNJJohnson & Johnson | $96M | 1.0% | +51.5% | 10.3 yr |
| WMTWalmart Inc. | $88M | 0.9% | +42.8% | 10.3 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors13.3%+4.4pp$1.30B
Internet Content & Information7.4%+1.4pp$726M
Software - Infrastructure6.6%-0.7pp$644M
Consumer Electronics6.1%-0.2pp$594M
Drug Manufacturers - General4.5%+0.1pp$445M
Specialty Retail4.0%-0.2pp$390M
Banks - Diversified3.6%+0.2pp$356M
Aerospace & Defense2.3%+0.4pp$228M
Software - Application2.2%-1.1pp$216M
Financial - Credit Services2.2%-0.6pp$215M
Country
US94.1%-0.3pp
CA2.5%+0.6pp
IE1.3%-0.2pp
GB0.6%-0.0pp
Unknown0.5%+0.0pp
CH0.3%-0.0pp
SG0.1%+0.1pp
LU0.1%-0.0pp
Top 5: 23.5% · Top 10: 33.3% · Top 25: 45.3%
Top buys this quarter · 15
| SNDK Sandisk Corporation | +$10M |
| LITE Lumentum Holdings Inc. | +$5M |
| COHR Coherent, Inc. | +$5M |
| RKLB Rocket Lab USA, Inc. | +$4M |
| PANW Palo Alto Networks, Inc. | +$3M |
| FTI TechnipFMC plc | +$3M |
| SUNB Sunbelt Rentals Holdings Incnew | +$3M |
| CRWV CoreWeave, Inc. Class A Commonnew | +$3M |
| XPO XPO Logistics, Inc. | +$2M |
| WWD Woodward, Inc. | +$2M |
Top sells this quarter · 15
| AVB AvalonBay Communities, Inc. | −$44M |
| AAPL Apple Inc. | −$17M |
| ESS Essex Property Trust, Inc. | −$11M |
| INVH Invitation Homes Inc. | −$11M |
| MAA Mid-America Apartment Communit | −$11M |
| NVDA NVIDIA Corporation | −$11M |
| MSFT Microsoft Corporation | −$7M |
| DB Deutsche Bank AGexit | −$6M |
| FANG Diamondback Energy, Inc. | −$5M |
| AMZN Amazon.com, Inc. | −$5M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $9.78B | 972 | +17.87% | +17.59% | +0.28% | -0.29B |
| 2025-12-31 | $10.51B | 981 | +17.51% | +17.72% | -0.21% | -0.01B |
| 2025-09-30 | $10.29B | 985 | +17.86% | +17.52% | +0.34% | -0.04B |
| 2025-06-30 | $9.57B | 990 | +16.13% | +14.94% | +1.19% | -0.09B |
| 2025-03-31 | $8.67B | 959 | +6.23% | +8.30% | -2.07% | -0.00B |
| 2024-12-31 | $9.08B | 975 | +19.96% | +24.89% | -4.93% | -0.00B |
| 2024-09-30 | $8.86B | 984 | +31.17% | +36.04% | -4.87% | -0.09B |
| 2024-06-30 | $8.42B | 971 | +18.71% | +24.49% | -5.78% | -0.31B |
| 2024-03-31 | $8.55B | 971 | +25.22% | +29.62% | -4.40% | +0.08B |
| 2023-12-31 | $7.85B | 985 | +24.29% | +26.18% | -1.89% | +0.01B |
| 2023-09-30 | $7.00B | 971 | +17.85% | +21.57% | -3.72% | +0.06B |
| 2023-06-30 | $7.21B | 989 | +17.07% | +19.42% | -2.35% | -0.23B |
| 2023-03-31 | $6.92B | 968 | -7.62% | -7.82% | +0.20% | +0.16B |
| 2022-12-31 | $6.31B | 956 | +6.25% | +7.56% | -1.31% | -0.07B |
| 2022-09-30 | $6.00B | 955 | -4.41% | -4.93% | +0.52% | +0.03B |
| 2022-06-30 | $6.25B | 983 | -15.06% | -16.11% | +1.05% | -0.14B |